The circular business model that strives to reduce idle assets within a community by maximizing their usage through short-term rental agreements.

• Product service system model

• Circular supply model

• Sharing model

• Resource recovery models

This circular business model focuses on recycling, which involves the retrieval of raw and composite materials from products that have reached the end of their useful life.

• Product service system model

• Circular supply model

• Sharing model

• Resource recovery models

The circular business model that plans for the recycling and reuse of a product, or its component parts, when it reaches the end of its useful life, with all of the components turned into new products.

• Product service system model

• Circular supply model

• Sharing model

• Product life extension model

This circular business model involves the production of products designed for long-term use, incorporating features such as repairability, upgradability, reconditioning, and ease of disassembly.

• Product life extension model

• Circular supply model

• Sharing model

• Closed loop model

This circular business model offers the function of the product (product as a service), without transferring ownership of the asset itself to the user (customer).

• Product life extension model

• Product service system model

• Sharing model

• Product life extension model

Key term:

These business models focus on costs, revenues, and profits related to business activities, often with a short-term outlook.

• B2B Business Models

• Franchise Business Models

• C2C Business Models

• Traditional/linear Models

True or False?

• Sharing models rely on the use of repairing, reconditioning, and refurbishing products to prolong their use.

• True

• False

Answer explanation

Product life extension models use methods such as repairing, reconditioning, and refurbishing products.

True or False?

Product service system models focus on reusing, recycling, or repurposing resources.

• True

• False

Answer explanation

Circular supply models focus on reusing, recycling, or repurposing resources.

True or False?

The ultimate goals of circular business models are to ensure that an economy's scarce resources are used more efficiently and to minimize waste.

• True

• False

Answer explanation

All circular business models are based on using and reusing resources more efficiently, thereby helping to minimize waste.

Which concept relates to Circular Business Models (CBM)?

• Change

• Ethics

• Creativity

• Sustainability

Answer explanation

Obvious answer