Natural resources are a key factor of production within the global economy. Historically, economic wealth was largely determined by the ability to acquire, commodify and commercialise the available natural resources. In contrast, the modern economic system generates the majority of its value by providing services to businesses, consumers and other economic agents in what has been termed as the servicification of global value chains.
Consumers and businesses no longer seek just products/services but value which relates to questions of their needs and the utility provided by the solutions available. Thus, industrial activity is becoming more integrated with service delivery and manufactured products are increasingly becoming infrastructure which enable service consumption. This, combined with developments in materials science and the increasing opportunity of small scale manufacturing and construction, means that traditional industry value chains need to further innovate to remain competitive with an increasingly integrated global economy.
If we include dynamics such as the increasing ecological instability, shifting labour profiles and geopolitical uncertainty, it becomes clear that a new form of thinking and approach will be required to navigate questions of resourcing, value creation and integration within this evolving landscape. AIA has the expertise to assist organisations in asking the right questions and formulating informed opinions which lead to effective decision making that drives change.