Circular ecosystem innovation portfolio management
The prominence of the circular ecosystem raises questions about how firms innovate by creating and enhancing circular ecosystems. Using multiple case studies of seven companies and their circular ecosystems, we propose a new framework which we refer to as circular ecosystem innovation portfolio mana...
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Veröffentlicht in: | Technovation 2023-06, Vol.124, p.102745, Article 102745 |
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Format: | Artikel |
Sprache: | eng |
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Zusammenfassung: | The prominence of the circular ecosystem raises questions about how firms innovate by creating and enhancing circular ecosystems. Using multiple case studies of seven companies and their circular ecosystems, we propose a new framework which we refer to as circular ecosystem innovation portfolio management. This new type of portfolio management addresses three different variations on circular innovation projects: new circular ecosystem innovation, architectural circular ecosystem innovation, and incremental circular ecosystem innovation. To deal with these projects, focal firms deal with four fundamental strategic decisions: internalizing, co-developing, inducing, and synchronizing. Three different strategic orientations explain how firms interpreted and dealt with their own needs and the circular ecosystem needs: circular egosystem, circular dominance, and circular health. The critical theoretical insight is circular ecosystem innovation portfolio management represents a new type of innovation process involving a new type of innovation project which increases our understanding of circular ecosystem heterogeneity and management.
•This study examines the innovation portfolio management for circular ecosystem innovation.•We conducted a rich, qualitative study on seven firms and their circular ecosystems.•We propose a new framework: the circular ecosystem innovation portfolio management.•We propose three circular ecosystem strategic orientations: circular egosystem, circular dominance, and circular health. |
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ISSN: | 0166-4972 1879-2383 |
DOI: | 10.1016/j.technovation.2023.102745 |