Business world can largely benefit from circular economy for apparent reasons: waste reduction, production efficiency, innovation, and among others. It is, for sure, that a closed-loop ecosystem within which every stakeholders like the society, the company, the consumers and etc. can all feel and touch each inch of changes brought about by the new business model.
Here are 4 key messages which might promote the innovation and enlarge benefits for business world:
- From PRODUCTS to SERVICES. Traditional product manufacturers who sell tangible products can try to seek out ways to sell their SERVICES, which might surprise the market and win in a fresh “blue ocean”.
- From OWNERSHIP TO SHARING ECONOMY. Physical products or services can be taken in another way, i.e. the products under my disposition are mine, but I would not mind share the product or service with you and you are willing to share the cost with me meanwhile. A win-win situation. A well-known innovative business model speaks for itself–the car haling and sharing leaders represented by Uber, Blablacar, Airbnb etc.
- Value Chain idea. Manufacturers partner with upstream suppliers and motivate downstream clients and consumers to work together aiming for recycling waste. In this ecosystem, the wastes are no more useless troubles but can be transformed into “raw materials” for other manufacturing stages.
- Finance circular economy. Real economy out of the support of financial services cannot go further. Financial services innovations to better serve the new demands in circular economic models are highly valued and are of great business opportunities.