Morphology for circular economy business models in the electrical and electronic equipment sector of Singapore and South Korea: Findings, implications, and future agenda

Kim, Chang H., Kuah, Adrian T.H., and Thirumaran, K. (2022) Morphology for circular economy business models in the electrical and electronic equipment sector of Singapore and South Korea: Findings, implications, and future agenda. Sustainable Production and Consumption, 30. pp. 829-850.

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Abstract

Moving to a circular economy requires manufacturers and producers to rethink their business model for a stronger value proposition and delivery. Many businesses have implemented circular economy business models (CEBMs) with different design options to accomplish sustainable business goals and economic prosperity. However, the unexplored options in the design of CEBMs can be a significant obstacle in the transition to a circular society. This paper seeks to investigate the CEBM design options currently re- ported in the Electrical and Electronic Equipment (EEE) sector of Singapore and South Korea, proposing a research agenda to advance circular economy research in both countries. In this systematic review, we follow four basic dimensions in a business model, value proposition, value delivery, value creation, and value capture, in a morphological analysis of 119 publications to identify business model design options in the Electrical and Electronic Equipment sector of Singapore and South Korea. Our findings showed that producers in both countries were similar in their intentions yet adopted different approaches regarding the four dimensions. In Singapore, result-oriented CEBMs and cooperation with the local government and community emerged as major design options. On the other hand, in the South Korean context, rental or leasing business models using the membership system with personalized home visiting service and the use of digital capabilities were rampant. These findings are expected to help producers and practitioners understand and adopt better design options to drive their business models,

Item ID: 72569
Item Type: Article (Research - C1)
ISSN: 2352-5509
Keywords: Circular economy, Circular economy business model, Morphological analysis, Singapore, South Korea
Copyright Information: Crown Copyright © 2022 Published by Elsevier Ltd on behalf of Institution of Chemical Engineers. All rights reserved.
Date Deposited: 18 Aug 2022 01:42
FoR Codes: 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3599 Other commerce, management, tourism and services > 359999 Other commerce, management, tourism and services not elsewhere classified @ 50%
41 ENVIRONMENTAL SCIENCES > 4104 Environmental management > 410402 Environmental assessment and monitoring @ 25%
41 ENVIRONMENTAL SCIENCES > 4105 Pollution and contamination > 410599 Pollution and contamination not elsewhere classified @ 25%
SEO Codes: 11 COMMERCIAL SERVICES AND TOURISM > 1103 Property, business support services and trade > 110399 Property, business support services and trade not elsewhere classified @ 100%
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