Embracing circular business models unlocks opportunities for companies to engage with customers, optimise resource utilisation and ensure a sustainable future
The circular economy is increasingly influencing marketing and sales strategies across industries, providing new opportunities for meaningful engagement with customers, employees and stakeholders. Companies can benefit by meeting the evolving needs of customers, fostering strong relationships and introducing innovative value propositions.
Additionally, adopting circular practices allows for optimised resource utilisation, cost savings and price stability throughout the supply chain. This approach also helps companies build a reputation for innovation, attract and retain employees, establish solid relationships with governments and regulators and meet the expectations of investors.
[This article is republished courtesy of INSEAD Knowledge, the portal to the latest business insights and views of The Business School of the World. Copyright INSEAD 2024]