CIRCULAR ECONOMY - A CHALLENGE FOR DEVELOPMENT-ORIENTED COMPANIES
ELIZABETA STAMEVSKA
SAVICA DIMITRIESKA
ALEKSANDRA STANKOVSKA
Abstract
Creating great products is any company's goal, but those that think long-term about their value, working in a way that doesn't harm consumers and the environment. The circular economy infuses manufacturer's material streams with recycled goods. It is the mechanism that will allow companies to achieve this goal. There are still massive barriers to implementing the circular economy and it will require pulling a companies full value, getting into full circularity, finding and optimizing the pipeline of circular opportunities, using the technology, policy and investment from the consumer goods sector. Circular economy is designed to transform waste, residues and obsolete products, into valuable products and services, thus social wellbeing is improved, as well as a resilient environment is achieved. The challenge for development-oriented companies is how to turn sustainable initiatives into economically viable and competitive projects. The core is to shift the conventional equation, of producing economic benefits and then make them sustainable. This implies an innovation breakthrough of the organizational mind set of linear organizations and regions to a circular and systemic approach. So, sustainable economic growth has to be disruptive, systemic, circular and shared.
Keywords
circular economy, development-oriented companies, economic growth, circularity, environment
JEL Codes: Q57
References
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