Assignment 2 - Group Assignment Sample

1. Introduction: Advancing Circular Economy: International Frameworks And Australian State-level Innovations

This study paper outlines the topic of circular economy, its importance in the global world and towards the reduction of wastes. It is an overview of the circular economy and its advancement both locally and internationally, including the policies, grants and incentives on the national and state level. The paper also has the case of the company ‘Close the Loop,’ which is an excellent example of circular economy strategies. Moreover, it provides a suggested policy framework for organisations to follow in order to move towards the circular economy model, underlining that cooperation between the state and the private sector is crucial for sustainable, long-term environmental and economic change.

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2. Literature Review on Circular Economy Progress

2.1. International Progress

As per the views of Mazur-Wierzbicka, 2021, The advancement of an international CE has also been accompanied by important actions, especially in EU and global levels. For the notion of CE, researcher stated that the EU has become the major driver of the CE development with the help of the multiple-level analysis of the implementation of the CE across the EU countries. Following a similar argumentation, the study uses the CE indicators provided by the European Commission to categorize EU countries according to the CE advancement. These indicators act as a parameter for the measurement of the progress of every country to determine which one is the most progressive in implementing CE and which one is lagging behind. The study shows that the older members of the EU such as the Belgium and the Netherlands are the most advanced in the implementation of CE with a constant increase in the circular economy regime. The commitment to a more circular economy is also seen on international level, for example with the European Union’s Circular Economy Action Plan and the United Nations’ sustainability efforts. These initiatives are aimed at the priority areas that are recyclability, minimization of waste generation, and the efficient use of resources to enhance the life cycle of the products and the materials. On the same note, the EU’s action plan sets out clear plans as a roadmap that is focused on improving design for product, supporting sustainable consumption and making sure that resources are kept in use for as long as possible.

The UN and other similar international organizations are important in the promotion of CE practices through the development on international norms and standards, and creation of forums cross national learning. These entities call for the implementation of CE principles in the national level policies and business models, stressing on the systemic change of production and consumption practices. It is these efforts that are crucial in creating global awareness and pushing for the use of circular economy hence the need to call for action across the global communities and different organizations.

Figure 1: Circular economy in Europe

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2.2. Circular Economy Progress in Australia

National Level Policies:

In the views of Vuola et al. 2020, At the national level, the circular economy in Australia has also been advanced by policies such as the National Waste Policy Action Plan 2019 that seeks to minimize emissions of wastes, enhance the recycling rates together with the practice of circular economy principles. The plan focuses on the shift towards green economy that is more environmentally friendly, socially inclusive and economically developed. Like most other nations, Australia has to deal with the issues of resource management and with the issue of development at the same time. This is all about the interaction between the state legislation, the investors’ demands, and the necessity to preserve the environment. There are specific grants and tax incentives at the national level of the circular economy as well as sustainable waste management and recycling. The policy focuses on the partnership with the industry players, the increased involvement of the communities in the management of the resources and promotion of green economy. Nevertheless, Australia is still working on strategies to overcome such trade-offs to advance toward a green economy system and a more circular economy system.

Figure 2: CVircular economy barriers in Australiya

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State and Territory Level Policies:

According to the views of Lockrey et al. 2023, The development of circular economy in the Australian states and territories therefore leans more on sustainable design and systemic changes with Victoria and New South Wales leading in the adoption of the system. This approach is in line with the global product stewardship, waste export ban and circular economy approaches. A project, which was tackled in this paper, was initiated by the Australian Department of Climate Change, Energy, the Environment, and Water to know how design can support sustainable consumption and production. Employing co-design as the methodological mode, the project constructed diverse cross-sectional enablers such as policies, regulations, financing, and educational initiatives as levers for circularity by design. Victoria’s Circular Economy Business Innovation Centre (CEBIC) and similar programs in other states provide funding and incentives to companies that deal with circular economy, particularly with the aim of decreasing the environmental footprint and using sustainable materials. New South Wales has measures put in place that focus on efficiency of resources and minimization of wastes. However, there are still issues of coordination between the federal and state governments which at times lead to an uncoordinated progress.

