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ENVIRONMENTAL PROTECTION AND THE CIRCULAR ECONOMY; A NEW ECONOMIC SYSTEM FOR SOCIETY AND A BUSINESS STRATEGY - THE CASE STUDY OF THE REPUBLIC OF SERBIA
Abstract
The traditional ?linear? path of business doing must be changed according to the new principles of circularity, because the circular economy is considered to be a new economic system for society and economies at a macro level. At a micro level, the circular economy represents the ultimate business strategy. The circular economy eliminates the concept of waste, because waste is conceptualized as a resource. The mission of the circular economy as a new philosophy is to change the production of global economies, as well as consumption. By this concept, the ecosystem will circulate value. The paper is focused on the perception of the tripartite nature of the circular economy and its multidisciplinary feature. On the one hand, its affects world and national economies; on the other, it affects consumers; and then, again, it concerns (business and other) organizations. Following the ?What?s in it for me?? model, each participant of the economic (business) and social systems must find their own interest in leaving the linear ?take, make, waste? model. The participants of the social system will become aware of the significance of the circular economy for the protection of the living environment, economic growth and the creation of new jobs (governments and economic policy-makers), the source of innovations and competitive advantage, a rational use of resources (companies), then the protection of the living environment and health (citizens). The circular economy is a broad platform that includes all social actors in solving ecological problems and ensures benefits for them. The role of innovation and the importance of information technology are emphasized. In the paper, the institutional efforts of the Republic of Serbia in building the circular economy are considered, the most significant projects of the circular and green economies, as well as their respective potentials, including also the observed weaknesses with respect to the bad management of waste, the uncontrolled import of internal and hazardous waste, and the inefficient consumption of energy (which on its part generates big quantities of carbon-dioxide) are presented.
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References12
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