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date: 25 July 2021

Abstract and Keywords

New business models forming in the circular and sharing economies are enabling transitions to the adoption of sustainable business practices. Such new business models address resource depletion, issues associated with waste management, and innovative design of products and services. Transition requires new management practices and resource stewardship models that go beyond the traditional product life cycle requiring collaborative or inter-organizational governance structures. Global market challenges are faced, such as incorporating the cost of externalities, capitalizing on impact investing, developing integrated frameworks to account for sustainability performance, and enhancing corporate resilience and adaptation in regard to climate change.

Keywords: externalities, new business models, circular economy, sharing economy, sustainable business, design

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