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Faculty of Business Studies, Educons University , Kamenitz , Serbia
Faculty of Business Studies, Educons University , Kamenitz , Serbia
Faculty of Economics, University of Prishtina , Pristina , Kosovo
The need for new business models based on the principles of sustainability and efficient resource use in modern economic conditions is becoming increasingly evident. These business models strive to eliminate the fundamental weaknesses of the linear economy, such as uncontrolled extraction of natural resources, irreversible waste generation, and their inherently weak management potential. At the same time, they must meet increasingly demanding market needs, both on a national and global level.
Depending on the key characteristics and goals of circular business models based on: a) recycling and reuse, b) design for sustainability, c) services, d) closed-loop supply chain processes, e) digitalization, and f) educational and consultancy nature, the study considers their impact on the ecological, economic, and social dimensions of sustainable business. It concludes that recycling and closed-loop supply chain circular business models most significantly advance ecological goals but may carry moderate economic challenges. On the other hand, service-oriented models and digitalization bring high economic benefits, with moderate ecological impact.
circular business models, resource efficiency, environmental pollution, sustainability principles, sustainability dimensions.
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