World Economic Forum
The World Economic Forum (WEF) is an international non-governmental and lobbying organization founded by Klaus Schwab in 1971. Initially known as the European Management Forum, it was established with the goal of improving the state of the world by engaging leaders from business, politics, academia, and other sectors of society to shape global, regional, and industry agendas.
History and Evolution
- 1971: Founded as the European Management Forum in Davos, Switzerland, focusing on European business leaders.
- 1987: Renamed to the World Economic Forum to reflect its global scope and the inclusion of participants from outside Europe.
- 1995: Introduction of the "Global Leaders for Tomorrow" initiative, which later became the "Young Global Leaders."
- 2006: Launch of the Davos Manifesto, outlining the Forum's vision for the role of businesses in society.
- 2010s: Increased focus on sustainability, the Fourth Industrial Revolution, and global health.
Annual Meeting
The WEF is best known for its annual meeting held in Davos, which attracts leaders from government, business, academia, and civil society. This event provides a platform for:
- Dialogue on global economic issues.
- Collaboration on policy frameworks.
- Launching new initiatives and partnerships.
- Highlighting emerging trends and technologies.
Key Initiatives
Structure and Governance
The WEF operates as a non-profit foundation. It is governed by a Board of Trustees, chaired by Klaus Schwab. The Forum's activities are supported by:
- Strategic Partners: Leading companies from around the world.
- Industry Partners: Companies committed to the Forum's mission.
- Members: Individuals from various sectors who participate in WEF activities.
Criticism and Controversy
The WEF has faced criticism for:
- Elitism: Critics argue that it primarily serves the interests of the global elite.
- Influence on Policy: Concerns about the extent of influence on government policies.
- Transparency: Lack of transparency in its operations and decision-making processes.
- Environmental Hypocrisy: Critics point out the environmental impact of the Davos meetings.
External Links
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