Circular Economy and the Sustainability Challenge through the implementation of innovative and sustainable business approaches. A study concerning Italian and Finnish firms.

Abstract

Nowadays, the current business environment is experiencing the so called sustainability challenge which is influencing and shaping the way in which several businesses and companies make their strategic decisions. Accordingly, the researcher tried to address the main embedded deriving effects from the above mentioned challenge along with the argumentation of the recent business phenomenon of the Circular Economy. As a matter of fact, the researcher developed a theoretical overview based on the relevant related aspects and facets with the final aim of highlighting the possible joint effects brought about the urgency of making a concrete shift towards the willingness of relying on new business approaches different from the mainstream ones. Those have been identified and recognised within the circular business approaches. Consequently, a general notional framework has been entirely dedicated to the argumentation of the traditional business model canvas compared to the innovative circular business model canvas. The final goal was to provide a general understanding about the differences, advantages and disadvantages resulting from the practical implementation. The current research analyses the perception of business people and companies related to the core topics in order to understand the degree of their awareness together with the evaluation of circular economy and sustainability related factors, issues, risks, limitations and potential deriving effects which have been among the key questioned arguments. Eventually, several findings related to the innovative sustainable business approaches have been purposely taken into account in order to understand to what extent they could be practically executed within the business context. The main results of the study are based on a qualitative analysis relying on the efficacy of semi-structured interviews. Findings suggest that among the others, the main driven factor favouring the sustainable shift is a mind-set change fostered by the so called “sustainable thinking” development that ought to start from a personal and internal transition process. Other influencing factors based on economic and environmental reasoning are presented and discussed within the carried out study.