Industry 5.0, Digitalization of business and Circular economy

UNWE, Business Faculty, 19 8-mi Decemvri str. Sofia, Bulgaria

^* Corresponding author: sterew@abv.bg

Abstract

As we are on the road to the next generation of the business organizations: Industry 5.0, we need to understand how the digitalization is connected to the requirements of the circular economy. Although we could find a statistical evidence for such strong relations, the digitalization is much more requisition for the business success as the circular economy is a business intention. Thus, there is not significant reason-react dependence between these two business processes. And the paper aims to find out the exact dependence between them. Thus, the paper not just present the main foundations of the digitalization and circularity of economics (in 1st paragraph) but develop a research instrument (in 2nd paragraph) for analysis the exact correlation between ““industrial policy”” - ““Industry 5.0 digital instruments development”” - Policy for Circular Economy development. The main results are focused on the preferred policy instruments that force up the development of circular economy based on the business intention to digitalization and Industry 5.0 application.