Supplying Critical Materials in a Time of Uncertainty

Nikola Radić – Faculty of Business Economics and Entrepreneurship, Belgrade, Mitropolita Petra 8, Serbia

Vlado Radić – Faculty of Business Economics and Entrepreneurship, Belgrade, Mitropolita Petra 8, Serbia

Nenad Ravić – Faculty of Business Economics and Entrepreneurship, Belgrade, Mitropolita Petra 8, Serbia

Abstract

The high demand for energy, food, and raw materials is putting an enormous strain on ecosystems around the planet. Therefore, the indus­trial strategies of many countries rely on the so-called green plan and tran­sition toward climate neutrality. In this sense, the need for new materials greatly exceeds the existing possibilities and capacities. Critical materials are raw materials that have great economic importance and for which there is a probability of shortage. Since the world is facing more and more serious problems, whether it is an economic crisis, a pandemic, or war conflicts, the general character of the present and, one would say, future time, is uncer­tain. Prediction of uncertainty is a task that decision-makers must keep in mind when deciding on the present and the future, not only of economies but of entire ecosystems and populations as a whole. The paper shows how critical materials affect development and growth, and the fulfillment of en­vironmental requirements, using examples from various industries.

LIMEN Conference

8th International Scientific-Business Conference – LIMEN 2022 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Hybrid (EXE Budapest Center, Budapest, Hungary), December 1, 2022,

LIMEN Conference proceedings published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia

LIMEN Conference 2022 Conference proceedings: ISBN 978-86-80194-66-0, ISSN 2683-6149, DOI:  https://doi.org/10.31410/LIMEN.2022

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation

Radić, N., Radić, V., & Ravić, N. (2022). Supplying Critical Materials in a Time of Uncertainty. In V. Bevanda (Ed.), International Scientific-Business Conference – LIMEN 2022: Vol 8. Conference proceedings (pp. 315-322). Association of Economists and Managers of the Balkans.  https://doi.org/10.31410/LIMEN.2022.315

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