POSSIBILITIES OF IMPLEMENTATION OF CIRCULAR ECONOMY PRINCIPLES IN MEDIUM-SIZED ENTERPRISES OF THE CHEMICAL INDUSTRY IN THE CZECH REPUBLIC

Abstract

In connection with the introduction of sustainable procedures and solutions into corporate practice, new topics are coming to the fore, including the circular economy. Its goal is to reduce the consumption of natural resources in the economy, it is based on the principle of closing or circulating flows within product and material systems, even taking into account other aspects of sustainable development. To achieve the goals of the circular economy, so-called R-strategies were developed. Among the most common are the 3Rs: Reduce, Re-use, Recycle, these were gradually supplemented by strategies such as Refuse, Rethink, Repair, Refurbish, Remanufacture, Repurpose, or Recover. The transition to a circular economy thus requires innovations, new business models or social-institutional changes, focusing already on the product design phase and evaluating all phases of the product life cycle. This contribution summarizes the results of the research, the main goal of which was to find out how small and medium-sized enterprises are affected by this new direction, what activities they implement in this area, what obstacles they face, and how they perceive threats, as well as opportunities. What are the reasons for introducing the principles of the circular economy. Specifically, companies from the chemical industry were selected. The research was carried out using qualitative research methods including personal interviews and discussions with representatives of selected companies.