Author(s): Suja Pradeep, Majdi Khaleeli, Shaista Anwar
This study investigates how the globally emerging macro trends — such as changes in the environment, clean technology, and renewable energy, shifting regulatory landscapes and markets, etc.- are converging and profoundly affecting businesses, causing new value creation and capturing opportunities for entrepreneurs. In this context, the paper explores how sustainable entrepreneurship and circular business models help innovators win the new market dynamics while generating trillions of dollars in value for the global economy by simultaneously decarbonizing and restoring ecosystems. A systematic literature review proposes a conceptual model that serves as a tool for the emerging economies to align their macroeconomic policies and institutional structures to decouple climate change from economic growth. The study fills a research gap by identifying the key macro forces that imapct the synergy between sustainability and profitability. The results of the study pinpoint that transition to a circular economy is to be considered as the focal point of the renewal strategy by the global firms as well as new value creation opportunities for entrepreneurs. The study highlights quantifying the positive and negative synergies across the moderating variables identified in the proposed conceptual model, in the context of emerging and underdeveloped economies, as future areas of research.