Implementation of circular economy models in an engineering start-up
In the linear economy, resources are extracted, used, and thrown away. Existing companies, as well as start-ups, have a responsibility in finding and creating solutions in order to continue to flourish and ensure a good future for generations to come.
Lisa Michenet, 2022
Bachelor Thesis, ENGA GmBh
Betreuende Dozierende: Pavlina Pavlova
Keywords: Circular Economy, Circular Strategies, Business Model Canvas
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So that society can continue to thrive, businesses need to change and take responsibility regarding the use of resources. The circular economy, where waste is already eliminated in the design phase, is one approach that can help address these challenges. This bachelor thesis aims to incorporate circular strategies into the business model of ENGA GmbH, a newly established engineering start-up in Biel, Switzerland.
A workshop was conducted in the scope of this thesis to share knowledge about the circular economy and introduce the concept of circular strategies. In the second step, the strategies were mapped on the business model canvas to ensure their implementation in the core of the company. In addition to the workshop, desk research on the circular economy and the development of start-ups was conducted to further be able to create recommendations on how to incorporate circularity into their business model.
The findings of this work were transformed into recommendations for ENGA. The main findings from the desk research highlight the importance of testing one’s business assumptions in the form of minimum viable products (MVP). Therefore, it is crucial to involve customers at an early stage to ensure that failure occurs quickly and at a low cost. Additionally, the literature concerning circular economy highlights the importance of creating and engaging in an ecosystem. As one company alone cannot function within the circular economy, it is vital to create an ecosystem in which several circular organisations can align their business models to ensure circular flows. In addition, the workshop enabled the start-up to write down their ideas comprehensively and structurally and gave them a more precise action plan. To conclude, this thesis resulted in recommendations on how to ensure the creation of products and services that meets customers’ needs and how the start-up can map their ecosystem. Moreover, tools are given on how ENGA GmbH can ensure constant circular creation and how to apply circular thinking to their business model.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: