The megatrend sustainability will significantly change the future value creation of manufacturing companies. Their current linear value creation models need to change to conform to the requirements of sustainability. To face the challenges the circular economy has emerged as a promising economic model. With the shift from a linear to a circular economy, companies have to adjust their current business models. However, they still lack knowledge and adequate methods to develop circular business models. Hence, the aim of the paper is a circular business model canvas (CBMC) for designing circular businesses. A systematic literature review was conducted to identify significant criteria for circular business models. The criteria were analyzed utilizing a qualitative content analysis to derive the business model elements required for the circular economy. Existing elements from the Business Model Canvas were enriched and five new elements, e.g., reverse logistics, were found. Then, the business model elements were logically arranged resulting in the CBMC. It guides companies to systematically develop business models for the circular economy. The CBMC was evaluated by applying it within a mediumsized company in the electronics sector.

Developing digital platform business models, especially in business-to-business (B2B) markets, has a high potential for companies who successfully develop their products in generations. The model of SGE - System Generation Engineering describes the development of mechatronic systems on subsystem level. The authors investigate to what extent a comprehensive and unified methodology can be identified, connecting the research areas of product development and digital B2B platform business models. Therefore, this study conducted a bibliometric analysis of scientific data to identify a research gap and a qualitative literature review to affirm the relevance of future research in this research area. The results show a gap between the research areas of digital B2B platform business models and product development. Essentially, several renowned platform researchers suggested performing future research with a methodology that fulfils the following purposes: (1) improve the general understanding of digital platforms, (2) understand their success factors and development, and (3) deal with challenges (e.g., monetization) and loss of valued personal relations in B2B markets through digitization.

The transition towards circular economy means a radical systemic shift that requires re-design and innovation of business models. However, this radical systemic shift also creates high levels of uncertainty, which pose challenges to the circular business model innovation (CBMI) process. Using the transition towards circular plastics as a case context, this study aims to conceptualize different forms of uncertainty affecting CBMI, and to link them with approaches for managing these uncertainties. Based on interviews with incumbent manufacturing firms that have transitioned to circular plastics, or are in the process of doing so, we identified three domains of uncertainty: goal uncertainty, development uncertainty, and outcome uncertainty. We discuss the nature and sources of these uncertainties, and present different approaches chosen by manufacturers to manage these uncertainties in the context of their business. Our findings highlight the complex nature of uncertainty, and the importance of a nuanced consideration of uncertainty as a factor in the CBMI process. Moreover, our mapping of core uncertainties for CBMI and approaches to manage these uncertainties can guide practitioners in the innovation process.

Digital Twins are one of the most trending topics. However, there are still open issues in the development of Digital Twins. One of these impediments is formulating a clear and valid value proposition of a Digital Twin. Therefore, this paper presents a novel business modelling approach for Digital Twins. Based on a literature review and an academic case study, different business modelling approaches and techniques were systematically compared, selected and adjusted in order to develop a new framework suitable for describing the value of Digital Twins. It consists of 10 steps – (1) describe a basic development concept of the DT, (2) identify the customer segments, needs and pain points, (3) derive a value proposition (4) identify revenue streams and values created, (5) identify key activities, (6) resources needed, and (7) necessary partners. (8) Adapt the organization to fit the business model and (9) evaluate the cost structure of the project. In the end, document and communicate the new business model (10). Each step is supported by auxiliary methods, tools and procedures. The approach was applied to a scientific case study. In an initial evaluation the overall applicability and usefulness of the approach were confirmed.

Crowdfunding is becoming increasingly popular for funding projects, particularly in the domain of product design, by asking a large group of people. Previous studies have indicated that creativity plays a significant role in product design and is considered an important factor of success for new product design and development. However, these studies have not explicitly explored the role of creativity in crowdfunding product design projects. This paper investigates this issue by conducting a case study employing expert evaluations of selected successful and unsuccessful crowdfunding product design project samples. The results of the study show there is a positive relationship between the creativity of a product and the success of its crowdfunding campaign. Therefore, creativity can be considered a success factor of crowdfunding. The study also suggests creative products, especially useful ones, might have more potential to attract people's willingness to fund them. This paper has contributed to the research on design, creativity, product design and development, and funding business models. Most importantly, this paper has raised the significance of creativity in design and business.

