IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v200y2024ics004016252300879x.html
   My bibliography  Save this article

The factors behind block-chain technology that boost the circular economy: An organizational perspective

Author

Listed:
  • Javeed, Sohail Ahmad
  • Akram, Umair

Abstract

All authorities are attracted to the circular economy due to the excessive use of industrial production. In this vein, the importance of digitization has gained huge attention. Digital technology, particularly block-chain technology, enlightens a new face of industry and economy that stimulates corporate social action. In this setting, we trying to probe the connection amid block-chain technology and circular economy with help of organization factors, agility, institutional, strategic, and green knowledge management as the moderators. After a series of tests in the Chinese corporate sector, we unfold the theoretical concept of block-chain technology that assists in enhancing circular economy practices at the corporate level. We further pinpoint the importance of major organizational factors such as organizational agility, institutional factors, strategic factors, and green knowledge management that are actually responsible for improved circular economy practices. We importantly unveil the way to strengthen the connection amid block-chain technology and the circular economy, which is possible through the effective role of organizational agility, institutional factors, strategic factors, and green knowledge management. We offers guidance to policy makers for improving circular economy through the implication of block-chain technology. This study clarifies the function of organizational elements for enhancing circular economy and block-chain technology connection.

Suggested Citation

  • Javeed, Sohail Ahmad & Akram, Umair, 2024. "The factors behind block-chain technology that boost the circular economy: An organizational perspective," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    • Handle: RePEc:eee:tefoso:v:200:y:2024:i:c:s004016252300879x
    DOI: 10.1016/j.techfore.2023.123194
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S004016252300879X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2023.123194?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Augusto Bianchini & Jessica Rossi & Marco Pellegrini, 2019. "Overcoming the Main Barriers of Circular Economy Implementation through a New Visualization Tool for Circular Business Models," Sustainability, MDPI, vol. 11(23), pages 1-33, November.
    2. Saumyaranjan Sahoo & Anil Kumar & Arvind Upadhyay, 2023. "How do green knowledge management and green technology innovation impact corporate environmental performance? Understanding the role of green knowledge acquisition," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 551-569, January.
    3. Mathivathanan, Deepak & Mathiyazhagan, K. & Khorana, Sangeeta & Rana, Nripendra P. & Arora, Bimal, 2022. "Drivers of circular economy for small and medium enterprises: Case study on the Indian state of Tamil Nadu," Journal of Business Research, Elsevier, vol. 149(C), pages 997-1015.
    4. Rehman, Shafique Ur & Kraus, Sascha & Shah, Syed Asim & Khanin, Dmitry & Mahto, Raj V., 2021. "Analyzing the relationship between green innovation and environmental performance in large manufacturing firms," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    5. Sachin Kamble & Angappa Gunasekaran & Himanshu Arha, 2019. "Understanding the Blockchain technology adoption in supply chains-Indian context," International Journal of Production Research, Taylor & Francis Journals, vol. 57(7), pages 2009-2033, April.
    6. Sara Saberi & Mahtab Kouhizadeh & Joseph Sarkis & Lejia Shen, 2019. "Blockchain technology and its relationships to sustainable supply chain management," International Journal of Production Research, Taylor & Francis Journals, vol. 57(7), pages 2117-2135, April.
    7. Bauwens, Thomas & Hekkert, Marko & Kirchherr, Julian, 2020. "Circular futures: What Will They Look Like?," Ecological Economics, Elsevier, vol. 175(C).
    8. Young Chan Choe & Joowon Park & Miri Chung & Junghoon Moon, 2009. "Effect of the food traceability system for building trust: Price premium and buying behavior," Information Systems Frontiers, Springer, vol. 11(2), pages 167-179, April.
    9. Fernando, Yudi & Rozuar, Nor Hazwani Mohd & Mergeresa, Fineke, 2021. "The blockchain-enabled technology and carbon performance: Insights from early adopters," Technology in Society, Elsevier, vol. 64(C).
    10. Katelin Opferkuch & Anna M. Walker & Erik Roos Lindgreen & Sandra Caeiro & Roberta Salomone & Tomás B. Ramos, 2023. "Towards a framework for corporate disclosure of circular economy: Company perspectives and recommendations," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2457-2474, September.
