Advancing Circular Business

Abstract

In this world of scarce resources, circular economy (CE) has been identified as an important means for increasing resource efficiency and reducing the use of natural resources. What, however, does implementing circular business and operational models mean for companies’ business execution, mindsets, and competitive edges? This publication presents the practical case studies of several different CE business implementations. The focus on this exploration was to identify the role of information management in successful CE business implementation. The outcomes offer a chance for different representatives of different firms to learn from practical cases of CE implementation in operational and business models. This publication aims to show the pathway toward CE by providing 1. a description of CE 2. an explanation of its impact on business execution 3. stories about the role of information in the creation of CE business 4. practical tools for the creation of CE business The structure of the publication tracks similar logic to, and presents practical case examples from, the field of CE business. Tools and methods were applied and further developed within the case companies: BMH Technology, Fortum, Solita, and UPM. The publication presents the major results of research and development work performed within the “From Data to Wisdom—Approaches Enabling Circular Economy” project (D2W). The project was initiated in August 2016 and continued until January 2019. The research work was conducted by VTT, LUT University, and Tampere University as part of the BioNets program of Business Finland. The project provided a good overview of the demands of CE business in a multidisciplinary multi-company setting. It focused on three approaches for examining circular business: innovation and business models, relationships and networks, and data and wisdom. Since D2W had a broad scope, some of these approaches should be developed further to provide practical tools for business developers (companies and organizations). The work of D2W will therefore continue. Case-specific projects are being considered to develop practical results for the needs of practitioners interested in improving their capabilities for CE business creation. Examples of new topics for the subsequent steps of research include, for example: • Key performance indicators of CE and sustainable development • Governance of CE business ecosystems • New artificial intelligence (AI) technologies, opportunities and requirements in CE business implementation