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Circular Business Models for the Bio-Economy: A Review and New Directions for Future Research
Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Business Administration and Industrial Engineering.ORCID iD: 0000-0002-8939-5509
Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Business Administration and Industrial Engineering. Department of Management, University of Vaasa, Vaasa, Finland.ORCID iD: 0000-0003-3255-414X
Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Business Administration and Industrial Engineering.ORCID iD: 0000-0001-5464-2007
2019 (English)In: Sustainability, ISSN 2071-1050, E-ISSN 2071-1050, Vol. 11, no 9, article id 2558Article in journal (Refereed) Published
Abstract [en]

Circular and bio-economy represents a political and industrial initiative to ensure that our society can rely on renewable biological sources while achieving economic growth. However, there is a need to critical review how realistic and feasible such initiatives are towards fulfilling the promised benefits of this economy. The literature on bio-economy often discusses the importance of innovative business models and their role in a successful shift to a bio-economy. Still, much of the discussion that is related to circular business models is fragmented and immature. Therefore, the purpose of this study is to conduct a systematic literature review of circular business model activities and the barriers to a bio-economy. Further, this review provides future research directions for a shift to a bio-economy. This study is based on a systematic review of 42 scientific journal articles and book chapters on a forest-based bio-economy. The business model canvas is used to provide a structured aggregation of the existing circular business models activities being used by the forestry sector. In addition, we develop a framework that describes the barriers to bio-economy-based circular business models and suggest new directions for future research. The study highlights the need for alignment among the elements of a business model as a key condition for its successful implementation in a bio-economy

Place, publisher, year, edition, pages
MDPI, 2019. Vol. 11, no 9, article id 2558
Keywords [en]
bio-economy, circular economy, business models, circular business models, forest, literature review
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
URN: urn:nbn:se:ltu:diva-75076DOI: 10.3390/su11092558ISI: 000469518700106Scopus ID: 2-s2.0-85066949345OAI: oai:DiVA.org:ltu-75076DiVA, id: diva2:1331817
Note

Validerad;2019;Nivå 2;2019-08-15 (johcin)

Available from: 2019-06-27 Created: 2019-06-27 Last updated: 2019-08-15Bibliographically approved

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Reim, WiebkeParida, VinitSjödin, David

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