Critical Success Factors for Circular Business Model Innovation from the Perspective of the Sustainable Development Goals

Abstract

Circular business model innovation offers a path for the transformation of companies, enhancing resource productivity and efficiency, while also contributing to sustainable development. These fundamental changes in business are accompanied by a variety of challenges and barriers. To support companies on their journey, only a few studies have investigated the critical success factors for circular business model innovation through literature analysis. To contribute to this research, in this study, a methodological approach, mainly based on expert interviews, is proposed to gain in-depth insight into critical success factors for circular business model innovation. As a result, a framework covering critical success factors for circular business model innovation is developed, comprising nine top-codes and 37 sub-codes, and an analysis of each factor’s contribution to the UN’s Sustainable Development Goals is performed. The study thereby extends the theoretical basis for further research on circular business model innovation, as well as identifies their practical implications.