AUTHORS: Davorin Kralj, Marko Tramšek, Marko Homšak

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ABSTRACT: There is no doubt about sustainable environmental future and environmental excellence. A circular economy shows the right direction. From a business perspective, ongoing change may be the greatest opportunity of the twenty-first century. The further development of circular economy is going to play a crucial role in stimulating and favouring the implementation of circular economy by enterprises and long-term consequences of sustainability aimed at long-term efficiency and effectiveness of the company’s business and environmental activities and excellence. The European Commission adopted an ambitious Circular Economy Package, which includes revised legislative proposals on waste to stimulate Europe's transition towards a circular economy which will boost global competitiveness, foster sustainable economic growth and generate new jobs.The circular economy rests on three principles, each addressing several of the resource and system challenges that industrial economies faces. Circular Economy and Environmental Excellence mean more than corporate responsibility; it is now a priority issue that global business needs to integrate into its green business policy and strategy. A circular economy is restorative and regenerative by design, and aims to keep products, components, and materials at their highest utility and value at all times. The concept distinguishes between technical and biological cycles. The reflection included interdisciplinary thinking which enables us to understand and manage the process of circular economy in terms of sustainable development.

KEYWORDS: Business, Circular Economy, Environment, Excellence, Management, Organization Model

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WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 14, 2017, Art. #13, pp. 120-128


Copyright © 2017 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution License 4.0