The Principle of Rethink in Circular Economy: Redefining Business Solutions

Maud H. Schmiedeknecht ()
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Maud H. Schmiedeknecht: Reutlingen University

A chapter in Circular Economy in Sustainable Supply Chains, 2024, pp 61-68 from Springer

Abstract: Abstract The rethink principle emphasises the importance of creating a continuous cycle and the necessity of circular economy-oriented innovations. It is interconnected to other R-principles, especially refuse and reduce. In this microchapter, the question of how companies can rethink their products/services, business models and ecosystems through sustainability-oriented and circular economy-oriented business model innovation (BMI) is addressed. A card-based tool as a method to explore the circularity potential is introduced. Then, sufficiency-based approaches are outlined, as sufficient consumption patterns rely on business offerings that enable changes—to rethink business in an advanced way. The example of the outdoor apparel and gear company VAUDE illustrates sustainability strategies based on sufficiency.

Keywords: Rethink; Circular economy; Circular economy principles; Circular economy-oriented business model innovation; Card-based tools; Rethinking consumption patterns; Sufficiency; Sustainability-oriented business model innovation; VAUDE (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-031-70749-0_5

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DOI: 10.1007/978-3-031-70749-0_5

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