From the course: Circular Economy Business Strategies
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Circular business DNA
From the course: Circular Economy Business Strategies
Circular business DNA
- Getting circularity into the DNA of your organization means you will be ahead of the pack. Now, many CEOs are concerned about disruption from startups in their industry who are embracing this shift and know that customers want to buy from ethical and sustainable companies. So they're out there exploring ways of creating products that offer circular solutions. There are many benefits from being ahead of regulation, saving money on resources, offering high value to your customers and creating new revenue streams through subscriptions. A fascinating example of circularity being used is through a simple products like light globes. A big lighting company moved from selling light globes in a linear way to selling the service of lighting to their commercial clients. So instead of a sales receipt, they issue invoices and get continual sales revenue from the same products. They offer servicing, repair, upgrades, and management so…
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