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

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  • Raj, Keerthan
  • Aithal, Sreeramana

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.

Suggested Citation

  • Raj, Keerthan & Aithal, Sreeramana, 2020. "A New Concept of Circular Model of Management for Achieving Sustainable Success and Growth," MPRA Paper 101749, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:101749
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    References listed on IDEAS

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    1. Walter R. Stahel, 2016. "The circular economy," Nature, Nature, vol. 531(7595), pages 435-438, March.
    2. Raj, Keerthana & Aithal, Sreeramana, 2018. "The Concept of Cockroach Theory of Sustainable and Scalable Organizational and Individual Growth," MPRA Paper 86695, University Library of Munich, Germany, revised 30 Apr 2018.
    3. Jabbour, Charbel Jose Chiappetta & Jabbour, Ana Beatriz Lopes de Sousa & Sarkis, Joseph & Filho, Moacir Godinho, 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, Elsevier, vol. 144(C), pages 546-552.
    4. Alan Murray & Keith Skene & Kathryn Haynes, 2017. "The Circular Economy: An Interdisciplinary Exploration of the Concept and Application in a Global Context," Journal of Business Ethics, Springer, vol. 140(3), pages 369-380, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Base of the pyramid; Circular economy; Circular model of management; Model; Sustainability;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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