circular economy
what is it?
As humans, we generally live in a "linear economy," meaning that we create a product, use it, then dispose of it and create a new one ("take-make-waste"). Take a smartphone, for example. Every few years, we put our current phone in a landfill and rush to buy the newest model.
The idea of a circular economy is to "close the loop," and rethink our supply chains to eliminate waste. While there are many ways to think about a circular economy, perhaps the most obvious is to think of it in terms of reduce, reuse, recycle.
The business case for circular economy
The benefits of a circular economy on a more sustainable world are clear, but are there benefits for business as well?According to the World Business Council for Sustainable Development, transitioning to a circular economy represents a $4.5 trillion USD opportunity. In fact, moving to a circular economy, drives growth, enhances competitiveness, and mitigates risk. >>Read More
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BUSINESS MODEL STRATEGIES
The transition within business from a linear to a circular economy brings with it a range of practical challenges for companies. The following question is addressed: What are the product design and business model strategies for companies that want to move to a circular economy model?
