scholarly journals A New Concept of Circular Model of Management for Achieving Sustainable Success and Growth

2020 ◽  
pp. 1-17
Author(s):  
Keerthan Raj ◽  
P. S. Aithal
Keyword(s):  
Sustainable Development ◽  
Environmental Economic ◽  
Circular Economy ◽  
Sustainable Growth ◽  
International Institute ◽  
Business Practices ◽  
Base Of The Pyramid ◽  
Sustainable Business ◽  
Circular Model ◽  
Model Of Management

According to the International Institute for Sustainable Development (IISD), sustainable development has been defined in many ways, and it states that: “Sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” We have seen a lot of focus on sustainable development starting from the initiative of the United Nations which has made all nations focus on Sustainable Goals to be achieved by 2030, to large conglomerates and small business enterprises likewise focussing on sustainable business practices, which if well planned would yield success and growth. In light of the global challenges faced in relation to environmental, economic and social resources sustainable development leading to sustainable success and growth calls for a significant rethinking in the management of resources within the, and external to the organization. In this paper, we propound the furthering of a circular economy concept to management as ‘circular model of management’. Borrowed from the concept of circular economy, a circular economy (as against a linear economy) is an economic system aimed at minimizing waste and making the most of resources. Moving towards a circular economy delivers benefits such as reducing pressure on resources, increases competitiveness, stimulates innovation and boosts growth. This study is developed through extensive work in subsistence communities (base of the pyramid customers) in emerging markets. A circular economy promotes social, environmental, economic and overall restorative and regenerative capabilities, similarly, a circular model of management will as envisaged promote regenerative and restorative capability in the organization which will ensure sustainable growth and success by means of ensuring the reduction of leakage of resources to the minimum and applicability to the maximum.

A Sustainable Business Model in the Functioning of Enterprises as the Base for Creating Circular Economy

2020 ◽  
pp. 54-81 ◽  
Author(s):  
Elżbieta Lorek ◽  
Agnieszka Lorek
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Public Awareness ◽  
Sustainable Growth ◽  
Sustainable Business ◽  
Organizational Governance ◽  
European Guidelines ◽  
The Social ◽  
Solution Models ◽  
A Company

Circular economy was the subject of interest for many researchers and is currently an inherent part of the sustainable growth concept. Shifting the economy to circular will require transformations in the field of competence, development, innovations, and organizational governance, as well as public awareness. Circular economy creates opportunities for achieving benefits in the economy (the efficiency of production processes, innovations, power safety) as well as in the social and environmental fields (shaping ecological safety). In the chapter, the authors describe such issues as theoretical foundations of the circular economy concept; European guidelines in the field of circular economy; problems and benefits associated with the implementation of circular economy, in light of compliance with sustainable development principles; business solution models together with the prospects for further sustainable development of a company, based on assumptions and models of circular economy.

Responsible entrepreneurship: outlining the contingencies

2019 ◽  
Vol 25 (3) ◽  
pp. 538-553 ◽  
Author(s):  
Christine Vallaster ◽  
Sascha Kraus ◽  
Norbert Kailer ◽  
Brooke Baldwin
Keyword(s):  
Sustainable Development ◽  
Literature Review ◽  
Value Creation ◽  
Business Models ◽  
Responsible Innovation ◽  
Future Research ◽  
Business Practices ◽  
Sustainable Business ◽  
Society Business ◽  
Content Type

PurposeThe purpose of this paper is to give an up-to-date assessment of key topics and methods discussed in the current literature on responsible entrepreneurship. In the past years, sustainable development itself has become a more popular and important topic in the academic literature and hence the field of sustainable entrepreneurship has become a greater topic of interest and opportunity for solution. Therefore, a systematic literature review is conducted to assess new contributions to the field and its potential for the future of sustainable development, with a focus on responsible innovation.Design/methodology/approachSystematic, evidence-informed literature review following Tranfieldet al.(2003).FindingsBased on a conceptual literature review, five streams of research that responsible entrepreneurs distinguish from purely for-profit entrepreneurs are identified and discussed: walking the line between profit creation and value creation for society; business models of responsible entrepreneurs; their role in transforming society; getting ready to innovate responsibly; and the role of market incentives to foster sustainable business practices.Originality/valueThe structured literature review allows to identify future research paths. In detail, ideas as regards the management of upcoming tensions when trying to combine profit creation and value creation for society, and finally, the way innovation processes need to be rethought when innovating responsibly are discussed and outlined.

