scholarly journals Circular Economy: The Strategies to Global Business Economics

Author(s):  
Woodrow W. Clark II ◽  
Danilo Bonato
Author(s):  
Imre Sabahat Ersoy

Innovative managerial thinking in global business economics necessitates the follow-up of the developments in the international regulatory framework of risk management for strategic decision making. The risk management framework which evolved from Basel I to Basel III (or with the December 2017 finalizations, the way the market calls it “Basel IV”) in the world economies and Capital Requirements Directive (CRD) V and Capital Requirements Regulation (CRR) II in the European Union have been game changers. Global managers need to take strategic decisions in this new international risk management setting in order to succeed in the competitive global business environment. For effective capital management, risk function and finance function should come together. For effective implementation, this mix should be supported by establishing partnership among the risk, finance, and strategy groups.


2007 ◽  
Vol 26 (4) ◽  
pp. 247-255
Author(s):  
Khubaib Ahmed Qureshi ◽  
Mansoor-uz-Zafar Dawood

In improving global business economics, business integration has become a key issue for many companies to extend business market by integrating and streamlining processes both internally and with partners, cost effectively. To address this issue, whole marketplace has emerged for efficient software solution that can help to achieve improved business integration for improving global business economics, which is referred as EAI. Originally EAI was only focused around integrating ERP with other applications within enterprise but now it is generally used as a catch-all term to cover all the other aspects of global business integration. Major EAI approaches and evolution of enabling technologies ranging from EDI to Web Services and XML-based process integration are analyzed to provide cost effective, flexible, scalable and adaptable global EAI framework. Solution comprises the challenge of efficiently integrating diverse business processes and data across the enterprises to improve global business economics, while allowing the organizations to keep pace with and respond to market changes.


Author(s):  
Barbara Brenner

We examine how external triggers, including the digital imperative and the need for more sustainable resource and stakeholder employment, spark the development of transformative sustainable business models. Drawing on the resource-based view and the shared value approach we conceptualize a multifaceted framework that helps to identify key determinants and coherent layers of transformative sustainable businesses models. Our theoretical arguments integrate recent research findings on external dynamics, such as digital technological advances and rising global competitive dynamics, with internal capabilities on both the organizational and the individual level, allowing for a more complete understanding of transformative potentials on the firm level. We propose that key determinants of sustainable transformative business models adhere to both, innovative value-creating reconstructionist and sustainable shared-value logic, and include elements such as co-creation with customers, usage-based pricing, agile and adaptive behavior, closed-loop resource employment, asset-sharing, and collaborative business ecosystems. At the same time, organizational, economic, and environmental layers encompassing sustainable business models need to be both horizontally and vertically coherent to unfold their full potential.


2020 ◽  
Vol 184 (7-8) ◽  
pp. 4-15
Author(s):  
Andriy Krysovatyy ◽  
◽  
Roman Zvarych ◽  
Iryna Zvarych ◽  
Ihor Krysovatyy ◽  
...  

