Abstract

Transforming from linear to circular economy is the need of the hour. The relevance of circular economy to environmental sustainability and business profitability by transforming the relationships between ecological systems and economic activities has drawn considerable

The CE based on the 3R approach of “reduce-reuse-recycle” proposes to reduce the environmental risks, and at the same time, promote economic growth through development of new business models. The circular economy with the 3R approach aims to build a sustainable ecosystem that suitably intends to replace the linear economy of “take-make-dispose” system. The purpose of this paper is to present the importance of the circular economy in the present scenario and evaluate the strategy adopted by Nike to pioneer the cause of shifting from linear economy to circular economy through reduction and recirculation of resources. The present study attempts to make a critical analysis on the business strategies adopted by Nike to promote its sustainable campaign of protecting the environment on one hand and accelerating sustainable growth on the other. The study further intends to focus on the possibility of adhering to a policy of people, planet and profits by the corporate world to foster sustainable development. 

Learning Objectives 

• To understand relevance of the circular economy in today’s business world.
• To understand the importance of waste management for achieving both sustainability and resilience.
• To study the major steps taken by NIKE to reduce its environmental footprint.
• To explore the possibility of achieving Nike’s vision 2025.