The need for sustainable business models (SBMs) has grown significantly in response to contemporary environmental and social challenges such as climate change. This article offers a literature review ...of the characteristics and institutional factors in the landscape of SBMs. We define SBMs as transformative models that yield positive impacts on the environment and society. It emphasizes the fundamental reconfiguration of how organizations create, deliver, and capture value. The literature review describes the characteristics of SBMs which attempt to balance profitability with the management of environmental and social impacts. We underline the relevance of stakeholder theory in the creation of SBMs in the context of the triple bottom line. Challenges in SBM adoption, such as organizational inertia, are also discussed. The circular economy model is a promising approach within SBMs, emphasizing product and material reuse in contrast to the linear take-make-use-dispose model. The alignment of SBMs with broader sustainability goals, corporate social responsibility (CSR) engagement, and proactive consideration of future regulatory changes would enhance the companies’ strategic advantage. The paper concludes by advocating the adoption of SBMs not just as a responsible choice but as a strategic imperative for long-term success, resilience, and positive social impact.
Before 2020, the European Commission adopted several strategies pursuing sustainable development in the European Union (EU). At the core of these strategies, we can find the circular economy (CE) ...which relies on the 3 R concept: reduce-reuse-recycle. Starting from the unique European regulatory context, the aim of the present review is to determine the degree to which the works published by researchers affiliated with institutions within the EU address the challenges identified at the EU level and respond to EU strategies in the field of the CE. A bibliometric analysis based on Scopus was performed using VOSviewer and the bibliometrix package in R. The sample is made up of 13,553 articles published between 2006 and 2023. The results show that there has been an increase in the number of articles and citations during the last years, in line with the adoption of relevant regulations. The co-word analysis generated five domain clusters: sustainable development and life cycle assessment; biomass production and waste valorization; materials and recycling; wastewater treatment and environmental pollution; carbon emissions reduction and energy recovery. Several topics are common to all EU countries, and they are strongly related to EU-wide strategies regarding the circular economy. The study has implications for standard-setters and research agencies, supporting the European Commission to understand the effects of the CE package implementation and what needs to be done in the future.
•Five domain clusters of circular economy research in the European Union.•Research topics overlap between countries and contribute to sustainable strategies.•Cooperation between countries is clustered around major poles of research.•Empirical contributions do not have the impact of review papers in this field.
•Fast fashion retailers develop different flavors of circularity in their value chain.•Big players in fast fashion resort to a wide range of circularity solutions.•Retailers impose stringent rules on ...their upstream business partners.•Fast fashion companies educate consumers to extend the lifecycle of their garments.•Environmental impact can be reduced at each stage of the fast fashion value chain.
The purpose of this paper is to provide rich empirical evidence on circularity solutions adopted by the largest companies in the fast fashion industry. The sustainability reports of six global players were analyzed using a comprehensive circular model of the value chain. This model comprises eleven stages: product design, virgin raw material extraction and processing, textile and material production, manufacturing, auditing and certification, packaging and retail, customer use, post-consumer garment collection, recycling fibers and materials, partnerships, and transparency. The results are reported on five implementation phases: strategies, research and development, implementation at scale, quantitative indicators, and targets. The analysis shows that major players in this sector created a complex system for reducing their environmental impact while imposing strict rules in their upstream supply chain. Downstream, these companies educate their customers on the topic of circularity and promote recycle-or-reuse consumer habits. In addition to offering practical examples of strategy, product, and process design, the present contribution describes several configurations of circular models as implemented by large fashion retailers. The results have significant implications for theory, management, and standard-setting, considering that fast fashion is widely viewed as having a negative impact on the environment.
The study aims to evaluate the integration of Sustainable Development Goals (SDGs) and specific policies related to human rights, within listed European Union companies. The investigation builds upon ...the existing literature that examines the behavioral patterns of different nations in relation to these objectives and policies that exist to mitigate the problematic areas within the country. The literature employs a variety of indicators, collectively reflecting the specific targets of the SDGs and policies related to human rights. We conducted a quantitative analysis using data extracted from the Refinitiv Eikon database, providing a representative snapshot of the corporate landscape in 2022. Through this dataset, we delve into the dynamics of European Union companies and their implementation of SDGs and policies related to human rights. The study involves a statistical analysis of the applicability of these goals and policies between companies, taking into account not only the industry-specific nuances, but also the country-specific dimensions. The paper represents a valuable contribution to the academic discourse by providing evidence regarding the implementation of SDGs and policies related to human rights in the context of the 2030 Agenda of the United Nations. Furthermore, the study places emphasis on the exemplary initiatives taken by top-contributing companies in nations such as Sweden, aiming to sketch a model for entities that are yet to reach comparable levels of commitment. Beyond its scholarly significance, this analysis serves as a practical benchmark for companies aspiring to fortify their commitment to human rights-related goals. Ultimately, this research aims to propel a paradigm shift in corporate practices, steering them toward a more harmonious alignment with the crucial imperatives of the 2030 Agenda.
