Wednesday, February 21

Thomas Michael Hogg: News from Davos

At the end of January, the World Economic Forum concluded its “Davos Agenda” with the participation of heads of state and government, CEOs and other global leaders who met virtually to propose solutions to current global challenges. The 45,000 mentions in global media shows the importance and scope of dictating the agendas of decision makers in the world. The four main themes that dominated the sessions were: “Technological Cooperation in the Fourth Industrial Revolution”, “Renewing the Global Social Contract”, “Accelerating Climate Innovation” and “Vaccine Equity”. Klaus Schwaab emphasized the growing complexity, from disruptions in global value chains to tectonic shifts in labor markets and worrying inflation figures. 2022 is a crucial year to work together, rebuild trust and shape a better and more inclusive future for all. Experts at the panel on the future of COVID-19 were cautious that the end of the pandemic is in sight and the president of the People’s Republic of China called for countries to continue working together to close the global immunization gap.

On the other hand, Christine Lagarde concluded that the recovery has been “stronger than expected” and Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), added that the response to the pandemic crisis has been coordinated among central banks such as financial authorities to avoid another great depression, the voice of the UN Secretary General, Antonio Guterres highlighted by saying that “we need to reform the global financial system so that it can work for all countries” due to the fact of an increasingly uneven recovery. With 3 billion people around the world still digitally disconnected, the pandemic has also exposed digital inequality and gaps in digital access that still exist, according to a report by the World Economic Forum and BCG.

Olaf Scholz, Germany’s new federal chancellor, laid the groundwork for an ambitious new approach to climate policy, saying: “We will no longer wait for the slower and less ambitious. We will turn climate from a cost factor into a competitive advantage.” A very moving moment was the German astronaut’s request for climate collaboration Matthew Maurer, who joined “The Davos Agenda 2022″ live from the International Space Station, which was established 21 years ago and where different nations live together in a global collaboration with different cultures and different languages. “International collaboration works. We are a team and we must all work together to face the challenges of our days, such as climate change.” John Kerry Y Bill Gates they were optimistic about the potential of green technologies, and advocated ensuring the necessary funding to support innovation. The President of the European Commission, Ursula von der Leyen, announced a new European Chip Law in his special speech at the event, explaining: “The European need for chips will double in the next decade. This is why we need to radically up Europe’s game in the development, production and use of this key technology.”

In an increasingly extreme and complex world, decision makers must look ahead and create conditions that really have a favorable impact. In the process of recovering from both economic and social COVID-19, there is a great opportunity and a high risk of not strategically and correctly configuring economies towards conscious and digital economies. Industries will be reconfigured by digitization and technologies, both for improved efficiency and sustainable development.

We need to equip organizations and employees for this transformation to be enhanced through comprehensive competencies, coordinated governance, and a culture that upholds ethics. The substance and forms of planning, collaboration and management depend to a great extent on the objectives of economies, countries and companies. Hopefully we will see more and more initiatives that really achieve holistic impacts at a social and ecological level where the economic factor makes sense.

In my opinion, free enterprise is crucial. Companies and ventures that manage to have an inclusive, moral, green, digital value proposition and profitable growth will have a very promising future. Contemplating the current strong challenges, I believe that having a new narrative and renewed hope is the key for the productive projects of the future to lead us to a balanced future, or at least as balanced as possible. Consciousness and wisdom are two central assets to achieve it. Many times our biggest limitation is ourselves. We are what we think, we are what we read, and by the way, we are what we care about, to quote one of my favorite professors from the UC Berkeley Haas School of Business: “You are what you worry about. We are what we worry about”.

We must question our own circle of action and impact every year, every month and every week. Very important to get together with people who really care about the good and common sense, having a commitment to the next generations. At a business level it is the same, I hope there are more and more traditional companies that really begin to question and improve their destiny towards circular, agile and successful companies at the same time.