In today's dynamic industrial landscape, the efficient use of resources has emerged as a paramount concern for businesses. This issue pertains to the economic management of both organic and technical resources, which play crucial roles in diverse production and consumption systems. Industries spanning from agriculture and food processing, to manufacturing and technology sectors, are currently contending with the formidable task of curbing the waste of valuable resources.  It is important for us to understand the nature and extent of the problem and explore sustainable solutions that can help us transition toward a more resource-efficient future.  This first week of classes focuses on the question: What and how much does business waste? CLASS 1 – PREPARE BEFORE CLASS Watch: Introductory Video on Circular Economy (15 min). Accessible at this link. Read: Molly Glick, “Why Scientists Don’t Want Our Poop to Go to Waste”, Discover Magazine, May 16, 2021Links to an external site. Read: “How Does Food Waste Impact the Climate?”, Rainforest Action Network, August 24, 2015Links to an external site. Read: “The Biological Cycle of the Butterfly Diagram”. Ellen MacArthur Foundation. Read: Brooke Bauman, “How plastics contribute to climate change”, Yale Climate Connections, August 20, 2019 Read: “The Technical Cycle of the Butterfly Diagram”. Ellen MacArthur Foundation. After reading, reflect upon these questions: What are some key sources and types of organic waste? What are some key sources and types of technical waste? How does organic and technical waste affect society and the natural environment?  What are some key business solutions for addressing organic and technical waste? CLASS 2– PREPARE BEFORE CLASS: Read and prepare: Stephan Vachon and William Diebel, Waste Audit at Innovation Works London (A) (parts (B) and (C) will be distributed during class). As you read the case, consider the following preparatory questions: 1. What components of the waste audit does Pendlebury need to consider and include in her waste audit plan draft?  2. if you were in Pendlebury’s position, what types of materials and resources would you gather for the waste audit?  3. Is June a good month to conduct a waste audit at Innovation Works? Are there other considerations that Pendlebury should have addressed during the June 11 meeting? 

In the previous classes, we learned about diverse sources and types of organic and technical waste. We have also discussed how organizations can track their waste and properly dispose of it, achieving zero-waste status. Now, we want to learn why businesses waste. Exploring this question is KEY to identify economic and organizational problems diverse stakeholders, such as business leaders, investors, and regulators, need to solve if our global and national economy becomes truly circular. In this session, we will explore the various factors that contribute to the wastage of organic resources, with a specific focus on the Agri-Food sector. We will delve into the behavior of diverse actors within our supply chains CLASS 3: PREPARE BEFORE CLASS: Read the following instructions: The Beer Game Board Version. Available here. Get ready for an exciting and immersive learning experience as we introduce the renowned 'Beer Game' simulation developed by MIT. The 'Beer Game' is a dynamic and interactive exercise designed to illustrate the complexities and challenges of supply chain management. Before we dive into the simulation, it is essential to prepare ourselves adequately. Review the rules and mechanics of the 'Beer Game' to ensure a smooth gameplay experience. Students will be divided into small groups and each group will take on a role within the supply chain, representing different stages from production to distribution. As you navigate the simulation, keep in mind the potential challenges that can arise, such as delays, miscommunication, and fluctuations in customer demand. By actively participating in the 'Beer Game' simulation, you will gain firsthand experience on why our production and consumption systems generate waste. Be prepared to analyze data, make decisions, and adapt your strategies in real-time.   Get ready to put your knowledge and skills to the test!  CLASS 4— PREPARE BEFORE CLASS: Read: “Closing the Food Waste Gap”, Boston Consulting Group, accessed on November 2, 2023. Read: page 42 of “A Vision for a Circular Economy for Plastics in Canada,” February 2019, by Smart Prosperity Institute. Reflect upon these questions: What are some key drivers of organic waste? What are some key drivers of technical waste? Do drivers differ between organic and technical waste? If so, how? Read: “Systemic drivers of wasted resources in Business” by Prof. Jury Gualandris. A copy of this document will be printed and distributed for you at the end of CLASS 2. (Optional) Skim through: Donella Meadows, Leverage Points: Places to Intervene in a System, 1999.

In today's rapidly changing world, it is crucial for business leaders to embrace innovative approaches that maximize eco-efficiency and eco-effectiveness, often synergistically. Circular design offers a transformative solution by rethinking traditional linear production models and promoting a regenerative approach to product design and development. Throughout these sessions, we will explore the fundamental principles of circular design. We will learn how to approach the design of successful circular products, business models, and systems that prioritize durability, adaptability, and the use of renewable materials; with the aim for us to reflect on important stakeholder trade-offs, from a management perspective. Moreover, we will also delve into the concept of designing for disassembly and recycling, enabling an easier recovery and reuse of materials at the end of a product's life cycle. Get ready to unlock your creativity, before we apply your learning to a real case in our next in-person class discussion.  CLASS 5— Prepare before class: Watch: Introductory video on diverse circular strategies for business (15 min). Accessible at this link. Read: Simon Widmer, “Design and the circular economy,” Ellen MacArthur Foundation, January 21, 2021, Read: Paul T. Anastas and Julie B. Zimmerman, “Design through the 12 Principles of Green Engineering,” Environmental Science & Technology 37, no. 5 (2003): 94A–101A. Prepare: Atalay Atasu and Manuel Sosa Re-Designing a VHS Tape for Circularity (Asia INSEAD 2021) 4 product no IN1754 CLASS 6— Prepare before class: Read: Maya Fischhoff, “Business Models for the Circular Economy — and Which Make a Difference,” Network for Business Sustainability, November 28, 2023. Read: Atalay Atasu, Céline Dumas, and Luk N. Van Wassenhove, “The Circular Business Model,” Harvard Business Review, July–August 2021. Available at this https://hbr.org/2021/07/the-circular-business-model

