Business Models and a Circular Economy: Degree of Circularity and Adaptations in Models
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Abstract
The transition to a circular economy leads companies to rethink their business model. This exploratory study has the purpose of delving deeper into the kind of actions or practices companies implement when they adopt the principles of circular economy, how these practices impact their business models and determine the degree of circularity that a business model achieves. To this end, two case studies of industrial companies in transition to a circular economy are analyzed. The findings of this research suggest that the type of circularity practices is distinctive and idiosyncratic to each type of business. In addition, the practices implemented are more focused on the value network than the value proposition of the business model. Lastly, the degree of circularity of the value network and of the value proposition of a business model may differ from each other, and depend on the company’s objectives, the magnitude and type of practices implemented, and the type of circularity practices implemented.
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