Feasibility of Life Cycle Costing for Circular Economy Business Models for SMEs in Water Sector Management of Bangladesh

Running head: RESEARCH PROPOSAL
Analysis of the feasibility of life cycle costing for Circular economy Business models for SME’s
within the top sector, Water
Name of the Student:
Name of the University:
Author note:

1
RESEARCH PROPOSAL
1.0 Introduction
Circular economy refers to the regenerative system in the economy, which minimizes the
amount of waste, energy leakage, emission and usage of input resources by slowing, narrowing
and closing the energy and the material loops (EEA, 2017). This is a sustainable economic model
and can be achieved through the long lasting and sustainable business designs, maintenance
system, applying the strategy of repair-reuse-recycle and refurbishing (Makkink, 2016). Life
cycle costing is one type of economic analysis, which is used for selecting the alternative options
affecting the pending and the future cost of the business (Dhillon, 2013). It is a comparative cost
analysis of the initial investment and least cost alternatives. For the SMEs in any sector, life
cycle costing helps in analyzing the profit opportunities. The water sector management of
Bangladesh has integrated policies that aims to utilize the huge amount of resources for the
agricultural and SME’s in the industrial sector. The aim of this research is to evaluate the
feasibility of the life cycle costing for the circular economy business models for the SME’s of
Bangladesh by using water resource management.
2.0 Problem statement
Bangladesh is an agricultural economy. Water sector management is extremely essential
in an agricultural economy as the agricultural production is heavily dependent on the water. The
role of SMEs in GDP is that it helps in eradication of poverty and creating employment hence
increasing the GDP of a country.The problem statement of this research focuses on the problems
of the water resource management in applying life cycle costing in the application of circular
economy business model.

2
RESEARCH PROPOSAL
3.0 Literature review
The purpose of the literature review is to put forward the findings from the academic articles by
other scholars that would make the readers acquainted with the research topic (Bryman & Bell,
2015). The literature review will be done in alignment with the objectives of the research and
will be presented in a thematic structure. The researcher will try to evaluate the impact of life
cycle costing for the business of the SMEs in Bangladesh and the role of the water management
sector in implementing circular economy business model through this research study. To pursue
the study, firstly, the researcher has to conduct a wide-ranging literature review. This is essential
to obtain knowledge about different elements of the research.
4.0 Research aim and objectives
The purpose of this research is to assess options of the water resource sector in
Bangladesh in applying the life cycle costing in the circular economy business model that would
benefit the SMEs.
The objectives of the research paper is:
 To evaluate various factors for life cycle costing in the water resource management sector