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2022/2023 KAN-CCMVV2416U Circular Economy – Business models for the 21st Century
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| Circular Economy – Business models for the 21st Century |
Course information |
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| Language | English |
| Course ECTS | 7.5 ECTS |
| Type | Elective |
| Level | Full Degree Master |
| Duration | One Quarter |
| Start time of the course | First Quarter |
| Timetable | Course schedule will be posted at calendar.cbs.dk |
| Max. participants | 80 |
| Study board |
Study Board for MSc in Economics and Business
Administration
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| Last updated on 11-02-2022 | |
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| Learning objectives | ||||||||||||||||||||||||||
The objective is to provide the students with an
opportunity to obtain insights in circular economy principles based
on business models, concepts, theories, cases and guest lectures by
practitioners providing hands-on experiences from their circular
economy businesses. Further, the learning objectives of the course
are to enable students to manage competently in a context of
multiple stakeholder collaboration, design strategies, innovation
possibilities and relation to market dynamics when implementing
circular economy principles. The student should be able to reflect
academically on topics, processes and work in a cross-disciplinary
context. To be awarded with the highest grade (12), the student
should with no or only minor insignificant shortcomings fulfil the
following objectives:
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| Course content, structure and pedagogical approach | ||||||||||||||||||||||||||
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The objective of the course is to give the student a deeper understanding of the competitive possibilities of circular economy businesses. Further to illuminate, the innovative and entrepreneurial business opportunities, by development and marketing of circular product, service and process designs as a competitive strategy compared to the linear take-make-use-waste approach. More precise do we in Circular economy – business model for the 21st Century focus on how to apply circular economy principles in businesses.
The rise of the global consuming class creates pressure on the finite resources challenging a global sustainable production and consumption regime. On average do the current production and consumption patterns cause Earth Overshoot Day earlier and earlier each year. Current production and consumption patterns lead to increasing depletion of natural capital, massive biodiversity loss and climate change through use of fossil fuel energy and exponential exploitation of raw material resources. Researchers have for the last five decades tried to address the challenges of overshooting the ecological ceiling and shortfalls of the social foundation. Yet the challenges is just recently acknowledged, as market failures of the neo-classical growth economy, which lack inclusion of impact from fossil fuel energy input and use of natural capital as input resource to production and consumption in the economic system. Utilising circular economy principles relieves this pressure on the natural capital and as argued by the EU Commission provides businesses with competitive advantages in the future. The Commission envision a future where companies apply circular business models to engage in a different approach to how resources are sourced for production and consumption.
In short is the circular economy an economic system that is; regenerative and restorative by design, powered by renewable energy, minimizes leakages to incineration and landfills, keeps the resources at highest possible value at all times, demands cross-sectoral collaboration, have a higher complexity than linear business models and supply chains. Thus, constituting a potential to decouple monetary economic growth, from growth in virgin resource extraction and climate change challenges.
Key topics for circular economy – business models for the 21st century:
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| Description of the teaching methods | ||||||||||||||||||||||||||
| The teaching is based on students prepare for
class by reading the curriculum papers for the lectures and the
literature will then be processed in class by the lecturer, in
company with the students. At the start of the course will the
students create groups for exams and during the semester will the
students present their exam case to get working feedback.
The case choice should be relevant in relation to understanding application of circular economy principles and the syllabus. The aim for the presentations is to clarify topics and arears of challenges related to the exam project. As it is a quarter semester course will the lecturers be compressed and the pace of the course high. This creates an opportunity to have a very focused progress, but does also demand the student to have a high level of work to be well prepared for the lecturers. During the course it is the plan to have visits from high level managers from corporate life, to give the students insights into how managing product development and innovation processes is undertaken in real life. |
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| Feedback during the teaching period | ||||||||||||||||||||||||||
| Feedback is provided during the course at class
in general. Meaning that all questions will be taken seriously and
answered properly.
Group feedback, which is the main feedback event, will take place as a midt term evaluation and be given as part of the student groups presentation of chosen exam cases. The groups will present what they perceive is a fine case for exams and the related theories that are envisioned to apply in order to understand the problem at stake. The teacher will on this background provide feedback on choice of case and the related proposed theories, in order to either adjust the approach or approve to work on. |
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| Further Information | ||||||||||||||||||||||||||
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This course is part of the minor in Circular Economy, but students can choose this course independently |
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| Expected literature | ||||||||||||||||||||||||||
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General course literature: (books) Stuchtey, M.R., Enkvist, P-A. and Zumwinkel, K. (2016). A Good Disruption – Redefining Growth in the Twenty-First Century, Bloomsbury Publishing Plc.
Webster, K. (2017). The circular economy – A wealth of flows, Ellen MacArthur Foundation Publishing, 2nd Edition.
Tentative curriculum for the course:
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Last updated on
11-02-2022