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Applying the circular economy to a business model: an illustrative case study of a pioneering energy company

Author

Listed:
  • Ville-Veikko Piispanen
  • Kaisa Henttonen
  • Eeva Aromaa

Abstract

While the circular economy (CE) has awakened discussion in business model literature, understanding of the circular business model (CBM) and value-creation opportunities in practice has been limited. This study focuses on one sustainable business model archetype: creating value from waste. It supports sustainable development by material circulation. We aim to provide an answer to the question of how a company converts its resources and capabilities into economic value by creating value from waste. This single case study in the Finnish energy sector focuses on a pioneering company applying CBM. The analysis more specifically illustrates the nine main elements of a business model: customer value proposition, segments, customer relationships, channels, key resources, key activities, partners, costs and revenues. Furthermore, we illustrate the internal and external adoption factors required to transform a business model canvas (BMC) to a CBM framework.

Suggested Citation

  • Ville-Veikko Piispanen & Kaisa Henttonen & Eeva Aromaa, 2020. "Applying the circular economy to a business model: an illustrative case study of a pioneering energy company," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 24(4/5), pages 236-248.
    • Handle: RePEc:ids:ijeima:v:24:y:2020:i:4/5:p:236-248
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    Cited by:

    1. Jashim Uddin Ahmed & Quazi Tafsirul Islam & Asma Ahmed & Sakib Bin Amin, 2023. "Extending Resource Value-Based Circular Economy Business Model in Emerging Economies: Lessons from India," Business Perspectives and Research, , vol. 11(2), pages 309-321, May.
    2. Hanna Lehtimäki & Ville-Veikko Piispanen & Kaisa Henttonen, 2020. "Strategic Decisions Related to Circular Business Model in a Forerunner Company: Challenges Due to Path Dependency and Lock-In," South Asian Journal of Business and Management Cases, , vol. 9(3), pages 402-412, December.

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