What is Circular Economy?
The circular economy is a cyclic system that aims to eliminate waste by turning goods that are at the end of their life cycle into resources for new ones (Stahel, 2016)
By maximizing the efficient use of resources, this fundamental redesign of materials, products, and value creation systems should ultimately reduce the negative environmental effects of emissions and resource waste that naturally accompany the consumption of physical goods.(Rosa et al., 2019)
The circular economy is often facilitated by means of product-life extension, redistribution/reuse, remanufacturing, and recycling (Urbinati et al.,2017).
Our first company is Unilever. Unilever's efforts, goals,targets and circular economy business models while reaching these explained in the below video. Unilever uses reuse, refill models circular economy methods. Ellen Macarthur Foundation published a book about reuse,refill methods. I add the book's link at the video description.You can download free e-book for learning details and other applied examples.
Also Group Renault and Philips' circular economy business models examined in the video.
References of definitions and Illustration
Stahel, W. R. (2016). The circular economy. Nature, 531(7595), 435–438. https://doi.org/10.1038/531435a
Rosa, P., Sassanelli, C., & Terzi, S. (2019). Towards circular business models:A systematic literature review on classification frameworks and archetypes. Journal of Cleaner Production, 236, 117696. https://doi.org/10.1016/j.jclepro.2019.117696
Urbinati, A., Chiaroni, D., & Chiesa, V. (2017). Towards a new taxonomy of circular economy business models. Journal of Cleaner Production, 168, 487–498. https://doi.org/10.1016/j.jclepro.2017.09.047
Weetman, Catherine (2016). A circular economy handbook for business and supply chains : repair, remake, redesign, rethink. London, United Kingdom: Kogan Page. p. 25. ISBN978-0-74947675-5. OCLC967729002
