Performance Management Framework for Circular Economy Strategies

Viktorija Varaniūtė; Ineta Žičkutė; Giedrė Večerskienė; Gražvidas Zaukas

doi:10.5755/j01.ee.34.5.35001

Authors

Viktorija Varaniūtė Kaunas University of Technology, Lithuania
Ineta Žičkutė Kaunas University of Technology, Lithuania
Giedrė Večerskienė Kaunas University of Technology, Lithuania
Gražvidas Zaukas Kaunas University of Technology, Lithuania

DOI:

https://doi.org/10.5755/j01.ee.34.5.35001

Keywords:

Circular Economy, Circular Economy Strategies, Balanced Scorecard, Performance Management, Indicators

Abstract

The existing literature emphasizes the importance of performance management as a vital component for increasing any company's competitive advantage. Companies can base their performance management on a variety of tools. In today's circular economy, managing companies’ performance in terms of not just financial but also environmental concerns has become a strategic decision. Indeed, the study directions on performance management for circular economy strategies are diverse and quite scattered. This paper aims to propose a performance management framework under the balanced scorecard approach to be considered for the circular economy strategies implementation. A bibliometric approach was used to reveal the main directions of previous studies in performance management and circular economy strategies. Results revealed that the indicators of performance management under the balanced scorecard approach to be considered for the circular economy strategies implementation are various.

Author Biographies

Viktorija Varaniūtė, Kaunas University of Technology, Lithuania

Viktorija Varaniūtė is an associate professor in the School of Economics and Business and a member of Digitalization Research Group at Kaunas University of Technology. Varaniūtė has research and project implementation experience. Her research interests are in the fields of organizational value measurement and management, digital transformation and circular economy implementation research. She regularly presents her research findings at conferences such as the European Academy of Management, the Academy of Management, the British Academy of Management and the European Accounting Association. Also, her competence is continuously enhanced at scientific internships (Netherlands, Germany, USA).

Ineta Žičkutė, Kaunas University of Technology, Lithuania

Ineta Žičkutė is an associate professor in the School of Economics and Business, and a member of Digitalization Research Group and International Migration Research Cluster at the Kaunas University of Technology, Lithuania. Further, she is a member of the AMIKO research group at the University of Granada, Spain. Her research interests focus on international migration, behavioural economics, and the application of artificial intelligence solutions. Her scientific work has been nominated by numerous awards.

Giedrė Večerskienė, Kaunas University of Technology, Lithuania

Giedrė Večerskienė is a lecturer in the School of Economics and Business at Kaunas University of Technology. Her research interests focus on accounting issues and companies‘ performance measurement. Her subject-matter competence is continuously enhanced at practical and subject-specific conferences, seminars, and training.

Gražvidas Zaukas, Kaunas University of Technology, Lithuania

Gražvidas Zaukas is a lecturer in the School of Economics and Business at Kaunas University of Technology. His research interests focus on companies‘ management accounting issues, logistics operations, and management of information systems. Zaukas actively participates in practical conferences where knowledge is shared under the interested topics.