Abstract
The study makes, under a new configuration of the circular economy, a cross-country analysis based on the Competitiveness and Innovation Indicators in the E.U., i.e., two sub-criteria: private investments, jobs, and gross value added; and patents related to recycling and secondary raw materials as a proxy for innovation. The analysis proved that investments influence the number of patents, and participate in societal transformation. A further cluster analysis classified countries on the level of innovation. The cluster analysis in SPSS centres on significant potential, weaknesses, impact, and waste management control through blockchain technology. It is found that the factors that influence innovation, according to the Global Competitiveness Report, link the business dynamism and innovation capability with the capacity to sustain resilient ideas, such as competitive intelligence and social entrepreneurship. The discussions aim to prove that the efforts to rethink the circular economy principles contribute to its conceptual and societal transformation role through the implementation of innovative processes, inventive solutions, and blockchain technologies, and their social consequences to solve environmental problems. Once understood and accepted, CE will drive sustainable behaviour.
Highlights
IntroductionThe circular economy represents a model to restore ecosystems
Many qualitative types of research were performed on the circular economy, competitiveness, and innovation, only a few studies have quantitatively evaluated the circular economy concept and the elements included in the EU CE fourth indicator, as they are usually chosen as background [8,9,10]
Each actor participating in either social or business life, and every representative nominated by the Government, has to find their respective role and interest in sustainable behaviour to reach Green Deal objectives
Summary
The circular economy represents a model to restore ecosystems Both innovation and habit-altering define its implicative characteristics [1,2,3,4]. Current business conditions on the market impose the need for constant adjustment and a continual search for ways to raise competitiveness for companies. This is precisely because of the overproduction and oversaturation of the market [11,12,13]. Companies find it challenging to differentiate and position themselves in consumers’ minds (i.e., market positioning). It is complex and difficult for companies to achieve competitiveness in the market in the mentioned business conditions, it is not impossible [14]
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