3. Company Analysis – Bridgestone

3.1. Overview of "Bridgestone "

Bridgestone India Limited, mainly deal in the sales and services of automotive tires, rubber products and other vehicle related services for four-wheelers, two-wheelers, bicycles, earth-movers, aerospace vehicles, locomotives, agriculture and construction machines etc. Bridgestone IN is a foreign owned public limited company (Ibisworld, 2024). In its strategic directions, Bridgestone IN gives attention to sustainability and circular economy concepts as a purpose of not increasing negative impact on the environment but using products as long as possible. This is realized through programs including; reinflation and reuse of tires; recycling; and discovery of environmentally friendly materials. It works in the protected, circular economy, focusing on the minimization of waste, recycling, and proper recycling of tires.

Figure 3: Building a foundation for sustainable val;ue creation

(Source: https://www.bridgestone.com )

3.2. Analysis Using the Circular Economy Business Model

Product Lifecycle Management:

Bridgestone IN applies circular economy in its tire retreading, collection, and recycling program by minimizing wastage and use of new materials through reinvention. Through its retreading process, worn-out tires could have a new tread layer added to them thus cutting on the raw materials used and preserving environment (Pariafsai, 2024). Disposing of old tyres is a major problem and thus tires at their end of their useful life are turned into rubberized asphalt, which helps reduce waste. This approach stands in line with the objective of circular economy that is to optimize resource use and minimize waste during a product’s life cycle.

Partnerships and Initiatives:

Bridgestone IN relies on its strategic partners to execute its sustainable development plans. Currently, Sime Darby remains a member of the Global Platform for Sustainable Natural Rubber geared towards increasing sound practice in sourcing and production for rubber. The company also works with other local recycling companies to make sure the used tires are correctly collected and recycled, and not get dumped at the dump sites (Lila, 2022). Tire manufacturers through their take-back programmes promote the return of end-of-life tires and convert them to energy, in the form of fuel, or materials for constructions, or back to new tires. All these activities aim at establishing a closed-loop economy chain by achieving the least impact on the environment as IN continues to improve resource efficiency at Bridgestone.

Zero Waste Goal and Circular Supply Chain:

Bridgestone IN has total supply chain responsibility to pursue zero waste. It also follows circular economy approaches to develop methods that will enable the company to recycle all the raw materials. For example, using the case of Bridgestone’s reorganization of tire recycling, The firm aims at recycling rubber from used tires in order to use it to manufacture other products instead of traditional fuels such as rubberised asphalt amount (Plotnikova and de Almeida, 2020). This kind of closed loop system aid in the elimination of waste and this leads to the optimal utilization of the resources hence no dependence on natural resources. One of the strategies of Bridgestone IN is the transition of many supply chains from the linear to circular models, and such an initiative demonstrates this.

Figure 4: Tire recycling industry on the path

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Comparison with Competitors:

In the case of direct competitors like Michelin and Goodyear, Bridgestone IN has established itself by offering a powerful focus on the circular economy within its strategic plans, especially in terms of tire retreading and recycling. For instance, Michelin has its “4R” approach, which entails Reduce, Reuse, Recycle, and Renew aside from RE100 commitment to seek sustainable materials in manufacture of tires (Beer et al.2023). Bridgestone IN excels in practicing closed-loop systems in its supply chain again with an overall focus on the circular economy; its used tires turn into rubberized asphalt and fuel in support of its waste-less objectives.

Goodyear concentrates more on innovative production of its tires such as fuel efficient and long lasting tires but has not exercised as much consideration into circular economy initiatives as Bridgestone IN has exercised with its intensive recycling programs. Other victories include the collaborations with the local recycling bodies and sustainability initiatives such as Global Platform for Sustainable Natural Rubber that make Bridgestone stand out in terms of effectiveness in resource management and reduction of wastes (Zvarych, 2021). These activities allow Bridgestone IN to be almost in a category of its own in terms of circular supply chain management, specifically in converting tires waste into resources as opposed to other competitors who may have set plans on improving the rates of recycling or even product development.

4. Recommended Policy Outline for Transitioning to a Circular Economy

4.1. Policy Recommendations

Pioneer Incentives:

The governments should encourage companies such as Bridgestone IN through the provision of different types of incentives including the tax reliefs and subsidies in the implementation of circular economy business models. There is a need to have a program same as Australia Circular Economy Business Innovation Centre that could support the companies practicing circular economic models or the sustainable economy (Rimmer, 2022). Such initiatives may also be beneficial to Bridgestone IN in the sense that it would be able to receive subsidies towards its tire recycling and tire retreading procedures and thus be spurred to invest more in material recovery.

