Rethinking Value - value circuit in a Circular Economy

Our paper explores value redistribution practices when transiting from linear to circular economy with a goal to encourage a circular approach. Reviewing the existing literature led to a new concept that we call a ‘value circuit’, which alters the commonly used value chain. By creating a data model, we structured the knowledge and data of the stakeholders. By introducing the concepts of ‘participation’ and ‘distribution’ we suggest a mechanism for measuring the value circuits. These indicators assist in fostering trust and provide more transparency in expenses and revenues, which makes us rethinking value in the era when values traditionally focus on consumption and linear economy. To make a change and provide value to the notion of ‘value’,
our research has resulted in visualizing the potential benefits when following a circular approach. Showcasing the value distribution and value contributors contributed to finding the indicators that can help with negotiation, convincing actors for fair behaviour across the circuit and committing to a circular economy. We realized during the research that mutual trust among the stakeholders is an absolute necessity for making the value circuit a viable approach. Trust, transparency, sharing, and cooperating are the new engines for sustainable growth and development, leading to value redistribution, encouraging the move towards the unavoidable circular approach.