Circular Economy as a Holistic Strategy

Complexity management and sustainability

JournalIndustry 4.0 Science
Issue Volume 41, Edition 1, Pages 60-67
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Abstract

Over the past decades, circular economy has established itself as an important strategy for tackling sustainability challenges. Its holistic approach aims to use resources efficiently and minimize waste. This article aims to identify and evaluate the numerous challenges connected to the successful implementation and expansion of the circular economy approach. Economic, technological, social and political aspects are examined to provide a comprehensive insight into the complexity of the strategy and its implementation. The article concludes that a successful circular economy can only be achieved through the coordinated cooperation of different stakeholders and the development of innovative solutions to the identified challenges.

Keywords

Article

Circular economy is considered as a key concept for promoting sustainability and combating global environmental challenges. In contrast to the linear economy, which is based on a “take, make, use and throw away” model, circular economy aims to reuse resources continuously, minimizing waste and extending the life cycle of products and/or components. This holistic approach promises environmental, economic and social benefits. Challenges along a product’s value chain arise from the design of modular products to the integration of recycled materials into the raw materials and external factors, such as volatile …

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Potentials: Resource Efficiency Strategy
Solutions: Process Management

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