 Value creation in circular economy business for sustainability: A stakeholder relationship perspectiveRiikka Tapaninaho and Anna Heikkinen Business Strategy and the Environment, 2022, vol. 31, issue 6, 2728-2740 Abstract: A circular economy (CE) requires companies to rethink their value creation and stakeholder relationships. While value creation in a CE business is typically understood from a company‐centric perspective, this article utilises stakeholder theory to conceptualise value creation as a relational, systemic activity involving multiple stakeholder relationships. We conduct a case study of the CE business development of a Finnish energy company and offer novel insights by identifying five joint value creation activities: sharing the CE story, co‐constructing knowledge for political decision‐making, developing the industry, creating local CE ecosystems and refining the business model. Additionally, we define the concept of multidimensional value, which acknowledges multifaceted, subjective stakeholder value expectations and enables the engagement of stakeholders in joint value creation activities. We conclude that the stakeholder relationship perspective on CE business value creation allows for the creation of the synergy necessary to advance CE business and sustainability. Date: 2022 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:bstrat:v:31:y:2022:i:6:p:2728-2740 Ordering information: This journal article can be ordered from Access Statistics for this article Business Strategy and the Environment is currently edited by Richard Welford More articles in Business Strategy and the Environment from Wiley Blackwell |
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