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Feasibility of Life Cycle Costing for Circular Economy Business Models

   

Added on  2021-04-17

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Running head: RESEARCH PROPOSALAnalysis of the feasibility of life cycle costing for Circular economy Business models for SME’swithin the top sector, WaterName of the Student:Name of the University:Author note:
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1RESEARCH PROPOSALAnalysis of the feasibility of life cycle costing for Circular economy Business models forSME’s within the top sector, Water1.0Introduction Circular economy refers to the regenerative system in the economy, which minimizes theamount of waste, energy leakage, emission and usage of input resources by slowing, narrowingand closing the energy and the material loops (EEA, 2017). This is a sustainable economic modeland can be achieved through the long lasting and sustainable business designs, maintenancesystem, applying the strategy of repair-reuse-recycle and refurbishing (Makkink, 2016). Lifecycle costing is one type of economic analysis, which is used for selecting the alternative optionsaffecting the pending and the future cost of the business (Dhillon, 2013). It is a comparative costanalysis of the initial investment and least cost alternatives. For the SMEs in any sector, lifecycle costing helps in analyzing the profit opportunities. The water sector management ofBangladesh has integrated policies that aims to utilize the huge amount of resources for theagricultural and SME’s in the industrial sector. The purpose of this research paper is to evaluatethe feasibility of the life cycle costing for the circular economy business models for the SME’s ofBangladesh by using water resource management. 2.0 Problem statementBangladesh is an agricultural economy. Water sector management is extremely essentialin an agricultural economy as the agricultural production is heavily dependent on the water. Ifthe water supply is hampered, the GDP of the nation gets affected due a fall in agriculturalproduction (Loucks & Van Beek, 2017). The SMEs in the agricultural sector and in the othersectors are now adopting the circular business economy model to follow the sustainability
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2RESEARCH PROPOSALpractices by reducing the wastes (cuts-citee.org, 2015). The problem statement of this researchpaper focuses on the problems of the water resource management in applying life cycle costingin the application of circular economy business model. 3.0 Research aim and objectives The aim of the research paper is to evaluate various options of the water resource sectorin Bangladesh in applying the life cycle costing in the circular economy business model thatwould benefit the SMEs. The objectives of the research paper are:To evaluate various factors for life cycle costing in the water resource management sectorTo assess the role of the SMEs in the circular economy business model in BangladeshTo examine the scopes for water management to improve the agricultural and food sectorof Bangladesh to increase the production and export4.0 Research questions The research questions are: 1)What are the various factors for life cycle costing in the water resource management sector inBangladesh?2)What is the role of the SMEs in the circular economy business model in Bangladesh?3)What are the scopes for water management to improve the agricultural and food sector ofBangladesh to increase the production and export?
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