The continuously increasing research about Circular Economy and its implementation in practice is of a high relevance for the environment, businesses, as well as society. The realization in the business environment requires the focus on innovation processes establishing the emerging research field of Circular Oriented Innovation (COI). Yet, a framework providing a holistic overview of the innovation activities, actors and capabilities for companies on the transition towards circularity is missing. To tackle this research gap, an initial conceptual framework is developed based on an integrative literature review reflecting the current state of research on COI and related fields. As a result, activities, actors, and capabilities as key constituents of COI from an organizational perspective are clustered along the innovation dimensions of ecosystem, business model, and product and service.