WHAT GOES AROUND COMES AROUND

Walter R. Stahel’s words, “the goods of today are the resources of tomorrow at yesterday’s resource prices,” are contextually relevant for the present time.

Integrating sustainability and business demand radical innovations. It is prudent to stop waste from being created. Businesses must use upstream innovations to trace the problems back to their roots. New business models are implemented to unlock value from waste. The key factor in creating a circular model is to choose a roadmap that aligns with a company’s capabilities. Businesses must identify which model is economically sustainable.

Circular ecosystems require leaner, collaborative, and agile innovations. Leaders will have to identify early adopter categories, verify solutions, and scale them. Increased capability in managing changes is the focal area of work. Creating restorative and regenerative design begins with ideation. Starting the transition from within the organisation, it is pivotal to understand barriers related to value chain structures, and technology. It is crucial to consider all aspects of business, from sourcing raw materials to engaging employees in circularity.

Paperless campaign prevalent in many organisations is the first step toward circular innovations. Businesses must do much more to internalise the circular practices of recycling and reusing.

The circular economy requires structural changes that reform organisational culture. Fostering a dynamic working environment, employees are encouraged to challenge core assumptions. Companies must formulate comprehensive policies to implement circular initiatives within the workplace. Management should take proactive steps to set goals and incentivise circularity.

Innovation challenges entrepreneurs to think beyond the conventional framework of business. With a circular mindset, leaders can uncover new opportunities to create responsible companies. It is time to rev up the bottom-up innovation movement to reinvent every linear system. As Thomas Edison once said, “there’s a way to do it better. Find it.”