    11. Tiago Hennemann Hilario da Silva & Simone Sehnem, 2022. "The circular economy and Industry 4.0: synergies and challenges," Revista de Gestão, Emerald Group Publishing Limited, vol. 29(3), pages 300-313, May.
    12. Aditya Chidepatil & Prabhleen Bindra & Devyani Kulkarni & Mustafa Qazi & Meghana Kshirsagar & Krishnaswamy Sankaran, 2020. "From Trash to Cash: How Blockchain and Multi-Sensor-Driven Artificial Intelligence Can Transform Circular Economy of Plastic Waste?," Administrative Sciences, MDPI, vol. 10(2), pages 1-16, April.
    13. Md. Abdul Moktadir & Anil Kumar & Syed Mithun Ali & Sanjoy Kumar Paul & Razia Sultana & Jafar Rezaei, 2020. "Critical success factors for a circular economy: Implications for business strategy and the environment," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3611-3635, December.
    14. Chen, Zhongfei & Zhang, Xiao & Chen, Fanglin, 2021. "Do carbon emission trading schemes stimulate green innovation in enterprises? Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 168(C).
    15. Saira Begum & Muhammad Ashfaq & Enjun Xia & Usama Awan, 2022. "Does green transformational leadership lead to green innovation? The role of green thinking and creative process engagement," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 580-597, January.
    16. Zlatko BEZHOVSKI & Ljupco DAVCEV & Mila MITREVA, 2021. "Current adoption state of cryptocurrencies as an electronic payment method," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 13(1), pages 44-50, March.
    17. Siachou, Evangelia & Vrontis, Demetris & Trichina, Eleni, 2021. "Can traditional organizations be digitally transformed by themselves? The moderating role of absorptive capacity and strategic interdependence," Journal of Business Research, Elsevier, vol. 124(C), pages 408-421.
    18. Marsal-Llacuna, Maria-Lluïsa, 2018. "Future living framework: Is blockchain the next enabling network?," Technological Forecasting and Social Change, Elsevier, vol. 128(C), pages 226-234.
    19. Valentina De Marchi & Eleonora Di Maria, 2020. "Achieving Circular Economy Via the Adoption of Industry 4.0 Technologies: A Knowledge Management Perspective," Knowledge Management and Organizational Learning, in: Marco Bettiol & Eleonora Di Maria & Stefano Micelli (ed.), Knowledge Management and Industry 4.0, pages 163-178, Springer.
    20. Qinglan Liu & Adriana Hofmann Trevisan & Miying Yang & Janaina Mascarenhas, 2022. "A framework of digital technologies for the circular economy: Digital functions and mechanisms," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2171-2192, July.
    21. Mohammad Najjar & Ihab H. Alsurakji & Amjad El-Qanni & Abdulnaser I. Nour, 2023. "The role of blockchain technology in the integration of sustainability practices across multi-tier supply networks: implications and potential complexities," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 13(1), pages 744-762, January.
    22. Farzana Riva & Solon Magrizos & Mohammad Rabiul Basher Rubel, 2021. "Investigating the link between managers' green knowledge and leadership style, and their firms' environmental performance: The mediation role of green creativity," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 3228-3240, November.
    23. Mao, Hongyi & Liu, Shan & Zhang, Jinlong & Deng, Zhaohua, 2016. "Information technology resource, knowledge management capability, and competitive advantage: The moderating role of resource commitment," International Journal of Information Management, Elsevier, vol. 36(6), pages 1062-1074.
    24. Setyowati, Milla Sepliana & Utami, Niken Desila & Saragih, Arfah Habib & Hendrawan, Adang, 2023. "Strategic factors in implementing blockchain technology in Indonesia's value-added tax system," Technology in Society, Elsevier, vol. 72(C).
    25. Graziela Darla Araujo Galvão & Steve Evans & Paulo Sergio Scoleze Ferrer & Marly Monteiro de Carvalho, 2022. "Circular business model: Breaking down barriers towards sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1504-1524, May.
    26. Ravi Srinivasan & Morgan Swink, 2018. "An Investigation of Visibility and Flexibility as Complements to Supply Chain Analytics: An Organizational Information Processing Theory Perspective," Production and Operations Management, Production and Operations Management Society, vol. 27(10), pages 1849-1867, October.
    27. Korhonen, Jouni & Honkasalo, Antero & Seppälä, Jyri, 2018. "Circular Economy: The Concept and its Limitations," Ecological Economics, Elsevier, vol. 143(C), pages 37-46.
    28. Matarazzo, Michela & Penco, Lara & Profumo, Giorgia & Quaglia, Roberto, 2021. "Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective," Journal of Business Research, Elsevier, vol. 123(C), pages 642-656.
