ECONOMIC PARADIGMS AND BUSINESS MODELS TO ACHIEVE THE SUSTAINABILITY OF COMPANIES

• Main Author: Cornelia CRUCERESCU
• Format: Article
• Language: English
• Published: Editura Univeristatii "Stefan cel Mare" din Suceava 2020-12-01
• Series: USV Annals of Economics and Public Administration
• Subjects: economic paradigm; sustainable development; lean economy; green economy; circular economy; business model
• Online Access: http://annals.seap.usv.ro/index.php/annals/article/view/1264/1042

The signing of the 2030 Agenda committed the countries of the world to find the best mechanisms for the functioning of economies able to ensure sustainable development. Companies need to meet new requirements in order to remain competitive, while generating higher economic, environmental and social values. This article aims to describe the diversity of three economic paradigms: lean economy, green economy, circular economy and its business models that are able to support sustainability. The principles of operation, benefits and how they will contribute to sustainable development were analyzed. Depending on the specifics of the business sector, national and international programs, policies and strategies, companies must identify the most appropriate solutions for their business to be able to comply with the principles of sustainable development. Companies can implement several business models belonging to different economic paradigms to take advantage of their synergistic effect.