Chapter 2: Scarcity in the twenty-first century: how the resource nexus affects management
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We review how scarcity of natural resources has been framed over time and propose a new frame that ties the availability of source resources to the capacity of sink resources to absorb negative externalities caused by resource extraction and use alongside a techno-economic, market and socio-political dimension. This new frame builds on and further develops the emerging construct of the resource nexus, which focuses on the interdependence between natural resources, ecosystems and social systems. We then focus on the question of what this new frame means for organizations that operate within a resource nexus ‘environment’, and reinterpret the meaning of dynamism, complexity and uncertainty within a natural environment context. We end this chapter with an exploration of what this means for management and suggest that developing anti-fragility, boosting flexibility and supporting openness and collective action will become important strategic considerations for those organizations that seek to thrive in the resource nexus.

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