scholarly journals Circular economy management in business organizations using digital technologies

2021 ◽  
Vol 6 (1) ◽  
pp. 22-29
Author(s):  
Angelina Pavlović ◽  
Snežana Nestić ◽  
Goran Bošković
Keyword(s):  
Circular Economy ◽  
Economic Model ◽  
Business Models ◽  
Digital Technologies ◽  
Business Environment ◽  
Model Management ◽  
Full Potential ◽  
Business Organization ◽  
Business Organizations ◽  
Efficiency And Productivity

The circular economic model management in business organizations around the world depends on the emergence of innovations in technology, organizational forms and business models. The level of circularity of a business organization largely depends on the development of digital technologies. In a real dynamic business environment, digital technologies can be applied to capture the full potential of circular strategies for improving resource efficiency and productivity. By applying digital technology in business organizations, it is possible to monitor the process of transition of a linear economic model to a circular economic model. Therefore, this paper aims to review developed digital tools, which can be used to monitor the circular economy at the level of a business organization, in order to improve the decision-making process in the analyzed area.

“Enabling circular business models in the fashion industry: the role of digital innovation”

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Phuc Hong Huynh
Keyword(s):  
Business Model ◽  
Circular Economy ◽  
Business Models ◽  
Digital Technologies ◽  
Theory And Practice ◽  
Chain Model ◽  
Fashion Industry ◽  
Digital Innovation ◽  
Content Type ◽  
Radical Innovations

PurposeDigital innovation and circular business model innovation are two critical enablers of a circular economy. A wide variety of digital technologies such as blockchain, 3D printing, cyber-physical systems, or big data also diverges the applications of digital technologies in circular business models. Given heterogeneous attributes of circular business models and digital technologies, the selections of digital technologies and circular business models might be highly distinctive within and between sectorial contexts. This paper examines digital circular business models in the context of the fashion industry and its multiple actors. This industry as the world’s second polluting industry requires an urgent circular economy (CE) transition with less resource consumption, lower waste emissions and a more stable economy.Design/methodology/approachAn inductive, exploratory multiple-case study method is employed to investigate the ten cases of different sized fashion companies (i.e. large, small medium-sized firm (SME) and startup firms). The comparison across cases is conducted to understand fashion firms' distinct behaviours in adopting various digital circular economy strategies.FindingsThe paper presents three archetypes of digital-based circular business models in the fashion industry: the blockchain-based supply chain model, the service-based model and the pull demand-driven model. Besides incremental innovations, the radical business model and digital innovations as presented in the pull demand-driven model may be crucial to the fashion circular economy transition. The pull demand–driven model may shift the economy from scales to scopes, change the whole process of how the fashion items are forecasted, produced, and used, and reform consumer behaviours. The paths of adopting digital fashion circular business models are also different among large, SMEs and startup fashion firms.Practical implicationsThe study provides business managers with empirical insights on how circular business models (CBMs) should be chosen according to intrinsic business capacities, technological competences and CE strategies. The emerging trends of new fashion markets (e.g. rental, subscription) and consumers' sustainable awareness should be not be neglected. Moreover, besides adopting recycling and reuse strategies, large fashion incumbents consider collaborating with other technology suppliers and startup companies to incubate more radical innovations.Social implicationsAppropriate policies and regulations should be enacted to enable the digital CE transition. Market patterns and consumer acceptances are considered highly challenging to these digital fashion models. A balanced policy on both the demand and supply sides are suggested. The one-side policy may fail CBMs that entail an upside-down collaboration of both producers and consumers. Moreover, it is perhaps time to rethink how to reduce unnecessary new demand rather than repeatedly producing and recycling.Originality/valueThe pace of CE research is lagging far behind the accelerating environmental contamination by the fashion industry. The study aims to narrow the gap between theory and practice to harmonise fashion firms' orchestration and accelerate the transition of the fashion industry towards the CE. This study examines diverse types of digital technologies in different circular business models in a homogeneous context of the fashion industry with heterogeneous firm types.

