A New Concept of Circular Model of Management for Achieving Sustainable Success and Growth

Raj, Keerthan and Aithal, Sreeramana (2020): A New Concept of Circular Model of Management for Achieving Sustainable Success and Growth. Published in: International Journal of Management, Technology, and Social Sciences (IJMTS) , Vol. 5, No. 1 (30 January 2020): pp. 1-17.

Abstract

According to the International Institute for Sustainable Development (IISD), sustainable development has been defined in many ways, and it states that: “Sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” We have seen a lot of focus on sustainable development starting from the initiative of the United Nations which has made all nations focus on Sustainable Goals to be achieved by 2030, to large conglomerates and small business enterprises likewise focussing on sustainable business practices, which if well planned would yield success and growth. In light of the global challenges faced in relation to environmental, economic and social resources sustainable development leading to sustainable success and growth calls for a significant rethinking in the management of resources within the, and external to the organization. In this paper, we propound the furthering of a circular economy concept to management as ‘circular model of management’. Borrowed from the concept of circular economy, a circular economy (as against a linear economy) is an economic system aimed at minimizing waste and making the most of resources. Moving towards a circular economy delivers benefits such as reducing pressure on resources, increases competitiveness, stimulates innovation and boosts growth. This study is developed through extensive work in subsistence communities (base of the pyramid customers) in emerging markets. A circular economy promotes social, environmental, economic and overall restorative and regenerative capabilities, similarly, a circular model of management will as envisaged promote regenerative and restorative capability in the organization which will ensure sustainable growth and success by means of ensuring the reduction of leakage of resources to the minimum and applicability to the maximum.

• Item Type: MPRA Paper
• Language: English
• Keywords: Base of the pyramid, Circular economy, Circular model of management, Model, Sustainability
• Subjects: M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M1 - Business Administration > M10 - General

References

[1] Stahel, W. R. (2016). The circular economy. Nature, 531(7595), 435-438.

[2] Schulte, U. G. (2013). New business models for a radical change in resource efficiency. Environmental Innovation and Societal Transitions, 9, 43-47.

[3] Antikainen, M., Lammi, M., Paloheimo, H., Rüppel, T., & Valkokari, K. (2015, December). Towards circular economy business models: Consumer acceptance of novel services. In ISPIM Innovation Symposium (p. 1). The International Society for Professional Innovation Management (ISPIM).

[4] Witjes, S., & Lozano, R. (2016). Towards a more Circular Economy: Proposing a framework linking sustainable public procurement and sustainable business models. Resources, Conservation and Recycling, 112, 37-44.

[5] Antikainen, M., & Valkokari, K. (2016). Framework for Sustainable Circular Business Model Innovation. Technology Innovation Management Review, 6(7), 5-12.

[6] Urbinati, A., Chiaroni, D., & Chiesa, V. (2017). Towards a new taxonomy of circular economy business models. Journal of Cleaner Production, 168, 487-498.

[7] Murray, A., Skene, K., & Haynes, K. (2017). The circular economy: an interdisciplinary exploration of the concept and application in a global context. Journal of business ethics, 140(3), 369-380.

[8] Kirchherr, J., Reike, D., & Hekkert, M. (2017). Conceptualizing the circular economy: An analysis of 114 definitions. Resources, conservation and recycling, 127, 221-232.

[9] Goyal, S., Esposito, M., & Kapoor, A. (2018). Circular economy business models in developing economies: lessons from India on reduce, recycle, and reuse paradigms. Thunderbird International Business Review, 60(5), 729-740.

[10] Jabbour, C. J. C., de Sousa Jabbour, A. B. L., Sarkis, J., & Godinho Filho, M. (2019). Unlocking the circular economy through new business models based on large-scale data: an integrative framework and research agenda. Technological Forecasting and Social Change, 144, 546-552.

[11] Bloom, B. S. (1956). Taxonomy of educational objectives. Vol. 1: Cognitive domain. New York: McKay, 20-24.

[12] Prahalad, C. K., & Hammond, A. (2002). Serving the world's poor, profitably. Harvard Business Review, 80(9), 48-59.

[13] Keerthan Raj, (2017). Indigenous Management Practices- A Case Study on Street Vendors. International Journal of Case Studies in Business, IT and Education (IJCSBE), 1(2), 29-36. DOI: http://dx.doi.org/10.5281/zenodo.914458.

[14] Keerthan Raj, & Aithal, P. S. (2018). The Cockroach Theory for Sustainable and Scalable Organizational and Individual Growth. International Journal of Advanced Trends in Engineering and Technology, 3(1), 146-149. DOI : http://doi.org/10.5281/zenodo.1237899.

[15] Keerthan Raj, & Aithal, P. S. (2018). A ‘Desi’ Multinational – A Case Study of Hindustan Unilever Limited. International Journal of Case Studies in Business, IT and Education (IJCSBE), 2(1), 1-12. DOI: http://dx.doi.org/10.5281/zenodo.1147365.

[16] Keerthan Raj, and Aithal, P. S., (2018). Literature Review of Impact of Branding on Base of the Pyramid Markets with Special Reference to India (March 6, 2018). International Journal of Applied Engineering and Management Letters (IJAEML), 2(1), 43- 63. DOI: http://dx.doi.org/10.5281/zenodo.1189047.

[17] Keerthan Raj, & Aithal, P. S. (2018). Generating Wealth at the Base of the Pyramid – a Study Using ABCD Analysis Technique. International Journal of Computational Research and Development (IJCRD), 3(1), 68-76. DOI : http://doi.org/10.5281/zenodo.1205586.