Circular Business Models Flashcards
1
Q
Circular Business Models
A
An approach to business designed to minimize the consumption of unrenewable resources and reduce waste.
2
Q
What are the 3 characteristics in mind when a designing a product in a circular business model? What effect does this have?
A
durability, reparability, recyclability
This promotes the use of renewable resources, reduces dependence on finite resources and minimizes a businesses environmental impact
3
Q
3 pros of circular business models
A
- Reduced waste generation
- Decreased reliance on finite natural resources
- Increased CSR and brand reputation
