What are circular business models, and how can you use them to your advantage?
Circular business models can create more value for your business and a better experience for your customers. The idea is that you keep your products in use for as long as possible, either by giving them a longer life by either ensuring they have multiple users, or by hiring, leasing, and sharing.
Furniture retail giant IKEA has implemented a circular business model by launching a buy-back and re-sale scheme to reduce the number of products going to landfill. The company is offering customers vouchers to spend in-store in return for their unwanted furniture, creating value for the company whilst also reducing waste.
Adidas have also taken advantage of the circular economy by creating a rental service, allowing customers to borrow their products at a fraction of the price of purchasing them.
Together, with fellow Oxfordshire Greentech members QSA Partners, we’ll explore recent examples and take you through the first steps of implementing circular business models in your own business.
Date and time:
Wednesday 16 June
10:00 - 12:00
- Why are circular business models important?
- What is a circular business model? How they work & some examples
- How can my business create a circular business model? The steps and main factors in the process
- Practical exercise in getting started: Identifying new values