Circular Economy Conceptualization, Fundamental Principles And Design Process

The first is to “radically increase the productivity of resource use,” if we are more smart with our resources we can be more productive, they can last longer, and we can get more out of what we take. The second is to “shift to biologically inspired production with closed loops, no waste, and no toxicity.” Attempting to do thing that has little to no waste, when we are wasting resources nobody wins. Third, “shift the business model away from the making and selling of “things” to providing the service that the “thing” delivers.” Instead of relying on objects that we make, sell, and buy with our resources, we should look to figure out a way to allocate services that those objects do. Finally, “reinvest in natural and human capital,” reinvest in what works is how to grow. Educating the people who are working and recycling when possible (Gould & Lewis

Sibelco sand mining company was founded in 1872 and have become a multinational business. They use raw materials from the environment to “provide solutions for society and support the cradle to cradle loop” (Sibelco, 2018). “Cradle to cradle is a sustainable business strategy that mimics the regenerative cycle of nature in which waste is reused” (Winston, n.d.). Sibelco utilises the cradle to cradle loop in order to maintain environmental mindfulness whilst working closely with local authorities and optimising their operational performance, ensuring the smallest amount of disruption (Sibelco,

There are several obstacles for manufacturers attempting to employ changes in their processes for more sustainable practices. One problem that manufacturers will run into is the lack of direction. Knowing that change is needed is the easy part of reaching sustainability. Knowing what changes to make is a much more complicated challenge. The idea of sustainability is discussed often, yet broad scope ideas are traded without specific details and applications. Team B Consultants Inc. (TBCI), is the

In Cradle to Cradle by William McDonough and Michael Braungart, the two authors take into great detail by explaining the “cradle-to-grave” manufacturing system. The system explains every step of a product’s life from the creation to the disposal of the product. It is important to learn about this system because in order for a company to track and take responsibility of their hazardous waste. The system itself explained where products are created and the mass production goes into this system without enough consideration for human health and the environment. McDonough and Braungart promote for a new framework where companies take into consideration at every step of a product’s lifestyle.

“Recycle”, “reuse”, “repurpose” are words often spoken as the world grapples with the ever increasing burden daily life is placing on the environment. Everything - from the cars we drive, to the electricity used to power appliances and other conveniences, to the clothes we wear and the foods we consume – affects the environment around us. Natural resources are being depleted and the purity of the air we breathe and the water we drink is being compromised – a result of creativity and progress in an effort to improve our lives. Throughout the past several years, the government has offered tax credits to promote implementation of products aimed at reducing environmental impacts.

The United States is economy is based on a consumption driven model. Corporate law has more to do with lining shareholder pockets than environmental protection. Externalities have become a byproduct of doing business in the United States. Perhaps this is why economics has become an environmental issue as well as a financial one. The release of greenhouse gasses into the environment is increasing. The environmental impact of electronic goods is negatively affecting our ecosystem. From water, to farming, to the amount of trash we dispose of our consumption continues to impact our environment in negative ways; in the not so distant future the damage could become irreversible. Recycling helps a great deal, but, the only reasonable path back to a sustainable way of life must, by necessity, include less consumption.

(Bell , et al., 2014) The demand for goods, how industry supplies goods, and the use and disposal of them will be minimised, due to this circular strategy, giving avail to the beautiful land and oceans of Scotland. Introducing the globe to a cleaner recycling program to help reserve the nations industrial integrity and bring a revolution to the forefront where air quality improves and the minimisation on of pollution and land, linking to a cleaner and more sustainable future.

It is clearly shown on the video that circular economy is playing a significant role in the process. One example of a Circular Economy could include food waste, natural yarns, wood products and biopolymers (Andrews 2015). In this case, the company trying to build a strong connection with all the suppliers and other stakeholders in purpose to maintain the quality and help to create an interdependence connection among each other. In return, the company will receive a farm welfare from the partners. Maintaining great working condition also will help to increase the productivity of the process, as well as to maintain the material still possess the highest quality.

