“Over the last three years, the world has been engulfed by political, economic and, particularly, financial crisis management. We have lost sight of the fundamental transformation that the world is undergoing and of where conventional modes of decision-making have become outdated “, World Economic Forum founder Professor Klaus Schwab wrote recently. “What we clearly need are new models for global, regional, national and business decision-making which truly reflect that the context for decision-making has been altered – in unprecedented ways.”
Within this context the upcoming meeting World Economic Forum (Davos, Switzerland; January 25-29) "returns to its core purpose" of defining what the future should look like, aligning stakeholders around that vision and inspiring their institutions to realize that vision. It will focus on shaping new models organized around four key themes:
Growth and Employment Models
The policy prescriptions, industry models and performance incentives that emerged from an era of consumption and debt-driven growth must be transformed to deliver quality growth. Growth that is sustainable, entrepreneur-driven and employment-creating should be the outcome of the rebalancing and deleveraging of the global economy. As traditional work opportunities decline as a result of production increasingly based on knowledge and ingenuity, individual entrepreneurship will become a critical factor for future job and growth creation.
Leadership and Innovation Models
The leading countries and global governance institutions of the Cold War era must create space for major emerging economies, private sector institutions and multi-stakeholder partnerships. These new actors should have the responsibility not only to address important global and regional challenges but also to introduce innovative solutions. The future will also show that younger and older generations will play a greater role compared to today. Thus, the rebirth of intergenerational responsibility must be embedded in leaders to avoid a future demographic divide.
Sustainability and Resource Models
The realization that human activities have a major impact on Earth’s ecosystem must drive future changes in behavior and policies. Our ecological footprint will have to be fully internalized in business models. A new mindset should drive collaboration and innovation among governments, industries and companies to ensure that future resource constraints do not lead to greater energy, food and water insecurity.
Social and Technological Models
The next wave of technological innovation, particularly in life sciences, nanotechnology and artificial intelligence, will not just deliver productivity gains but will also transform us by adding new dimensions to our lives. At a societal level, the norms, behaviors and values that are protected and celebrated in the physical world are neither clearly established nor firmly anchored in the digital world. As the “Internet of things” that connects billions of sensors and devices becomes a reality, stakeholders should work together to safeguard the knowledge, data and networks that are critical resources for our future development.
With so many of the world’s glitterati assembled in the spectacular mountain resort it will be interesting to see whether any discernable new thought- and action-leadership emerges or whether it’s just a super networking event for the rich and famous.
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