English
Received 05.04.2024, Revised 11.07.2024, Accepted 15.08.2024
The presented work reflects the current issue of economic science today, which concerns the development of circular business models. Thus, circular business models have become an important tool for achieving the goals of sustainable development. They are based on the concept of the "circular economy", which differs from the traditional linear economy in that it strives to reduce waste, maximize the reprocessing of resources and minimize the negative impact on the environment. The purpose of the work is to determine the peculiarities of the development of circular business models in the conditions of sustainable development and to analyze their quality. The methods of the current research are defined as: analysis method, synthesis method, deduction and induction methods, logical method, comparative method, tabular method, graphic method for graphically displaying some research elements. The main findings of the study are: circular business models involve the use of resources based on the principles of waste reduction, reuse, repair, modernization and recycling, and they encourage businesses to consider the life cycle of products and services, in particular their disposal and opportunities for reuse of materials. As part of circular business models, companies often adopt new technologies and processes, which may include the development of new materials, as well as the development of products that have a longer life or the ability to be reused. Circular business models focus on changing relations between enterprises and consumers. Such models can bring economic benefits, such as reducing raw material costs, reducing waste management costs, and creating new revenue streams through maintenance and repair models. This is achieved by reducing the amount of waste, reducing the use of natural resources and reducing emissions of pollutants. This approach helps to improve the ecological balance and contributes to the preservation of biodiversity. The development of circular business models in conditions of sustainable development is an important aspect of the transition to a more environmentally responsible and economically profitable economy. They contribute to reduced environmental impact, economic growth through innovation and provide new business opportunities
circular economy; sustainable development; green economy; financing; transition; financial instruments; circular business models; global value chains; regulation; digitalization; transformational changes; globalization; green finance
[1] Allwood, J. M. (2024). Squaring the circular economy: The role of recycling within a hierarchy of material management strategies. In Handbook of Recycling (pp. 445–477).
[2] Bulatova, O., Shabelnyk, T., Marena, T., & Reznikova, N. (2019). Influence of regional financial market models on the structure of global financial assets. In Proceedings of the 6th international conference on strategies, models and technologies of economic systems management (SMTESM 2019). Dordrecht: Atlantis Press. doi: 10.2991/smtesm-19.2019.55.
[3] Desyatnyuk, O., Naumenko, M., Lytovchenko, I., & Beketov, O. (2024). Impact of digitalization on international financial security in conditions of sustainable development. Problems of Sustainable Development, 1, 104-114. doi: 10.35784/preko.5325.
[4] Doran, J., McCarthy, N., & O’Connor, M. (2018). The role of entrepreneurship in stimulating economic growth in developed and developing countries. Cogent Economics & Finance, 6(1), article numbre 1442093. doi: 10.1080/23322039.2018.1442093.
[5] Galoyan, D., Mkrtchyan, T., Hrosul, V., Buhrimenko, R., Smirnova, P., & Balamut, H. (2023). Formation of adaptation strategy for business entities in the context of digital transformation of the economy. Review of Economics and Finance, 21, 616-621.
[6] Hrosul, V., Buhrimenko, R., Smirnova, P., Timchenko, O., Balamut, H., & Rachkovan, O. (2022). Specifics of economic digital transformation in the context of the diversification processes impact. Ad Alta: Journal of Interdisciplinary Research, 12(2), 154-159.
[7] Krysovatyy, A., Ptashchenko, O., Kurtsev, O., & Arutyunyan, O. (2024). The concept of inclusive economy as a component of sustainable development. Problemy Ekorozwoju/Problems of Sustainable Development, 1, 164-172. doi: 10.35784/preko.5755.
[8] Krysovatyy, A., Desyatnyuk, O., & Ptashchenko, O. (2024). Digital innovations and their ramifications for financial and state security. African Journal Of Applied Research, 10(1), 431-441. doi: 10.26437/ajar.v10i1.713.
[9] Melnyk, T., Melnychenko, S., & Reznikova, N. (2019). The conceptual framework for the operation of financial systems in the context of global structural transformations of business models of banking. Baltic Journal of Economic Studies, 5(4), 148-154. doi: 10.30525/2256-0742/2019-5-4-148-154.
[10] Melnyk, T., Reznikova, N., & Ivashchenko, O. (2020). Problems of statistical study of “green economics” and green growth potentials in the sustainable development context. Baltic Journal of Economic Studies, 6(3), 87-98. doi: 10.30525/2256-0742/2020-6-3-87-98.
[11] Reznikova, N. (2016). Ecological imperatives for extension of globalization processes: Problem of economic security. Investments: Practice and Experience, 21, 23-26.
[12] Reznikova, N., Ivashchenko, O., & Rubtsova, M. (2020). Global problems as a subject of interdisciplinary studies in the focus of international economic security and sustainable development. Economy and the State, 7, 24-31. doi: 10.32702/2306-6806.2020.7.24.
[13] Rubmann, M. (2015). Industry 4.0: The future of productivity and growth in manufacturing industries. The Boston Consulting Group. Retrieved from https://www.bcg.com/publications/2015/engineered_products_project_business_indust474ry_4_future_productivity_growth_manufacturing_industries.aspx.
[14] Zaitsev, Y., Krysovatyy, I., Gavkalova, N., Sobko, O., & Boichyk, V. (2024). Interaction of digitization and corporate social responsibility in the context of sustainable development. Economic Affairs, 69, 217-227. doi: 10.46852/0424-2513.1.2024.23.
[15] Desyatniuk, O., Krysovatyy, A., & Ptashchenko, O. (2023). Development of business financial instruments in conditions of digital inclusion. Journal of Strategic Economic Research, 6(17), 28-37. doi: 10.30857/2786-5398.2023.6.3
[16] Desyatniuk, O., Krysovatyy, A., & Ptashchenko, O. (2023). State and trends of development of financial inclusion in Ukraine. The World of Finance, 3(76), 21-34. doi: 10.35774/sf2023.03.021.
[17] Krysovatyy, A., Desyatniuk, O., & Ptashchenko, O. (2023). Digital inclusion: Financial and marketing aspects. Journal of Strategic Economic Research, 3(14), 93-102. doi: 10.30857/2786‐5398.2023.3.10.
[18] Meshko, N., & Nikolaienko, A. (2021). Analysis of the impact of business greening on the basis of the circular economy on the sustainable development of tourism in European countries. European Journal of Management Issues, 29(3), 162-170. doi: 10.15421/192116.
[19] Naboka, R.Yu. (2021). Conceptual principles of state regulation of circular economy development in Ukraine. Investments: Practice and Experience, 15, 136-139. doi: 10.32702/2306-6814.2021.15.136.
[20] Nahara, M.B. (2021). Circular economy: Genesis, structure, features. Economy and the State, 10, 68-73. doi: 10.32702/2306-6806.2021.10.68.
[21] Sobko, O., & Krysovatyy, I.A. (2021). Improving the management of innovative projects and revitalizing the innovative activity of Ukrainian enterprises. Bulletin of the Economy, 3, 97-112. doi: 10.35774/visnyk2021.03.084.
Українська