The
World Economic Forum (WEF) annual meeting has been providing opportunity to leaders
from diverse fields and areas of the world, to address global concerns and take
necessary actions to address those challenges. This year's meeting Davos 2007
focused on the framework to shape the global agenda and identify effective
responses. The world business is growing, boosted by the robust changes taking
place in most regions and profits are up for many. Especially, the BRIC economic
block is leading the global economic growth, despite rising commodity prices.
Against this backdrop, a new generation of leaders across the globe are applying
new business models based on a pervasive commitment to innovation as their single
most important strategic focus.
The
annual meeting at Davos, Switzerland, discussed the concern, whether today's global
environment can sustain such kind of development. It outlined that the global
economy is witnessing `the changing power equation, driven by resource competition
and the rise of new economic powers, bringing many unknowns. This translates into
a sharpened unease about economic imbalances, job insecurity and migration, which
are feeding a new form of backlash to globalization.' On the other hand, energy
security and increasing tension and political leverage, as well as public concern
about climate change has increased phenomenally. To adjust to these developments,
both political and business leaders across the globe are adjusting their strategies
rapidly in response to the rising economic and geopolitical influence of emerging
markets, in particular China. Unlike in the past, they must manage more risk factors
on a continuous basis. |
