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The Principle of Rethink in Circular Economy: Redefining Business Solutions

Author

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  • Maud H. Schmiedeknecht

    (Reutlingen University)

Abstract

The rethink principle emphasises the importance of creating a continuous cycle and the necessity of circular economy-oriented innovations. It is interconnected to other R-principles, especially refuse and reduce. In this microchapter, the question of how companies can rethink their products/services, business models and ecosystems through sustainability-oriented and circular economy-oriented business model innovation (BMI) is addressed. A card-based tool as a method to explore the circularity potential is introduced. Then, sufficiency-based approaches are outlined, as sufficient consumption patterns rely on business offerings that enable changes—to rethink business in an advanced way. The example of the outdoor apparel and gear company VAUDE illustrates sustainability strategies based on sufficiency.

Suggested Citation

  • Maud H. Schmiedeknecht, 2024. "The Principle of Rethink in Circular Economy: Redefining Business Solutions," CSR, Sustainability, Ethics & Governance,, Springer.
    • Handle: RePEc:spr:csrchp:978-3-031-70749-0_5
    DOI: 10.1007/978-3-031-70749-0_5
    as

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