Developing business models for a circular economy: development guided by strategy and dynamic capabilities
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2020-08-27
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en
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Abstract
The Circular Economy (CE) proposes a new way of organizing production and
consumption systems by introducing a circular flow of resources, materials and products in
order to create economic, environmental and social value. Business have a crucial role, as they
have the ability to redesign their products, services and processes in a way that addresses
current resource inefficiencies. A tool that can help businesses in conceptualizing this redesign
are business models (BMs). This thesis provides understanding on how these specific BMs are
created by answering the following research question: What are the key elements for
developing business models for a circular economy (BMCEs)? Most research has focused on
types of BMCEs or appear to assume one-shot BM- innovations, while a continuous process
of reconfiguration and development is more likely. A literature review on CE, BM(CE), dynamic
capabilities and strategy was conducted in order to develop a theoretical framework that
elaborates on this process of developing BMCEs. The elements identified were strategy,
dynamic capabilities, resources, capabilities, stakeholder collaboration and multidimensional
value. The theoretical framework, therefore, adds to the current body of knowledge by
offering a dynamic perspective on how to develop BMCEs and by identifying possible
manifestations of the identified elements.
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Faculteit der Managementwetenschappen