IDEAS home Printed from https://ideas.repec.org/a/neo/journl/v17y2020i1p99-107.html
   My bibliography  Save this article

Principles Of The Circular Economy

Author

Listed:
  • Elizabeta Stamevska

    (European University, Skopje, Faculty of Economics)

  • Aleksandra Stankovska

    (European University, Skopje, Faculty of Economics)

  • Vasko Stamevski

    (International Slavic University "Gavrilo Romanovikj Derzhavin" Sveti Nikole - Bitola)

Abstract

Sustainability has become a vital part of many business strategies in the companies, which has prompted growing interest in the circular economy. While the terms circular economy and sustainability are increasingly gaining traction with academia, industry, and policymakers, the similarities and differences between both concepts remain ambiguous. The holistic view is fundamental to understanding the circular economy, which is not simply focused on using less. The circular economy aims to keep products, comp onents and materials at their highest utility and value at all times. It is restorative and regenerative, and ultimately does reduce resource consumption. But it is also a classic economy in the sense that all activities are aimed at generating an economic benefit. The circular economy aims to keep products, components and materials at their highest utility and value at all times. It is restorative and regenerative, and ultimately does reduce resource consumption. But it is also a classic economy in the sense that all activities are aimed at generating an economic benefit

Suggested Citation

  • Elizabeta Stamevska & Aleksandra Stankovska & Vasko Stamevski, 2020. "Principles Of The Circular Economy," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 17(1), pages 99-107.
  • Handle: RePEc:neo:journl:v:17:y:2020:i:1:p:99-107
    as