During these sessions will deepen our understanding of innovation processes in the context of circularity and regeneration: CLASS 7—Prepare before class: Read: Smith, W. K., Lewis, M. W., & Tushman, M. L. (2016). Both/and” leadership. Harvard Business Review, 94(5), 62-70. https://hbr.org/2016/05/both-and-leadership Read and prepare: Jury Gualandris, Natalie Diezyn and Jennifer Goodman, A&W Canada: Serving Great Taste with Minimal Waste. As you read the case, consider the following preparatory questions: Who are A&W Canada’s stakeholders and what are their interests and concerns? Is there any trade-off between their distinct positions?   What should be the economic criteria when choosing between different packaging options?  What option would you prefer when applying this decision model? What should be the environmental criteria when choosing between different packaging options? What option would you prefer when applying this decision model?   What would be your recommendation to Angela?  CLASS 8— Review your notes from CLASS 7 and be ready to deepen the analysis of the same A&W case discussed during it.

To be successful, any business model must consider the embedded value of wasted resources, their ease of access, and the costs and complexity of processing these resources into new materials, products, and services. Accessing and processing wasted resources is the bread and butter of supply chain management. Therefore, for any contingent combination of circular strategies (e.g., circular product design, life extension, circular usage), a firm's business model will be successful if: It relies upon a capable operational system; and It fits the unique ‘rules of the game’ defined by regulators at regional, national and international levels. In these sessions, we will delve deeper into the development of competitive, circular operations and supply chains. We will also examine how public policy interacts with the development of such operational systems. Specifically, we will review a suite of policy interventions that could accelerate (or jeopardize) the development of sustainable, circular businesses.  CLASS 9— Prepare before class: Read: Jury Gualandris, Deishin Lee and Ruby Lin, Policy-Driven Innovation in Reverse Supply Chains for Post-Consumer Plastic in Packaging and Electronic Waste, August 27, 2021, 30 – read section 4 “EPR” pages 12 -16 (Optional) Skim through: Gjoka, K., (2024). Extended Producer Responsibility (EPR): A Practical Guide for Businesses. Available at https://www.eeas.europa.eu/sites/default/files/2026/documents/Guide%20English_EPR%20Law_0.pdf Read and prepare: Jury Gualandris, Deishin Lee and Cole Beattie, HP Canada Co.: A Circular Supply Chain for Recycled Plastic. Please consider the following guiding questions: 1. Draw the process flow diagram of Hp Supply Chain What are the key differences between forward processes and reverse processes in a circular supply chain?   2. Will the circular SC remain viable if the price of virgin plastic remains low?   3. Building on the proceeding analysis, what can be done to improve the competitiveness of the circular SC?   CLASS 10— Review your notes from CLASS 9 and be ready to deepen the analysis of the same HP Canada case discussed during it.

Up to this point in this course, we have examined the types, sources, drivers, and consequences of waste. We have also explored diverse circular strategies to redesign products, operational processes, and business models to reduce harm while creating economic value. In this session, we will examine the most transformational and impactful circular strategy of all: industrial ecology (also called “Circular Value Recovery”). First, we will be introduced to important concepts from the natural sciences and we will reflect on how such concepts can inform the development of new business practices and solutions that positively contribute to society and the natural environment, rather than merely ‘minimizing harm’.  CLASS 11— Prepare the following materials: Read: Gualandris, J., Branzei, O., Wilhelm, M., Lazzarini, S., Linnenluecke, M., Hamann, R., Dooley, K., Barnett, M., Chen, C-M. (2024) “Unchaining supply chains: transformative leaps to regenerating socio-ecological systems”. Journal of Supply Chain Management (Optional) Skim through: EARA. (2025). Farmer-led research on Europe’s full productivity. European Alliance for Regenerative Agriculture. https://eara.farm/wp-content/uploads/EARA_Farmer-led-Research-on-Europes-Full-Productivity_2025_06_03.pdf Deloitte. (2025). The hidden bill: An analysis of the societal costs of Dutch agriculture today versus alternative systems. https://grondbeginsel.nl/wp-content/uploads/2025/11/20251016-The-Hidden-Bill-final.pdf Prepare: Deishin Lee and Stephanie Sice, Polyface: The Farm of Many Faces. As you read, please consider the following questions: 1. What would the process flow diagram of operations at the traditional industrial model look like? 2. What does the process flow diagram for Polyface Farm’s beef production look like? 3. What is the most efficient operational system, the traditional industrial system or Polyface? 4. What are the key values and principles that characterize the mindset upon which industrial systems are built? What mindset characterizes regenerative systems like Polyface? CLASS 12— Review your notes from CLASS 11 and be ready to deepen the analysis of the same PolyFace case discussed during it.

