IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v16y2024i14p6092-d1436735.html
   My bibliography  Save this article

Sustainability and the Circular Economy Business Development

Author

Listed:
  • Albérico Travassos Rosário

    (The Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), Universidade Europeia, 1200-649 Lisbon, Portugal)

  • Paula Lopes

    (School of Communication, Architecture, Arts and Information Technologies (ECATI), CICANT—Lusófona University, 1749-024 Lisbon, Portugal)

  • Filipe Sales Rosário

    (Faculty of Design, Technology and Communication (IADE), Universidade Europeia, 1200-649 Lisbon, Portugal)

Abstract

Currently, there has been a tendency for companies to focus on the development of their businesses following circular economy trends associated with sustainability. European Community guidelines have established deadlines for the implementation of management strategies that allow creating and maintaining an effective and resource-efficient economic system, reducing the amount of energy and materials used in production. This study aims to analyze the existing literature review on the integration of sustainability and circular economy (CE) principles into business development. The research methodology is a systematic literature review using the SCOPUS database, in which 97 academic articles were analyzed after exclusion using keywords. The findings show that, after the analysis carried out in VOSviewer, business development, and circular economy are themes studied by many authors, with links related to the theme of sustainability. The conclusions indicate that CE and sustainability are interlinked, and companies must implement appropriate sustainability and CE strategies to increase their competitiveness and improve resource efficiency. These strategies can integrate innovative technologies, the use of sharing platforms, extending the useful life of products, recovering resources to minimize waste, and integrating sustainability concepts into business.