New business models in the Circular Economy Dragomir, Voicu D.; Duţescu, Adriana
Proceedings of the ... International Conference on Business Excellence,
08/2022, Letnik:
16, Številka:
1
Journal Article
Recenzirano
Odprti dostop
Circular Economy is becoming an important part of the trend on global business development. Companies and public organizations are facing new challenges and strive to integrate fresh concepts and ...instruments within their value chains. Strategic environmental goals are based upon reused resources and reintegrated materials, reduced carbon emissions, renewable energy, innovation, and overall optimization of models and processes. Governmental agencies are also preoccupied to enact specific regulations, to favor the economic and social integration of the circular economy. The advantages of the 6 R’s integration (recycle, reuse, reduce, repair, remanufacture, redesign) for businesses are straightforward, from cost optimizations, price volatility control, to increased automation and innovation.
This paper is the first step of a more complex research endeavor, aiming to assess the feasibility of various fine tunings on specific business models that integrate circular economy principles. We have based our current assessment on six industries, with a major impact on the environment, and that can provide impacting solutions for environmental preservation. For each analyzed industry, a specific original diagram was provided, integrating the main industrial processes, outcomes, and reuse opportunities, derived from circularity principles. The literature review was intended to support each industry’s development pattern, highlighting different types of solutions for waste recycling, and business reorganization redesign.
The aim of this research is to examine the degree to which different categories of intellectual capital are disclosed in the annual reports of a sample of large European companies.1 The sample ...comprises 18 companies included in the STOXX® Europe TMI Software & Computer Services Index, from six countries. Keeping with the previous literature, the present study has analysed the disclosed items of intellectual capital outside the financial reports of these entities; this methodological choice assumes that disclosure outside the requirements of accounting standards shows the true commitment of managers in the creation and development of intellectual capital. Therefore, we have collected the cross-sectional raw data from the management review section of selected annual reports for one fiscal year. We have used relevant methodologies from the earlier literature for the content analysis of intellectual capital disclosures. The elements disclosed in narrative form were coded as binary variables on an index scale, and several frequencies and charts are included in the discussion section. Frequencies found are only poorly comparable with the results of previous studies.
There is a growing interest in the contribution of organizations to the achievement of sustainable development goals worldwide, with the involvement of various actors, such as governments, ...regulators, private entities, public interest entities, financial institutions, and civil society. The alignment between environmental, social and governance (ESG) performance and sustainable development goals helps academics and practitioners in observing corporate contributions to sustainable growth, both at micro and macroeconomic levels. There are few studies that analyze the association between corporate ESG performance and the United Nations Sustainable Development Goals (UN SDGs), or the contribution of company ESG indicators to sustainability. Thus, the aim of this study is to analyze such relationships in a case study for which an original mapping is proposed. Data were collected from Refinitiv Eikon, for two companies (in the oil and gas and financial services sectors), located in Romania, for the financial year 2021. Interpretative analysis was applied to the proposed mapping of sustainability practices reflected through ESG indicators, in relation to 17 SDGs. Our qualitative research included the computation of a total score based on the impact of ESG performance in pursuing the SDGs. Our results show that in Romania, the largest oil and gas company disclosed more information on ESG indicators and obtained a score (40) higher than the analyzed bank. The highest contribution to the achievement of the SDGs is related to the social pillar, especially the workforce and community dimensions. The bank obtained a lower score (30), while the most significant contribution to meeting the SDGs is linked to the environmental pillar, specifically emissions. Thus, corporate ESG performance is mapped to the SDGs, for entities activating in either financial or non-financial industries, with different importance allocated to each of the three ESG pillars. This research is important for various stakeholders, such as governments, business, and civil society, depending on the role within the organization, either direct or indirect.
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