For thousands of years, and especially since the Industrial Revolution, the global economy has been developing according to a linear model of progress. But such “take-make-waste” methods of production and consumption are no longer feasible, with the world’s population growing exponentially and natural resources becoming increasingly constrained.
The new alternative is making the transition to a circular economy. In this regenerative system, economic growth is decoupled from the one-time use of natural resources – for example, by relying on renewable energy and by minimizing waste. As a leader in CSR and innovation, Philips Lighting is looking to implement circular-economy insights throughout its businesses.
In this Light Bite you will see how we have created a unique value proposition through an innovative business model: “Light as a Service”. Under this new paradigm, clients do not purchase any hardware; they buy a given amount and quality of illumination, while individual products can be returned to the manufacturer for refurbishment, parts harvesting or recycling.
Sign up for this Light Bite with Nick Kelso, and learn how Philips Lighting, through innovative business models such as Light as a Service, is rethinking the future and inspiring others to do the same.