FEATURES OF BUSINESS PROCESS TRANSFORMATION IN THE CONDITIONS OF A CIRCULAR ECONOMY

Abstract

Circular economy is a new paradigm of economic development that promotes sustainable use of resources, waste reduction and optimization of production processes. It suggests that businesses focus on closed cycles, where products, materials and resources are constantly in use, instead of the traditional linear model of "take-use-throw". Transformation of business processes within the framework of a circular economy requires significant changes in approaches to production, supply chain management, product development and interaction with customers. Purpose of the study. The main purpose of the presented study is to determine the features of the modern transformation of business processes in the conditions of a circular economy. The object of the study is the process of transformation of modern business models under the influence of the circular economy. The methods used in the study are methods of analysis and synthesis, methods of deduction and induction, comparison method, generalization method, comparison method, logical method, tabular method for visual display of individual research results. The main hypothesis of the study was the assumption that the modern dynamic development of the global economic space leads to the emergence of new economic formations that encourage the transformation of traditional business models. Presentation of the main material of the study. Transformation of business processes in the conditions of a circular economy involves changing traditional linear business models based on the principle of "take - make - use - throw away". In a circular economy, the models of "make - use - restore" or "shared consumption" allow to reduce waste and maximize the use of resources. The introduction of new technologies is critically important for the transformation of business processes in a circular economy. This includes the development of new materials, the use of information technologies for managing supply chains and tracking resources, as well as the use of technologies for recycling waste. The circular economy requires changes in supply chains. Businesses must be ready to work with suppliers who apply sustainable and environmentally friendly practices, as well as implement mechanisms that allow materials or products to be restored after their use. Material substitution strategies, logistics models that support recycling and reverse circulation contribute to the formation of circular supply chains. The originality and practical significance of the study is confirmed by the possibility of taking into account individual conclusions of the study in practical activities. Conclusions and prospects for further research. The transformation of business processes in the conditions of a circular economy is a key stage in the transition to sustainable development. This process requires fundamental changes in business models, approaches to production, resource management and interaction with customers and suppliers. Despite the existing challenges, the circular economy offers businesses opportunities for growth and development through innovation, increased efficiency and reduced environmental impact. As a result of this transition, enterprises can gain competitive advantages, improve their reputation and contribute to sustainable development both locally and globally.