Feature of Month: Highlights on the Natural Resources Industry
The natural resources industry is not necessarily one of the most discussed industries in the news, but its role in business, economics, and geopolitics over the history of thousands of years cannot be overlooked. In today’s business world, the race to find new resource-rich areas is extremely competitive, and countries that possess these areas have a huge advantage in the global economy.
The most discussed sectors of the natural resource industry are those related to the energy industry, such as the oil, natural gas, and coal sectors. Worldwide energy consumption has risen 118% in the last 40 years, and with the substantial increase, have come concerns of when these resources will run out. The increase in consumption has forced these energy-related businesses to spend billions of dollars each year on research and exploration, and has led many researchers to look into alternative energy possibilities.
Another important sector of the resource industry is the mineral and metals industry. For example, the advent of computers and electronics has created huge demand for rare earth elements, and mining them has become very profitable. China is the world leader in mining these elements, accounting for 85% of the world’s supply, and this dominance has greatly benefited the country’s economy and technological companies.
The natural resources industry encompasses many different sectors, from oil and gas to fishing and timber. To read more about the various sectors, check out our Industry Pages!
Featured Resources
International Council on Mining & Metals (ICMM)
This is the official website of the International Council on Mining and Metals (ICMM), an organization that covers 21 mining and metal companies, and 35 national, regional, and global mining and commodity associations. Its purpose is to enhance performance within mining companies and contribute toward sustainable development by working in different work programs involving multiple projects. The website also includes news on the organization as well as upcoming events and publications.
Categories: Mining, Minerals, Metals
International Energy Agency (IEA)
The International Energy Agency (IEA) focuses on assuring reliable, affordable, and clean energy around the world through proper policy development and regulation. This site features energy statistics worldwide through publications and papers, newsletters, events, and workshops. IEA also publishes the World Energy Outlook, an annual flagship publication that is available in a variety of languages. Most publications and papers require paid subscriptions or pay-per-article; however, universities and developing country clients receive a discount.
Categories: Energy, Organizations
Featured Academy
gE Module: Key Industry Drivers of Globalization
The Key Industry Drivers of Globalization module provides a general understanding of issues including: the historical circumstances and the forces that currently drive globalization; regional trade agreements impacting globalization; the implication of globalization on business in the U.S.; the key drivers for a successful global strategy; and the four basic forces that drive globalization.
gE Module: Doing Business in Russia
Doing Business in Russia offers a general overview of the conditions for doing business in Russia today. It includes sections covering Russian social and business cultures, marketing distribution and sales channels in Russia, and supply chain management, as well as information on the costs of doing business in Russia and issues currently facing the country. This module also includes a case study on Russia’s Information and Communication Technology Infrastructure.
globalEDGE Business Beat
Robert Wiseman
Tomas Hult speaks with Robert Wiseman, recently appointed as the Senior Associate Dean in the Eli Broad College of Business at Michigan State University. Wiseman is also The Eli Broad Legacy Fellow in Management. The interview focused on Wiseman’s background in academe and business and his interest in serving in this important leadership role for the Broad College. They also discuss the role of online education in business schools of the future.
David Frayer
Tomas Hult speaks with David Frayer, Executive Director of Executive Development in the Eli Broad College of Business, Michigan State University. The interview focused on Dr. Frayer’s 20 years as the leader of Executive Training in Business at Michigan State University, what changes he has seen in executive education in that time period; why it is important for business people to engage in executive training and development, and some of the current global initiatives that executive education at MSU are undertaking.
