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<p>This paper aims to conceptualize a Co-creative Circular Business Model (CCBM) for entrepreneurs to achieve a Circular Economy (CE). Given the environmental concerns, businesses are becoming more innovative and sustainable to survive in the Volatile, Uncertain, Complex, and Ambiguous (VUCA) world. This has prompted entrepreneurs to implement the strategies to achieve sustainable, viable business solutions. Various studies on CE and sustainability have highlighted the importance of co-creation and collaboration. However, research on how entrepreneurs can co-create with stakeholders through various entrepreneurial strategies and the implications or outcomes within the Triple Bottom Line (TBL) framework remains scant. Thus, this paper presents a conceptual CCBM framework grounded in entrepreneurial strategies and interpreted through the lens of the VRIO framework for achieving Long-Term Sustainable Competitive Advantage (LTSCA). The authors first examine existing Circular Business Models (CBMs) from an entrepreneurial perspective, then explore the roles entrepreneurs can play in implementing Circular Economy Principles (CEP) through an entrepreneurial theoretical lens, and finally conceptualize a CCBM framework to advance CEP adoption and promote sustainability. Further, the study presents a flow diagram that guides entrepreneurial decision heuristics, supporting entrepreneurs in the decision-making process. This study offers a structured pathway to address three key practical challenges entrepreneurs face in implementing CE practices: (1) transitioning from LBM to CBM, (2) managing diverse stakeholders with conflicting interests, and (3) preparing organizations to build LTSCA in a VUCA environment. The study identifies future research avenues to examine the proposed model in a disaggregated and stage-wise manner, enabling deeper insights into the nuances of entrepreneurial opportunities and challenges in implementing CCBM.</p>

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At the Crossroads of Choice and Consequences: Co-Creative Circular Business Model Framework for Entrepreneurs

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2026年6月15日

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  • Amisha Shah,
  • Akriti Chaubey,
  • Madhura Bedarkar,
  • Arjun Panchal

摘要

This paper aims to conceptualize a Co-creative Circular Business Model (CCBM) for entrepreneurs to achieve a Circular Economy (CE). Given the environmental concerns, businesses are becoming more innovative and sustainable to survive in the Volatile, Uncertain, Complex, and Ambiguous (VUCA) world. This has prompted entrepreneurs to implement the strategies to achieve sustainable, viable business solutions. Various studies on CE and sustainability have highlighted the importance of co-creation and collaboration. However, research on how entrepreneurs can co-create with stakeholders through various entrepreneurial strategies and the implications or outcomes within the Triple Bottom Line (TBL) framework remains scant. Thus, this paper presents a conceptual CCBM framework grounded in entrepreneurial strategies and interpreted through the lens of the VRIO framework for achieving Long-Term Sustainable Competitive Advantage (LTSCA). The authors first examine existing Circular Business Models (CBMs) from an entrepreneurial perspective, then explore the roles entrepreneurs can play in implementing Circular Economy Principles (CEP) through an entrepreneurial theoretical lens, and finally conceptualize a CCBM framework to advance CEP adoption and promote sustainability. Further, the study presents a flow diagram that guides entrepreneurial decision heuristics, supporting entrepreneurs in the decision-making process. This study offers a structured pathway to address three key practical challenges entrepreneurs face in implementing CE practices: (1) transitioning from LBM to CBM, (2) managing diverse stakeholders with conflicting interests, and (3) preparing organizations to build LTSCA in a VUCA environment. The study identifies future research avenues to examine the proposed model in a disaggregated and stage-wise manner, enabling deeper insights into the nuances of entrepreneurial opportunities and challenges in implementing CCBM.