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2023 | OriginalPaper | Chapter

Transformational Opportunities for Business Entities in the Circular Economy

Authors : Vladyslav Iakovenko, Roman Pavlov, Tetiana Pavlova, Oksana Levkovich

Published in: Circular Business Management in Sustainability

Publisher: Springer Nature Switzerland

Abstract

The study based on the available key principles of the circular economy functioning proposes a conceptual scheme of the circular economy ecosystem, which includes key elements such as the country’s population, investments, emissions, and GDP. The ecosystem also considers nine key principles of circular economy functioning, namely: refuse; reduce; reuse; repair; refurbish; remanufacture; repurpose; recycle; recover, which are integrated into functions and supported by them, namely: mining; production; consumption, service; reuse; processing; utilization, forming a chain of a closed cycle of usage of the raw materials, goods, and resources. The study also proposed a conceptual system-dynamic model of the circular economy ecosystem functioning, based precisely on its functions, presented in 7 blocks of the model. Each block covers the influence of circular economy principles on the model’s indicator elements. According to each block of functions, the authors offer opportunities to form new organizational structures that will support the viability of the circular economy concept, provide waste minimization, additional service and processing of goods and waste, and allow the closing of the cycle from extraction to disposal. Further research established the simulation experiments’ specifics and the opportunity to build the model blocks.

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Literature
12.
Metadata
Title
Transformational Opportunities for Business Entities in the Circular Economy
Authors
Vladyslav Iakovenko
Roman Pavlov
Tetiana Pavlova
Oksana Levkovich
Copyright Year
2023
DOI
https://doi.org/10.1007/978-3-031-23463-7_6

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