    29. Zhang, Abraham & Wang, Jason X. & Farooque, Muhammad & Wang, Yulan & Choi, Tsan-Ming, 2021. "Multi-dimensional circular supply chain management: A comparative review of the state-of-the-art practices and research," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 155(C).
    30. Huigang Liang & Nianxin Wang & Yajiong Xue & Shilun Ge, 2017. "Unraveling the Alignment Paradox: How Does Business—IT Alignment Shape Organizational Agility?," Information Systems Research, INFORMS, vol. 28(4), pages 863-879, December.
    31. Ashkan Pakseresht & Sina Ahmadi Kaliji & Vilma Xhakollari, 2022. "How Blockchain Facilitates the Transition toward Circular Economy in the Food Chain?," Sustainability, MDPI, vol. 14(18), pages 1-22, September.
    32. Marcos Ferasso & Tatiana Beliaeva & Sascha Kraus & Thomas Clauss & Domingo Ribeiro‐Soriano, 2020. "Circular economy business models: The state of research and avenues ahead," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3006-3024, December.
    33. Willi Haas & Fridolin Krausmann & Dominik Wiedenhofer & Markus Heinz, 2015. "How Circular is the Global Economy?: An Assessment of Material Flows, Waste Production, and Recycling in the European Union and the World in 2005," Journal of Industrial Ecology, Yale University, vol. 19(5), pages 765-777, October.
    34. Akyildirim, Erdinc & Corbet, Shaen & Sensoy, Ahmet & Yarovaya, Larisa, 2020. "The impact of blockchain related name changes on corporate performance," Journal of Corporate Finance, Elsevier, vol. 65(C).
    35. Piera Centobelli & Roberto Cerchione & Davide Chiaroni & Pasquale Del Vecchio & Andrea Urbinati, 2020. "Designing business models in circular economy: A systematic literature review and research agenda," Business Strategy and the Environment, Wiley Blackwell, vol. 29(4), pages 1734-1749, May.
    36. Queiroz, Maciel M. & Fosso Wamba, Samuel, 2019. "Blockchain adoption challenges in supply chain: An empirical investigation of the main drivers in India and the USA," International Journal of Information Management, Elsevier, vol. 46(C), pages 70-82.
    37. Fernandez de Arroyabe, J.C. & Arranz, N. & Schumann, M. & Arroyabe, M.F., 2021. "The development of CE business models in firms: The role of circular economy capabilities," Technovation, Elsevier, vol. 106(C).
    38. Castro-Lopez, Adrian & Iglesias, Victor & Santos-Vijande, María Leticia, 2023. "Organizational capabilities and institutional pressures in the adoption of circular economy," Journal of Business Research, Elsevier, vol. 161(C).
    39. Nicole Van Buren & Marjolein Demmers & Rob Van der Heijden & Frank Witlox, 2016. "Towards a Circular Economy: The Role of Dutch Logistics Industries and Governments," Sustainability, MDPI, vol. 8(7), pages 1-17, July.
    40. Magdalena Rusch & Josef‐Peter Schöggl & Rupert J. Baumgartner, 2023. "Application of digital technologies for sustainable product management in a circular economy: A review," Business Strategy and the Environment, Wiley Blackwell, vol. 32(3), pages 1159-1174, March.
    41. Abla Chaouni Benabdellah & Kamar Zekhnini & Anass Cherrafi & Jose Arturo Garza‐Reyes & Anil Kumar, 2021. "Design for the environment: An ontology‐based knowledge management model for green product development," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 4037-4053, December.
    42. Treacy, Raymond & Humphreys, Paul & McIvor, Ronan & Lo, Chris, 2019. "ISO14001 certification and operating performance: A practice-based view," International Journal of Production Economics, Elsevier, vol. 208(C), pages 319-328.
    43. Miroshnychenko, Ivan & Strobl, Andreas & Matzler, Kurt & De Massis, Alfredo, 2021. "Absorptive capacity, strategic flexibility, and business model innovation: Empirical evidence from Italian SMEs," Journal of Business Research, Elsevier, vol. 130(C), pages 670-682.
    44. Cheng, Cong & Zhong, Huihui & Cao, Liebing, 2020. "Facilitating speed of internationalization: The roles of business intelligence and organizational agility," Journal of Business Research, Elsevier, vol. 110(C), pages 95-103.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Castro-Lopez, Adrian & Iglesias, Victor & Santos-Vijande, María Leticia, 2023. "Organizational capabilities and institutional pressures in the adoption of circular economy," Journal of Business Research, Elsevier, vol. 161(C).
    2. Ahmad, Farhan & Bask, Anu & Laari, Sini & Robinson, Craig V., 2023. "Business management perspectives on the circular economy: Present state and future directions," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    3. Hervé Corvellec & Alison F. Stowell & Nils Johansson, 2022. "Critiques of the circular economy," Journal of Industrial Ecology, Yale University, vol. 26(2), pages 421-432, April.
