Assignment 2 Job Creation And The Circular Economy

Job Creation and the Circular EconomyUniversity’s NameSubmitted by Names:Tutor:Date:Job Creation and the Circular Economy Theoretical perspective (Part 1)Concept of Circular EconomyEconomic resources are scarce, and with time they become depleted. There is, therefore, a compelling need to increases the usefulness of resources before disposing of them. The traditional economy is inefficient because it is based on the make, use, and dispose of a product where the product has a short life cycle. The system came into existence before corporate social responsibility became a major concept in business. Circular is an alternative industrial system aimed at minimizing waste and the negative impact of the waste to the environment by extending the useful life of the product (Andersen, 2007). The manufacturer designs how the product’s life will be extended and finally how the waste can be reused to produce a useful product. A circular economy has five sectors; the design and manufacturing, retailers, households, reuse and repair, and the recycling industry. Companies that adopt the circular economy concept begin with acknowledging the impact of their activities on the