Leading the Loop: Anchor‐Led Orchestration in Nascent Circular Ecosystems—A Qualitative Case Study
通过分析一家德国中型创业企业，研究锚定企业如何在新兴循环生态系统中发起和协调变革，提出了五阶段过程模型和能力组合，为管理者和政策制定者设计并推广循环生态系统提供策略。
ABSTRACT The transition towards a circular economy necessitates coordinated, systemic change across value chains. Yet the role of anchor firms in initiating and orchestrating nascent circular ecosystems remains underexplored. Using an inductive, qualitative single‐case design, we analyse a German mid‐sized entrepreneurial firm, drawing on 21 interviews and over 1000 pages of archival material. We develop a five‐phase process model of early anchor‐led orchestration and a capability bundle centred on establishing circular intentions, setting foundational structures, aligning stakeholders around a circular value proposition, activating the ecosystem through experimentation and preparing for scaling. We highlight the importance of addressing deep cultural‐cognitive structures and building orchestration capabilities to overcome circular paralysis. We specify what makes circular ecosystems distinct from generic business or entrepreneurial ecosystems: higher dependence on policy‐making, reverse flows and intensive legitimacy work. The study theorises orchestration capabilities and offers actionable strategies for managers and policymakers to design and scale circular ecosystems.