The circular economy (CE) has become a prominent topic in the literature of natural sciences and management in recent decades. Circular economy is a two-loop regenerative system that focuses on the effective and efficient use of resources in the ecosystem, which is useful for optimizing environmental and economic performance. Dual CE initiatives allow companies to increase productivity as well as the environmental effectiveness of resources. The circular economy has profound implications for economic and operational advantage. To evaluate and advance the depth and diversity of this concept, it is necessary to consider a definition that can provide guidelines. The purpose of this research is to provide a definitional analysis of the circular economy and suggest future research streams to advance the existing literature. A systematic literature review was utilized to gather relevant publications in the circular economy for this purpose. A practical definition of circular economy was presented after selecting, studying, and analyzing 112 articles which includes the identified main elements, organizational planning processes, customers and society, ecosystem use and economic resource flows. According to this definition, the dominant issues in circular economy research are discussed and several future research proposals are presented in this field.
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