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Following the global financial crisis in 2008, policy makers, realising the need to rebalance the economy, began looking towards the manufacturing sector and industrial policy. However, the sector must overcome a number of hurdles if the rebalancing strategy is to succeed. Critically, despite success, manufacturing has a poor image among potential employees, investors, influencers, and policy makers. Research by Professor Michael Beverland (University of Bath), Beverley Nielsen (Birmingham City University) and Vicky Pryce (Centre for Economics and Business Research) argues that the key to shifting perceptions of manufacturing is to reframe the sector as part of the ‘making’ economy (which includes the creative sector, industrial design, a renewed interest in craft, 3D printing, and the manufacture of digital mobile applications, among others). Drawing from the experience of the West Midlands (the home of UK manufacturing), the authors identify that the pursuit of brand-driven value underpins the success of UK manufacturers. Pursuing brand-driven value influences choices about what, where and how to innovate (giving rise to multiple innovation pathways), draws on and contributes to complex business ecosystems, and is part of a strategy to shape or take control over the business environment.
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