Keywords
Reverse Cycle Strategy
Business Model Canvas
Sugarcane Agribusiness
Circular Economy
How to Cite
Abstract
This study integrates The Reverse Cycle Strategy (RCS) framework within circular business model innovation, focusing on sugarcane agribusiness as an innovative foresight. Empowering the qualitative method, the research utilises the Business Model Canvas (BMC) to visually articulate and analyse business operations, interactions, and the impact of the RCS's ten principles (10R). These principles aim to facilitate a transition from linear to circular business practices, encompassing R0-Refuse, R1-Rethink, R2-Reduce, R3-Reuse, R4-Repair, R5-Refurbish, R6-Remanufacture, R7-Repurpose, R8-Recycle, and R9-Recover. The findings reveal that incorporating the full spectrum of the RCS enhances the business models' circularity and significantly influences sustainability outcomes. Unlike previous studies focusing on one to three RCS principles, this research demonstrates that a holistic approach can lead to more substantial environmental and operational improvements. The built framework has four sequences: Reviewing and canvasing the current business model. Second, identify opportunities and challenges in each reverse cycle strategy, considering the market, technical, operational, financial, regulation, and social-environmental aspects with prioritisation if needed. Third, Update and visualise the Innovated Circular Business Model Canvas. The last is validation using circular business indicators. This approach has uncovered opportunities for more efficient resource utilisation, reduced waste, and innovative product differentiation like brown sugar, including developing value-added by-products like organic fertiliser in the sugarcane sector. The practical implications are profound, offering actionable insight for agribusiness practitioners to adopt circular strategies effectively, which could be foresight and replicated in other contexts, businesses or industries. The originality of this research lies in its comprehensive application of the RCS within the BMC innovation framework, providing a novel methodological approach to circular business model innovation. This study contributes significantly to the academic literature on circular economies. It offers a robust model for practitioners implementing sustainable business practices under the auspices of the circular economy paradigm.
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