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Integrating circular economy strategies and business models: a systematic literature review

Mohammad Hossein Foroozanfar (Faculty of Entrepreneurship, University of Tehran, Tehran, Iran and Faculty of Tourism, Higher Education Complex of Bam, Bam, Iran)
Narges Imanipour (Faculty of Entrepreneurship, University of Tehran, Tehran, Iran)
Seyed Mojtaba Sajadi (School of Strategy and Leadership, Faculty of Business and Law, Coventry University, Coventry, UK and Faculty of Entrepreneurship, University of Tehran, Tehran, Iran)

Journal of Entrepreneurship in Emerging Economies

ISSN: 2053-4604

Article publication date: 5 July 2022

Issue publication date: 30 November 2022

54346

Abstract

Purpose

This study aims to undertake a review of the circular economy (CE) and business model (BM) literature by conducting a thematic analysis and developing a framework.

Design/methodology/approach

To address the research questions, a systematic literature review was conducted. Finally, 106 publications were chosen based on two main criteria.

Findings

The authors performed an athematic analysis of CE drivers. This analysis identifies five key areas: environmental, economic, social, regulatory and institutional factors, as well as emerging approaches for addressing CE drivers. A framework for the circular economy business model (CEBM) has been developed by integrating BM value dimensions and three primary CE strategies, including closing, slowing and narrowing resource loops. Additionally, the authors’ framework considers the CEBM’s sustainability impact in emerging economies.

Research limitations/implications

This study is limited in two ways: one is inherent in the concept of CE, particularly CEBM, and the other is methodological.

Originality/value

This study contributes to the body of knowledge about CE and BM in three ways. First, this research includes a thematic analysis of CE drivers, as well as themes and subthemes. Additionally, the authors discuss an emerging approach for CE drivers. Second, the authors make a contribution by proposing a framework for CEBM that takes value dimensions and CE strategies into account for the emerging economy context. Third, the authors shed light on potential avenues for further research.

Keywords

Acknowledgements

The authors sincerely thank the authors cited in this article for their outstanding work, as well as the editors and reviewers for their patience, effort, and time, including the insightful recommendations they provided.

Citation

Foroozanfar, M.H., Imanipour, N. and Sajadi, S.M. (2022), "Integrating circular economy strategies and business models: a systematic literature review", Journal of Entrepreneurship in Emerging Economies, Vol. 14 No. 5, pp. 678-700. https://doi.org/10.1108/JEEE-10-2021-0411

Publisher

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Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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