Circular Economy R&D Programs:

Leverage public funds to set up R&D initiatives that address circular economy challenges the automotive industry and the manufacture of tires. First the application of better technology in recycling and reuse of tires is most applicable to Bridgestone IN because of the advance technological SNAP it possesses in rubber recycling of tires and reuse equipment (Peterson et al. 2022). Such changes would assist the company in lowering its impact on the environment as well as enhancing product life cycle.

National Regulations for Recycling and Waste Reduction:

The national governments should enact laws that will act as guidelines to the tire recycling and waste minimization across the country. Such he might provide targets of tire recycling right of entry that possibly are achievable and clear for Bridgestone IN and all other companies in the automobile industry to embrace new standards in the proper management of wastes (Liaros, 2021). Since the regulations will be clear, businesses will be able to adapt and reduce their emission of wastes and enhance the recovery of resources for reuse hence conforming with the circular economy model.

Consumer Education Campaigns:

Governments should embark on extensive public enlightenment campaigns to sensitise consumers on circular economy principles. Such campaigns should focus on recycling process, the disposal of used tires and the part that consumers play in supporting sustainable businesses (Zhao et al. 2021). Bridgestone IN together with the policymakers it engages with can improve awareness of the consumer participation take-back programs which in turn will promote the environmental benefits of recycling and reuse of tires.

Encouraging Long-term Sustainable Practices:

Shareholders, governments, producers, and consumers need to introduce legal and financial structures to encourage companies, including Bridgestone IN, to make sustainable decisions in the long term, including lifecycle management and responsibility for products (Shooshtarian et al. 2021). Extended producer responsibility (EPR) type of policies will compel organizations to take particular responsibility for the end-of-life phase whereby it will guarantee that tires are effectively recycled or reused.

Innovation in Recycling and Supply Chains:

Encourage the development of new and efficient technologies in the recycling of tires and closed loop supply chain systems. Grant and financial support will help Bridgestone IN to foresee its technological improvements to recycling, which will make the company reach its objective of zero waste.

4.2. Expected Outcomes

Long-term Sustainable Business Practices:

Through promoting the circular economy strategies, businesses will improve resource efficiency in manufacturing companies, such as vehicle tires manufacturers. The practice of sustainability at Bridgestone IN is permanently established, thereby helping future generations embrace sustainability and improve their environmental responsibility ultimately becoming beneficial to Bridgestone IN and the entire industry.

Reduced Material Usage and Increased Resource Efficiency:

Environmental policies that address the management and reuse of resources will foster efficiency in the consumption of raw materials by companies like Bridgestone IN (Armstrong et al. 2023). This will lead to increased resource sharing, decreased use of raw rubber and productivity and at the same time decrease the environmental footprint by recycling waste rubber products and converting them into useful products like rubberized asphalt or other construction material.

Lifecycle Management and Producer Responsibility:

The implementation of the policies on lifecycle management will serve to make various companies like the Bridgestone IN company responsible for the complete life cycle of their products. This will lead to product development which will have a major focus on the aspect of recycling and sustainability. ESR producer responsibility will also foster efficient take back systems that help in recycle and improve circular economy system.

Fostering Innovation:

Thus, funding development of new technologies in recycling will help Bridgestone IN to address the existing issue with the ineffective recycling of car tires and waste reduction (Armistead and Babaahmadi, 2024). It also indicates that technology will develop in the future to improve the recovery of resources and reduce the use of landfilling, in addition to expanded applications in different industries of recycled products, which will facilitate the formation of a circular economy.

Public Awareness and Sustainable Consumer Behavior:

Educational initiatives will make consumers realize that they are promoting the circular economy agenda by supporting brands. The increase in people’s awareness will be of great advantage to Bridgestone IN because through the take-back programs and recycling programs, more people will embrace the green initiative such as recycling of used tires (Coenen et al. 2020). Such a shift in the consumption patterns of the people will also support the company’s circular economy actions and foster sustainability in the long run.

5. Conclusion

This paper highlights circular economy management strategies in the context of Bridgestone Australia Ltd and tires manufactured, and waste disposal systems. The analysis raises awareness of the requirem ent for policies directed towards increase of circularity, including financial incentives, R&D projects and campaigns for increasing consumers awareness. Collectively, the current state-based initiatives are in synergy with the existing national policies and encourage innovation, thereby charting a great progress for sustainability by business organizations.

Presentation

Slide 1: Title

Slide 2: Literature Review on Circular Economy Progress

• Global initiatives: European Union’s, United Nations’, and major countries’ actions.
• Circular economy frameworks: environmental concerns on the global levels of recycling and sustainability.
• Australia: National Waste Policy, 2019: focus.
• Grants and incentives: state led policy imperatives for circular economy.
• Victoria, NSW provide regional circular economy incentives.

