Dynamics of Value Creation and Sustainability in a Rapidly Changing Economic System

Purvi Pujari () and Priyeta Priyadarshini
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Purvi Pujari: Bharati Vidyapeeth’s Institute of Management Studies and Research
Priyeta Priyadarshini: Bharati Vidyapeeth’s Institute of Management Studies and Research

A chapter in Future of Work and Business in Covid-19 Era, 2022, pp 321-328 from Springer

Abstract: Abstract The global economic system is at a threshold of transformation. The COVID-19 pandemic has been an inflection point for economies all over the world. As the world is moving toward circularity, it is the right time to reflect upon what would be the economic strategies required to ensure the feasibility of a circular economy. This paper dwells upon the dynamics of value creation and sustainability in the ever-changing global economic system. The creation of a circular economy demands rethinking the process of production keeping sustainability in mind. The approach is to emphasize reducing wastage and ensuring bringing circularity in all domains like human resource, finance, marketing and operations. After detailed literature, the objectives of the paper were identified. This being a relatively new subject the research methodology adopted for the paper is a detailed exploratory study of secondary data like research papers, articles and Websites. The concept of value creation has to be integrated with all the systems. Transdisciplinary systems have to be created to reduce costs and create an atmosphere of value creation. Circularity as a strategy requires a huge amount of planning and rethinking the way operations are conducted in any company. The authors have attempted to identify the economic strategies which can be adopted by the policy-makers around the globe and specifically, in India.

Keywords: Value creation; Sustainability; Circularity; Economic system; Strategies (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-981-19-0357-1_27

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DOI: 10.1007/978-981-19-0357-1_27

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