IT’S TIME FOR CONSTRUCTION TO EMBRACE THE CIRCULAR ECONOMY
Six factors for success
Embracing a more circular business model presents a variety of opportunities for companies throughout construction. To realize these, the industry must consider the following six success factors.
Rethink the entire supply chain. Winning business models can only be conceived and implemented if all suppliers prioritize circularity over linear approaches.
Consider the entire project lifespan. Analyze material and energy flows across the full lifetime of a construction project and optimizes efficiency.
Create a collaborative ecosystem. Holistic transformation can only be achieved by collaborating across the supply chain. Investors, designers, and builders must create an ecosystem.
Embrace digital technology. Innovation and R&D are the most potent enablers for circular business models in construction.
Develop a business model planning process. A rigorous approach is vital to excelling in this field. Built the necessary capabilities and create an investment strategy that includes ‘make or buy’.
Expand and scale. Consider a market push to the most promising customers and scale newly acquired skills across an organization to leverage new business models.
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