A Socio-Economic Model for Developing Ethics Code in a Multicultural Environment

2016 ◽  
pp. 470-480
Author(s):  
Isaiah O. Ugboro ◽  
Chi Anyansi-Archibong
Keyword(s):  
Economic Model ◽  
Ethical Decision Making ◽  
Code Of Conduct ◽  
Business Environment ◽  
Integrative Approach ◽  
Business Organizations ◽  
Global Business ◽  
Multicultural Environment ◽  
Ethics Code ◽  
Intense Debate

As more and more business organizations assume global posture, the issue of what constitutes an ethical or unethical business conduct on the part of corporations and corporate officers has become a subject of intense debate without a generally accepted conclusion. This chapter proposes a socio-economic model for developing an ethics code of conduct in a global business environment. It considers the interaction between an organizational culture, leadership, and host country's national culture and sub-cultures, political system, and individual factors. It discusses the benefit and implications of such an integrative approach to ethical decision making.

scholarly journals Requirements for CFO Within The Business Model

2020 ◽  
Vol 1 (14) ◽  
pp. 186-191
Author(s):  
Rosita Zvirgzdina ◽  
Helena Skadina ◽  
Alida Vane
Keyword(s):  
Business Model ◽  
Business Environment ◽  
Chief Financial Officer ◽  
Business Organization ◽  
Business Organizations ◽  
Management Capability ◽  
Market Situation ◽  
New Business ◽  
Fierce Competition

The concept “Business modeling” has become commonplace in everyday business due to the rapidly changing market situation, fierce competition and digital transformation trend that affects every business. Other player can appear unexpectedly and bring a new business model to the market, typically fueled by innovative technologies and ideas, and render everyone else obsolete. To remain successful shifting of business environment is required as well as an updated management capability not only to modernize processes, but also to select, empower and appreciate workforce. One of the key roles in any business organization plays the Chief Financial Officer (CFO) that contributes and determines the wellbeing of the business. The role has become more important because of the new technological influence and therefore is more needed by business organizations. This paper aims to formulate requirements for CFO for companies that are going to establish a new business model or to reinvent the existing one. The result of this paper forms the basis for conclusions about the role of the CFO while modelling business, contribution to the modelling success and about requirements that the CFO has to meet.

scholarly journals The concept of a circular economy in the context of sustainable development

Ekonomika APK ◽  
2021 ◽  
Vol 318 (4) ◽  
pp. 88-94
Author(s):  
Inna Gryshova ◽  
Kateryna Nesterova
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Economic Model ◽  
Business Models ◽  
Regulatory Policy ◽  
The State ◽  
Practical Significance ◽  
Public Authorities ◽  
The World ◽  
Economic Tools

The purpose of the article is to identify key differences between the circularity and sustainability of the system, to develop the systematization of the circular economy principles, innovative business models aimed to ensure it, as well as regulatory measures of public authorities to stimulate and support circular economy taking into account a progressive foreign experience. Research methods. In the course of the research the method of comparative analysis (assessment of measures of state regulatory policy in some countries of the world), abstract-logical method (problem statement, substantiation of conclusions), monographic method (analysis of evolution of national and foreign scientists works on circular economy), dialectical methods of cognition were used. Research results. The peculiarities of the circular economy are highlighted, it is emphasized that the circularity of the system and sustainability are interrelated concepts, but not identical. It is determined that the circular economy is a set of economic tools and methods used to ensure the sustainable development of the system. It is substantiated that the introduction of a circular economic model requires a change or adaptation of current business models according to new conditions and needs of housekeeping. The main measures of the state regulatory policy of some countries of the world to support and stimulate such business models are analyzed. Scientific novelty. The theoretical basics of the circular economy have been further developed, the purpose of which is to ensure sustainable development by optimizing the use of resource potential and innovative business models with systematic governmental support. Practical significance. It is proved that the development of a circular economic model is impossible without an active state regulatory policy. The measures of the state regulatory policy on support of circular business models are offered. Tabl.: 2. Refs.: 20.

scholarly journals The role of digital technologies to overcome Circular Economy challenges in PSS Business Models: an exploratory case study

Procedia CIRP ◽  
2018 ◽  
Vol 73 ◽  
pp. 216-221 ◽  
Author(s):  
Gianmarco Bressanelli ◽  
Federico Adrodegari ◽  
Marco Perona ◽  
Nicola Saccani
Keyword(s):  
Circular Economy ◽  
Business Models ◽  
Digital Technologies ◽  
Exploratory Case Study

Digitisation and Sustainable Development: The Opportunities and Risks of Using Digital Technologies for the Implementation of a Circular Economy

