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Circular Economy Use the links in the end to answer these question Q1 (Answer should be 1000 words) Imagine you are a senior consultant managing a newly formed business unit in one of the top...

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Circular Economy

Use the links in the end to answer these question

Q1 (Answer should be 1000 words)

Imagine you are a senior consultant managing a newly formed business unit in one of the top Australian consulting firms. The task for the new unit is to provide strategic advice for companies interested in implementing circular economy practices.
It is early days for Australian companies for circular economy thinking, but you aware that companies in Europe and China have broadly adopted circulareconomy principles, and you have been inspired by the endeavour of the EllenMcArthurfoundation in developing the CE 100 group.
As your first task in the newly formed unit, one of the managing directors has requested that you prepare a short report that provides a synthesis of the benefits of a circular economy model for Australian companies. This is an internal report that will be presented to the board of managing directors so they may understand the how the circular economy can provide new opportunities for their clients.
In particular, the managing director has requested you addresses: How might adoption of Circular Economy practices provide competitive advantage for a company?Selecting a specific sector (foreg. manufacturing, retail, hospitality... etc.) brieflysynthesisehow leading companies have incorporated and benefited from the adoption of circular economy practices. From this synthesis, outline and explainspecific recommendations that could be offered to Australian companies toleverage such best practice.

The answer should include direct reference from these following web links and you can use your own research references.

Q XXXXXXXXXXwords answer )

Select three of the foundation 'schools of thought' of the circular economy. Briefly explain how each school of thought has specifically influencedthe circular economy model ?

Q XXXXXXXXXXwords answer )

Recall the social and environmental dimensions of the phase model. Consider how businesses have been implementing circular practices. Do you think there is an adequate focus on both the environmental and human factors in the circular economy practices? If so please give examples of both. If not, justifyyour responseby illustrating how one is given predominance.

In which phase would you classify the circular economy and why?

Use these links

http://www.ellenmacarthurfoundation.org/circular-economy/circular-economy/interactive-system-diagram

https://www.ellenmacarthurfoundation.org/circular-economy/schools-of-thought/cradle2cradle

https://theconversation.com/explainer-what-is-the-circular-economy-23298

https://www.mckinsey.com/business-functions/sustainability-and-resource-productivity/our-insights/remaking-the-industrial-economy

http://www.weforum.org/projects/circular-economy

https://online.uts.edu.au/bbcswebdav/pid XXXXXXXXXXdt-content-rid-12684627_1/courses/ XXXXXXXXXXAUTUMN-CITY/Murray%20et%20al%20JBE.pdf

http://www3.weforum.org/docs/WEF_Project_Mainstream_Status_2015.pdf

https://www.ellenmacarthurfoundation.org/programmes/business/project-mainstream

https://www.tandfonline.com/doi/full/10.1080/ XXXXXXXXXX1172124

http://www.mckinsey.com/insights/sustainability/toward_a_circular_economy_philips_ceo_frans_van_houten

https://youtu.be/8wGzmkgnFQk

https://www.ellenmacarthurfoundation.org/case-studies/search?q=all

http://www.theguardian.com/sustainable-business/series/circular-economy

Answered Same Day May 18, 2020

Solution

Sundeep answered on May 21 2020
130 Votes
11
Circular Economy
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Table of contents
Introduction-------------------------------------------------------------------------------3
Building blocks of circular economy-------------------------------------------------5
Reverse Cycles ---------------------------------------------------------------------------6
School of Thought----------------------------------------------------------------------8
Conclusion-------------------------------------------------------------------------------10
Reference---------------------------------------------------------------------------------11
Introduction
What is a circular economy?
There is a traditional linear economy which consists of the idea of make – use – dispose. This is how the things worked until the last decade. Since last decade, a new type of economy came into existence. This is known as circular economy. It is an alternative to the Linear Economy and in this, the resources are kept for much longer and the maximum value is extracted from the resources while it is in use and then the regenerated products and materials at the end of the service cycle are recovered
The circular economy has many benefits which include:
· Waste Reduction
· Greater resource productivity
· More competitive environment is delivered
· Better position the organisation for better resource security, scarcity issues in the future
· It helps in reducing the environmental impact on the production and consumption of resources
Building blocks of circular economy
There are 4 building blocks of circular economy that have been identified by the industries
The 4 building blocks are:
Circular Economy Design:
Organisations need to build their design in a circular manner in order to utilise the benefits of circular economy and to facilitate the product reuse, recycling and cascading. Advanced skill sets, information sets and working methodologies are utilised in the circular design. There are multiple domains which are necessary to implement the circular design which would enable the organisation to function better. They are: Standardised components, material selection, designed to last product methods, separation and reuse of products and materials and design to manufacture criteria that takes into account the possible usage of the products and the wastages
New Business Model:
Innovative business models are required which would replace the existing issue and create the new opportunities. There are multiple organisations who have large market share and capital to perform the changes in the innovation model and these companies would drive the changes in the model by leveraging their scale and vertical integration. The
ands and the volumes can play a critical role even though major and different ideas would come from the entrepreneurs. The profitable innovation model would be copied and would drive the economy business models geographically.
Reverse Cycles:
Additional and new skills are required for the cascading and the final return of the materials to the mud and back into the production house of the industries. This includes multiple stakeholders of the organisation such as, warehousing, sorting teams, risk management, delivery logistics, polymer chemistry and microbiology with cost efficiency, better quality gathering and the effective subdivision of the end of the life products. The leaks of the materials out of the scheme would reduce which would support the...
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