A Perspective on Circular Innovation: Dynamics, Strategies, and Implications

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Published: Dec 28, 2023
DOI: https://doi.org/10.24840/2183-0606_011.004_L001
Issue: Vol. 11 No. 4 (2023)
Keywords:
Circular economy, Innovation, Business, Policy, Society

Main Article Content

Ruth Cherrington
University of Exeter, Business School, Department of Management, Sustainable Futures, United Kingdom, TR10 9FE
https://orcid.org/0000-0003-1108-7132
Eduardo Acosta Llano
Department of Marketing, Management and International Business, Oulu Business School, University of Oulu, Finland
https://orcid.org/0009-0003-3140-2862
Rosen Dimov
Soós Ernő Research and Development Center, Renewable Energy Research Group, University of Pannonia, Hungary
https://orcid.org/0000-0002-5538-5599
Ananya Bhattacharya
Department of Management, Monash University, Australia
https://orcid.org/0000-0002-9406-7630

Abstract

This Letter considers the multifaceted realm of circular innovation, shedding light on its dynamics, strategic implications, and broader significance for sustainable development. By evaluating existing research and exploring examples across sectors, this work contributes to a deeper understanding of the role of circular innovation in transforming industries, economies, and societies. Although the topic has received increased interest in recent years, we find that there are notable gaps. While significant attention has been given to initial adoption and expansion, there is a lack of understanding regarding the enduring impacts on businesses and society.  Further research addressing these gaps can enrich our understanding of the challenges and opportunities in this evolving field.

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Author Biographies

Ruth Cherrington, University of Exeter, Business School, Department of Management, Sustainable Futures, United Kingdom, TR10 9FE

University of Exeter, Business School, Department of Management, Sustainable Futures R.Cherrington@exeter.ac.uk

Ruth Cherrington, PhD is a Lecturer in Sustainable Futures at the University of Exeter Business School. She is an affiliate member of the Exeter Centre for Circular Economy and the Centre for Entrepreneurship and her research sits within these overlapping themes to consider the future of business. She has experience of a wide portfolio of research projects that collectively strive to address environmental sustainability, industry innovation, and societal impact, employing multidisciplinary approaches and collaborations between academia, industry, and local communities to drive the transition toward circularity. Her papers are published in multidisciplinary scholarly journals such as Resources, Conservation and Recycling, Management Learning and Sustainable Production and Consumption.

Eduardo Acosta Llano, Department of Marketing, Management and International Business, Oulu Business School, University of Oulu, Finland

Eduardo Acosta Llano is a PhD student at Oulu Business School's department of marketing, management, and international business. He is passionate about finding new ways to redesign business models towards more sustainable ones, optimizing resources, and tackling global issues like climate change, waste, pollution, and biodiversity loss with the help of state-of-art technology.  In the last years, he has been working in the Nordic countries of Sweden and Finland in sustainable entrepreneurship from an academic perspective creating valuable collaborations and synergy with policymakers and entrepreneurs in various industries.

Rosen Dimov, Soós Ernő Research and Development Center, Renewable Energy Research Group, University of Pannonia, Hungary

Rosen Dimov PhD is an Associate Professor at Soós Ernő Research and Development Center, Renewable Energy Research Group, University of Pannonia, Hungary, and Innovation Manager at emotion3D in Vienna. He has obtained a transdisciplinary background in his earlier education that has led him to a Marie Curie PhD and early-stage research in innovation management. During his studies he gained experience in policy making and governance by working at the European Parliament, the European Commission, and the World Bank Institute. In the consultancy field he has supported the interest representation and international cooperation of innovative small businesses in Europe and Turkey. While he was living in Istanbul for nearly 5 years, he managed projects about the economic integration of Turkey into the EU market, facilitating and furthering the exchange of best practices and networking among innovation stakeholders from both sides.

Ananya Bhattacharya, Department of Management, Monash University, Australia

Ananya Bhattacharya, PhD is a Senior Lecturer in the Department of Management at Monash University. Currently she is involved in research on supply chains, food waste and circular economy. As a part of the team, she has received funding from the Sustainability Victoria to complete research on ‘Manufacturing Sector Circular Economy Capabilities: Identifying Enablers, Barriers, and Enhancements’. She collaborated on a research project with the local council and small/medium sized businesses to understand their circular economy challenges and practices. She has also received internal grant to explore waste in food service businesses and conducted research on food waste in the hospitality industry. Her sustainability-related papers are published in several scholarly journals such as Journal of Cleaner Production, Industrial Marketing Management, International Journal of Production Economics, International Journal of Production Management, Australasian Journal of Environment Management, Journal of Business Research and International Journal of Hospitality Management.