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refers to a period of the year when there is a reduced amount of rainfall or moisture in a particular region. AI can be used in various ways to address challenges and opportunities associated with the dry season. Here are some potential AI solutions: Agr

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Course
TECHNOLOGY 2021

Institution
Alexandria State University

refers to a period of the year when there is a reduced amount of rainfall or moisture in a particular region. AI can be used in various ways to address challenges and opportunities associated with the dry season. Here are some potential AI solutions: Agriculture and Irrigation: AI can be used to...

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Uploaded on September 15, 2023
Number of pages 21
Written in 2023/2024
Type Class notes
Professor(s) Dave
Contains All classes

refers period of the year when there is a red

Institution
Alexandria State University
TECHNOLOGY 2021

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1

Final Project

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Assignment Due Date

, 2

Final Project

Organizations are at a crossroads at a time of increasing environmental problems and a

compelling demand for sustainable business practices. The needs of a changing world are

becoming more incompatible with the conventional linear model of production and consumption,

which is defined by resource depletion and waste creation. The implementation of circular

economy projects presents a chance for change within these difficulties. The journey that started

with examining circular economy principles in Module 1 and the in-depth comprehension of

their social, economic, and environmental repercussions in Module 2 has culminated in this final

project. We focused on the practical applications of circularity in Module 3, developing Key

Performance Indicators (KPIs), projecting effects, and developing a framework for assessing the

efficacy of circular activities. In this project, we play the parts of advisors, researchers, and

forward-thinking entrepreneurs as we tackle a crucial issue in the current business scene. Our

goal is to lead businesses toward a sustainable future by outlining a detailed strategy for

implementing the fundamentals of the circular economy. This strategy integrates ethical

guidelines, best practices, and critical analysis, demonstrating a thorough comprehension of

circularity's intricate relationships and complexity. As we embark on this journey, we welcome

you to join us in imagining a future in which enterprises succeed through the economy, society,

and environment, proving that circularity is more than just a business strategy.

Product

In the context of our capstone project, the word "product" encompasses a broader range

of services businesses give their clients besides actual commodities. This more inclusive

definition embraces both tangible goods and intangible services (Aloini et al.,2020). Adopting

the concepts of the circular economy significantly impacts how companies envision, create,

, 3

manufacture, and distribute these services. In the world of physical goods, circularity

necessitates a significant change in design methodology. Products must be made with durability,

repairability, and recycling in mind. Longer product lifespans are ensured through durability,

which lowers the replacement frequency (Aloini et al.,2020). A product's usefulness is increased

through repairability, which promotes simple maintenance and component replacement.

Recyclability makes it possible to recover valuable materials, reducing waste and the depletion

of resources. For instance, circularity-driven product design in the consumer electronics sector

may incorporate modular architecture that enables customers to change specific parts like

batteries or displays, prolonging the device's lifetime.

Producers could promise to include recycled materials in their goods, completing the

resource use circle. Adopting a circular economy reimagines the delivery strategy for services.

The sharing economy and product-as-a-service (PaaS) concepts have gained popularity. Thanks

to PaaS, customers may use services without owning the underlying assets, which changes the

emphasis from ownership to access (Aloini et al.,2020). Platforms for the sharing economy link

people and companies while optimizing resource use via cooperative consumption. Take the

transportation industry as an example. By reducing the number of privately owned automobiles,

ride-sharing programs help to decrease traffic and pollution. These programs encourage shared

use of resources, an excellent example of circular thinking.

Service

The idea of a "service" has significant relevance in circular economy efforts since it is

crucial to the transition towards sustainability and resource efficiency. Services are essential to

putting circular concepts into practice and include a broad range of intangible services, from

financial counselling to healthcare delivery (Aranda-Usón et al.,2019). The sharing economy and

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