    Download full text from publisher

    File URL: http://em.swu.bg/images/SpisanieIkonomikaupload/SpisanieIkonomika2020/_vol.XVII_issue_1_2020-99-107.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Raya Madgerova & Vyara Kyurova, 2019. "Specifics Of Entrepreneurship In The Field Of Cultural And Creative Industries," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 7(2), pages 103-123.
    2. Karolin Frankenberger & Tobias Weiblen & Michaela Csik & Oliver Gassmann, 2013. "The 4I-framework of business model innovation: a structured view on process phases and challenges," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 18(3/4), pages 249-273.
    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. Best, Bernadette & Miller, Kristel & McAdam, Rodney & Maalaoui, Adnane, 2022. "Business model innovation within SPOs: Exploring the antecedents and mechanisms facilitating multi-level value co-creation within a value-network," Journal of Business Research, Elsevier, vol. 141(C), pages 475-494.
    2. Claudia Aparecida De Mattos & Thiago Lourenço Meira De Albuquerque, 2018. "Enabling Factors and Strategies for the Transition Toward a Circular Economy (CE)," Sustainability, MDPI, vol. 10(12), pages 1-18, December.
    3. Gerrit Remane & Andre Hanelt & Jan F. Tesch & Lutz M. Kolbe, 2017. "The Business Model Pattern Database — A Tool For Systematic Business Model Innovation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-61, January.
    4. Anna M. Hansson & Eja Pedersen & Niklas P. E. Karlsson & Stefan E. B. Weisner, 2023. "Barriers and drivers for sustainable business model innovation based on a radical farmland change scenario," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(8), pages 8083-8106, August.
    5. Ancillai, Chiara & Sabatini, Andrea & Gatti, Marco & Perna, Andrea, 2023. "Digital technology and business model innovation: A systematic literature review and future research agenda," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    6. Sagit Barel-Shaked, 2023. "Network-based business model in the agri-food sector: A case study of Green Fingers," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 69(4), pages 162-170.
    7. Sascha Kraus & Alexander Brem & Miriam Schuessler & Felix Schuessler & Thomas Niemand, 2019. "Innovative Born Globals: Investigating the Influence of Their Business Models on International Performance," World Scientific Book Chapters, in: Alexander Brem & Joe Tidd & Tugrul Daim (ed.), Managing Innovation Internationalization of Innovation, chapter 11, pages 275-328, World Scientific Publishing Co. Pte. Ltd..
    8. Paola Lara Machado & Montijn Ven & Banu Aysolmaz & Oktay Turetken & Jan Brocke, 2024. "Navigating Business Model Redesign: The Compass Method for Identifying Changes to the Operating Model," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 66(5), pages 607-638, October.
    9. Nancy Bocken & Lars Strupeit & Katherine Whalen & Julia Nußholz, 2019. "A Review and Evaluation of Circular Business Model Innovation Tools," Sustainability, MDPI, vol. 11(8), pages 1-25, April.
    10. Payam Hanafizadeh & Parastou Hatami & Morteza Analoui & Amir Albadvi, 2021. "Business model innovation driven by the internet of things technology, in internet service providers’ business context," Information Systems and e-Business Management, Springer, vol. 19(4), pages 1175-1243, December.
    11. Vyara Kyurova & Blagovesta Koyundzhiyska-Davidkova, 2021. "Challenges For The Development Of Community Centres (Chitalishte) In The Conditions Of Covid-19," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 9(1), pages 56-63.
    12. Elena Simina Lakatos & Lucian-Ionel Cioca & Viorel Dan & Alina Oana Ciomos & Oana Adriana Crisan & Ghita Barsan, 2018. "Studies and Investigation about the Attitude towards Sustainable Production, Consumption and Waste Generation in Line with Circular Economy in Romania," Sustainability, MDPI, vol. 10(3), pages 1-25, March.
    13. Somendra Narayan & Jatinder S. Sidhu & Henk W. Volberda, 2021. "From Attention to Action: The Influence of Cognitive and Ideological Diversity in Top Management Teams on Business Model Innovation," Journal of Management Studies, Wiley Blackwell, vol. 58(8), pages 2082-2110, December.
    14. Egfjord, Kathrine Friis-Holm & Sund, Kristian J., 2020. "Do you see what I see? How differing perceptions of the environment can hinder radical business model innovation," Technological Forecasting and Social Change, Elsevier, vol. 150(C).
    15. Vinicius Minatogawa & Matheus Franco & Izabela Simon Rampasso & Maria Holgado & Diego Garrido & Hernan Pinto & Ruy Quadros, 2022. "Towards Systematic Sustainable Business Model Innovation: What Can We Learn from Business Model Innovation," Sustainability, MDPI, vol. 14(5), pages 1-35, March.
    16. Ida K. Rovanto & Anu Bask, 2021. "Systemic circular business model application at the company, supply chain and society levels—A view into circular economy native and adopter companies," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 1153-1173, February.
    17. Kubli, Merla & Puranik, Sanket, 2023. "A typology of business models for energy communities: Current and emerging design options," Renewable and Sustainable Energy Reviews, Elsevier, vol. 176(C).
    18. Lygnerud, Kristina & Popovic, Tobias & Schultze, Sebastian & Støchkel, Hanne Kortegaard, 2023. "District heating in the future - thoughts on the business model," Energy, Elsevier, vol. 278(C).
    19. Aristides Papathomas & George Konteos, 2022. "Digital Transformation Journey for Incumbent Banks: The Case Study of Greece," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 14(2), pages 1-13, December.
    20. Günther, Elmar & Greven, Gunther, 2019. "Geschäftsmodellinnovationen etablierter Unternehmen: Eine literaturbasierte Darstellung der Herausforderungen und Ansätze am Fallbeispiel der BMW Impact Ventures," PraxisWISSEN Marketing: German Journal of Marketing, AfM – Arbeitsgemeinschaft für Marketing, vol. 4(01/2019), pages 32-44.

    More about this item

    Keywords

    circular economy; principles; sustainability; circular economy model; green economy.;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other

    Statistics

    Access and download statistics

    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:neo:journl:v:17:y:2020:i:1:p:99-107. 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: Vladislav Krastev (email available below). General contact details of provider: https://edirc.repec.org/data/feswubg.html .

    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.