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Revolutionizing Circular Business Practices with Waste Reduction and Resource Optimization

In: The Synergistic Effect of Sustainable Business Practices on Corporate Performance

Author

Listed:
  • Tien Thuy Tran Dang

    (UEH University)

  • Thinh Gia Hoang

    (UEH University)

  • Anna Maria Majo

    (Marian College)

  • Pallavi Pandey

    (Christ University)

  • An Duong Thi Binh

    (CIRTech Institute, HUTECH University)

Abstract

The concept of the circular economy (CE) offers a transformative solution to pressing global challenges such as resource depletion, waste generation, and environmental degradation. By shifting from the traditional linear “take-make-dispose” model to a closed-loop system, the CE principles aim to enhance resource efficiency and sustainability. This paper proposes a Waste Reduction and Resource Optimization (WRRO)-oriented circular business model, offering a comprehensive theoretical framework to guide businesses in optimizing resource utilization and reducing waste. Through the exploration of academic literature and a practical case study, the paper illustrates how businesses can effectively transition to circular business models. It also addresses the challenges businesses face during implementation, providing actionable insights for both theory and practice. The paper’s key contribution lies in integrating circular economy principles with resource efficiency strategies, offering a novel approach that supports both environmental sustainability and economic performance.

Suggested Citation

  • Tien Thuy Tran Dang & Thinh Gia Hoang & Anna Maria Majo & Pallavi Pandey & An Duong Thi Binh, 2025. "Revolutionizing Circular Business Practices with Waste Reduction and Resource Optimization," Springer Books, in: Avichal Sharma & Majo George & Pallavi Pandey & Vivek Joshi & Manjari Sharma (ed.), The Synergistic Effect of Sustainable Business Practices on Corporate Performance, pages 159-181, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-3375-3_10
    DOI: 10.1007/978-981-96-3375-3_10
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