    4. Katja Beyer & Marlen Gabriele Arnold, 2022. "Social sustainability in an evolving circular fashion industry: identifying and triangulating concepts across different publication groups [Soziale Nachhaltigkeit in einer sich entwickelnden zirkul," NachhaltigkeitsManagementForum | Sustainability Management Forum, Springer, vol. 30(1), pages 29-54, December.
    5. Shahzad, Khuram & Zhang, Qingyu & Ashfaq, Muhammad & Zafar, Abaid Ullah & Ahmad, Bilal, 2024. "Pre- to post-adoption of blockchain technology in supply chain management: Influencing factors and the role of firm size," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    6. Kerem Toker & Ali Görener, 2023. "Evaluation of circular economy business models for SMEs using spherical fuzzy TOPSIS: an application from a developing countries’ perspective," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(2), pages 1700-1741, February.
    7. Bruno Michel Roman Pais Seles & Janaina Mascarenhas & Ana Beatriz Lopes de Sousa Jabbour & Adriana Hoffman Trevisan, 2022. "Smoothing the circular economy transition: The role of resources and capabilities enablers," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1814-1837, May.
    8. Patricia van Loon & Luk N. Van Wassenhove & Ales Mihelic, 2022. "Designing a circular business strategy: 7 years of evolution at a large washing machine manufacturer," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 1030-1041, March.
    9. Kirti Nayal & Rakesh D. Raut & Balkrishna E. Narkhede & Pragati Priyadarshinee & Gajanan B. Panchal & Vidyadhar V. Gedam, 2023. "Antecedents for blockchain technology-enabled sustainable agriculture supply chain," Annals of Operations Research, Springer, vol. 327(1), pages 293-337, August.
    10. Alejandro Aristi Capetillo & Fredric Bauer & Cristina Chaminade, 2023. "Emerging Technologies Supporting the Transition to a Circular Economy in the Plastic Materials Value Chain," Circular Economy and Sustainability,, Springer.
    11. Luigi Aldieri & Mohsen Brahmi & Bruna Bruno & Concetto Paolo Vinci, 2021. "Circular Economy Business Models: The Complementarities with Sharing Economy and Eco-Innovations Investments," Sustainability, MDPI, vol. 13(22), pages 1-13, November.
    12. Latan, Hengky & Lopes de Sousa Jabbour, Ana Beatriz & Sarkis, Joseph & Chiappetta Jabbour, Charbel Jose & Ali, Murad, 2024. "The nexus of supply chain performance and blockchain technology in the digitalization era: Insights from a fast-growing economy," Journal of Business Research, Elsevier, vol. 172(C).
    13. Marcelo Werneck Barbosa, 2022. "A Critical Appraisal of Review Studies in Circular Economy: a Tertiary Study," Circular Economy and Sustainability,, Springer.
    14. Jing Shao & Cedric Aneye & Alyona Kharitonova & Wei Fang, 2023. "Essential innovation capability of producer‐service enterprises towards circular business model: Motivators and barriers," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4548-4567, November.
    15. Kouhizadeh, Mahtab & Saberi, Sara & Sarkis, Joseph, 2021. "Blockchain technology and the sustainable supply chain: Theoretically exploring adoption barriers," International Journal of Production Economics, Elsevier, vol. 231(C).
    16. Dragan, George Bogdan & Arfi, Wissal Ben & Tiberius, Victor & Ammari, Aymen & Ferasso, Marcos, 2024. "Acceptance of circular entrepreneurship: Employees’ perceptions on organizations’ transition to the circular economy," Journal of Business Research, Elsevier, vol. 173(C).
    17. Miha Dominko & Kaja Primc & Renata Slabe-Erker & Barbara Kalar, 2023. "A bibliometric analysis of circular economy in the fields of business and economics: towards more action-oriented research," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(7), pages 5797-5830, July.
    18. Luca Marrucci & Tiberio Daddi & Fabio Iraldo, 2022. "Do dynamic capabilities matter? A study on environmental performance and the circular economy in European certified organisations," Business Strategy and the Environment, Wiley Blackwell, vol. 31(6), pages 2641-2657, September.
    19. Montecchi, Matteo & Plangger, Kirk & West, Douglas C., 2021. "Supply chain transparency: A bibliometric review and research agenda," International Journal of Production Economics, Elsevier, vol. 238(C).
    20. Chowdhury, Soumyadeb & Dey, Prasanta Kumar & Rodríguez-Espíndola, Oscar & Parkes, Geoff & Tuyet, Nguyen Thi Anh & Long, Dang Duc & Ha, Tran Phuong, 2022. "Impact of Organisational Factors on the Circular Economy Practices and Sustainable Performance of Small and Medium-sized Enterprises in Vietnam," Journal of Business Research, Elsevier, vol. 147(C), pages 362-378.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:200:y:2024:i:c:s004016252300879x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.