Enhancing Circular Economy Initiatives through Strategic Stakeholder Relationship

Stakeholder relationship management is a crucial aspect of the circular economy, where collaboration among different stakeholders can lead to more sustainable and innovative solutions. Scholars suggest various approaches to improve these relationships: stakeholder mapping, effective communication, active involvement, partnership development, conflict management, evaluation, and feedback. To analyze the strategies proposed by scholars for managing stakeholder relationships within the circular economy, a systematic search was conducted through the Scopus platform. The search queries included terms like "circular economy" and "stakeholder." Subsequently, a manual screening was performed to exclude articles that were irrelevant or not aligned with the focus of our study. Data analysis was carried out using NVIVO software, which enabled the coding of emerging themes from the selected texts. This coding process excluded themes that were in a loop, i.e., those that were already the subject of the original research on Scopus. The main themes identified through this methodology include 'value', 'management', 'resources', and 'process'. These results allowed for the clustering of articles, providing a clear view of the focal areas discussed in the academic literature regarding stakeholder management in circular economy contexts. The 'value' cluster illustrates the strategic importance of stakeholder pressure in innovation and the implementation of circular practices. In the 'management' cluster, the need for complex management strategies emerges to navigate intricate relationships among involved actors. 'Resources' highlights how both dynamic and static capabilities are essential for mobilizing stakeholders towards common sustainability goals. Finally, the 'process' cluster emphasizes the importance of detailed and structured engagement processes to ensure effective and meaningful stakeholder participation. These findings suggest that a deep understanding and careful management of stakeholder dynamics can significantly enhance the resilience and effectiveness of circular economy initiatives, highlighting the interdependence between various levels of engagement and sustainable business practices.