In “Circular Products and Business Models: Opportunities for Entrepreneurs, Managers, and Investors”, George Serafeim and Shirley Lu at Harvard Business School share the opportunity of circular economy based on learnings from The Circular Revolution Catalyst hosted by George Serafeim, Vladimir Jacimovic, and Reynir Indahl in April 2023:
“Currently, our economies predominantly function in a linear manner, characterized by the extraction, production, consumption, and disposal of resources. Embracing the paradigm shift towards a circular economy presents a tremendous opportunity, potentially worth trillions of dollars. By definition, a circular economy seeks to maximize the utility of existing materials for extended periods, consequently reducing the need for producing new, virgin materials.
Given this significant opportunity for value creation, HBS Professor George Serafeim and HBS Executive Fellows Reynir Indahl and Vladimir Jacimovic organized an event at Harvard Business School, to bring together business leaders, entrepreneurs, and investors interested in building and scaling solutions for a circular economy. Below we summarize several key lessons that emerged from the two-day catalyst event at HBS.”