We are 14 years into the 21st century. Forest sciences and research, a multifaceted combination of a number of academic disciplines, have existed and developed over several decades. In this note, I first discuss some current societal challenges or “drivers”, then how this relates to forestry and forest industries (the forest-based sector – FBS) as a profession and business. This is followed by a simple check to what degree we researchers (within forest economics and management planning) have dealt with these topics recently. Finally, I give some ideas for research priorities, with emphasis on the area of forest economics and management. The viewpoint is from Norway, a forest-rich country, with a fairly specialised or concentrated forest industry, currently facing large structural changes.