The transition from a linear to a circular economy is determined by the change in the positioning of global risks from year to year, which determines the vectors of such changes. Thus, the main risks for 2020 are those related to the environment and occupying the first positions in the rating for the last three years (in particular, in 2019, the risk of extreme weather events). The gradual increase in awareness of this risk has led to a change in the sentiment of both producers and consumers. Experts assessed climate change as a major risk in 2019, outpacing cyberattacks, financial instability and terrorism. Thus, to mitigate this risk in 2020 and future periods, the global business community should implement circular «designs», reducing resource use and prioritizing low carbon materials. The potential effects of the transition to a circular economy on greenhouse gas emissions are significant, mainly achieved by improving resource efficiency, increasing the useful life of buildings and assets, increasing recycling and reuse, and completely reducing primary raw material use. Thus, the circular economy can be seen as an effective strategy for promoting climate change mitigation. The poly-paradigmatic nature of economic knowledge from the standpoint of the existential nature of the imperatives of economic development in the context of responsibility to the global future causes certain paradigm shifts, and greening is the mainstream and imperative that reflects the heterodox beginning of the theorico-cyclological methodology. Multidisciplinary epistemological perspective for the analysis of economic phenomena from the standpoint of the new pragmatism in the context of the «triad» of sustainability (economic, social and ecological components), distinguishes the humanitarianism of economic science and positions «in the foreground» the role of values in the economic activity of people and society (acceleration of exploitation of natural resources; climate change; the formation of a new environmental order; environmental and food security) and the dominant paradigm formation (exceeding the environmental limit; Paris agreement; changing public sentiment of fossil producers and businesses; global economic losses; UN sustainable development goals with strong circular practices; WTO involvement in supporting new technologies, minimizing waste production and promoting circular trade). The methodological features of the paradigm of the global inclusive circular economy from the standpoint of postmodernism are the strengthening of socio-humanistic orientations (reflecting its ideology and creating the basis for an inclusive-oriented society); ontological nonlinearity (emphasizes circularity); consensus (the need for a global consensus to achieve a goal) emulated using the economic-mathematical method. According to the proposed methodological approach, the integrated index of development of the global inclusive circular economy has been calculated for 28 countries of the world, Includig Germany, USA, China and South Africa. We substantiate the conceptual provisions of the theoretical and methodological model of the global inclusive circular economy, namely: system characteristics (sustainable development; stability; inclusive growth; expanding opportunities for equity; equal access to resources and distribution of benefits) and the principles of circular self-organization (conservation of resources for future and rationalization of their use; counteraction of management dysfunction), determined by criterion constraints of corporate culture, communications in global value chains, dominance of linear economy, unformed circular value of goods and low quality of recycled products, limited implementation of institutional, informational, financial, financial pilot circular business projects and programs. Our approach made it possible to substantiate the basic concepts of forming a paradigm of the global inclusive circular economy: global value chains (supply of secondary raw materials), sharing platforms, circular trade, circular product life cycle, circular cities and circular cores.


2018 ◽  
Vol 10 (12) ◽  
pp. 4428 ◽  
Author(s):  
Barbara Brenner

The considerable body of literature on business models, business model innovation, and sustainable business models has yet to fully account for the impact of external dynamics—including the digital imperative—on generating sustainable value propositions. To address this issue, we developed a multifaceted framework of transformative sustainable business models, spanning three levels: the external environment, the organization, and the individual. We drew on the resource-based view and the literature on digitization to explain how organizations can capitalize on dynamic transformative capabilities to generate novel value propositions, based on both reconstructionist logic and shared-value logic. These include elements such as co-creation, usage-based pricing, agility, closed-loop processes, asset sharing, and collaborative business ecosystems.


2021 ◽  
Vol 1 (516) ◽  
pp. 40-48
Author(s):  
I. Y. Zvarych ◽  

The transitive path of transition from linear to circular economy is marked by a change in the positioning of global risks from year to year, which is strictly defined by the determinants of such a change. Thus, the main risks for 2020 according to the World Economic Forum are those related to the environment and occupy the first positions in the ranking for the last three years (in particular, in 2019, the most influential was the risk of extreme weather events). A gradual increase in awareness of this risk has led to a change in the moods of both manufacturers and consumers. Experts assessed climate change as the main risk in 2019, ahead of losses from cyberattacks, financial instability and terrorism. Thus, in order to mitigate this risk in 2020, the global business community proposed to implement circular «constructions», reducing the use of resources and prioritizing low-carbon materials. The potential consequences of the transition to a circular economy regarding greenhouse gas emissions are significant, and they can be achieved mainly by increasing the efficiency of resource use; increasing the useful life of buildings and assets; increase in processing and reuse and absolute reduction of the use of primary raw materials. Reducing the intensity of materials production, sustainable land use and rehabilitation, protection of ecosystems, efficiency of the use of resources and renewable energy sources – all this is related to the concept of a circular economy that will help preserve natural capital. Thus, a circular economy can be seen as an effective strategy to help mitigate climate change.


2021 ◽  
Vol 17 (1-3) ◽  
pp. 390-398
Author(s):  
Diana Kucherenko ◽  
Olena Martyniuk

Climate change and the depletion of natural resources are the two most pressing global problems of our time. Finding ways to solve the problem of climate change and conservation of natural resources has led to the creation of a global business model with a very fast growth rate – a circular economy. In a circular economy, the most important thing is not material flows or waste, but much more valuable methods, such as maintenance, reuse and recycling of equipment. The circular economy creates new and unprecedented opportunities for wealth and prosperity and is a major driver for achieving the UN 2030 agenda and the goals of sustainable development.


Author(s):  
John Braithwaite ◽  
Peter Drahos

Author(s):  
Howard Thomas ◽  
Richard R. Smith ◽  
Fermin Diez

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