Circular Economy Conceptualization, Fundamental Principles...

Faced with the evidence, that finite resources are being depleted; that we are using more than we can replace (D. Meadows et al. 1972); and that climate change is likely to worsen the situation for many people of the world (Stott et al. 2010), business models have to change toward a more sustainable way of living, manufacturing and consuming; moving away from neoclassical industrial approaches. This represent the need for a fundamental conceptual shift away from current ‘take-make-dispose’ system, which generate toxic, one-way, ‘cradle-to-grave’ material flows, moving toward a ‘cradle-to-cradle’ system that can be conceptualized and represented in the Circular Economy; integrating economic activity and environmental welfare in a sustainable way. Therefore, the aim of this paper is to concentrate on circular economy conceptualization, fundamental principles and design process. Exploring some of the strengths and weaknesses in its application in contemporary business practice, that assisted in proposing and identifying five business models that can contribute in realizing circular businesses using recent case studies. Showing that potential sustainable development contributions can be gained, but substantive revision aspects are recommended, due to the lack of concerns related to barriers and other factors discussed on the implementation. Conceptualizations of the Circular Economy â€Å"When one tugs at a single thing in nature, he finds it attached to the rest of the world.† ThisShow MoreRelatedManaging Non Profit Organisations7701 Words   |  31 Pagesnormative dimension that includes not only economic aspects but also the importance of values and politics; a strategic-developmental dimension that sees organisations as evolving systems encountering problems and opportunities that frequently involve fundamental dilemmas; and an operative dimension that deals with the everyday functioning of organisations. In a third part, the paper presents the basic contours of an analytic approach that tries to accommodate the distinct management challenges faced byRead MoreManagerial Accounting Research Paper11042 Words   |  45 Pages(TQM) business philosophy of satisfying the customer with quality goods and services, reducing waste and empowering workers and suppliers is a method to achieve those goals. 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