| Title | Industry 4.0 and circular economy practices: A new era business strategies for environmental sustainability |
|---|---|
| ID_Doc | 2134 |
| Authors | Khan, SAR; Razzaq, A; Yu, Z; Miller, S |
| Title | Industry 4.0 and circular economy practices: A new era business strategies for environmental sustainability |
| Year | 2021 |
| Published | Business Strategy And The Environment, 30, 8 |
| Abstract | Amid rising environmental concerns, Industry 4.0 and blockchain technology (BCT) are transforming circular economy (CE) practices and prevailing business models. Recognize the same; this study examines the role of blockchain technology in circular CE practices and their impact on eco-environmental performance, which influences organizational performance. The study collects data from 404 enterprises located in Chinese and Pakistani territories, involved in cross-border supply chain operations. Both countries' sample has great relevance due to the China Pakistan Economic Corridor (CPEC), which possesses several positive fallouts in terms of technology spillovers across firms. Using the partial least squares structural equation modeling (PLS-SEM) modeling framework, this study provides three key findings. First, BCT significantly improves the circular economy practices (circular procurement, circular design, recycling, and remanufacturing). Second, CE practices help improve firms' environmental performance and stimulate their financial performance. Third, higher eco-environmental performance significantly boosts organizational performance. This study sets out the foundations for participating countries/firms that simultaneously achieve financial and sustainable goals by integrating blockchain technology in circular economy practices. |
Similar Articles
| ID | Score | Article |
|---|---|---|
1714
|
Tang, YM; Chau, KY; Fatima, A; Waqas, M Industry 4.0 technology and circular economy practices: business management strategies for environmental sustainability(2022) | |
| 1300
|
Khan, SAR; Yu, Z; Sarwat, S; Godil, DI; Amin, S; Shujaat, S The role of block chain technology in circular economy practices to improve organisational performance(2022)International Journal Of Logistics-Research And Applications, 25, 4-5 | |
| 2160
|
Khan, SAR; Zia-ul-haq, HM; Umar, M; Yu, Z Digital technology and circular economy practices: An strategy to improve organizational performance(2021)Business Strategy And Development, 4, 4 | |
| 999
|
Mukherjee, S; Nagariya, R; Baral, MM; Patel, BS; Chittipaka, V; Rao, KS; Rao, UVA Blockchain-based circular economy for achieving environmental sustainability in the Indian electronic MSMEs(2023)Management Of Environmental Quality, 34, 4 | |
| 28450
|
Sun, XL; Wang, X Modeling and Analyzing the Impact of the Internet of Things-Based Industry 4.0 on Circular Economy Practices for Sustainable Development: Evidence From the Food Processing Industry of China(2022) | |
| 20819
|
Meier, O; Gruchmann, T; Ivanov, D Circular supply chain management with blockchain technology: A dynamic capabilities view(2023) | |
| 1084
|
Khan, SAR; Piprani, AZ; Yu, Z Digital technology and circular economy practices: future of supply chains(2022)Operations Management Research, 15, 3-4 | |
| 28322
|
Hassan, NM; Khan, SAR; Ashraf, MU; Sheikh, AA Interconnection between the role of blockchain technologies, supply chain integration, and circular economy: A case of small and medium-sized enterprises in Pakistan(2023)Science Progress, 106.0, 3 | |
| 3572
|
Rejeb, A; Appolloni, A; Rejeb, K; Treiblmaier, H; Iranmanesh, M; Keogh, JG The role of blockchain technology in the transition toward the circular economy: Findings from a systematic literature review(2023) | |
| 207
|
Souza, EB; Carlos, RL; de Mattos, CA; Scur, G The role of blockchain platform in enabling circular economy practices(2024) |