The Challenges of Sustainable Business Development in the Post-Industrial Society in the First Half of the 21st Century

2018 ◽  
pp. 1-22 ◽  
Author(s):  
Vasja Roblek ◽  
Ivan Erenda ◽  
Maja Meško
Keyword(s):  
Sustainable Development ◽  
21St Century ◽  
Business Models ◽  
Sustainable Growth ◽  
Industrial Society ◽  
Sustainable Business ◽  
The Sustainable Development ◽  
Non Profit ◽  
Post Industrial

The purpose of the chapter is to find out the meaning of the sustainable development in the post-industrial society in the first half of the 21st century. The financial crisis that started in 2008 is an indicator of how short-term profitability mindsets and related strategies, policies and actions of individuals and individual organizations can cause global economic, ecological and ethical crises. These events have contributed to the judgement that most organizations operate on business models that are not sustainable. The conceptual content contributes to the ongoing discussion about the increasingly important role of sustainable development as a major concern for the profit and non-profit sector that wish to develop the policies that will enable low but sustainable growth of society.

Biomimetic economy: human ecological-economic systems emulating natural ecological systems

2019 ◽  
Vol 15 (6) ◽  
pp. 772-785
Author(s):  
Unai Tamayo ◽  
Gustavo Vargas
Keyword(s):  
Sustainable Development ◽  
Business Models ◽  
Basque Country ◽  
Ecological Systems ◽  
Economic Systems ◽  
Business Practices ◽  
Levels Of Abstraction ◽  
Sustainable Business ◽  
Content Type ◽  
The Sustainable Development

Purpose The purpose of this paper is to examine the use of biomimicry to inspire sustainable development in economic systems. The research purpose is to explore the link between ecological systems and economic systems to highlight applied environmental solutions. The goal is to propose some driver to develop sustainable business practices inspired on the principles of biomimicry. Design/methodology/approach This paper provides a theoretical approach that builds the basis for a better understanding of the relationship between nature and sustainable economic decisions. The premise is that in the field of sustainable development, strategies based on “learning from nature” are useful. Furthermore, the concept of biomimicry provides principles and tools specifically aimed at design practice. Findings The complexity of economic systems has shown that high levels of abstraction are required when conceptualising problems and explanations related with nature-inspired solutions. Stakeholder engagement and transdisciplinary collaboration are required to face long-term environmental challenges. Moreover, the exploratory analysis applied in this paper appeared suitable to compile existing literature. Practical implications The study provides some general guidelines and empirical approach through case studies that could help decision makers convert nature-inspired alternatives into valuable strategic business opportunities. Although presented practical cases are framed in the local sphere (i.e. the Basque Country), they can serve as references in other international contexts. Social implications New business models should recognize the positive synchronization between well-managed social, environmental and economic systems. Originality/value The proposed ideas deepen the understanding on the sustainable development and the link between ecological and economic systems. In fact, the concept of biomimetic economy has not been dealt with or developed in depth in previous academic works, nor has it been published thoroughly in the field of research.

scholarly journals Circular Economy as a Management Model in the Paradigm of Sustainable Development

Management ◽  
2018 ◽  
Vol 22 (2) ◽  
pp. 217-233 ◽  
Author(s):  
Eulalia Skawińska ◽  
Romuald I. Zalewski
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Management Practice ◽  
Unique Contribution ◽  
The European Union ◽  
Holistic Model ◽  
Systematic Analysis ◽  
Current State ◽  
Model Of Management

Summary The following paper explores circular economy as a model of management within the framework of sustainable development. Its structure comprises 4 parts. The first part illustrates the role of sustainable development as an emerging paradigm in the theory of modern economics and in the recent policy of the European Union. In the second part, the authors demonstrate the applicability of sustainable development based on the relevant management models on the micro, meso and macro levels of economy. The third part discusses the concept of circular economy, in particular the various definitions of the phenomenon, its advantages over the linear economy, the role of innovations in its development and how to overcome barriers to its application. The fourth part outlines the current state of implementation of the circular economy in the EU in regard to its normative implications for the member countries. The conclusions close the exploration. The paper is theoretical, based on the review of the international literature on the subject. The unique contribution of the authors consists of the systematic analysis of the term circular economy as a holistic model of sustainable development and of illustrating the benefits of its promotion in the management practice.

