WP02 – Circular Business Models
How can your company remain competitive and continue to grow without using ever more resources? How to create, deliver and capture value through new offerings, whilst also improving resource productivity and closing value chain loops? And, importantly, how to develop these propositions in such a way that they contribute positively to sustainability as a whole in terms of economic, environmental and social aspects? This work package addresses these questions by developing a tool to support the creation of sustainable circular business models, based on your company’s position in the value chain, current products and services, available best practices, success cases, promising new offerings and the strategic goals of your business.
This work package can affect the following aspects of your business:
• Business model, material selection & product development, packaging, logistics & through Life operations and resource recovery strategies. It may also involve the Internet of Things (IoT) and big data analytics.
The focus of this work package is on business model innovation, which may – depending on the situation of your company – also have implications for other aspects of your business. For example, transitioning to a service-based offering may require changes to product design to allow for easy repair or upgrading, and may involve changes to logistics operations. Likewise, opportunities for (closed-loop) recycling may exist, which can affect material selection and sourcing strategies.
>>WHAT YOU GET
By joining this work package your business will have the chance to explore new business model solutions, while receiving benchmarking, state-of-the-art scientific knowledge on business model development and methodological support to start your journey towards circular economy. Together with CIRCit researchers you will co-develop a tool that can be used to sensecheck and develop new business model alternatives now and in the future.
This work package provides you with:
• An overview of potential circular strategies for your company based on sector best practices and your current situation;
• A tool for designing and simulating different circular economy-based business model scenarios;
• A way to assess economic, social and environmental aspects of different business model scenarios to support decision, further detailing and implementation.
>>WHAT YOU GIVE
This is your chance to have an active voice in changing and contributing to the circular economy journey in the Nordic region. As a co-developer of the tool your company and potentially relevant partners are expected to:
• Engage and participate in meetings or workshops for applying the tool;
• Bring expertise from multiple functional areas to the meetings or workshops: i.e. product and services development, marketing and sales, logistics and operations, finance and accounting, legal and tax;
• Be flexible and open to experiment and co-develop a continuously improving tool that may require adjustments along the way.