Assignment 1
Additional Jobs and Wider Societal Benefits related to the impact of circular economy on Energy
A circular economy is typically a general term used to describe a manufacturing economy that is designed in a manner that ensures biological nutrients have the capacity of entering the environment in a safe manner as industrial wastes are released in a way that does not pollute the environment. Moving towards such an economy, redesigning and rethinking about the production as well as the recycling cycle is paramount in diminishing externalities (Crocker et al., 2018). Nonetheless, amongst all these strategies, there vital to understand the impacts of the circular economy to oil and gas and renewable energy manufacturing sectors before desiring to improve the welfare of the society. Being an essential part, this is important because the general importance of the circular economy is not always restricted to the concept of continued manufacturing that is often associated with the idea of carrier development (Lacy & Rutqvist, 2015).
Although to some extent it is difficult to generalize the characteristics or properties of the current economy, it is evident that each employment strategies have different limits or advantages. Based on the advantages and limits of the circular economy in creating additional jobs, it is important to distinguish the type of skills a person has for him or her to be employed. This is imperative because it is the one which will assist in selecting the most suitable candidate and fit for performing a certain task (Akkucuk & IGI Global, 2019). The reason for that is because the role of the circular economy does not entail diminishing some of the environmental externalities found within the oil and gas and renewable energy industries.
As a result of that, in the act of determining the means of increasing job opportunities as well as offering wider societal benefits, there is the need of adding it into the “rethinking” process of the agendas the circular economy has. Likewise, in order to be in the position of closing the loop, several efforts have to be taken into consideration, for instance the type of materials to be utilized in production, the easiness to dismantle some of the disposed products, and so on (Kreiser, 2015).
Despite that, by depending on the importance of the circular economy, it is important to consider the match which exists between these sources of energy and the demands of the end-user. Taking this into account the need for creating more jobs and improving the well being of the society, the impacts of the efficiency of the circular economy and the use of energy in production also need to be understood (Larsson, 2018). For any well-established circular economy, energy sources and raw materials are some of the factors which are taken into account by the local suppliers. Likewise, it is important to ensure that a more efficient energy management system is available to assist in approaching the idea of localizing the circular economy (Qi et al., 2016). Such an approach will take into account retrofitting or redesigning the circular economy and the utilization of the energy.
Nonetheless, resource sustenance and ecological sustainability are some of the main goals of the circular economy. Initially, the circular economy was established for the purpose of shifting the conventional “open-loop system” into the modern “closed-loop system”. The reason for selecting the closed-loop systems is to assist manufactures to understand the role of the circular economy. Considering the conventional open-loop system, the interaction that exists between the environment and the industrial system cannot be easily avoided. Because of that, some extent of environmental deterioration always exists. Contrary to that, guided by the significance of the circular economy, the closed-loop economy assists in ensuring that waste products, the emission of carbon during the production process, as well as other industrial waste materials are part of the manufacturing system (Jutta, 2016). Therefore, in a globalized and inclusive form, the general recycling of industrial waste products is one of the key elements of the circular economy.
During the process of creating additional jobs and enhancing wider societal benefits related to the impact of a circular economy on energy, it is important to understand where the economy is currently heading to. Due to the fact that long-distance transportation is not only costly but technically difficult, the role of the circular economy ought to be concentrated on the local industries (Haydn & Paul, 2016). The reduction of energy losses to the environment is one of the important factors to take into consideration when it comes to the need of “closing the loop”. The reason for that is because suitable match-ups among energy suppliers and end-users ought to be established beforehand. From the perspectives of the existing producers, retrofitting these energy sources and the supply of raw materials is one of the cost-effective and promising strategies to take.
When enhancing the establishment of the circular economy, the idea of adopting such an economy ought to be evaluated based on industrial outcomes. Research indicates that it is vital to ensure that all the manufacturing processes do not directly interact with the environment. The reason for that is because the environment is meant to remain intact despite the production, disposal, or other manufacturing procedures (International Conference on Urban Growth and the Circular Economy et al., 2018). In case manufacturing speed and revenues are the main key performance indicators (KIPs) in assessing production process and product quality, several manufactures could have ignored the importance of environmental restoration. This could have happened so in case there is no value dedicated to carbon emission control strategies, energy efficiency, and by-product recycling (Brears, 2018).
