Managing for Sustainability: Assessment
Imagine you are a senior consultant managing a newly formed business unit in one of the top Australian consulting firms. The task for the new unit is to provide strategic advice for companies interested in implementing circular economy practices.
It is early days for Australian companies for circular economy thinking, but you know there has been considerable uptake of circular economy principles in Europe and China, and you have been inspired by the work of the Ellen McArthur foundation in developing the CE 100 group.
As your first task in the newly formed unit, one of the managing directors has requested that you prepare a short report that explains the key benefits of the circular economy and the potential such a model may offer for Australian companies. This is an internal report that will be presented to the board of managing directors so they may understand the how the circular economy can provide new opportunities for their clients.
In particular the managing director has requested you addresses: How might adoption of Circular Economy practices provide competitive advantage for a company? Selecting a specific sector (for eg. manufacturing, retail, hospitality... etc.) briefly synthesise how leading companies have incorporated and benefited from adoption of circular economy practices. From this synthesis, outline and explain specific recommendations that could be offered to other companies to leverage such best practice.