2021 ◽  
Vol 7 (1) ◽  
pp. 17-23
Author(s):  
Benjamin Kottmeyer
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Business Models ◽  
Research Question ◽  
Digital Technologies ◽  
Theory And Practice ◽  
Social Outcomes ◽  
Social Progress ◽  
Future Research ◽  
Critical Social

Digitisation is developing a transformational potential that is profoundly changing people, our societies and the planet. Like any major societal transformation, it offers both, significant opportunities for progress and significant risks with harmful consequences for societies. This paper, therefore, addresses the question: ‘What are the critical social outcomes and concerns flowing from the advances in digitisation on our work environment?’ To discuss the broad research question in sufficient depth, this paper focuses not only on specific critical social outcomes of digitisation but also on how some of them can be mitigated by combining digital tools with the concept of a circular economy (representing the abstract idea of sustainable development). The implementation of blockchain technologies and new business models shows that digital technologies have the potential to close the realisation gap between theory and practice of the circular economy concept by enhancing the information flow and the communication between stakeholders in the value chain. Nonetheless, the implementation of these technologies also entails social and economic risks, such as power abuse or regulatory arbitrage, which should be considered in advance. To avoid jeopardising digital innovations, future research should therefore develop a more holistic and interdisciplinary understanding of the complex interactions to exploit the potential of digitisation for social progress.

scholarly journals IMPERATIVES OF THE DIGITAL ECONOMY DEVELOPMENT IN UKRAINE

2021 ◽  
Vol 06 (04(01)) ◽  
pp. 39-46
Author(s):  
Tetiana Halimon Tetiana Halimon
Keyword(s):  
Economic Development ◽  
Information And Communication Technologies ◽  
Business Models ◽  
Digital Technologies ◽  
Communication Technologies ◽  
Business Environment ◽  
Digital Economy ◽  
The World ◽  
Information And Communication ◽  
Traditional Economy

The priority vector of development of many countries of the world is digital transformation and creation of a hypercompetitive digital economy. The key trend of modern global economic development in all countries of the world is the rapid spread of information and communication, digital technologies and the development of the digital economy, which causes changes in the business environment, transaction methods and the level of connections between individual entities. The digital economy is an innovative dynamic economy based on the active introduction of innovations and information and communication technologies in all types of economic activities and spheres of society, which increases the efficiency and competitiveness of individual companies, the national economy and living standards. In the third wave of globalization, the digital economy plays an important role in the development of countries, the most important factor of which is information and knowledge, as well as ways to access them. Increasingly, the digital economy is intertwined with the traditional economy, making clear demarcations increasingly difficult. The main products of the digital economy are the same goods and services of the traditional economy provided by computer equipment and digital systems such as the global Internet. However, the rapid development of digitalization is becoming a source not only of new opportunities, but also of serious threats and problems for all segments of the population that need to be taken into account. That is, the digitalization of the economy and all spheres of public life, on the one hand, becomes a challenge and threat to established business models and successful strategies of behavior of enterprises in a market economy, on the other - opens new opportunities for improvement and competitive advantage. Digitalization has significant benefits for economic development. Benefits at the level of the whole society include: economic and social effect of digital technologies for business and society; improving the quality of life; increasing the productivity of all social labor; the emergence of new models and forms of business that can increase profitability and competitiveness; increasing the transparency of economic transactions and ensuring the possibility of their monitoring. Key words: digital economy, innovative activity, innovative development, competitiveness, scientific and technological progress, information and communication technologies, information society.

scholarly journals Application of digital technologies for sustainable product management in a circular economy – a review

2021 ◽  
Author(s):  
Magdalena Rusch ◽  
Josef Peter Schöggl ◽  
Rupert J. Baumgartner
Keyword(s):  
Circular Economy ◽  
Product Life Cycle ◽  
Business Models ◽  
Qualitative Content Analysis ◽  
Digital Technologies ◽  
Product Management ◽  
Comprehensive Overview ◽  
Design Assessment ◽  
Sustainable Product ◽  
The Internet Of Things

Digital technologies (DTs), such as the internet of things, big data, artificial intelligence or blockchain, are considered as enablers for a more sustainable and circular economy. So far, literature on these topics has mostly focused on specific DTs and sub-areas of sustainable product management (SPM). The aim of this paper is to provide a more comprehensive overview of current and potential examples of DT applications in SPM (e.g., product design/assessment, supply chain management, business models). The collected examples (n=146) were analyzed based on a systematic literature review, using quantitative and qualitative content analysis. Deductive and inductive analyses of the examples revealed the potential of DTs in terms of their useability along the product life cycle, their role as enablers for circular economy strategies and in specific SPM activities. DT application often entails only incremental improvements, e.g., increased efficiency of existing processes, with more radical forms of improvement remaining relatively scarce. There is clear room for greater adoption and optimization of DTs, in various areas of SPM, so as to accelerate the transition towards a more sustainable and circular economy.

