Circular economy business model

Staff Writer/ December 30, 2020/ Data Center Hardware Terminology, Tech Definitions, Tekmart Enterprise Hardware Tips

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By Tekmart Support Team

Circular economy business models keep products and materials in use, by design, for as long as possible to get the maximum value from them. A circular economy approach ensures that materials are retained within productive use, in a high value state, for as long as possible.

This is how a company creates, captures, and delivers value with the value creation logic designed to improve resource efficiency through contributing to extending useful life of products and parts (e.g., through long-life design, repair and remanufacturing) and closing material loops.

In short, it  is a systemic approach to economic development designed to benefit businesses, society, and the environment. In contrast to the ‘take-make-waste’ linear model, a circular economy is regenerative by design and aims to gradually decouple growth from the consumption of finite resources.