Suggested Citation

  • Albérico Travassos Rosário & Paula Lopes & Filipe Sales Rosário, 2024. "Sustainability and the Circular Economy Business Development," Sustainability, MDPI, vol. 16(14), pages 1-24, July.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:14:p:6092-:d:1436735
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/16/14/6092/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/16/14/6092/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. José-Antonio Corral-Marfil & Núria Arimany-Serrat & Emma L. Hitchen & Carme Viladecans-Riera, 2021. "Recycling Technology Innovation as a Source of Competitive Advantage: The Sustainable and Circular Business Model of a Bicentennial Company," Sustainability, MDPI, vol. 13(14), pages 1-37, July.
    2. Aid, Graham & Eklund, Mats & Anderberg, Stefan & Baas, Leenard, 2017. "Expanding roles for the Swedish waste management sector in inter-organizational resource management," Resources, Conservation & Recycling, Elsevier, vol. 124(C), pages 85-97.
    3. Chia‐Hao Ho & Steffen Böhm & David Monciardini, 2022. "The collaborative and contested interplay between business and civil society in circular economy transitions," Business Strategy and the Environment, Wiley Blackwell, vol. 31(6), pages 2714-2727, September.
    4. Margarida Rodrigues & Mário Franco, 2023. "Green Innovation in Small and Medium-Sized Enterprises (SMEs): A Qualitative Approach," Sustainability, MDPI, vol. 15(5), pages 1-12, March.
    5. Wisdom Kanda & Martin Geissdoerfer & Olof Hjelm, 2021. "From circular business models to circular business ecosystems," Business Strategy and the Environment, Wiley Blackwell, vol. 30(6), pages 2814-2829, September.
    6. Mark Anthony Camilleri, 2020. "European environment policy for the circular economy: Implications for business and industry stakeholders," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(6), pages 1804-1812, November.
    7. Daniel Macek, 2023. "A Tool for Evaluating Public Procurement in the Context of Life Cycle Costs," International Journal of Economic Sciences, European Research Center, vol. 12(1), pages 133-143, May.
    8. Neal R. Haddaway & Matthew J. Page & Chris C. Pritchard & Luke A. McGuinness, 2022. "PRISMA2020: An R package and Shiny app for producing PRISMA 2020‐compliant flow diagrams, with interactivity for optimised digital transparency and Open Synthesis," Campbell Systematic Reviews, John Wiley & Sons, vol. 18(2), June.
    9. Stephanie Lang & Giulia Minnucci & Matthias Mueller & Michael P. Schlaile, 2023. "The Role of Consumers in Business Model Innovations for a Sustainable Circular Bioeconomy," Sustainability, MDPI, vol. 15(12), pages 1-19, June.
    10. Luis Manuel Cerdá-Suárez & Juan Felipe Espinosa-Cristia & Karen Núñez-Valdés & Gerson Núñez-Valdés, 2023. "Detecting Circular Economy Strategies in the Fourth Sector: Overview of the Chilean Construction Sector as Evidence of a Sustainable Business Model," Sustainability, MDPI, vol. 15(11), pages 1-23, May.
    11. Mechthild Donner & Hugo de Vries, 2023. "Innovative Business Models for a Sustainable Circular Bioeconomy in the French Agrifood Domain," Sustainability, MDPI, vol. 15(6), pages 1-29, March.
    12. Riikka Tapaninaho & Anna Heikkinen, 2022. "Value creation in circular economy business for sustainability: A stakeholder relationship perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 31(6), pages 2728-2740, September.
    13. Florian Hofmann & Melanie Jaeger‐Erben, 2020. "Organizational transition management of circular business model innovations," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2770-2788, September.
    14. Mechthild Donner & Hugo de Vries, 2021. "How to innovate business models for a circular bio‐economy?," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 1932-1947, May.
    15. Leen Gorissen & Karl Vrancken & Saskia Manshoven, 2016. "Transition Thinking and Business Model Innovation–Towards a Transformative Business Model and New Role for the Reuse Centers of Limburg, Belgium," Sustainability, MDPI, vol. 8(2), pages 1-23, January.
    16. 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.
    17. Alberto Huerta Morales, 2020. "Exploring Paradoxical Tensions in Circular Business Models—Cases from North Europe," Sustainability, MDPI, vol. 12(18), pages 1-21, September.
    18. Filip Aggestam & Alexandru Giurca, 2022. "Implementing Circular-Bioeconomy Principles across Two Value Chains of the Wood-Based Sector: A Conceptual Approach," Land, MDPI, vol. 11(11), pages 1-18, November.
    19. Alessandro Gandolfo & Lorenzo Lupi, 2021. "Circular economy, the transition of an incumbent focal firm: How to successfully reconcile environmental and economic sustainability?," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 3297-3308, November.
    20. Stefano Poponi & Andrea Colantoni & Sirio R.S. Cividino & Enrico Maria Mosconi, 2019. "The Stakeholders’ Perspective within the B Corp Certification for a Circular Approach," Sustainability, MDPI, vol. 11(6), pages 1-15, March.
    21. Liang Li & Hajar Msaad & Huaping Sun & Mei Xuen Tan & Yeqing Lu & Antonio K.W. Lau, 2020. "Green Innovation and Business Sustainability: New Evidence from Energy Intensive Industry in China," IJERPH, MDPI, vol. 17(21), pages 1-18, October.
    22. Mechthild Donner & Hugo de Vries, 2023. "Innovative business models for a sustainable circular bioeconomy in the french agrifood domain," Post-Print hal-04047682, HAL.
    23. Luca Marrucci & Fabio Iannone & Tiberio Daddi & Fabio Iraldo, 2022. "Antecedents of absorptive capacity in the development of circular economy business models of small and medium enterprises," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 532-544, January.
    24. 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.
    25. Agnieszka D. Hunka & Marcus Linder & Shiva Habibi, 2021. "Determinants of consumer demand for circular economy products. A case for reuse and remanufacturing for sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 535-550, January.
