Designing business models in circular economy: A systematic literature review and research agenda

Abstract

The concept of circular economy is increasingly receiving attention in different domains, including strategic management, operations management, and technology management. It requires companies to design their business model (i.e., the value network, the relationships with the supply chain partners, and the value propositions towards customers) around a new concept of sustainable development that reduces consumption of natural resources and preserves the environment. However, extant research falls short in terms of explaining how companies design their business model according to the circular economy principles. Starting from this premise, the present paper provides a systematic review of the literature on the design of business models in the context of circular economy, aiming to offer an overview of the state of research and outline a promising research agenda.

Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There A Sustainable “Digital”?

“…For firms to be able to navigate these complex challenges, transforming their existing business models into Digital Business Models, with short-and long-term effects for resource allocation and reduced resource utilization towards a circular economy, becomes paramount for sustainable market activities [69,71]. The concept of a circular economy supports firms in operationalizing sustainable developments, which can be fostered through "digital" [72,73]: Through digital business models, potentially alongside intermediary integration where unavoidable, supply chains are enabled to reduce parts needed and to avoid waste, as well as to digitally transform the business model for sustainable value capture and value creation beyond mere resource consumption, while also being able to strengthen and deepen customer interaction [72,74,75]. Businesses can grow sustainably without increasing their environmental footprint.…”

The value relevance of corporate financial and nonfinancial information provided by the integrated report: A systematic review

“…Among the different types of reviews that can be conducted (Snyder, 2019), we can recall narrative reviews (Perego et al, 2016), systematic reviews (Centobelli, Cerchione, Chiaroni, Del Vecchio, & Urbinati, 2020;Cillo, Messeni Petruzzelli, Ardito, & Del Giudice, 2019;Saha, Shashi, Cerchione, Singh, & Dahiya, 2019;Widyawati, 2019;Tranfield et al, 2003), structured literature reviews (Massaro, Dumay, & Guthrie, 2016) We opted for a systematic review because it allows research on a particular question to be comprehensively located and synthesized, using organized, transparent, and replicable procedures at each step in the process (Littell, 2008) and because it is characterized, with respect to the traditional narrative review, by the rigor of the search process (Kitchenham & Charters, 2007). In detail, we follow the four steps proposed by Fink (2010), enriched using the structure proposed by Tranfield et al (2003), consistently with Stechemesser and Guenther (2012).…”

Critical success factors for a circular economy: Implications for business strategy and the environment

“…CE practices are one approach to achieving this global agenda (Prieto-Sandoval, Ormazabal, Jaca, & Viles, 2018). CE practices may drive industries to develop strategies for sustainable manufacturing practices (van Loon et al, 2018;Kwon & Lee, 2019;Centobelli, Cerchione, Chiaroni, Del Vecchio, & Urbinati, 2020). They can help minimize waste and build a resilient supply chain (SC) framework.…”