GD700 – Innovations & Business Models for the Circular Economy

A circular economy is an economic system of closed loops in which raw materials, components and products lose their value as little as possible, renewable energy sources are used, and systems thinking is at the core. A circular economy is fundamentally different from a linear economy. To put it simply, in a linear economy we mine raw materials that we process into a product that is thrown away after use. In a circular economy, we close the cycles of all these raw materials. Closing these cycles requires much more than just recycling. It changes the way in which value is created and preserved, how production is made more sustainable and which business models are used. Innovation is at the heart of generating new business models. Innovation is everyone’s business and no matter what is your job position at the company, you are always expected to do better with less. The realisation of the circular economy requires a fundamental systemic change. This new system also requires new business models. In order to apply the various business models, companies need to gain insight into which business model suits the organisation and is promising for the chain. Design thinking has been recognized as a catalyst to move away from the linear economy approaches to the circular economy models. The objective of this course is to introduce students to design thinking to generate novel circular innovation business models. This elective course enhances students’ competence in the area of green management, building upon the concepts and principles introduced in the core course Green Transformation of Businesses and Organizations and in the elective course The Circular Economy & Sustainable Development. The acquired knowledge will enable students to contribute or lead the green transition at their workplace. Learning in this course will be reinforced by practical application opportunities via case studies and current policy reports.