Impact of criticality and average product lifetime assessments on circular economy
Petruchuk, Elizaveta (2021)
Pro gradu -tutkielma
2021
School of Business and Management, Kauppatieteet
Kaikki oikeudet pidätetään.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi-fe202103308857
https://urn.fi/URN:NBN:fi-fe202103308857
Tiivistelmä
A circular economy and sustainable development need to become implemented into societies and businesses. The concepts of the criticality of raw materials, the average lifetime of the product, and the practical application of the circular economy strategies are studied in this thesis.
The analysis was carried out by applying the hypothetical formula and evaluating two business cases, which were backed by the theoretical review. The first part of the study focuses on analyzing the correlation between the criticality index and the average product lifetime of critical metals. The second section of the research was the cross-case analysis and incorporation of the circular economy into the business strategies of VOLVO and BMW.
Results of the study have shown that criticality, average product-lifetime and circular economy principles can be seen as a complex of interconnected concepts, and be integrated into the corporate strategies and policies. In future studies, metal criticality can be examined in depth within particular metal categories. However, the discussion concludes that the criticality of raw materials is a versatile term and depends on the sample and scope of the assessment.
The analysis was carried out by applying the hypothetical formula and evaluating two business cases, which were backed by the theoretical review. The first part of the study focuses on analyzing the correlation between the criticality index and the average product lifetime of critical metals. The second section of the research was the cross-case analysis and incorporation of the circular economy into the business strategies of VOLVO and BMW.
Results of the study have shown that criticality, average product-lifetime and circular economy principles can be seen as a complex of interconnected concepts, and be integrated into the corporate strategies and policies. In future studies, metal criticality can be examined in depth within particular metal categories. However, the discussion concludes that the criticality of raw materials is a versatile term and depends on the sample and scope of the assessment.