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Business Innovation for Circular Economy

Author

Listed:
  • Alexandra Maria Spanu

    (“Ovidius” University of Constanta, Romania)

  • Ionela Munteanu

    (Bucharest University of Economic Studies, Romania “Ovidius” University of Constanta, Romania)

Abstract

This research explores the contribution that business innovation brings in driving the circular economy implementation within Europe, focusing on its economic, environmental, and societal impacts. Through a mixed-methods approach, the study examines technological progress, policy frameworks, and evolving consumer behaviors that promote sustainable business practices. Sectorspecific case studies demonstrate practical innovations, such as AI-enabled waste sorting, closedloop systems, and subscription-based models for electronics. Challenges, including financing gaps and fragmented regulations, are balanced by opportunities for technological advancements and collaborative initiatives. Using a comprehensive SWOT analysis, the study highlights pathways to strengthen circular economy strategies, encouraging greater policy coherence and stakeholder engagement. This research underscores Europe’s potential to lead in sustainability through integrated efforts, fostering resilience and long-term economic growth.

Suggested Citation

  • Alexandra Maria Spanu & Ionela Munteanu, 2024. "Business Innovation for Circular Economy," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 656-663, December.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:2:p:656-663
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    More about this item

    Keywords

    circular economy; business innovation; business practices; SWOT analysis;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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