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Designing a Conceptual Framework for Industry 4.0 Technologies to Enable Circular Economy Ecosystem

Author

Listed:
  • Muhammad Rahim Ejaz

    (University of Pecs, Hungary)

  • Dániel Hegedûs

    (University of Pecs, Hungary)

Abstract

The paper is aimed at developing an ecosystem that can be used within the domain of the circular economy on the foundation of Industry 4.0 technologies. The study emphasizes the importance of Industry 4.0 as a crucial element in the development of the circular economic ecosystem. The circular economic ecosystem comprises a business model, business strategies, and resources and capabilities supported by a circular economy framework. This study adopted literature review analysis and case studies as methodology to analyse and synthesize the latest trends and aspects developing within the framework of the circular economy. The major findings of this paper present a theoretical conceptual framework of a circular economic ecosystem that can be adopted at the organizational level. The study also supplies a way forward for future studies in this research domain, as there are several factors which are found but need to be explored.

Suggested Citation

  • Muhammad Rahim Ejaz & Dániel Hegedûs, 2023. "Designing a Conceptual Framework for Industry 4.0 Technologies to Enable Circular Economy Ecosystem," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 21(2 (Summer), pages 121-148.
    • Handle: RePEc:mgt:youmgt:v:21:y:2023:i:2:p:121-148
    DOI: 10.26493/1854-6935.21.121-148
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    Keywords

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    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L69 - Industrial Organization - - Industry Studies: Manufacturing - - - Other
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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