Integrating circular economy strategies and business models: a systematic literature review

Abstract

Purpose This study aims to undertake a review of the circular economy (CE) and business model (BM) literature by conducting a thematic analysis and developing a framework. Design/methodology/approach To address the research questions, a systematic literature review was conducted. Finally, 106 publications were chosen based on two main criteria. Findings The authors performed an athematic analysis of CE drivers. This analysis identifies five key areas: environmental, economic, social, regulatory and institutional factors, as well as emerging approaches for addressing CE drivers. A framework for the circular economy business model (CEBM) has been developed by integrating BM value dimensions and three primary CE strategies, including closing, slowing and narrowing resource loops. Additionally, the authors’ framework considers the CEBM’s sustainability impact in emerging economies. Research limitations/implications This study is limited in two ways: one is inherent in the concept of CE, particularly CEBM, and the other is methodological. Originality/value This study contributes to the body of knowledge about CE and BM in three ways. First, this research includes a thematic analysis of CE drivers, as well as themes and subthemes. Additionally, the authors discuss an emerging approach for CE drivers. Second, the authors make a contribution by proposing a framework for CEBM that takes value dimensions and CE strategies into account for the emerging economy context. Third, the authors shed light on potential avenues for further research.

The Intersection of Geology and Business Sustainability: A Data-Driven Review of U.S. Corporate Environmental Strategies

“…This approach began with a careful reading and re-reading of the literature, noting initial ideas and observations. Themes were then developed from these initial observations, capturing important aspects of the data in relation to the research questions (Foroozanfar, Imanipour & Sajadi, 2022). This method facilitated a detailed and nuanced understanding of the complex interactions between geology and business sustainability.…”

“…In synthesizing these findings, the review also considered the broader implications of integrating geology into business sustainability. This included examining how businesses can leverage geological data to innovate and maintain a competitive edge while adhering to principles of environmental stewardship and social responsibility (Xie & Hanafiah, 2023;Foroozanfar, Imanipour & Sajadi, 2022). The thematic analysis thus provided a comprehensive overview of the current landscape of research in this area, offering valuable insights for businesses, policymakers and researchers interested in the intersection of geology and business sustainability.…”

Pushing Forward the Transition to a Circular Economy by Adopting an Actor Engagement Lens

“…Firms, in turn, may only embrace CBMs when they expect to benefit financially, for instance by reducing their energy consumption when opting for CBMs with efficient technical-material loops (Okorie et al 2021) or having new opportunities to create and capture value with other types of CBMs (Todeschini et al 2017). To increase circular economy engagement in relation to these CBMs, extant research calls for making their economic benefits explicit and promoting them (Veleva and Bodkin 2018) and/or providing concrete evidence about their economic potential—for instance, with the help of information management systems (Foroozanfar, Imanipour, and Sajadi 2022).…”

“…Think about material passports, RFID tags, and blockchains that promote traceability of products and materials (Iacovidou, Hahladakis, and Purnell 2021; Ingemarsdotter, Jamsin, and Balkenende 2020; Munaro et al 2021). Finally, circular economy engagement is fostered when infrastructural support enables actors to communicate with one another, for instance, by offering tools for sharing best practices in terms of circularity (Moggi and Dameri 2021) and online sharing platforms (Foroozanfar, Imanipour, and Sajadi 2022).…”

ESG quality management: Тhe role of digital business transformation

“…современный бизнес активно реализует стратегии перехода на циркулярную модель экономики, что представляет собой передовой подход в ответственном управлении [Salvador et al, 2021;Foroozanfar, Imanipour, Sajadi, 2022]. также в теории и практике управленческих инноваций осуществляются ESG-инновации [Zhang, Qin, Liu, 2020;Chouaibi, Chouaibi, 2021].…”