circular business models

Circular business models focus on sustainability by rethinking how products are created, used, and disposed of. Instead of the traditional "take-make-dispose" approach, these models promote reusing, recycling, and refurbishing materials. This minimizes waste and reduces the consumption of new resources. For example, a company might sell a product with a take-back program, allowing customers to return it for refurbishment. This not only benefits the environment but can also enhance brand loyalty and reduce costs. Overall, circular business models aim to create a closed-loop system where materials are kept in use as long as possible.