SN: According to the views of Halog et al. 2021, Internationally, the progress in circular economy is ongoing with the European Union’s circular economy action plan as well as other actions by the United Nations. World’s powers pay much attention to recyclability, waste, and rational use of resources. In Australia the most recent policy is the National Waste Policy Action Plan 2019 aimed at reducing waste generation, increasing recycling and enhancing sustainable practices. More incentives that exist at the federal and state level include for instance Victoria’s Circular Economy Business Innovation Centre.

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Slide 3: Literature Review on Circular Economy Progress Continuation

• International organizations initiate circular organizations
• Australian development is anchored by national policies.
• Such practical implementation is provided by state-level programs.
• Consistent advancement requires coordination in undertaking.

In Australia, each state has a different level of achievement in dealing with circular economy, including policy enaction and budgeting. National-based efforts set the general directives for a state program; however, actual program operationalization occurs on the state level. Emphasis is given to such initiatives as reduction of waste, development of recycling programs and stable for business environment (Melles, 2021). However, federal and state government relations could be enhanced to see that there is progressive achievement all over the country.

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Slide 4: Company Analysis – Bridgestone

• Product lifecycle management: Environmental management with a primary emphasis on sustainable manufacturing of tires and proper disposal.
• Partnerships: Applies cooperation with the different industry players advocating for the environment.
• Take-back programs: Aimed at promoting the need to recycle tyres by practicing the circular economy in waste management.
• Zero waste goal: Pursuit of Less landfill use and Maximum reusing or recycling of materials.
• Circular supply chain: Emphasizing on utilization of resources, recycling, and the larger part on minimizing the effects on the environment.

Bridgestone Australia Ltd demonstrates good circular economy best practices in its firm on utilization of old car tires in production of new ones. The organization plus works closely with such players in the industry, and participates in tire recycling take back initiatives with the goal of promoting sustainability. This approach aims the minimization of landfill use through enhancing approaches in material recovery pointing to their no-waste policy (Pital et al. 2023). Such circular supply chain model is evident in Bridgestone, which provide sustainable models towards the use of resources that are sustainable in Australia.

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Slide 5: Policy Outline for Transitioning to a Circular Economy

• Incentives will encourage circular business models.
• Support the development of R&D for circular activities.
• Comply with national recycling and waste laws.
• Promote small-scale industries using recycled products.
• Provide educational campaigns about sustainable practices.

Policies should encourage companies, provide funding for R&D programs of circular innovations and enforce national recycling legislations. Original assembling of products from waste materials should be promoted through tax incentives. There is a need to step up campaign and sensitization of the consumer in order to recycle tires (Coscieme et al. 2022). Governments should encourage and help businesses by means of tax incentives, grants and mandatory take-back schemes in awareness and development of circular business models, as an example, Bridgestone IN’s objectives in sustainable tire manufacturing.

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Slide 6: Policy Outline for Transitioning to a Circular Economy Continuation

• Policies that give long-term sustainable incentives to worldwide companies.
• Encourage appropriate utilization of resources and recyclable products.
• Apply lifecycle management with producer responsibility.
• Promote innovation in recycling and supply chain.
• Promote circular economy consciousness and engagement.

The long-term sustainable business development and resource efficiency will be also useful to a company like Bridgestone IN. Extended producer responsibility will guarantee the optimization of the product’s lifecycle, which will increase the possibility of recycling. By using recycling of tires and developing the sustainable supplies chains with the help of the government bonuses and boosts, the goal of zero waste will be achieved (Kazancoglu et al. 2021). Policies aligned with circular economy principles will thus be implemented by Bridgestone IN to increase the firm’s environmental accountability and develop a sustainable business.

