Investigating the existing business models innovation development in the solar Photovoltaic (PV) companies
Kusi, Bernard (2022)
2022
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202202282932
https://urn.fi/URN:NBN:fi:amk-202202282932
Tiivistelmä
Up to date the world have lived with economic model that extract natural resources, product goods, consume, and disposed of. This practice has led to increased waste of resources and environmental pollution. Circular economy(CE) is a new economic model that guarantees sustainable growth. Transition into circular economy offers a benefit not only for the environment but also social and economic dimensions. Closing material and energy flow reduces costs and allows businesses to offer an innovative value to customers. This study assessed the solar PV panels design and business models of three(3) solar PV companies based in Ghana and Finland, in respect of their circular economy fit.
The study applied a qualitative case study research approach where these companies participated in the qualitative interview. SWOT analysis tool was applied to analyze the business models of selected companies to identify their strengths, weaknesses, opportunities, and threats related to business competition and the threat from the business environment. A circularity assessment method based on Ellen MacArthur ReSOLVE framework was applied to identify the aspect of the applied business model that shows circular economy(CE) transition signs. The findings depict that some of the business model innovation processes within the solar companies that participated in this study are compatible with the concept of circular economy(CE). However, this experience instead results from pursuing market competitiveness rather than a commitment to sustainable development. It is evident that the appearance of circular economy concerns economic, environmental, and social dimensions.
The study applied a qualitative case study research approach where these companies participated in the qualitative interview. SWOT analysis tool was applied to analyze the business models of selected companies to identify their strengths, weaknesses, opportunities, and threats related to business competition and the threat from the business environment. A circularity assessment method based on Ellen MacArthur ReSOLVE framework was applied to identify the aspect of the applied business model that shows circular economy(CE) transition signs. The findings depict that some of the business model innovation processes within the solar companies that participated in this study are compatible with the concept of circular economy(CE). However, this experience instead results from pursuing market competitiveness rather than a commitment to sustainable development. It is evident that the appearance of circular economy concerns economic, environmental, and social dimensions.