It’s time to put what you’ve learned to the test, get 8 questions right to pass this unit.
Q1.
What are the key implications of Extended Producer Responsibility (EPR) for business?
There are 3 correct answers.
A
Product development will need to change to design with circularity in mind and eliminate waste.
B
Producers will need to track and trace billions of items at product/item level.
C
Carbon offsets become more important since they can be purchased to cover EPR allowances
D
Consumers are responsible for products after purchase.
E
New business models need to be embraced to support new circular business practices.
Q2.
What is a business model?
Choose the correct answer.
A
A business model describes how businesses structure themselves internally.
B
A business model is a computer simulation of a business.
C
A business model describes how businesses create, deliver, and capture value for themselves and their customers.
D
A business model describes the theory of how to set up any kind of business.
Q3.
From a circular economy perspective, why is parts remanufacturing a good strategy?
Choose the correct answer.
A
Combined with long-life product design it prolongs customer usage of the original product.
B
It is easy to implement.
C
Remanufactured parts can be sold for higher prices than new products.
D
It enables the company to borrow money at cheaper rates of interest.
Q4.
What is the main characteristic of the Product-as-a-Service business model?
Choose the correct answer.
A
The customer pays for the outcome or performance of the product.
B
The customer pays for owning the product.
C
The customer pays for the attractive product-related financing offer.
D
The customer pays for the special environmental compatibility of the product.
Q5.
How can businesses help consumers make more sustainable choices to support their compliance with Extended Producer Responsibility (EPR)?
Choose the correct answer.
A
By educating and empowering consumers on how to use products properly and what to do with them after use.
B
By providing consumers with different platforms to buy their products.
C
By providing consumers with unlimited product support for five years.
D
By engaging with consumers to buy cheap products which can be recycled.
Q6.
What factors are leading to higher Return on Sustainable Investment (ROSI) benefits for the fashion industry?
There are 3 correct answers.
A
Higher margins for reused clothing (the clothes are sold cheaper, but bring more profit since the expenses are proportionally lower)
B
Accelerating fast-fashion trends (since customers feel better about sustainable garments, they buy new garments more often)
C
Search for new status symbols (sustainable clothing replaces old status symbols such as long-distance travel or new electronic devices)
D
Incremental sales (when someone purchases a renewed product, they also purchased other products)
E
Lower acquisition cost of new customers (younger demographics finding brands due to circularity approach)
Q7.
What are key indicators for establishing a Product-as-a-Service business model?
There are 2 correct answers.
A
The product can be charged on a pay per use basis.
B
Customers are willing to adopt the financial model and relationship.
C
There is hardly any wasted product capacity left.
D
The product can be disposed of cheaply since there are no dangerous ingredients.
Q8.
How can the Rheaply platform best be described?
Choose the correct answer.
A
It is like a “Google for decommissioned or under-utilized assets”.
B
It’s a marketplace for new assets.
C
It tracks the carbon intensity of assets to improve productivity.
D
It uses machine learning to predict when assets will need maintenance.
Q9.
In the context of social inclusion, John Holm from PYXERA Global states some figures. What percentage of venture capital funding in the United States goes to black/LatinX communities?
Choose the correct answer.
A
1%
B
5%
C
10%
D
17%
Q10.
How does Closed Loop Partner help to make innovations for the circular economy less risky?
There are 3 correct answers.
A
They bring together competitors and companies cross-industry and across the value chain in order to innovate together.
B
They launch targeted innovation challenges that set a market signal so that suppliers create solutions.
C
They support prototyping and testing and help scale the infrastructure.
D
They make their laboratories and R&D staff available to companies.
E
They fund circular economy ideas without a mandatory prior risk assessment.