The emergence of intermediary platforms created networks that facilitate peer-to-peer interactions, as well as encourage the sharing of goods and services within the context of collaborative consumption and cost saving. This article sets out to inspect “why the sharing economy is so successful” and provide a critical viewpoint on the topic's essential ideas, while also taking a perspective on the advantages and disadvantages that affect the end users. A literature review paired with case studies of Airbnb, Uber, and other applications of the shared economy, looks upon how despite their rapid market growth in the past decade and public approval, such platforms caused disruptions to the markets they operate in. Results indicate that by being involved as a part of the collaborative consumption ecosystem, either as a provider or a user, the absence of personal ownership is key, while the utilisation of the product needs to be maximised to result in a pleasant experience. However, it is critical that the development of these platforms which thrive on connecting people stays closely monitored by regulatory bodies, and that the legislation needed for prevention of unethical practices follows quickly enough to ensure rightful operation.

To pursue business innovation with PSS, many different PSS concepts are designed and evaluated. Various business models of a PSS design concept are devised and evaluated as well. Evaluation of the economic sustainability of PSS business models is critical. This paper presents a systematic method to evaluate the economic sustainability of PSS business models using a system dynamics modelling template. System dynamics modelling task is challenging for practitioners due to the variety of variables comprising business model strategies and their complex interrelationships. To enable the modelling task, a system dynamics modelling template composed of six modules of customer acquisition, channel acquisition, profit creation, resource acquisition, PSS provision, and partnership pattern has been devised. The PSS business model evaluation method has been illustrated using a smart study experience management service system design case to demonstrate the proposed system dynamics modelling template can reflect the case-specific business model which consists of the particular business model strategies.

The interest in the Circular Economy (CE) has grown in recent years. Digital technologies (DTs) have demonstrated a potential synergy to achieve circular goals at the micro, meso, and macro-level. Although several studies in literature explore DTs and CE linkage, they have not been identified according to their primary research themes. This paper aims to identify the main research streams addressing CE and DTs. From a Systematic Literature Review and Content Analysis, we reviewed 40 articles and classified three primary research streams. (1) Industry 4.0 (I4.0) focuses on the relevance and role of I4.0 in the transition to a CE. (2) The Business research stream evaluated the connection between digital transformation and business. (3) The Sustainability research stream discusses sustainability issues such as waste management and smart cities. Based on the analyzed studies' purposes and gaps, we provide a research agenda for further research. Additionally, we explain the implications of DTs and CE to research on engineering design. Our paper guides researchers in their future research to focus on gaps that have not been answered and position their studies according to their research streams.

Over the recent years, several attempts were made to define the concept of the Digital Twin and to create a generic view for utilizing it within the industry. Still, many industry sectors are not able to transfer a generic definition into their product portfolio, as Digital Twins differ from each other to the same degree as physical products differ from each other. Hence, it is crucial to enlarge the definition towards a classification and business scenarios which enable sector specific views on the concept of the Digital Twin and help SME to utilize the concept towards their products. Future engineers will have to design physical products besides a digital counterpart and therefore have to identify interdependencies between these two products during the development. This paper discusses a generic definition of a Digital Twin that can be applied throughout different sectors as well as a classification for Digital Twins to enable the implementation of the concept on several maturity levels regarding the constraints of the product portfolio. In addition, these classes are viewed in different business scenarios and an outlook is given to further increase the usability of Digital Twins within new industry sectors.