Rethinking the production and consumption on the transition

2020 ◽  
Author(s):  
Heikki Ruohomaa ◽  
Vesa Salminen ◽  
Tapani Pöykkä
Keyword(s):  
Circular Economy ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technology ◽  
Transition Process ◽  
Business Environment ◽  
Raw Material ◽  
New Paradigm ◽  
Industrial Transformation ◽  
Fourth Industrial Revolution

<p><strong>Abstract.</strong> The new opportunities offered by technologies have caused societies to break through towards the fourth industrial transformation. It will change the whole society and its structures alongside the business and the transition process is still speeding. The world is also facing big megatrends like global warming, urbanization, digitalization, new revolutionary technologies.</p><p>Like the industrial revolutions before, the whole paradigm of society is changing, and it will happen also in the fourth industrial revolution, so there is a need to think how we should take a step towards to the new paradigm, so that we could be able to response to future challenges on sustainable way.</p><p>The fourth industrial revolution (4IR) technologies like sensor, IoT-platforms, artificial intelligence etc., give new possibilities to develop new, more efficient, more sustainable and more customer driven supply chain, prolong the lifetime of products and create new services and business models and this way reduce the use of materials of energy. There is also an argument to rethink the source of raw material, and in which extent the cities itself could be seen the source of needed materials and energy, by using new technology.</p><p>The move towards new ICT based technologies will happen unexpected fast, including exponential growth of data. That is the reason, why it is essential to understand the challenges of change and have a strategic view, identify the key elements and see the new opportunities in all levels of society development.</p><p>Circular Economy has been very much a hot topic in many discussions, but there has been quite little discussion about reengineering the value chains and production based on circular economy principles by using the new opportunities on 4IR technologies not only in production but also in creating service, which change the need/thinking of ownership and build new business models. In addition to this, the elements to improve business environment by local or national authorities and legislators.</p><p>Finland has is as a goal to develop to one of the leading countries in circular economy, In Finland, Forssa region is considered to be one of the most advanced region in bio-based circular economy.</p><p>In this article has been described the development of regional industrial symbiosis in order to have competitive of business and future development.</p>

How to harnesses digital technologies for pursuing business model innovation: a longitudinal study in creative industries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anjar Priyono ◽  
Baziedy Darmawan ◽  
Gunawan Witjaksono
Keyword(s):  
Case Studies ◽  
Business Model ◽  
Business Models ◽  
Digital Technologies ◽  
Business Environment ◽  
Business Model Innovation ◽  
Creative Industries ◽  
Future Research ◽  
Developed Country ◽  
Content Type

Purpose This study aims to investigate how manufacturing firms in the creative industries harness digital technologies to undertake business model innovation. Design/methodology/approach This study used in-depth case studies to examine the complex interplay between digital technologies and business model innovation. A longitudinal approach was selected to capture major events both within the firm and in the business environment. Building on the firm’s archival data, interviews and secondary data that was available to the public, the authors carefully analyzed impactful digital technology events and the firm’s responses to the technological changes that occurred over the period of 2004–2020. Findings The findings suggest that digital technologies alone are not sufficient for business model innovation to be successful; support from sociotechnical factors is also required. Additionally, firms should reinvent a new business model when the existing ones seem to start to diminish. Research limitations/implications In this study one firm was examined as the subject, using a qualitative method. This method allowed us to observe complex interplays among the resources required in business models. Future research can combine qualitative methods with computational case studies, which utilize a large volume of quantitative big data. Practical implications The results of this study suggest that managers must ensure that the resources within and outside organizations are loosely connected and are readily available to be mobilized for supporting business model innovation. To enable this, managers must prepare the required resources in advance. Originality/value The current findings add to a growing body of literature on business model innovation and digital technologies. In particular, this study describes the process of how a traditional firm from a least developed country pursues business model innovation with the support of digital technologies.

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