Figure 1
The diagram is arranged around a dashed rectangular area at the center labeled “Transition Management (T M) Processes” at both the top and the bottom. On the left side, a rectangle labeled “Business model (B M)” contains the text “Product-orientated” and “customer-oriented”. An arrow points from “Business model (B M)” upward to a rectangle labeled “Business Model Innovation (B M I)”. Inside “Business Model Innovation (B M I)” with the text “Technology” and “Unique value”. Another arrow points downward from “Business model (B M)” to a rectangle labeled “Servitized Business Model (S B M)”. Inside “Servitized Business Model (S B M)” with the text “service-orientated”, “value-orientated”, and “functionality”. Arrows extend rightward from both “Business Model Innovation (B M I)” and “Servitized Business Model (S B M)” toward the dashed rectangular area labeled “Transition Management (T M) Processes”. A dashed horizontal arrow also extends from “Business model (B M)” toward the same central area. Inside the dashed rectangular area, four quadrants are indicated by dashed vertical and horizontal divider lines. The upper-left quadrant is labeled “Strategic activities”. The upper-right quadrant is labeled “Tactical activities”. The lower-left quadrant is labeled “Reflective activities”. The lower-right quadrant is labeled “Operational activities”. At the center of this dashed area is a large, bold rectangle labeled “Servitized Business Model innovation (S B M I)”. Inside this rectangle, the text reads “Energy or Space-as-a-Service”, “Performance-based contracting”, and “Shared-use and modular models”. To the right of this central rectangle is a smaller rectangle labeled “Circular Economy goals”. To the right of “Circular Economy goals”, a rightward arrow labeled “Enablers” appears. Above this arrow, the text reads “Strategic partnerships”, “Organizational agility”, “change leadership”, and “Strategic partnerships”. Below the arrow “Enablers”, the text reads “Digitization”, “Technology”, and “Policy support”. On the far right side, a rectangle labeled “Circular Real Estate (C R E) Outcomes” contains the text “Reduced carbon emissions”, “extension of building lifespans”, “Retrofitting and reuse of existing assets”, and “Creation of flexible, adaptive, and regenerative building systems”. The rightward arrow “Enablers” points from “Circular Economy goals” to “Circular Real Estate (C R E) Outcomes”.Servitized business model innovation (SBMI) framework for improved circular real estate. Source: Authors’ own work