Product concept generation and evaluation are critical for the success of new product developments (NPD) because managers need to select the most profitable product concepts. However, current approaches can be restricted to single products and do not cover product families' effects. Similarly, they do not necessarily capture all requirements and usually lack extensive cost analyses. Thus, this paper proposes a framework supporting product concept generation and evaluation by providing an accessible conceptualization to overcome the limitations. Using the so-called Extended Axiomatic Design (EAD) supports designers and managers to configure the requirements across product concepts' various domains while concurrently evaluating their economic consequences. The study applies the framework on a simplified case of a bottle manufacturer to conceptualize four product concepts. The case illustrates how the EAD can be used as a virtual testbed to generate and evaluate new product concepts. Finally, designers and managers can make more informed decisions about product concepts by considering their economic and engineering selection criteria to select the most profitable NPD project configuration.

Industry 4.0 is a great opportunity and a tremendous challenge for every role of society. Our study combines complex network and qualitative methods to analyze the Industry 4.0 macroeconomic issues and global supply chain, which enriches the qualitative analysis and machine learning in macroscopic and strategic research. Unsupervised complex graph network models are used to explore how industry 4.0 reshapes the world. Based on the in-degree and out-degree of the weighted and unweighted edges of each node, combined with the grouping results based on unsupervised learning, our study shows that the cooperation groups of Industry 4.0 are different from the previous traditional alliances. Macroeconomics issues also are studied. Finally, strong cohesive groups and recommendations for businessmen and policymakers are proposed.

This paper deals with the story and experiences of setting up a new start-up company with the ambition to scale using a software-based product. The paper is written by researchers for researchers interested in doing the same thing. The paper concludes that it can be very beneficial for research as the startup-can be seen as a data collection machine, but to set up a start-up company, comes with unforeseen problems along the way. A few of them involves: Do not rely on rational arguments (only), when marketing your product. Expect long lead-times. Work with multiple threads and secure funding early to ensure that you can finance your startup. Finally, you need to be committed, and you have to have a strategy to manage both your research and your commercial activities.

This study undertakes a systematic analysis of literature within Circular Economy (CE) in an industrial perspective, with a focus on understanding the consideration of the biological and technological cycles, as well as dual circularity. The paper articulates the key research differences, gaps and trends on the basis of publication evolution, key subject areas, influential journals and keywords co-occurrence mapping. The analysis shows the increasing publication trend with dominance of technological cycle and a wide variety of subject areas incorporated in CE biological, technological and dual cycles. Due to the multidisciplinary and transversal nature of CE, as well as its diverse interpretation and applications, an expansion and consolidation of the subject areas and journals are expected in the years to come. Analysis of co-occurrence on the authors' keywords underlined a limited focus of a business perspective research within the biological cycle, heterogeneous and proactive technological cycle but fragmented research on dual circularity. Further analysis of synergies and limitations is necessary to enhance business effectiveness towards enhanced sustainability.

With the quest for enhancing competitive position, fulfilling customer and sustainability demands, increasing profitability, asset manufacturing companies are now adapting assets towards product service systems (PSS) offered through performance contracts. Despite several benefits, the shift to performance PSS exposes industrial asset manufacturers' to performance challenges and risks. Currently, PSS designers face a challenge to exhaustively identify potential failures during PSS development. Knowledge of Product failures is critical prior to the engineering of PSS. This paper proposes a failure modes and effects analysis (FMEA) method to support designers' prioritise critical failures in performance PSS development. A case study of an optical sorting machine is used to demonstrate the method's application.

It is an agreed fact among scholars that services are more sustainable compared to the products. By offering services, traditional companies can lock their customers into a long-term and sustainable revenue generation settlement. Available academic literature is abundant with methodologies related to service development. However, this study investigates various value adding service options related to financing and ownership of a product that can be offered on top of the existing products. It is important to understand these options from the consumer as well as supplier perspective. The most well established options available for financing/ownership are compiled, and sorted with respect to intangibility, ownership, financing and value addition scale. The study argues that the identified options incrementally add value to the existing offering by increasing the purchasing power and reducing the ownership obstacles for the customers. However, for the supplier, the decision depends on the trade-off between value addition for the customers and the business model changes required.

