Lecture 10: Circular Economy

Question 1

integrated thinking

Answer 1

holistic decision-making, optimising the whole performance of the organization. Both ecological and sociological.

Question 2

integrated control

Answer 2

steering system for integrating the strategy and completing a culture change / mindset change.

Question 3

integrated reporting

Answer 3

reporting on the three P’s: people, planet and profit. Now its is more about human capital, social capital and social relations.

Question 4

integrated thinking full definition

Answer 4

Integrated thinking is the active consideration by an organization of the relationships between its various operating and functional units and the capitals that the organization uses or affects.

Question 5

string model

Answer 5

mono-capital model. business and shareholders.

Question 6

spring model

Answer 6

multi-capital model. also focus on society and environment

Question 7

how do you go from string to spring model: management model:

Answer 7

maximizing profit to optimizing value

Question 8

how do yo go from string to spring model: capital focus

Answer 8

financial capital to multi-capital

Question 9

how to go from string to spring model: timing considered

Answer 9

short term to short and long term

Question 10

how to go from string to spring model: company behaviour

Answer 10

reactive to pro-active

Question 11

several kinds of capital

Answer 11

1. financial capital
2. manufactered capital
3. intellectual capital
4. human capital
5. social and relationship capital
6. natural capital

Question 12

financial capital

Answer 12

pool of funds that is available to an organisation for use in production of goods or the provision of services

Question 13

manufactered capital

Answer 13

manufactered physical objects

Question 14

intellectual capital

Answer 14

organisational, knowledge-based intangibles

Question 15

human capital

Answer 15

people’s competenties, capabilities and experience, and their motivations to innovate

Question 16

social & relationship capital

Answer 16

relationship and institutions in networks of stakeholders, communities and other networks

Question 17

natural capital

Answer 17

all renewable and non-renewable environmental resources and processes that provide goods or services that support the past, current or future prosperity of an organisation

Question 18

outline of a circular economy:

Answer 18

principle 1: preserve / enhance natural capital

principle 2: optimise resource yields

principle 3: foster system effectiveness

Question 19

smarter product use and manufacture

Answer 19

refuse

rethink

reduce

Question 20

extend lifespan of product and its parts

Answer 20

reuse

repair

refurbish

remanufacture

repurpose

Question 21

useful application of materials

Answer 21

recycle

recovery

Question 22

refuse

Answer 22

make product redundant by abandoning its function or by offering the same fucntion with a radically different product

Question 23

rethink

Answer 23

make product use more intensive

Question 24

reduce

Answer 24

increase efficiency in product manufacture or use by consuming fewer natural resources

Question 25

reuse

Answer 25

re-use by another consumer or discarded product

Question 26

repair

Answer 26

repair so it can be used with original function

Question 27

refurbish

Answer 27

bring old product up to date

Question 28

remanufacture

Answer 28

use parts of old product in a new product with the same function

Question 29

repurpose

Answer 29

use old product or its part in a new product with different function

Question 30

recycle

Answer 30

process materials to obtain the same or lower quality

Question 31

recovery

Answer 31

incineration of material with energy recovery

Question 32

preserve / enhance natural capital through:

Answer 32

controlling stocks / balancing resource flows

Question 33

optimise resource yields through:

Answer 33

circulating products / components and materials

Question 34

foster system effectiveness through:

Answer 34

revealing or designing out negative externalities