flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

The 21st Century Corporate Social Responsibility (CSR): The Shift to Circular Economy

The global economy is currently producing nearly 300 million tons of plastic every year, Half of these is for single use. With the population growing at a fast rate, we are requiring more resources than ever before. Yet, our finite resources are diminishing

Our economy has been built on the concept of a Linear Economy. This is Extract, Manufacture, Distribute, Use, and Dispose of. However, over the past few decades, we have transitioned to a disposable society as we generate waste at an unmanageable rate.

Today’s Business Transformation calls for a shift to a Reuse Economy or the Circular Economy.  Moving towards a more Circular Economic activity could deliver benefits such as reducing pressure on the environment, improving the security of the supply of raw materials, increasing competitiveness, stimulating innovation, and others. Moving into a Circular Economy also means that companies are considering sustainable approaches to balance out opportunities for business and the preservation of the environment.

The Shift to a Circular Economy

The Circular Economy is an economic system aimed at eliminating waste and the continual use of resources. It employs recycling, reuse, remanufacturing, and refurbishing to create a close system. With Circular Economy, it minimizes the use of resource input and the creation of waste.

A Circular Economy has a great impact on sustainability. It maximizes the conservation of resources and the reduction of environmental pollution.

In a Circular Economy, industries can increase profitability while reducing dependence on natural resources.  Thus, organizations can use concepts in Circular Economy as a powerful tool to push forward Corporate Social Responsibility initiatives.

Discovering the 6 Core Activities of a Circular Economy

The 6 Core Activities of a Circular Economy are stepping stones towards increasing productivity, cost savings, and generating greater economic benefits.

A Purview of Circular Economy in Action

Taking the 6-step journey to achieve greater sustainability can lead organizations to draw on the power of the Circular Economy to achieve greater value. Let us take a purview of a Circular Economy in action: The Waste Management Case Study

The Waste Management Case evolves in a scenario where the economic growth in emerging markets has raised living standards resulting in massive waste. As such, municipalities in these markets are spending up to half of the budget on solid waste management.

As a result of economic growth, there is massive consumer and industrial waste generated. In fact, metals extracted from tires in open backyard fires can cause great harm to human health and the environment.

We are in this dilemma right now. With the application of the Circular Economy, we can better address these problems by creating infrastructures to organize and manage waste supply chains. This can include Digital Transformation.

What is the underlying Circular Economy Principle? It is aggregation. With this principle, we can aggregate volumes substantial enough to justify the business investment. We can enable companies to build the business from waste.

Interested in gaining more understanding of driving Corporate Social Responsibility in the context of the Circular Economy? You can learn more and download an editable PowerPoint about Corporate Social Responsibility: Circular Economy here on the Flevy documents marketplace.

Are you a management consultant?

You can download this and hundreds of other consulting frameworks and consulting training guides from the FlevyPro library.

About Joseph Robinson

Joseph Robinson is the Vice President of Strategy at Flevy. Flevy is the marketplace for best practices in business management. Learn how the Fortune 100 and global consulting firms do it. Improve the growth and efficiency of your organization by leveraging Flevy's library of best practice methodologies and templates. The documents at Flevy (https://flevy.com) are of the same caliber as those produced by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Most were developed by seasoned executives and consultants with 20+ years of experience. Flevy covers 200+ management topics, ranging from Digital Transformation to Growth Strategy to Lean Management. You can peruse a full list of management topics available on Flevy here. Prior to Flevy, Joseph worked as an Associate at BCG and holds an MBA from the Sloan School of Management at MIT. You can connect with Joseph on LinkedIn here.

, , , , ,



Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]   This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]
We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]   We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  


The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.


Connect with Flevy:

   
  


About Flevy.com   /   Terms   /   Privacy Policy
© 2021. Flevy LLC. All Rights Reserved.