With equitable investment and effective implementation of this policy will aid in creating effective means of utilizing the available resources at the same time reducing wastage. In the process of delivering that, mid-skilled and low-skilled employments will simultaneously drive resource utilization effectively. In the circular economy, growth whether transformation or modest have the capacity of creating a wide range of recruitment opportunities that assist in tackling the existing challenges. For instance, disparities in regional unemployment can easily be reduced through the spreading recruitment opportunities to a wide geographical area in the circular economy (Jutta, 2016). Likewise, extensive economic development in the circular economy will involve servitisation and continued remanufacturing which in return create recruitment opportunities near the industrial sites in which hiring seem to be higher.
This is important because it increases the rate of development in such a region as one of the means of ensuring equitable distribution of resources. This implies that in case the circular economy is to be established effectively, there ought to be sufficient skills for it to be delivered. For instance, the available skills should be developed first for such an economy to grow (Larsson, 2018). Feedbacks obtained from the industrial sectors suggest that still there is an absence of employees with the required skills and knowledge. Therefore, there is the need of ensuring that this gap does not continue to widen as the circular economy grows with this transition. Finally, it is the expansion of the circular economy which has the capacity of alleviating the labor market challenges or the current structural unemployment (Haydn & Paul, 2016).
Assignment 2
Implantation of HSE (Health Safety and the Environment) Policy on the Management and Economics of this particular area
The circular economy is perceived as being an industrial revolution which has the capacity of making business organizations to be more competitive hence resulting to a wider societal benefits. In return, it is possible to promote the policy framework that supports the efforts used to unleash the importance of the circular economy (Ridley, 2015). The reason for that is because discontentment amongst individuals has for long been increased by the feeling of social inclusion, technological changes, and fears that globalization has ended up removing control over their lives. With the implantation of HSE (Health Safety and the Environment) Policy on the Management and Economics of this particular area, it means that the circular economy will have the capacity of offering means of abating this trend.
Research has indicated that it is possible to correct structural employment which in return increases opportunity and income of those who might have been left out of the labor market (Gallaud & Laperche, 2016). Despite that, care ought to be taken into consideration whenever policies have been introduced to boost the growth of the circular economy. The reason for that is to ensure that income inequality, environmental pollution, and so on has been diminished. In return, it becomes possible for the world economies to be the driving force of new models of smart economic growth. Therefore, the implantation of the HSE policy will end up unleashing the opportunities of the circular economy as well as equitable resource utilization, product production, and environmental management (Akkucuk & IGI Global, 2019).
The continued emission of carbon is perceived to be the main obstacle to “closed loop”. The reason for that the majority of industrial producers are still depending on burning fossil fuels, for example refined oil and coal products. In the process of reducing the emission of carbon into the atmosphere, it is important to introduce the utilization of renewable energy in the production cycle (Usman &Nathan, 2016). Considering the huge amount of carbon emission from burning coal, it is intuitive to imagine to what extent the HSE policy will have the potential of reducing the emission of carbon at an unusual scale. Despite that, in the act of replacing conventional energy with the available renewable energy, there is the need of addressing some of its properties (Gallaud & Laperche, 2016). This includes things like energy storage, energy transportation, and density, and the match-up of energy suppliers and consumers or end users.
In particular, in the process of reducing the negative impacts of the conventional “open-loop system”, it is easier to establish a resilient economy. This is to mean that there is the need of reducing the impacts of future environmental disruptions in business’ and societal propensity. Similarly, some of the main goals of the HSE policy are to assist in delivering high impact program which will make the circular economy to thrive well (Brears, 2018). The Implantation of HSE (Health Safety and the Environment) Policy on the Management and Economics assist in the establishment of more “local”. With the HSE policy, it means that the reproduction, development of skills in repair and maintenance is the one which assist in creating a sense of cohesion in the environment (Usman &Nathan, 2016).
The move towards the circular economy with the aid of the implantation of the HSE policy will assist in linking other existing regional development strategies. For instance, industrial development studies suggest that the circular economy has the ability to make a real contribution to environmental protection (Haggar, 2007). For instance, in the process of reducing waste production, the establishment, and the implantation of the HSE policy is aimed at maintaining the prices of raw materials, manufactured products, and other industrial activities. In the process of shifting from conventional linear economy into the modern circular economy, some day-to-day business procedures end up remaining unaffected.
