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Circular Economy - How recycled polyfloss keeps refuge shelters warm

Graham Watson

28th January 2023

Here is a lovely example of the circular economy with the use of waste plastics to construct a polyfloss plastic that can serve as insulation to keep the most basic refuge shelters warm.

Their ethical business model has turned down the chance to be bought out and keep production small, because it better aligns with their corporate objectives.

Background - what is an ethical business model?

An ethical business model is one that prioritizes ethical principles and values in its operations and decision-making. This can include considerations such as fairness, transparency, accountability, and respect for human rights, the environment, and the community.

An ethical business model is often characterized by the following features:

  1. Fair treatment of employees: An ethical business model prioritizes the fair treatment of employees, including providing fair wages, benefits, and working conditions. It also ensures that employees are treated with respect and dignity.
  2. Transparency: An ethical business model is transparent in its operations and decision-making. This includes being open and honest about its business practices, as well as being accountable for its actions.
  3. Responsible business practices: An ethical business model operates in a responsible and sustainable manner, taking into account the impact of its operations on the environment and the community.
  4. Respect for human rights: An ethical business model respects human rights and avoids any actions that may contribute to human rights violations.
  5. Compliance with laws and regulations: An ethical business model adheres to all relevant laws and regulations, and avoids engaging in any illegal or unethical activities.
  6. Corporate Social Responsibility: Ethical business models also focus on the social and environmental impact of their operations and take steps to minimize negative impact and maximize positive impact.

In short, an ethical business model is one that prioritizes the well-being of all stakeholders, including employees, customers, suppliers, shareholders, and the community, and operates in a responsible and sustainable manner.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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