Our current way of doing business is largely based on a linear model: products are manufactured, sold and disposed of - the consumption of resources increases, while the value of a product decreases rapidly after it is sold. For small and medium-sized enterprises (SMEs), this often means that there is little incentive for durable, repairable or reusable products.

This is precisely where the Circular Economy Compass project comes in: The aim is to develop a user-friendly online self-assessment that helps SMEs to recognise their position in the circular economy, identify specific areas for action and implement targeted measures for improvement.

The tool is based on a scientifically sound evaluation system and enables companies to determine their ‘circular economy readiness’ with minimal effort. Interactive questions and automatic evaluation are used to create an individual circularity score - presented in a clear scorecard with graphics and text. The tool is supplemented by practical examples and customised recommendations for action along the entire product life cycle.

The compass ‘translates’ the often abstract topic of the circular economy into comprehensible operational logic and vividly conveys the benefits of circular business models - not only in terms of environmental and climate protection, but also as an economic opportunity.

The tool is being developed together with experts from business, science and society using the design science approach. The focus is on the particular challenge of combining the complexity of the topic with the necessary simplicity and relevance for SMEs.

The Circular Economy Compass is the first practical tool in Austria that helps companies to systematically approach circular value creation in a way that conserves resources, is innovative and competitive.

The tool can be accessed directly via the following link:
https://kompasskreislaufwirtschaft.at, opens an external URL in a new window


Duration: 01.12.2023-31.11.2024

Funding Agency: Austrian Research Promotion Agency (FFG)

Partner:

  • Vienna University of Technology, Institute of Management Sciences, Human-Machine Interaction Research Group
    https://www.tuwien.at/mwbw/im/mmi
  • Resource Forum Austria
  • Forum Circular Economy Austria


Contact: Stefanie Eisl 
E-Mail: stefanie.eisl@tuwien.ac.at