A Framework for Sustainable Circular Business Model Innovation

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    Abstract

    The circular economy concept is a novel economic model aiming to foster sustainable economic growth, boost global competitiveness, and generate new jobs. In order to make the circular economy mainstream, radical and systemic innovation is needed. Currently, a majority of the business modelling tools and methods lack at least some of the identified and needed elements for innovating business models in a circular economy. In this article, we build a framework for sustainable circular business model innovation by adding important perspectives: recognizing trends and drivers at the ecosystem level; understanding value to partners and stakeholders within a business; and evaluating the impact of sustainability and circularity. We present the results of a case study with a startup company, which was designed to test the framework and provide a concrete example of its usage and future development.
    Original languageEnglish
    Pages (from-to)5-12
    JournalTechnology Innovation Management Review (TIM Review)
    Volume6
    Issue number7
    Publication statusPublished - 2016
    MoE publication typeA1 Journal article-refereed

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    Keywords

    • circular economy
    • sustainability
    • business model
    • business canvas
    • innovation
    • case study

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