scholarly journals An Innovative Approach to the Implementation of Sustainable Business Ideology in Ukraine

2021 ◽  
Vol 77 (4) ◽  
pp. 48-63
Author(s):  
Borys Burkynskyi ◽  
Natalya Andryeyeva ◽  
Nina Khumarova ◽  
Katyeryna Konstetska
Keyword(s):  
Sustainable Development ◽  
Innovation Policy ◽  
Methodological Approach ◽  
Expert Assessment ◽  
Business Practices ◽  
Sustainable Business ◽  
Business Decision ◽  
Economic Criterion ◽  
The Social ◽  
The Impact

According to the Sustainable Development Goals (UN, 2015), making sustainable business decisions should be the driving force in achieving environmentally-oriented improvements. The key document that supports the 10 principles that ensure SDGs is the United Nations Global Compact Strategy 2021–2023 (UN, 2021). Achieving the goals of the Strategy requires the use of an improved business decision-making model that simultaneously increases revenues and revises the distribution of domestic funds for meeting the principles in the sphere of human rights, economic growth, satisfactory working conditions and the environment, and combating corruption as a key driver of corporate sustainability and responsible business practices. The authors have developed a methodological approach to the assessment of business sustainability, which is based on a combination of elements: analysis of world best practices and trends, determination of the impact of business on the social status and environment, quality assessment of relevant certification, and analysis of compliance with social indexes of sustainable development. The analysis of economic indicators of sustainable business (The B Impact Assessment, 2021) for 2020–2021 allowed singling out companies that finance the environmental sphere. Today, a quarter of the world’s countries carry on sustainable business and finance the environmental degradation impact. The 8 leaders include: France, USA, Brazil, India, Germany, Norway, Ireland and South Korea. Methods of rating and expert assessment constitute an applied aspect of research for identification of prospects of sustainable business formation in Ukraine in the regional context. The result shows that only 8 regions are suitable for sustainable business conduct, while the environmental criterion is more than 9.2 points of 10, the economic criterion does not exceed 5, and the social criterion is 4.02–5.02. Therefore, it is necessary to focus on the organization of sustainable business according to the key strategic state priorities in formation of the mechanisms for the investment and the innovation policy of a sustainable development support system through the use of regulatory tools for reformation of existing business approaches to internationally regulated ones, such as business for nature.

scholarly journals The Concern of Energy Companies in Obtaining and Maintaining their Sustainable Value

2022 ◽  
Author(s):  
Camelia Cătălina Mihalciuc ◽  
◽  
Maria Grosu ◽  
Keyword(s):  
Sustainable Development ◽  
Social Relations ◽  
Corporate Sustainability ◽  
Business Practices ◽  
Traditional Role ◽  
Sustainable Business ◽  
Business And Human Rights ◽  
Environmental Objectives ◽  
Competitive Prices ◽  
Energy Companies

The last years are distinguished by increasing the awareness of companies towards sustainable business, going beyond their traditional role of providing goods and services at competitive prices to meet customer requirements. Thus, companies will have to consider the effects of their best practices on the environment and society, in order to contribute to the progress of society and the protection of the environment, the essence of sustainable development being the coexistence of economic and social relations and environmental protection by implementing economic, social and environmental objectives. We can see that every company that seeks to become sustainable must consider approaches based on sustainable business practices geared to meeting customer needs. For companies listed on the stock market, the index that stands next to each company is the one that shows the level of sustainability, through corporate sustainability, long-term value is created for shareholders, taking into account all social factors, those related to the environment, as well as economic ones. All these considerations have led to the establishment of the general objective of the paper, through which the authors aim to explain and present the importance of sustainability/sustainable development in energy companies in conjunction with the UN guidelines on business and human rights, which will address with priority to the Sustainable Development Goals (SDGs) for 2030.

