G10 I&S Semester Exam

Linear Business Model (Traditional)

A business model that uses fresh resources to produce products, leading to a disposable society where consumers using products and throwing them away.

Circular Business Model

A business approach aimed at minimizing waste and maximizing the reuse, repair, and recycling of materials. It replaces the traditional linear model with sustainable practices to close the loop in resource use.

Circular Supply Model (part of Circular Business Model)

A supply chain approach that prioritizes the use of renewable, recyclable, or biodegradable materials in production. It ensures that resources are continuously cycled back into the economy.

Resource Recovery Model (part of Circular Business Model)

A system designed to capture and reuse waste materials, turning them into valuable resources or products. Examples include: recycling, composting, and energy recovery from waste.

Product Life Extension (part of Circular Business Model)

A strategy to increase the lifespan of products through maintenance, repair, refurbishment, and upgrades. Reducing waste and maximizing resource efficiency.

Sharing Model (part of Circular Business Model)

A business model based on shared access to goods and services rather than individual ownership. Examples include car-sharing services (e.g., Zipcar) or accommodation-sharing platforms (e.g., Airbnb)

Product Service System (PSS) (part of Circular Business Model)

A business model in which companies offer a combination of products and services to meet customers needs. For instance, instead of selling a product, the company provides access to the product along with associated services (e.g., leasing equipment with maintenance included).

Cradle to Grave

The process of examining lifespan of the product and the carbon footprint contribution. Manufacturing, Transportation, Product use, Disposal

Planned obsolescence

the produce are designed to be outdated

Opportunity Cost

The opportunity cost is the value of the next best alternative foregone when a decision is made. In business, it refers to the benefits a company or individual sacrifices by choosing one option over another in business decisions.