Analyzing value creation and capture mechanisms of open source hardware startup companies, this paper illustrates how an open source strategy can make economical sense for hardware startups. By interviewing 37 open source hardware company leaders, 12 company community members as well as analyzing forum data of 3 open source hardware companies; we realize that by open sourcing the design of hardware, a company can naturally establish its community, which is a key element for a company's success. Establishing a community can increase customer perceived value, decrease product development and sales cost, shorten product go-to-market time, and incubate startups with knowledge, experience and resources. These advantages can compensate for the risks associated with open source strategies and can make open source design a viable product development strategy for hardware startups.

The status of Smart Home Appliances (SHAs) in the smart home industry has been raised as major components of a smart home. To design a good SHA, diverse stakeholders in the smart home ecosystem need to have a common understanding of smart homes and SHAs. However, the studies on what they are, especially those reflecting practitioners’ point of view, have been scarce.

In this research, we conducted systematic literature reviews and practitioner interviews using the concept mapping method to identify the attributes of SHAs depending both on academia and industry. In addition, we suggest a framework of the smart home ecosystem which describes how those attributes are revealed in the relationships among SHAs, users, and external stakeholders.

Since all of the interviewees are Korean SHA development professionals, the findings from this research could have been limited to the current status of the Korean SHA industry. Nonetheless, we expect that this research would contribute to building a consensus on what smart homes and SHAs are and provide the designers and developers of SHAs with systematic perspectives on smart homes.

In recent years major companies such as Philips, H&M and Google have adopted a circular economy agenda to promote sustainability. Design consultancies such as IDEO has developed and promoted a circular design guide to help companies in this endeavour. However, designing for a circular economy often require design and reconfiguration of entire value chains – making the transition towards a circular economy rather difficult. In this paper we analyse a development project from the Danish island of Bornholm to investigate how to align diverse actors across the value chain in a process of co-creating systems for a circular economy. We combine design, value chain considerations and circular economy mindsets to informing negotiations of concerns among actors in the value chain.

Such strategical navigation might involve:

1. Staging initial spaces for dialogue with central actors from the value chain and initiates a process of mapping out their concerns

2. Staging a re-alignment space where the diverse actors can meet and interact to discuss and negotiate their concerns and their roles in the network

3. Design and enactment of a number of objects to faciliate negotiations

A key question regarding business model innovation/development for circular economy is “how to make it happen in practice”? By systematically reviewing 92 approaches from circular economy and sustainability literature and practice, this research identifies requirements and proposes a holistic and systemic process for business model innovation for circular economy. This conceptual process model was consolidated based on the integration of the unique elements of sixteen existing process models. It comprises three-stages (sense, seize, transform) based on a dynamic capabilities view, and envisions 33 activities, 21 deliverables, 88 techniques/tools and 13 enablers or catalyzers for change. Besides enabling the view of processes and procedures with behavior and learning skills required to inspire circular economy thinking in business model innovation, it highlights the importance of 'formalized' decision-making procedures and includes activities to integrate sustainability thinking and to support the identification of required changes in product innovation/development.

The purpose of this paper is to analyse the challenges in the servitization journey of product-centric firms from an ecosystem perspective, considering both intra-firm and inter-firm levels. Prior research addresses the challenges of servitization in many sectors from different perspectives. However, the majority of studies primarily focus on the provider of an offering. There is a lack of in-depth studies on analysing servitization challenges from the broader set of network actors including customers, suppliers, and sub-suppliers at the intra-firm and inter-firm levels. A multiple case study method was used to analyse five product-centric firms from different industries that were engaged in servitization. At intra- firm level, our analysis shows that ‘coordination’ is a major challenge for the provider, supplier, and sub-suppliers, and that ‘uncertainty’ and ‘risk’ is a major challenge for the provider, customer, and supplier. At inter-firm level, ‘partnership management’ found to be a most significant challenge for provider, customer, supplier, and sub-suppliers. The study contributes to the discussion of the relational view approach for servitization research.