Value creation in circular economy business for sustainability: A stakeholder relationship perspective
通过研究一家芬兰能源公司的循环经济商业发展，识别出五种联合价值创造活动，并定义了多维价值概念，强调利益相关者关系在推动循环经济和可持续性中的关键作用。
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.