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Slide 7: Reference list

Slide 8: Thank you

Reference list

Journals

• Akomea-Frimpong, I., Jin, X., Osei Kyei, R., Tetteh, P.A., Tumpa, R.J., Ofori, J.N.A. and Pariafsai, F., 2024. A review of circular economy models and success factors on public-private partnership infrastructure development. Built Environment Project and Asset Management, 14(1), pp.109-126.
• Armistead, S.J. and Babaahmadi, A., 2024. Navigating regulatory challenges, technical performance and circular economy integration of mineral-based waste materials for sustainable construction: A mini review in the European context. Waste Management & Research, p.0734242X241270973.
• Armstrong, K., Avery, G., Bhatt, A., Burton, R., Carpenter, A., Cresko, J., Dollinger, C., Dong, W., Iloeje, C., Graziano, D. and Greenblatt, J., 2023. Sustainable Manufacturing and the Circular Economy (No. NREL/TP-6A20-80177; DOE/EE-2696). National Renewable Energy Laboratory (NREL), Golden, CO (United States).
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• Coenen, L., Goedegebuure, L. and Fastenrath, S., 2020. Developing and implementing an approach to regional innovation and development in Gippsland, Victoria (2018-2020).
• Coscieme, L., Manshoven, S., Gillabel, J., Grossi, F. and Mortensen, L.F., 2022. A framework of circular business models for fashion and textiles: the role of business-model, technical, and social innovation. Sustainability: science, practice and policy, 18(1), pp.451-462.
• Halog, A., Balanay, R., Anieke, S. and Yu, T.Y., 2021. Circular economy across Australia: taking stock of progress and lessons. Circular economy and sustainability, 1(1), pp.283-301.
• Ibisworld, 2024. Company analysis. Accessed from: https://www.ibisworld.com/au/company/bridgestone-australia-ltd/234/#:~:text=Bridgestone%20Australia%20Ltd%20is%20a,rubber%20products%2C%20and%20vehicle%20servicing. [Accessed on: 17.9.2024]
• Kazancoglu, I., Sagnak, M., Kumar Mangla, S. and Kazancoglu, Y., 2021. Circular economy and the policy: A framework for improving the corporate environmental management in supply chains. Business Strategy and the Environment, 30(1), pp.590-608.
• Liaros, S., 2021. Circular food futures: what will they look like?. Circular Economy and Sustainability, 1(4), pp.1193-1206.
• Lila, A., 2022. The development of Circular Economy in China as a national strategy.
• Lockrey, S., Hill, A., Fennessy, L., Millicer, H., Collins, R., Anich, J. and Verghese, K., 2023. Creating national strategy for circular design through co-design: An Australian perspective.
• Mazur-Wierzbicka, E., 2021. Towards circular economy—A comparative analysis of the countries of the European Union. Resources, 10(5), p.49.
• Melles, G., 2021. Figuring the transition from circular economy to circular society in Australia. Sustainability, 13(19), p.10601.
• Peterson, H.M., Baker, L.A., Aggarwal, R.M., Boyer, T.H. and Chan, N.I., 2022. A transition management framework to stimulate a circular phosphorus system. Environment, Development and Sustainability, 24(2), pp.1713-1737.
• Pithan, L., Starostin, V., Mareček, D., Petersdorf, L., Völter, C., Munteanu, V., Jankowski, M., Konovalov, O., Gerlach, A., Hinderhofer, A. and Murphy, B., 2023. Closing the loop: autonomous experiments enabled by machine-learning-based online data analysis in synchrotron beamline environments. Journal of synchrotron radiation, 30(6).
• Plotnikova, E. and de Almeida, L., 2020. Towards Circular Economy. Based on Voluntary Standards of Companies: What to Change in Law to Enhance Circular Economy?.
• Rimmer, M., 2022. Shane Rattenbury, the productivity commission, and the right to repair: intellectual property, consumer rights, and sustainable development in Australia. Berkeley Tech. LJ, 37, p.989.
• Shooshtarian, S., Maqsood, T., Wong, P.S., Khalfan, M. and Yang, R.J., 2021. Extended producer responsibility in the Australian construction industry. Sustainability, 13(2), p.620.
• Vuola, M., Korkeakoski, M., Vähäkari, N., Dwyer, M.B., Hogarth, N.J., Kaivo-Oja, J., Luukkanen, J., Chea, E., Thuon, T. and Phonhalath, K., 2020. What is a green economy? Review of national-level green economy policies in Cambodia and Lao PDR. Sustainability, 12(16), p.6664.
• Zhao, Y., Reuther, T., Bhatt, A. and Staines, J., 2021. Australian landscape for lithium-ion battery recycling and reuse in 2020. Future Battery Industries Cooperative Research Centre.
• Zvarych, I., 2021. Circular economy and global waste management.

Author Bio

Cameron Lee   4 years | MSc in Management

I am Cameron Lee and I have completed an MSc in management from a renowned University of the United Kingdom. For the last 4+ years, I have been assisting students with their assignments, dissertations, essays and other academic papers. If you are struggling with your management task you can have me by your side for help. I would like to give you the best results.