THE IMPORTANCE OF OPEN INNOVATION FOR THE DEVELOPMENT OF CIRCULAR ECONOMY

Purpose:The importance of OI for the development of CE is a relatively new field of research.The purpose of the study is to present the possibilities of supporting the circular economy through the adoption of the Open Innovation concept in the enterprise.Design/methodology/approach: A thesis was formulated assuming that the adoption of the Open Innovation paradigm is conducive to the implementation of the principles of the circular economy in the enterprise.The author's considerations are based on literature studies and a review of the results of selected secondary research.The basic research method is desk research (analysis of existing data).Findings: The author presented the possibilities for supporting the circular economy through Open Innovation activities, with an emphasis on cooperation between stakeholders and cocreation.The analysis of the results of selected existing studies allowed the author to confirm the thesis. Research limitations/ implications:A limitation of the study of the importance of OI for the development of CE is the concentration of considerations at the level of enterprises.Practical implications: The study promotes managers' focus on OI processes for the purpose of accelerating the transition to CE, indicating the preferred options for activities.Social implications: The inclusion of recommendations by leaders/managers should have a positive impact on the development of the circular economy.Originality/value: The results of the analysis have cognitive value in the context of drawing attention to the possible synergy between OI and CE.Managers were offered recommendations for a strategic approach to the utilization of OI for the development of CE.