Josep Oriol Izquierdo-Montfort1,*, Yves De Rongé1
1 Université catholique de Louvain, LouRIM (Louvain Research Institute in Management and Organizations), 1348, Louvain-la-Neuve, Belgium
The transition towards a circular economy has become increasingly popular as a viable alternative to the current take-make-dispose model. To succeed in this transition, companies need to adopt new circular business models that retain the value of resources as close as possible to their original state. A wide variety of strategies have been proposed to achieve this goal, leading to the development of different classifications for circular business models by both academics and practitioners. In this paper, we conduct a systematic literature review of existing academic literature on circular business model classifications, analyzing them according to descriptive variables, content, and method. Additionally, we apply a selection of the identified classification methods to a sample of companies that have adopted circular business models to compare their applicability in a real-world context. Our study aims to contribute to the literature on circular business models by identifying the strengths and weaknesses of existing classification methods and key components to consider when creating future classifications. By doing so, we hope to assist both researchers and practitioners in identifying the most suitable classification method for their needs and contribute to the improvement of future classifications.
Circular Economy, Circular Business Models, Classification, Review, Taxonomy