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What is Circular Business Model

Chapter 27
Handbook of Research on Entrepreneurship Development and Opportunities in Circular Economy
A sustainable business model developed in response to the global decline in resources or raw-materials, and to address the environmental issues. It is an alternative to linear economic model to promote a more resource efficient production and consumption systems; thereby reducing the environmental impact of human and economic activities.
Published in Chapter:
Knowledge Management for the Circular Economy
Sulaiman Olusegun Atiku (Namibia University of Science and Technology, Namibia)
Copyright: © 2020 |Pages: 18
DOI: 10.4018/978-1-7998-5116-5.ch027
Abstract
The place of knowledge management in ensuring effective transition into a circular economy by developing a circular business model as an alternative to the conventional linear economic model is under-investigated. Knowledge coordination, creation, and dissemination capability of a firm are important in developing the green industry and offering new job opportunities. This chapter adopted a literature review approach to establish the link between knowledge management and transition into a circular economy. Findings show that the firm's eco-innovation process depends largely on strategic knowledge management. Therefore, systems understanding and self-motivated creativity are essential professional knowledge levels in developing circular business models for sustainability. Hence, firms need to enhance the knowledge-based for continuous business process improvement, eco-efficiency, and eco-innovation.
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