During this week we will deepen our understanding of the type of supply chains that enable and expand the positive impacts generated by regenerative organizations: CLASS 13—Prepare the following materials: Read: Gualandris, J., Lazzarini, S., Wilhelm, M., Barnett, M., Hamann, R., Branzei, O., Dooley, K., Chen, C-M., Linnenluecke, M., (2026) “Organizing regenerative supply chains: How to collectively synergize with social-ecological systems”. Journal of Supply Chain Management Skim through: “BioHubs: A Pathway to Regional Resilience”. Available here. Prepare: Natura and the development of a sustainable supply chain in the Amazon region (A). Available here. How would you characterize how Natura creates value in the cosmetics markets and how its process of value creation is supported by its operations in the Amazon rainforest? Think of some stakeholders relevant to Natura’s operations in the Amazon rainforest and how they are important to the company’s value creation (e.g., suppliers of biodiversity products, customers of cosmetic products, the local government, local groups such as FASE, Natura’s shareholders). Each stakeholder might demand different things from the company. Are there potential conflicts between the above stakeholders? Can Natura meet all those demands and still be competitive in the marketplace? How? CLASS 14— prepare the following case: Prepare: Shi, E., Montgomery, W., Gualandris., J. (2024) “Charting a New Future for London Food Co-op.” Ivey Publishing. Product Number: W34527. When reading the case, consider the following questions: What makes the London Food Co-op different from other grocery stores? What are the advantages and disadvantages of the co-operative business model? What factors might be causing the Co-op’s sales to be falling? Who is the Co-op’s target market? How can the Co-op reach more of these consumers? How can the Co-op incentivize more shoppers to become members? How can the Co-op incentivize members to buy more at the Co-op?

Prior to concluding the course, it is important to examine a crucial aspect of circularity: measuring its rate and its impact. In the past sessions, we have praised circular strategies for their positive ecological performance. Yet, recent research indicates that not all circular products, processes and business models do deliver positive ecological value. Hence, it is essential to learn how businesses can assess and report on the outcomes of their circularity efforts, so that such efforts can truly help to address climate change. CLASS 15— Prepare the following materials: Read: WBCSD Circular Transition Indicators v.4.0 and focus on the calculation of inflow and outflow circularity rates. After reading it, consider a firm or industrial plant you are familiar with, and reflect upon these questions: 1. How would approach measuring the circularity rate of this business unit? 2. What data would you need and who should be involved? 3. What information and insights would you hope to derive from such analysis? CLASS 16— prepare the following materials: Read: Gualandris, J., Klassen, R., Vachon, S., Kalchschmidt, M., 2015. “Sustainable Evaluation and Verification in Supply Chains: Aligning and Leveraging Accountability to Stakeholders”. Journal of Operations Management, 38, 1-13. (focus on pages 4-9) Prepare: Robert G. Eccles, George Serafeim and James Heffernan, Natura Cosméticos, S.A., (Boston, MA: Harvard Business School, 2011), 24. 412-052). Please read the case "Natura Cosméticos" and consider the following questions:   What are the key values and principles characterizing Natura Cosméticos’ business mindsets (also referred to as “beliefs system”)?   How do these values and principles inform the development of integrated reporting at Natura?   How does Natura Cosméticos decide on the optimal set of performance outcomes and metrics to assess, verify and disclose in its integrated reporting?    Based on your understanding of circularity and emergent circularity metrics, what recommendations would you offer to Natura’s top management to improve their integrated reporting?   More recent Financial and non-financial reports by Natura & Co are available here.

During this week we will expand our understanding of measuring and reporting by acquiring foundational skills in Life Cycle Assessment: CLASS 17— prepare the following materials: Read “Understanding Environmental Life Cycle Assessment (LCA) for Business Decision-Making”. Available here. Prepare this case: Gualandris, J., Naoum-Sawaya, J., Sourabh., J. “Circulr: Creating Sustainable Value from an Empty Jar.” Ivey Publishing. Prepare the following questions: 1. What products and businesses do Circulr compete against?  2. How would you set up a life cycle assessment to quantify the carbon performance of Circulr? 3. What functional unit and what system boundaries would you consider?  CLASS 18— Review your notes from CLASS 17 and deepen your analysis of CIrculaR LCA impacts.

During sessions 19 and 20, we will review the content of the entire course, and will focus on key managerial principles, frameworks, and tools that can help students to embed circularity in their future business!

Potential guest speakers about circularity and regeneration: Top Management of Technica: lessons from their circularity journey (Lecture 21) Leading voices from the European Regenerative movement: European Association of Regenerative Agriculture, and Re-Source (Lecture 22)

It is time to show your learnings and analysis of a firm of your choice! During Lecture 23 and 24, each group presents for 10 minutes, plus 5 minutes Q&A. 12 groups total (in numerical order).