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Question 7 - 700-240 discussion

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What are three reasons companies are moving to a circular economy? (Choose three.)

A.

improve employee pay

Answers
A.

improve employee pay

B.

increase revenue

Answers
B.

increase revenue

C.

cut costs

Answers
C.

cut costs

D.

differentiate themselves to customers

Answers
D.

differentiate themselves to customers

E.

create better products

Answers
E.

create better products

F.

reduce outsourcing

Answers
F.

reduce outsourcing

Suggested answer: B, C, D

Explanation:

Companies are moving to a circular economy for several key reasons:

Increase Revenue: By adopting circular economy principles, companies can create new revenue streams through innovative product offerings and services. This model encourages the sale of refurbished or remanufactured products, which can attract cost-conscious customers and open new market segments.

Cut Costs: Circular economy practices often lead to significant cost savings by reducing waste and improving resource efficiency. By designing products that are easier to repair, reuse, and recycle, companies can lower production costs and minimize waste disposal expenses.

Differentiate Themselves to Customers: Companies that embrace circular economy principles can enhance their brand reputation and differentiate themselves in the marketplace. Consumers are increasingly looking for sustainable products and are more likely to support companies that demonstrate a commitment to environmental responsibility.

These reasons are supported by Cisco's sustainability initiatives which focus on promoting a circular economy, enhancing resource efficiency, and reducing waste through various programs such as the Refresh and Takeback and Reuse programs. More details can be found on Cisco's sustainability webpage and their corporate social responsibility reports.

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asked 11/10/2024
Robeena Meer
35 questions
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