    26. Albérico Travassos Rosário & Joana Carmo Dias, 2023. "The New Digital Economy and Sustainability: Challenges and Opportunities," Sustainability, MDPI, vol. 15(14), pages 1-23, July.
    27. Yu Gong & Shenghao Xie & Deepak Arunachalam & Jiang Duan & Jianli Luo, 2022. "Blockchain‐based recycling and its impact on recycling performance: A network theory perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 31(8), pages 3717-3741, December.
    28. Lina Sineviciene & Luc Hens & Oleksandr Kubatko & Leonid Melnyk & Iryna Dehtyarova & Svitlana Fedyna, 2021. "Socio-economic and cultural effects of disruptive industrial technologies for sustainable development," International Journal of Global Energy Issues, Inderscience Enterprises Ltd, vol. 43(2/3), pages 284-305.
    29. Fredrick Betuel Sawe & Anil Kumar & Jose Arturo Garza‐Reyes & Rohit Agrawal, 2021. "Assessing people‐driven factors for circular economy practices in small and medium‐sized enterprise supply chains: Business strategies and environmental perspectives," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 2951-2965, November.
    30. Md Tasbirul Islam & Usha Iyer-Raniga, 2023. "Circular Business Model Value Dimension Canvas: Tool Redesign for Innovation and Validation through an Australian Case Study," Sustainability, MDPI, vol. 15(15), pages 1-47, July.
    31. Amir Latif & Martha Fani Cahyandito & Gemilang Lara Utama, 2023. "Dynamic System Modeling and Sustainability Strategies for Circular Economy-Based Dairy Cow Waste Management," Sustainability, MDPI, vol. 15(4), pages 1-18, February.
    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. 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).
    2. 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.
    3. Barbara Brenner & Daria Drdla, 2023. "Business Model Innovation toward Sustainability and Circularity—A Systematic Review of Innovation Types," Sustainability, MDPI, vol. 15(15), pages 1-20, July.
    4. Elizaveta Averina & Johan Frishammar & Vinit Parida, 2022. "Assessing sustainability opportunities for circular business models," Business Strategy and the Environment, Wiley Blackwell, vol. 31(4), pages 1464-1487, May.
    5. Stephanie Lang & Giulia Minnucci & Matthias Mueller & Michael P. Schlaile, 2023. "The Role of Consumers in Business Model Innovations for a Sustainable Circular Bioeconomy," Sustainability, MDPI, vol. 15(12), pages 1-19, June.
    6. Subhalaxmi Mohapatra & Subhadip Roy & Arvind Upadhyay & Anil Kumar, 2024. "Circular value creation through environmental entrepreneurship initiatives: A case‐based exploration," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 3811-3831, July.
    7. Fabio Neves Puglieri & Rodrigo Salvador & Omar Romero‐Hernandez & Edmundo Escrivão Filho & Cassiano Moro Piekarski & Antonio Carlos de Francisco & Aldo Roberto Ometto, 2022. "Strategic planning oriented to circular business models: A decision framework to promote sustainable development," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 3254-3273, November.
    8. German Arana‐Landin & Waleska Sigüenza & Beñat Landeta‐Manzano & Iker Laskurain‐Iturbe, 2024. "Circular economy: On the road to ISO 59000 family of standards," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1977-2009, May.
    9. 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.
    10. Pina Puntillo & Carmela Gulluscio & Donald Huisingh & Stefania Veltri, 2021. "Reevaluating waste as a resource under a circular economy approach from a system perspective: Findings from a case study," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 968-984, February.
    11. Luca Fraccascia & Ilaria Giannoccaro & Abhishek Agarwal & Erik G. Hansen, 2021. "Business models for the circular economy: Empirical advances and future directions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(6), pages 2741-2744, September.
    12. 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).
    13. Manish Mohan Baral & Subhodeep Mukherjee & Rajesh Kr Singh & Venkataiah Chittipaka & Yigit Kazancoglu, 2023. "Exploring antecedents for the circular economy capability of micro, small and medium enterprises: An empirical study," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5785-5806, December.
    14. Adriana Neligan & Rupert J. Baumgartner & Martin Geissdoerfer & Josef‐Peter Schöggl, 2023. "Circular disruption: Digitalisation as a driver of circular economy business models," Business Strategy and the Environment, Wiley Blackwell, vol. 32(3), pages 1175-1188, March.
    15. Lukas Alexander Benz, 2022. "Critical Success Factors for Circular Business Model Innovation from the Perspective of the Sustainable Development Goals," Sustainability, MDPI, vol. 14(10), pages 1-18, May.
    16. Madanaguli, Arun & Sjödin, David & Parida, Vinit & Mikalef, Patrick, 2024. "Artificial intelligence capabilities for circular business models: Research synthesis and future agenda," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    17. Swee Kuik & Akhil Kumar & Li Diong & Joowon Ban, 2023. "A Systematic Literature Review on the Transition to Circular Business Models for Small and Medium-Sized Enterprises (SMEs)," Sustainability, MDPI, vol. 15(12), pages 1-22, June.
    18. Ingvild Reine Assmann & Francesco Rosati & Sandra Naomi Morioka, 2023. "Determinants of circular business model adoption—A systematic literature review," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 6008-6028, December.
    19. Jenni Kaipainen & Leena Aarikka‐Stenroos, 2022. "How to renew business strategy to achieve sustainability and circularity? A process model of strategic development in incumbent technology companies," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 1947-1963, July.
    20. Usama Awan & Robert Sroufe & Muhammad Shahbaz, 2021. "Industry 4.0 and the circular economy: A literature review and recommendations for future research," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2038-2060, May.

    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:gam:jsusta:v:16:y:2024:i:14:p:6092-:d:1436735. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.