Circular Economy Definitions Quiz
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Questions and Answers

What is essential for creating new business models according to the business model designer?

  • Focusing solely on financial aspects
  • Utilizing traditional marketing strategies
  • Specifying business model elements and their relationships (correct)
  • Establishing a single business model element

    • What distinguishes advanced business models from basic ones as mentioned by Chesbrough?

  • Their alignment with traditional business models
  • Their simplicity and ease of understanding
  • Their focus on product features alone
  • Their increased value and complexity (correct)

    • According to Johnson, what is involved in business model innovation?

  • A straightforward linear process
  • Incremental changes to existing models only
  • Innovating the fundamental theory of the business (correct)
  • Copying successful models from competitors

    • What research method was used to gather publications in the review process?

    <p>A systematic literature review with snowballing</p> Signup and view all the answers

    What was a key component of the data analysis in the literature review?

    <p>Content analysis and coding techniques</p> Signup and view all the answers

    What does business model innovation potentially involve according to the iterative journey concept?

    <p>Continuous refinement and experimentation</p> Signup and view all the answers

    The sampling process for the literature review increased the final number of publications to what total?

    <p>51</p> Signup and view all the answers

    Which keyword search string was primarily employed in the data search for this literature review?

    <p>circular* AND business model*</p> Signup and view all the answers

    Which term refers to the combination of upstream and downstream categories in a circular business model?

    <p>Fully circular</p> Signup and view all the answers

    What does the CBM strategy refer to that encompasses both 'narrowing' and 'slowing'?

    <p>Intensifying</p> Signup and view all the answers

    How many archetypes are present in the CBM typology systematized by Planning (2018)?

    <p>9</p> Signup and view all the answers

    Which of the following categories is NOT included in the resource efficiency measures (REM) for circular business models?

    <p>Technology side</p> Signup and view all the answers

    Which model focuses specifically on 'result-based' approaches?

    <p>Performance model</p> Signup and view all the answers

    What type of changes does the framework proposed by Yang et al. indicate for PSS business models?

    <p>Value creation for circularity</p> Signup and view all the answers

    Which of the following is NOT a category defined in the CBM archetypes?

    <p>Carbon capture</p> Signup and view all the answers

    Which aspect is included in the implementation barriers for Circular Business Models (CBMs)?

    <p>Organizational culture</p> Signup and view all the answers

    What is the core characteristic of a circular economy according to Yuan et al.?

    <p>Closed flow of materials through multiple phases.</p> Signup and view all the answers

    How does Webster define a circular economy?

    <p>An economy that is restorative by design, maintaining utility and value.</p> Signup and view all the answers

    What do Bocken et al. categorize as the characteristics of a circular economy?

    <p>Design and business model strategies that narrow resource loops.</p> Signup and view all the answers

    According to Kirchherr et al., how many definitions for circular economy did they review?

    <p>114</p> Signup and view all the answers

    What is the proposed new definition of a circular economy by Kirchherr et al.?

    <p>A system based on business models that replace the 'end-of-life' concept.</p> Signup and view all the answers

    What can business model innovation capabilities potentially lead to?

    <p>Dynamic sustainable competitive advantage for companies.</p> Signup and view all the answers

    Which aspect of circular economy is emphasized by the concept of 'resource loops'?

    <p>Slowing, closing, and narrowing resource flows.</p> Signup and view all the answers

    Which term is associated with the competitive advantage in business model innovation?

    <p>Renewable competitive advantage.</p> Signup and view all the answers

    What is the main purpose of business model innovation in relation to sustainability?

    <p>To achieve environmental quality, economic prosperity, and social equity.</p> Signup and view all the answers

    Which tier levels does the business model innovation concept focus on according to the content?

    <p>Micro, meso, and macro levels.</p> Signup and view all the answers

    What does the circular economy's definition simplify in its interpretation?

    <p>The end-of-life term to merely mean disposal.</p> Signup and view all the answers

    What is one of the benefits of sustainable business model innovation mentioned in the content?

    <p>Improved environmental and social outcomes.</p> Signup and view all the answers

    Which of the following are included as aspects that sustainable business model innovation aims to improve?

    <p>Financial, social, and environmental performance.</p> Signup and view all the answers

    What aspect of the circular economy concept do the authors criticize regarding its definition?

    <p>It places excessive focus on sustainability without context.</p> Signup and view all the answers

    According to the content, what is one outcome that companies can achieve through sustainable business model innovation?

