Delving into Stakeholders' Perceptions of the Efficient Transition to the Circular Economy

Abstract

The importance of knowledge management in facilitating a successful transition to a circular economy through the creation of a circular business model, as a substitute for the conventional linear economic approach, has not been extensively explored. The capacity of a company to coordinate, generate, and disseminate knowledge plays a crucial role in developing environmentally friendly industries and creating new employment opportunities. This article employs a literature review methodology to establish the connection between knowledge management and the shift towards a circular economy. The findings reveal that a company's eco-innovation process relies heavily on strategic knowledge management. Consequently, a comprehensive understanding of the system and self-motivated creativity are crucial components of expertise in creating sustainable circular business models. Hence, companies must consistently enhance their knowledge base to improve business processes, eco-efficiency, and eco-innovation.