Glossary:
43. Circular Business Strategies and Innovation
| Term | Definition |
|---|---|
Achievement | An achievement is something very good and difficult that one has achieved with a lot of effort or against a lot of resistance. |
Adaptability | Adaptability is the ability to adapt effectively to new situations, challenges, information and environments. In psychology, adaptability is a key aspect of resilience: people with high adaptability are flexible and open-minded. They have good problem-solving skills, can deal well with uncertain situations and actively seek out new knowledge, skills and experiences that help them to grow and expand their abilities. |
Beliefs | A belief is a conviction held by an individual about themselves, the world around them and their own place in it. These beliefs manifest themselves as mental representations that significantly influence the individual's perception, thoughts, feelings and actions. The genesis of beliefs can be based on personal experiences, cultural influences or religious teachings, for example. |
Circular | In the context of economics, circular production processes are defined as those based on the reuse and regeneration of materials or products, particularly as a means of continuing production in a sustainable or environmentally friendly manner. |
Communication | Communication refers to mutual understanding, i.e. the exchange between people using languages (verbal communication) or signs and gestures (non-verbal communication). |
Creativity | Creativity refers to the ability and the act of developing new and original ideas and solutions. |
Diversity | Diversity refers to the diversity of personnel in companies. This diversity manifests itself in different characteristics such as gender, age, education or other attributes. The cooperation of employees who differ in terms of these characteristics is referred to as diversity. |
Innovation | Innovation is the creation and implementation of new things, such as the creation of new products or the improvement of existing products, the development of new production and manufacturing processes or the introduction of new organisational and management methods, as well as the development of new customer groups and sales markets. Innovation can therefore also be understood as applied creativity. |
Productivity | Productivity is an economic indicator. It is defined as the ratio of output to input. In other words, the relationship between what is produced and the resources used for the production process. The more productive a process is, the less input (e.g. time, capital or resources) is required to achieve the same result or output. |
Resilience | Resilience describes the degree of resistance of a system or a person. A high level of resilience means being able to quickly cope with external disruptions and quickly return to the initial state. In psychology, resilient people are characterised by their ability to maintain a sense of well-being and function effectively even in stressful situations. |
