Circular Economy and Relationship-Based View
Keywords:Circular Economy, Stakeholder Theory, Relationship-Based View, Stakeholder Relationships, Joint Value Creation, Local Markets, Global Markets
In this paper, we provide early insights about a rethinking of the dominant logic of circular economy (CE) systems, which are described by the literature as still too strongly focused on the circularity of physical resources primarily for economic and environmental benefits. We could observe that the traditional narrative of the CE is being challenged by new strategies that include the relationships among stakeholders and the reallocation of stakeholder roles. This is even more evident in the current health crisis, COVID-19. Circular economy can have higher integrated impacts beyond the mere economic and environmental spheres if it is conceptualized as an open and dynamic loop of relationships, where stakeholders’ power, roles and responsibilities overlap and converge into an emergent joint-value creation process.
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