Describe your understanding of the three concepts and relate this to the Circular Economy model
Due to the current economic climate, a greater emphasis is being placed on aspects of doing business that currently were unimportant and ignored by companies big and small. None more so than the scale of a business, its use of time and its product or service life efficiency and the companies resilience. These aspects are in the centre of the circular economy movement which has seen many multi-national companies as well as smaller indigenous businesses move towards a more sustainable business model. A greater emphasis is placed on survival of these companies. Circular economy has proved an effective way of doing business for these companies to be sustainable both in the market place and as part of the earth as a whole.
The scale of a company is the difference between a small corner shop selling a home's necessities, and a supermarket chain such as Albert Hein.
The size (scale) of the two businesses differ massively but they still provide the same services as each other. The size of Albert Heins business model, logistics operations and budget will also be hugely different to that of the corner shop. They will need many different departments focusing on different aspects of the business from an accounts department to a logistics department. It is with this cross sector involvement that the large scale businesses are at a disadvantage. It makes implementing the circular economy ideas harder with a each department having different activities, energy usage and views on sustainability. However with that said there is still changes that can be made to make the larger supermarket chains (and larger businesses in general) money through circular economy and sustainability. Understandably with larger businesses their energy costs will be one...