    <p>Improved resilience to environmental challenges.</p> Signup and view all the answers

    What common theme is evident in the reviews and studies mentioned in the content regarding business model innovation?

    <p>An increasing recognition of the importance of this concept in academia.</p> Signup and view all the answers

    What is the primary goal of a circular economy?

    <p>To minimize resource input and waste.</p> Signup and view all the answers

    Which of the following best describes business model innovation?

    <p>Implementing entirely new business models.</p> Signup and view all the answers

    According to the content, which aspect of a business model can be affected by transformation?

    <p>The interrelations between elements.</p> Signup and view all the answers

    What is NOT a method mentioned for achieving a circular economy?

    <p>Expansion of waste disposal facilities.</p> Signup and view all the answers

    Why is a completely closed-loop system considered theoretically impossible?

    <p>Energy leakages are inevitable in any system.</p> Signup and view all the answers

    Which of the following options reflects the dynamic perspective of a circular economy?

    <p>Continuous improvement and adaptation in resource use.</p> Signup and view all the answers

    Which term refers to the cycling and reusing of materials in the context of circular economy?

    <p>Material loops.</p> Signup and view all the answers

    What can be a result of business model transformation?

    <p>Integration of digital solutions into operations.</p> Signup and view all the answers

    Study Notes

    Circular Economy Definitions

    • Multiple definitions of a circular economy exist due to the disruption of digital transformation.
    • Yuan et al. (2008) define it as the closed flow of materials and resources through multiple phases.
    • Webster (2015) describes it as a restorative system aiming to maximize product and material utility and value.
    • Bocken et al. (2016) characterize it by slowing, closing, and narrowing resource loops.
    • Kirchherr et al. (2017) define it as an economic system replacing "end-of-life" with resource cycling in production, distribution, and consumption at micro, meso, and macro levels, aiming for sustainable development.
    • Geissdoerfer et al. (2017) critique existing definitions for simplifying "end-of-life," reducing lifecycle stage focus, using a simplistic three-tier system, and overemphasizing sustainability aspects. They propose an alternative: minimizing resource input and waste, emissions, and energy leakages through cycling, extending, intensifying, and dematerializing loops. This can be achieved through various methods including digitalization, servitization, and sharing solutions.
    • A completely closed-loop system is theoretically impossible. The focus is on "going circular" rather than a static, fully circular system.

    Business Model Innovation

    • Business model innovation leads to higher returns than product or process innovations and provides a sustainable competitive advantage.
    • It's crucial for meeting social and environmental goals by utilizing effective technologies and solutions.
    • Sustainable business model innovation improves financial, social, and environmental performance and enhances resilience to environmental risks.
    • The concept has received increased academic attention, with numerous reviews published.
    • Geissdoerfer et al. (2018b) define business model innovation as the conceptualization and implementation of new models, encompassing the development, diversification, acquisition, or transformation of existing models. Transformation can impact any element of the value proposition, value creation and delivery, value capture, interrelations, and value network.

    Research Methodology

    • A systematic literature review was conducted using a three-step protocol (data search, data analysis, report).
    • The search string "TITLE-ABS-KEY (“circular*” AND “business model*”) was used in the Elsevier Scopus database initially.
    • Snowballing was employed to increase the sample size to 51 publications.
    • Content analysis and coding techniques were used to categorize publications by topic, including fully circular approaches (transforming all business model sub-systems).

    Circular Business Model (CBM) Strategies and Typologies

    • Geissdoerfer et al. (2018a) present a framework expanding on Bocken et al. (2016) by adding "intensifying" and "dematerializing" to CBM strategies.
    • Planing (2018) systematizes a CBM typology with nine archetypes.
    • Diaz Lopez et al. (2019) explain CBMs using resource efficiency measures (REMs), desirable changes in business model elements, implementation barriers, and degree/scope of change.
    • Yang et al. (2018) present a taxonomy and framework showing how product-service system (PSS) business models contribute to circularity value creation.
    • Lüdeke-Freund et al. use morphological analysis to explore the configuration of elements in 26 CBM archetypes.

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    Related Documents

    Circular Business Models: A Review (PDF)

    Description

    Test your understanding of the various definitions of circular economy. This quiz covers contributions from multiple authors, highlighting their unique perspectives on the concept. Explore how digital transformation and sustainability intersect through these definitions.

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