The Smart Circular Canvas: Connecting Data-Driven Intelligence with Circular Value Creation

Abstract

Data and digital technologies play a crucial role in optimizing the circular economy, serving as catalysts for promoting circular business models. However, organizations struggle to develop circular business models due to a lack of knowledge and creativity, as well as organizational barriers that hinder the innovation of new business models. Strategic management tools such as Visual Inquiry Tools can help to create new business models. Therefore, we developed a new business model tool using a Design Science Research approach, called “The Smart Circular Canvas,” which consists of 15 relevant elements subdivided into four layers. This tool addresses the current gap in existing canvases by integrating the role of data. The layers were developed based on two extensive literature reviews, from which three concept matrices were derived. Furthermore, the canvas was adapted successively during the evaluation process. Its practical suitability was tested with real use cases.