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What is Circular Economy (CE)

Chapter 10
Strategic Business Models to Support Demand, Supply, and Destination Management in the Tourism and Hospitality Industry
A closed system, the outputs of all parts of the system is linked to the inputs of other parts. There are no inputs from outside and no outputs to the outside; indeed, there is no outside at all. A new concept of re-use, re-cycling and re-defining where a new product is created which is needed by consumers. It is a non-linear concept of a relationship between consumers and producers. The circular economy defines new capacity for production, using raw materials and others in order to create a new value in products and a new value chain. There is a maximization of product utility by consumers. Nothing is lost, but transformed in order to create a necessity in consumers/organisations.
Published in Chapter:
New Challenges for the Tourism Sector in the Algarve Region Based on Evaluation of the Circular Economy
Ana Pego (Universidade Nova de Lisboa, Portugal)
Copyright: © 2020 |Pages: 15
DOI: 10.4018/978-1-5225-9936-4.ch010
Abstract
During recent years, the increase in tourism in the Algarve has shown an increase in changes in supply for consumers. This means that the tourism industry has started to change attitudes towards an ecosystem based on consumer behaviour and positive externalities. Consequently, the supply changes based on the circular economy (CE) have become one of the main issues for sustainable tourism in the Algarve. The propose is to analyse the relationship between the CE and the tourism industry based on stakeholder opinions and evaluate the tourism business model founded on a new assumption of positive externalities from the tourism sector. This chapter discusses the tourism sector and evaluation of the circular economy based on Porter's diamond model methodology. This chapter concludes that the tourism industry in the Algarve has started to show interest in changing attitudes to an efficient and smart perception of the CE. This investigation will give other sectors the opportunity to discuss the CE process based on a new supply of and innovation in products.
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Chapter 8
Consumer Awareness and Degree of Engagement With Circular Economy Practices: Evidence From Turkey
An economy designed to keep products, components, and materials at their highest utility and value.
Published in Chapter: Consumer Awareness and Degree of Engagement With Circular Economy Practices: Evidence From Turkey; From: Ethical and Sustainable Supply Chain Management in a Global Context
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Chapter 2
Sustainable Eco-Innovation: Some Points to Ponder
Circular economy is an industrial term in industrial economics that refers to recycling and reproduction rather than the process of production, use, and disposal.
Published in Chapter: Sustainable Eco-Innovation: Some Points to Ponder; From: Leadership Perspectives on Effective Intergenerational Communication and Management
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