By focusing of the more challenging strategies in the circular economy- the higher strategies in the waste hierarchy such as reuse and repair - Nancy Bocken and Jan Konietzko of Circular X revealed various tools, methods and approaches that companies can use to transform their business models for the circular economy.
Nancy Bocken & Jan Konietzko have published a new article on how large consumer-facing companies innovate their business models for the circular economy.
Through interviews with innovators at IKEA, Philips and H&M they found out how they experiment with the more challenging circular business models focused on the higher levels of the waste hierarchy, such as mainstreaming secondhand, repair practices and remanufacturing. They found that the companies all started with a strong circularity vision, and follow with stages of sensing (scanning the market and identifying opportunities), seizing (mobilising resources) and transforming the business (launching new business models and scaling up).
They also identified typical tools, methods and practices used that build on design thinking, lean startup and corporate venturing processes, but these are supplemented with specific circularity tools such as Circulytics developed by the Ellen MacArthur Foundation.
View the full-text article here.