One positive implication capitalism has to the natural environment is industrial ecology, a system of chain production and consumption, serving to the lowest environmental impacts in a most environmentally sustainable economy as the main goal of operation (Richards & Pearson, 1998). The Companies in a like to operate in such way because of four major reasons. The most important factor is known as the corporate well-being, for it is determined by higher profits and growth provided by innovations in an industry. Profits are increased from recognizing the production ineffiency costs that comes from wasted inputs and energy losses; this allowing cost savings to increase and ineffiency to decrease. compliance with cleaner technology alternatives such as ones that produce less waste and less energy will provide long term savings which are both beneficial to the environment and the business at hand. A real world example freight company changes their salvaged driving equipment to hybrid vehicles. Money is temporarily lost, but the gasoline and maintenances cost savings will compensate in a long run period of time.

The solution to the faulty global supply chain, presented by Timothy Smith’s Climate Change: Corporate Sustainability in the Supply Chain, lies within including environmental sustainability into; transnational policy regimes, technological development, and consumptive behavior of society.

In a culture based on consumption and consumerism businesses are the forefront of society providing every good and service imaginable. Although, in today’s society there has been an increase in significant issues concerning the ecology of our planet that have come along with this consumer culture. With issues such a lack of clean water, lack of food, lack of energy and a rapid decline in biodiversity. This rapid decline in natural resources is due to mostly to the over consumption and alteration of the planet and its resources. Where do we start though in the process to protect and preserve our resources? It starts with the very businesses that we all buy from; a major part of our everyday lives and the largest consumers of resources businesses can play a large role in sustainability and climate action. Increasing pressure is being put on businesses to create a more sustainable society, this is being done through many business sustainable business efforts.

"Because we don 't think about future generations, they will never forget us” (Tikkanen, 2011). These are the types of thoughts that have led Americans and other nations to encourage their citizens to “Go Green” in an effort to aid the Earth in its recovery from modern human desecration. “Going Green” means to pursue knowledge and practices that can lead to more environmentally friendly and ecologically responsible decisions and lifestyles, which can help protect the environment and sustain its natural resources for current and future generations” (Going Green 2015). Today, people have developed electric cars, solar powered electronics and panels, fabric grocery bags, and other items, all in an attempt to discontinue using the harmful alternatives people have been using over the years that has led to the weak environmental state. The fact is that humans are a force of nature and no matter how environmentally safe a product is presented as being, there will always be drawbacks and therefore “Going Green” will always be just as harmful as it is helpful and will not be practical for most working Americans.

As the world transits from the linear economy which is no longer sustainable in view of the limitations posed by the cost implications of acquiring untapped resources, declining quantity of resources or the environmental challenges it poses, to the circular economy, opportunities will be created for building the resource resilience of communities in the UK (Green Alliance, 2013). Likewise, there is a growing price volatility associated with obtaining raw materials to support industrial production, hence the rising product costs and its attendant increases in the cost of living

The spotlight on business models permits for an improved understanding on how ecological importance is incarcerated, turned into gainful products as well as services, along with distributes expediency and contentment to users. In actual terms, the psychoanalysis of environmental innovation cases can hut illumination on whether, and also to what level and how ecological importance’s are reproduced in firm’s value plans, purchaser segmentation, make use of many type of resources, relationship patterns as well as the supervision of cost and proceeds streams. Through replacing old industry practices, original business models too permit firms to redistribute their importance chain as well as produce new kinds of producer-purchaser relationships, as well as change the consumption society along with use follows. The business model viewpoint is therefore mainly relevant to essential and universal eco-innovation, counting how business models as well as plan can bring and assist diffuse essential eco-innovation as well as allow systemic alters and alteration. Additionally, it is significant to understand improved how rule can influence as well as make easy the

We can state that in "Circular economy" utilizing old merchandise and utilizing crude material which is as waste, and it can be replicated and reused by reusing the item by utilizing the imaginative thoughts remembering that it doesn't influence the earth. This will help everyone to spare cash and it will give steady employment to individuals to work more in up and coming future. As we probably are aware we are in the new time of the business world as individuals are presently moving from paper cash to plastic cash and it is the change time frame for the world economy. Along these lines, same applies to our items as they require some change on the grounds that the entire world is moving towards the cutting-edge world. “Looking beyond the current [take, make and dispose] extractive industrial model, the circular economy is restorative and regenerative by design”. (1.macarthur, 2017) The circular economy can be explained as using raw materials, recycle it and use new technologies to make more efficient so that our product can be sustained for long period of time. While we are performing these task, we can generate more jobs and we require more employees as we are in producing phase, so we need more and more employees to perform the job. This sector works perfectly because we are recycling the waste and reproducing it by using different ideas, procedures and technologies to make our product perfect. (1.macarthur, 2017)