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Source: Journal Citation ReportsTM from ClarivateTM 2022

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2023-11-15  |  Accepted: 2024-02-25  |  Published: 2024-03-30

Title

Towards a new framework of circular economy


Abstract

Although governmental institutions are talking loudly about the importance of businesses moving towards sustainability and adopting a circular economy (CE) approach, moving towards CE can take time for business companies. Business entities must review their business ideas and the possible implementation and adoption of their business processes towards more sustainable business activities. Adapting various sectors' business models towards the circular economy is not easy, and in many cases, there is a lack of motivation from business entities, as well as the knowledge and lack of confidence in starting changes, which can question the profitability of changing businesses. The difficulty of transition can be seen in various discussions in scientific publications. This article uses the literature review approach, comparison, synthesis, and analysis methods to collect and analyse CE principles and processes. The main goal of this article is to systematize all possible processes approaching CE in businesses and suggest a framework for CE, attributing processes into creative and technological categories. This created framework can better help business entities moving towards CE to plan the implementation of various business activities, reviewing and improving business ideas while preparing to move towards the CE approach. After analysing, systematizing, and comparing scientific literature about CE, a framework was developed that embraces a variety of processes that can ease changing business actions moving towards CE. The developed framework identifies two creative CE processes, six technological processes and one combined process containing creative and technological features.


Keywords

circular economy, circular economy processes, creative processes, technological processes, sustainability


JEL classifications

O11 , F64 , L00 , Q50


URI

http://jssidoi.org/jesi/article/1177


DOI


Pages

278-289


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Ruginė, Henrika
Klaipėda University, Klaipėda, Lithuania https://www.ku.lt
Articles by this author in: CrossRef |  Google Scholar

Žilienė, Rasa
Klaipėda University, Klaipėda, Lithuania https://www.ku.lt
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

11


Number

3


Issue date

March 2024


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 158  |  PDF downloads: 106

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