The Understanding Of The Three Concepts And Relate This To The Circular Economy Model

1020 words - 4 pages

Describe your understanding of the three concepts and relate this to the Circular Economy modelDue to the current economic climate, a greater emphasis is being placed on aspects of doing business that currently were unimportant and ignored by companies big and small. None more so than the scale of a business, its use of time and its product or service life efficiency and the companies resilience. These aspects are in the centre of the circular economy movement which has seen many multi-national companies as well as smaller indigenous businesses move towards a more sustainable business model. A greater emphasis is placed on survival of these companies. Circular economy has proved an effective way of doing business for these companies to be sustainable both in the market place and as part of the earth as a whole.The scale of a company is the difference between a small corner shop selling a home's necessities, and a supermarket chain such as Albert Hein. The size (scale) of the two businesses differ massively but they still provide the same services as each other. The size of Albert Heins business model, logistics operations and budget will also be hugely different to that of the corner shop. They will need many different departments focusing on different aspects of the business from an accounts department to a logistics department. It is with this cross sector involvement that the large scale businesses are at a disadvantage. It makes implementing the circular economy ideas harder with a each department having different activities, energy usage and views on sustainability. However with that said there is still changes that can be made to make the larger supermarket chains (and larger businesses in general) money through circular economy and sustainability. Understandably with larger businesses their energy costs will be one of their biggest costs in their budget. Cutting back, or installing a more energy efficient platform (eg. Solar energy) on a large scale can be difficult to implement but can benefit a large company greatly. The same can be said for the smaller scale businesses but a circular economy business model will prove to be much easier to implement. While a larger scale business provides the company with more protection during tougher economic times, the implementation of an effective sustainable business model can help the smaller businesses survive.Time has become a focus for many businesses in recent years. The time efficiency of how the company provides its product or service is scrutinised by both the business and the customer. However, this need for a product to be provided quickly or a service to be completed on time does not mean that the companies view on the circular economy needs to be ignored. If anything the use of a circular economy business model can save a company time. The use of a structured productivity time table can save time, money and energy for any company. For example insuring that a machine that must be left...

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