Stepping Towards the Circular Economy: Business Model Innovation

Business model innovation is the essential first step in going circular as a corporate entity. A business must review the core purpose of their operations, which includes redefining value and the way they create it. However, multiple barriers stand in the way of creating such a viable circular business case, such as that there is a lack of knowledge on what options are available to be realized. Hence, this article outlines the various circular alternates to existing business models that companies may innovate, as well as how the change towards these business models may be initiated.

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Stepping Towards the Circular Economy: The Government

The majority of our previous blog articles have pointed out the different ways that businesses can put their best foot forward and take actions towards building the circular economy, such as how they can collaborate with other companies to take advantage of industrial symbiosis or how they can use and reuse all the materials of their product. However, it’s not all up to the businesses to make the change. Governments should be the front-runners of such initiatives, as the actions businesses and individuals can take are either limited or liberated by the policies governments have in place. As they are the ones with the big say in how fast and how well we transition to a circular economy, here is a breakdown of the three major areas in which governments can push towards this goal. Continue reading “Stepping Towards the Circular Economy: The Government”