Strategic guidelines for the development of bioenergy potential of agricultural enterprises in the transition to a circular economy

2019 ◽  
pp. 144-151
Author(s):  
Ihor Yatsiv ◽  
Mykhaylo Stupen ◽  
Nadiya Pylypiv ◽  
Diana Shelenko
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Business Models ◽  
Agricultural Sector ◽  
Agricultural Waste ◽  
Successful Implementation ◽  
Strategic Orientations ◽  
Circular Model ◽  
Long Run ◽  
Strategic Goals

Given the limited volume of natural resources and the trend towards population growth, the existing linear model of take-use-recycling economy needs rethinking. The idea that underlies the circular model of the economy, according to which goods of today are to become resources of tomorrow, is becoming increasingly relevant. Under these conditions, the agricultural sector must, first of all, ensuring food security, intensify the production of biomass as a renewable source of energy, since bioresources and biomass make up the highest share in agriculture. The article summarizes and proposes the strategic goals and guidelines for the development of the bioenergy component of agriculture. In Ukraine, a significant amount of biomass is produced annually, which is not used efficiently. Instead of addressing the needs of the energy sector, the lion’s share of waste is recovered through incineration, which in itself causes significant damage to the environment in general and the economy in particular. It has been researched that the potential of bioenergy largely depends on the geographical distribution and availability of existing waste and by-products on the one hand, and on the overall strategic orientations of the sector’s development on the other. The article analyzes the strategic goals of the rational use of agricultural waste for bioenergy production, which would certainly be economically viable and contribute to the sustainable development of the state’s economy. Strategic guidelines that are formulated in terms of the requirements and constraints of the circular economy are also offered. They are: 1) Use biomass that is obtained only on the basis of the principle of sustainability; 2) Promote the use of research, development and innovation at various stages; 3) Adhere to the principles of optimal use of bioresources; 4) Transformation of business models of players in the bioenergy market. Successful implementation of the circular business model in the agricultural sector must take into account the interests of all market participants, based on the principle of sustainable development. At the stage of transformation from a linear to a circular economy, the agricultural sector needs to change its existing business models in order to increase its innovation component, improve its logistics processes, develop a strategy for realizing its existing bioenergy potential and sustainable economic development in general. It should be understood that the benefits expected from the bioenergy sector are only possible in the long run.

Students’ perceptions of education for sustainable development in the accounting and business curriculum at a business school in New Zealand

2014 ◽  
Vol 22 (2) ◽  
pp. 130-148 ◽  
Author(s):  
Umesh Sharma ◽  
Martin Kelly
Keyword(s):  
Sustainable Development ◽  
New Zealand ◽  
Business School ◽  
Business Students ◽  
Education For Sustainable Development ◽  
Business Practices ◽  
Business Curriculum ◽  
Development Education ◽  
Sustainable Business ◽  
Content Type

Purpose – The purpose of this paper is to explore students’ perceptions and understandings of, and attitudes towards, education for sustainable development (ESD) at Delta Business School (DBS) in New Zealand[1]. The aim is to extend the limited literature on students’ perceptions of ESD within an accounting and business curriculum. Design/methodology/approach – To ascertain the students’ evaluations of their ESD, a survey was administered to 60 accounting and business students at DBS. The survey data were supplemented with interview evidence from 20 of the 60 students to obtain a deeper understanding of the students’ evaluations. Findings – A majority of the students perceive ESD as a “good thing.” Students were supportive of the sustainable business learning experience offered at DBS. The results suggest that students’ knowledge of sustainable business practices improved significantly from their studies. Practical implications – The paper should assist education providers to assess how students perceive ESD. This may help bring about changes, to improve the teaching of sustainable development. Universities can be the main providers of ESD, but other educational providers such as the professional accounting bodies will also need to manage the development of ongoing education processes. Most students at DBS believe they are obtaining a good understanding of the concept of sustainability. Originality/value – There is a shortage of research concerning how students perceive sustainable development education. This paper contributes to the discussion of what to incorporate in sustainable education programmes, to help students properly to understand sustainable development. We believe accounting and business education should develop graduates into broad-minded thinkers with a capacity for independent and critical thought. This will prepare them for future leadership roles.

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