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Circular economy: A review from business models and corporate social responsibility

Abstract:

At present, the academic literature on the Circular Economy (CE) has developed in formulating new business models, strategies for the design and management of waste products, resource cycles, and the extension of the useful life of the manufactured product. Business management leans towards sustainable industrial operation and incorporates Corporate Social Responsibility (CSR) and technological processes as the basis for applying a model that allows economic profitability with eco-productive production, reducing environmental impact, and promoting social actions. The main objective of this paper is to describe the existing gaps and the key elements of the business models and CSR that are part of the circular economy from a managerial perspective. The results show that the circular economy represents a complex alternative to achieve feasible financial results under clean production, friendly to the environment, and sustained management in its production processes. It is concluded that the designs of sustainable models will be in constant evolution together with the intervention of business management models and strategies that guarantee the production of products with low environmental impact and social actions.