Abstract
Despite the importance of business models for enabling a circular economy at a systems level, little is known about how value chain actors assess the circular business models that they are co-creating and how this assessment shapes their behaviour. Framing circular business models as a subject of legitimacy, this study explores how value chain actors respond when the value proposition of a circular business model seems proper, but the value creation and capture are debated. Based on interviews and workshops with 16 U.K. plastics sector organizations, this study shows how value chain actors respond to this hybrid legitimacy judgement by assuming a position of dynamic vigilance. This position affects the advising, contributing, lobbying, and trialling work that actors do to shape emerging circular economy institutions. We argue that the actors’ dynamic vigilance and advocacy work might be impeding a circular economy and corresponding business models.
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