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New Business Models in the Circular Economy

New Business Models in the Circular Economy

Code: ECO8HH101
Extent: 5 ECTS (135 h)
Timing:
Language: English with possibility to complete assignments and/or exams in Finnish for Finnish speaking students.
Level: Professional specialization studies
Type: Optional

 

Description of the module

This module will explore the different business models available to operate in the circular economy, examine their basic assumptions, test, explore, build and validate alternative business models and give tools to evaluate the outcomes. The module will also introduce the students to the basic premises of the sharing economy and platform businesses.

Understanding and creating the viable business models also requires extensive knowledge of the operating environment and all the relevant stakeholders that need to be involved in creating a circular economy business model. A rigorous stakeholder analysis is thus also introduced in the module and students are exposed to exploring the industries and their relevant players as well as stakeholders outside of the immediately relevant industry in question.
 

Parts of the module

This module will explore the different business models available to operate in the circular economy, examine their basic assumptions, test, explore, build and validate alternative business models and give tools to evaluate the outcomes. The module will also introduce the students to the basic premises of the sharing economy and platform businesses.

  1. The basics of business modeling
  2. New business models in the circular economy
  3. Sectoral insights into the circular economy
  4. Introduction to sharing and platform economy
  5. Circular economy design
  6. Stakeholder analysis and engagement
  7. Lean start-up and lean service creation application to circular economy business models:

 

Starting level and linkage with other courses

This course is one module in the 15 credit specialization in the circular economy (an independent Learning Lane). This course is part of the 3UAS joint study offering. Approved completion of an introductory course to Corporate Responsibility is a strong recommendation. The student has to take all three interconnected modules in the learning lane.

 

Learning objectives and assessment

Competence level 1-2

  • The student can identify, list and combine the main issues related to circular economy.
  • The student can, when part of a team, contribute to tackling and developing circular economy solutions in an organization.
  • The student can conduct research to identify the elements of circular economy.
  • The student can only with difficulty apply problem identification, analysis and solving to circular economy. The student does not demonstrate aptitude or interest in developing circular economy solutions.

Competence level 3-4

  • The student can describe the main issues related to circular economy and apply them to new contexts. The student can link the key theoretical concepts to the practical tasks. The student has an understanding of how circular economy contributes to organizational success.
  • The student can identify and create circular economy elements and business models  in an organization and implement them with some support.
  • The student shows moderate independence in his/her work. The student can apply problem identification, analysis and solving to circular economy to a certain extent. The student demonstrates some aptitude and interest in developing circular economy solutions.

Competence level 5

  • The student can use and combine different theories to present her own suggestions and models. The student is aware of conflicting views on the topics. The student uses theory and specific terminology accurately. The student has a clear understanding and appreciation of how circular economy contributes to organizational success.
  • The student can identify, create, implement and develop circular economy solutions and business models in an organization independently or with only occasional support.
  • The student shows a great degree of independence in his/her work. The student can skillfully apply problem identification, analysis and solving to circular economy issues and projects to an extent. The student demonstrates great aptitude and interest in developing circular economy solutions.

 

Recognizing and validating prior learning (RPL)

Accreditation of prior learning is observed on the course according to separate instructions

 

Cooperation with the business community

The entire module is undertaken as an assignment to a real-life company; and done as a mixed multidisciplinary team.

 

Internationality

The course is taught in English, can be attended by international students and all assignments are related to the internationalization efforts of a company. The course is international by definition.

 

Timetable

The schedule is introduced in detail in each implementation plan.

 

Learning methods

Blended learning, especially the flipped classroom approach, for the more theoretical parts. For the practical application action learning is engaged, which by definition includes a real problem that is important, critical, and usually complex. Students will work in a diverse problem-solving team. A real-life business challenge of a company related to the circular economy will be solved. Professional responsibility for the project from start to finish by students.

Modules 2 and 3, business models and service design, will be co-implemented having Circular Economy Boot Camps with joint contact sessions and same assignments. This will ensure both learning, teaching and working with the commissioning companies is smooth and effective. Modules 2 and 3 are taught together during 10 weeks, with one half-day workshop each week and an additional two Boot Camp Days. Half of the workshops will be in Laurea and half in Haaga-Helia

 

Assessment

The course requires strong and goal-oriented commitment on behalf of the student to team work and the contact sessions in the modules. The grade will be based partly on the output and the value of the project deliverables to the client company (50%) and partly on the students own commitment, activity and demonstrated professional attitude (50%).

All project deliverables and on-line learning tasks are evaluated 1-5.
Assessments can be followed in Moodle.
Students' performance is graded on the following scale: Excellent (5), Very good (4), Good (3), Satisfactory (2), Fair (1), Fail (0). The assessment criteria is presented on scale 1 to 5.

Course teachers

Minna-Maari Harmaala, Haaga-Helia

 

Learning materials

All materials are available on-line and recommended reading and other reference materials are available on-line.

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