“…The circular economy is a well-rooted concept in the area of sustainable development (Geissdoerfer et al, 2017;Kirchherr et al, 2017;Schroeder et al, 2019;Horvath et al, 2019;Stankevičienė & Nikanorova, 2020), waste management (Ji et al, 2018), part of the intellectual concept of the green economy (D' Amato et al, 2017), as well as supply chain (Braz et al, 2018) were heavily discussed within public policy, as well as at the level of organization and business models (Michelini et al, 2017). CE is also associated with the model of industrial symbiosis, which assumes vital business networking to create values and competitive advantages (Yazan & Fraccascia, 2019), and industry 4.0 (Khan et al, 2021;Rajput & Singh, 2020;Ciliberto et al, 2021). CE is also recognized as an evolving approach aiming at the sustainable usage of various raw materials and natural resources (McDowall et al, 2017), requiring a move from the traditional approach or linear model of "take, make, use and dispose/waste" to the innovative approach based on circular model of "reduce, reuse, recycle, recover, remanufacture and redesign" (Jabbour et al, 2020).…”