Business Innovation for Circular Economy

Alexandra Maria Spanu () and Ionela Munteanu ()
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Alexandra Maria Spanu: “Ovidius” University of Constanta, Romania
Ionela Munteanu: Bucharest University of Economic Studies, Romania “Ovidius” University of Constanta, Romania

Ovidius University Annals, Economic Sciences Series, 2024, vol. XXIV, issue 2, 656-663

Abstract: This research explores the contribution that business innovation brings in driving the circular economy implementation within Europe, focusing on its economic, environmental, and societal impacts. Through a mixed-methods approach, the study examines technological progress, policy frameworks, and evolving consumer behaviors that promote sustainable business practices. Sectorspecific case studies demonstrate practical innovations, such as AI-enabled waste sorting, closedloop systems, and subscription-based models for electronics. Challenges, including financing gaps and fragmented regulations, are balanced by opportunities for technological advancements and collaborative initiatives. Using a comprehensive SWOT analysis, the study highlights pathways to strengthen circular economy strategies, encouraging greater policy coherence and stakeholder engagement. This research underscores Europe’s potential to lead in sustainability through integrated efforts, fostering resilience and long-term economic growth.

Keywords: circular economy; business innovation; business practices; SWOT analysis (search for similar items in EconPapers)
JEL-codes: M10 Q01 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxiv:y:2024:i:2:p:656-663

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