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Circular Economy Practice: Benefits and Case Studies for Deloitte Company

The assignment is about the benefits and principles of a circular economy and its impact on economic growth and resource consumption.

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Added on  2023-06-11

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This report explains the benefits and case studies of circular economy practice for Deloitte Company. It covers the origins and schools of thought behind circular economy, its benefits such as saving resources and enhancing productivity, and case studies of companies like Google, Coca Cola, and DLL Group that have adopted circular economy practices. The report also provides recommendations for Australian companies to adopt circular economy practices.

Circular Economy Practice: Benefits and Case Studies for Deloitte Company

The assignment is about the benefits and principles of a circular economy and its impact on economic growth and resource consumption.

   Added on 2023-06-11

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Circular Economy Practice 1
CIRCULAR ECONOMY PRACTICE
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Course
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Date
Circular Economy Practice: Benefits and Case Studies for Deloitte Company_1
Circular Economy Practice 2
Introduction
Circular economics a way has been on the rise in many companies especially those located in
Europe and China. It has promoted maximum utilization of resources within firms which have
promoted the growth of these companies and the rise of the general economy of the countries
from which these firms comes from (Mishkin 2007, p.26). Circular economics is essential for
growing firms and already established companies as it enhances productivity. The report is
written to explain why Deloitte Consultant Company should embrace circular economy.
Circular Economy Practice
Is a renewing system where resources resource inputs and energy leakage, emissions are
minimized by reduction of material loops and energy. It is enhanced by designing of systems
which are long lasting, maintenance of existing systems, reprocess of items and materials
produced and finally ensuring there is a maximum recycling of all individual material
components of a particular system.
Schools of thoughts to explain origin Circular Economy
The circular economy has a history of its origin cannot be traced to a single person on a
particular date. There are some schools of thought to explain this origin. Concentrating on three,
they include Cradle to Cradle, Natural Capitalism, and Performance economy.
Cradle and cradle
German chemist postulates that all materials involved in commercial and industrial
procedures are all nutrients. The philosophy says that products can be designed to be
continuously reutilized and this will enable reduction of negative by-products in the
environment.
Circular Economy Practice: Benefits and Case Studies for Deloitte Company_2
Circular Economy Practice 3
Natural Capitalism
The school of thought majors on the usage of natural assets in production. The products
and the by-products should be a natural resource. The natural resources include soil, air, water
and living organisms. The major point is shifting to biologically enhanced production and
reinvestment in natural capital.
Performance economy
Walter Stahel considers production as a closed loop. It majors on a product-life
extension, reconditioning of activities, long-lasting goods, and waste prevention. He argues out
that there should be a shift to selling services rather than goods which falls under functional
service economy.
Benefits of Circular Economy in Deloitte Company
Some of the benefits of Circular economy include saving of finances, increasing of value
of materials, development of new markets, building of loyalty with customers, satisfaction of
customer needs, enhancement of security, retaining of employees, building a brand and
promotion of the business name, enhancement of lower risks to investors and finally promotes
upholding of government policies and procedures (Willard 2012, p.67).
Circular economy helps save money and resources in all ways. Hundreds of million
dollars are saving yearly by companies that observe circular economy. Google Company asserts
the same thing that but the repurposing of hardware in data centers, it promotes the company
sustainability and a lot of finances are saved through this redirection of data components.
The value of materials produced under circular economy environment are of good quality
and sometimes better than those produced under the normal economy. Goods produced under
Circular Economy Practice: Benefits and Case Studies for Deloitte Company_3

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