Step Seven – Circular Business
In this chapter of The Nine Steps Towards a Circular Business, four key areas are covered:
(1) The Sharing Economy: some people call it the Access Economy, so what does it mean and, more importantly, how can you optimize under-utilized assets?
(2) Channel Partners: growing your circular business will require distribution via your channels partners.
(3) Skills for the Circular Economy: What kind of skills training will staff require in a circular company?
(4) The 9R’s Industry: In the 9R’s there are several areas of business growth, such as Reuse, Repair, Refurbish, Remanufacture, Repurpose, Recyclable Resource Recovery, and Recovery (parts recovery). These circular activities are the backbone of the circular economy (see the Butterfly diagram) and provide a growing range of business opportunities. Manufacturers and distributors should be aware that, in some cases, it is closely connected to the design of a product otherwise the full value potential cannot be extracted.
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