![]() ![]() It is based on supplying fully renewable, recyclable, or biodegradable resource inputs that sustain circular production and consumption systems. They can be used singly or in combination to support companies achieve massive natural resource productivity. They have their own distinct characteristics but precisely boundaries between them do not exist. It should be noted that the briefly described types do not necessarily present full business model innovations, but rather, key elements of strategies that contribute to a circular business. ![]() ![]() The following identified circular business model typology provides opportunities for implementing the idea of circularity at a practical level. The move to a circular business model is an example of a fundamental change, which requires a new way of thinking and doing business. Rather, they concentrate on redesigning and restructuring Product-Service-Systems from the bottom up to ensure future viability of business activities and market competiveness.Ĭircular businesses are deeply involved in the product usage phase they generate revenues through provisioning services instead of selling physical products they rethink the conventional producer-consumer-relationships, value creation activities and the structure of value chains ecological and social factors complement the overall business culture and philosophy. A circular business model articulates the logic of how an organisation creates, offers, and delivers value to its broader range of stakeholders while minimising ecological and social costs.Ĭircular businesses no longer focus mainly on profit maximisation or pursue cost-cutting through greater efficiency in supply chains, factories, and operations as the primary corporate objective. ![]()
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