The Business Benefits of the Circular Economy
Circular economy principles can generate both environmental impact and competitive advantage for businesses that choose to innovate the way they work. One of the key benefits that allows circularity to drive business growth is the emphasis on customer relationships, moving from a one-shot relationship to a full lifecycle, long-term engagement.
Schneider Electric CEO and Chairman, Jean-Pascal Tricoire, shares about how prioritizing the move to a circular economy business model has made the company more competitive in costs and value proposition. For Schneider Electric, a circular approach has driven many benefits, and has forced the company to think in new ways including:
- How we source materials
- How we design our products
- The way we engage with our supply chains
- How we approach innovation and sustainability
- The services we provide to our clients