The criteria used in this case entails drawing on the strengths of the circular economy as a means of implementing the HSE policy on collaboration, leadership, as well as on practical action. Such an action plan on the management and economics of the circular modern “closed-loop system” is also aimed at raising responsiveness, creating an innovative and collaborative program (McKeown & Bugyi, 2016). Such efforts include things like the application of modern technologies so as to increase investment and innovation in business organizations manufacturing and selling products, as well as those involved in material and waste management (Sima, 2018).
Although research indicates that are various benefits associated with implantation of the circular economy, studies, and empirical evidences on systematic and methodological transition still remain scarce. Despite that, there are those procedures that cease to exist or changes completely (Syngellakis & Melgarejo, 2018). Therefore, systematic approach is the heart of fruitful transition when implanting the HSE policy because a business can fail to thrive well in the transition process in case it does not take that into account. It is also vital to understand the external and internal barriers which exist in the circular economy (Gardetti & Muthu, 2019). In line with that, it becomes possible for business organization to experience robust economic growth (Ridley, 2015).
Typically, the implantation of the HSE policy on management and economics suggests that the circular economy will greatly contribute towards offsetting the decrease in the middle-level occupations. The reason for that is because the available sectors that provides middle-level recruitment, for instance closed loop recycling and remanufacturing provide possible ways of addressing the decrease in these jobs (Nigel, 2015). This is what will assist companies to be aware of some of the obstacles they might face in the process of adopting the circular economy, increase job opportunities, and other associated societal benefits
Essay 1 references
Brears, R. C. (2018). Natural resource management and the circular economy. Palgrave Macmillan
Crocker, R., Saint, C., Chen, G., & Tong, Y. (2018). Unmaking waste in production and consumption: Towards the circular economy.
Haydn, W & Paul, T. (2016). A Future Beyond Growth: Towards a steady state economy. Publisher Routledge Press
In Akkucuk, U., & IGI Global,. (2019). The circular economy and its implications on sustainability and the green supply chain. Hershey, Pennsylvania Press
International Conference on Urban Growth and the Circular Economy, In Syngellakis, S., & Universidad de Alicante,. (2018). Urban growth and the circular economy. Southampton, Boston : WIT Press
Jutta, G. (2016). Urban Recycling Cooperatives: Building resilient communities Routledge Advances in Regional Economics, Science and Policy. Routledge Press
Kreiser, L. (2015). Carbon pricing: Design, experiences and issues. Cheltenham : Edward Elgar Pub
Lacy, P., & Rutqvist, J. (2015). Waste to wealth: The circular economy advantage. Basingstoke, Hampshire : Palgrave Macmillan press
Larsson, M. (2018). Circular business models: Developing a sustainable future. Cham, Switzerland : Palgrave Macmillan Press
Qi, J., Zhao, J., Li, W., Peng, X., Wu, B., & Wang, H. (2016). Development of Circular Economy in China. Singapore: Springer Singapore.
Essay 2 references
Brears, R. C. (2018). Natural resource management and the circular economy. Cham, Switzerland : Palgrave Macmillan Press
Gallaud, D., & Laperche, B. (2016). Circular economy, industrial ecology and short supply chain. London, England ; Hoboken, New Jersey : ISTE : Wiley Pres
In Akkucuk, U., & IGI Global,. (2019). The circular economy and its implications on sustainability and the green supply chain. Hershey, Pennsylvania Press
In Gardetti, M. A., & In Muthu, S. S. (2019). Sustainable luxury: Cases on circular economy and entrepreneurship. Springer Press
In McKeown, E., & In Bugyi, G. (2016). Impact of water pollution on human health and environmental sustainability.
In Sima, V. (2018). Organizational culture and behavioral shifts in the green economy. Hershey, PA : Business Science Reference
Nigel, H. (2015). EU Environmental Policy: Its journey to centre stage. Routledge Press
Ridley, J. R. (2015). Safety at Work. Unconventional Oil and Gas Resources: Exploitation and Development. Cambridge Press
Syngellakis, S & Melgarejo, J. (2018). Urban Growth and the Circular Economy: Volume 179 of WIT Transactions on The Built Environment. WIT Press
Usman A, D &Nathan, M. (2016). Emerging Trends and Technologies in Petroleum Engineering. CRC Press
