Analysis of WEconomy and Macedonian Socially Responsible Companies

Abstract

The resources offered by planet Earth are limited, so they need to be used wisely. We live in an era of digitalization and technological revolution where businesses have the opportunity to use sustainable development and concepts of green economy and growth. The whole transition in this era is based on fresh solutions, creativity, and open minds. Rational use of resources contributes to their reuse, pollution reduction and economic growth. This is where new trends emerge in sharing underutilized resources among people using the Internet aiming to generate as little waste as possible and reuse those resources in another production. This global movement, known as WEconomy, brings together six different trends in the modern economy where product ownership is overshadowed by the temporary resource-sharing approach. The purpose of this paper is to show the current position of the WEconomy in Macedonia compared to the world, and what are its future directions. The main focus is put on the shared and circular economy, as well as their impact on the economy and the environment. The socially responsible companies on the territory of Macedonia are also included as a positive example of the transition from linear value chains to circular value chains.