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January 24, 2014

World Economic Forum Annual Meeting 2014: Business Leaders Urge Policy Changes to Restore Trust

World Economic Forum, Global Giants

Photo: The logo of the Annual Meeting 2014 of the World Economic Forum is seen at the congress centre in Davos, January 20, 2014. The Annual Meeting 2014 of the World Economic Forum is taking place from January 22 to 25, 2014. Photo © Moritz Hager/World Economic Forum.

World Economic Forum, Global Giants

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Photo: Aerial view of the congress center of Davos/Switzerland where the World Economic Forum Annual Meeting 2014 is taking place, January 22 - 25, 2014. (Archive photo from 2012). Photo © Andy Mettler/World Economic Forum.

World Economic Forum, Global Giants

Photo: Queen Mathilde of Belgium is seen in the audience of the session ‘Is Europe Back?’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 22, 2014. Photo © Remy Steinegger/World Economic Forum.

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Photo: Participants are captured in the congress centre during the World Economic Forum in Davos, January 22, 2014. Photo © Urs Jaudas/World Economic Forum.

World Economic Forum, Global Giants

Photo: Angelica Fuentes, Chief Executive Officer, Omnilife-Angelissima-Chivas Group, Mexico; Global Agenda Council on Women’s Empowerment, makes a point during the session ‘Making Gains on Gender Goals’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 22, 2014. Photo © Christof Sonderegger/World Economic Forum.

World Economic Forum, Global Giants

Photo: Rola A. Dashti, Minister of Planning and Development and Minister of State for National Assembly Affairs of Kuwait (2012-2014) listens to the statement of another participant during the session ‘The Arab World Context’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 22, 2014. Photo © Michael Buholzer/World Economic Forum.

World Economic Forum, Global Giants

Photo: Anat Admati, George G. C. Parker Professor of Finance and Economics, Stanford Graduate School of Business, USA; Global Agenda Council on New Economic Thinking, is seen during the session ‘Forum Debate: Are Markets Safer Now?’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 22, 2014. Photo © Jolanda Flubacher/World Economic Forum.

World Economic Forum, Global Giants

Photo: Shinzo Abe, Prime Minister of Japan talks to the audience during the session ‘The Reshaping of the World: Vision from Japan’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 22, 2014. Photo © Moritz Hager/World Economic Forum.

World Economic Forum, Global Giants

Photo: Kamal Nath, Minister of Urban Development and Minister of Parliamentary Affairs of India speaks during the session ‘The Infrastructure Imperative’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 23, 2014. Photo © Remy Steinegger/World Economic Forum.

World Economic Forum, Global Giants

Photo: Espen Barth Eide, Managing Director and Member of the Managing Board, World Economic Forum, listens to the speech of Benjamin Netanyahu during the plenary session ‘Israel’s Economic and Political Outlook’ at the Annual Meeting 2014 of the World Economic Forum at the Congress Centre in Davos, January 23, 2014. Photo © Jolanda Flubacher/World Economic Forum.

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Photo: Members discuss during the arrival day of the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 21, 2014. Photo © Moritz Hager/World Economic Forum.

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Photo: Tea Tasting. Feature of the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 22, 2014. Photo © Moritz Hager/World Economic Forum.

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Photo: A participant of in the audience speaks into the microphone during the open forum ‘Higher Education - Investment or Waste?’ at the Annual Meeting 2014 of the World Economic Forum at the Swiss Alpine School (SAMD) in Davos, January 22, 2014. Photo © Christof Sonderegger/World Economic Forum.

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Photo: Glenn H. Hutchins, Co-Founder, Silver Lake, USA, listens during the session ‘Securing US Competitiveness’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 24, 2014. Photo © Moritz Hage/World Economic Forum.

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Photo: Andrew R. Sorkin, Columnist, The New York Times, USA, Young Global Leader Alumnus, moderates the session ‘Securing US Competitiveness’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 24, 2014. Photo © Moritz Hage/World Economic Forum.

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Photo: David Cameron, Prime Minister of the United Kingdom, addresses the participants during the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 24, 2014. Photo © Urs Jaudas/World Economic Forum.

World Economic Forum, Global Giants

Photo: Richard J. Davidson, William James and Vilas Research Professor of Psychology and Psychiatry, Center for Investigating Healthy Minds, Waisman Center, University of Wisconsin, Madison, USA, is captured during the dinner session ‘The Neuroscience of Leadership’ at the Annual Meeting 2014 of the World Economic Forum at the Hotel Meierhof in Davos, January 22, 2014. Photo © Jolanda Flubacher/World Economic Forum.

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Photo: Alex Edmans, Professor of Finance, London Business School, United Kingdom, makes a point during the session ‘Making Better Decisions’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 23, 2014. Photo © Christof Sonderegger/World Economic Forum.

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Photo: Eldar Shafir, William Stewart Tod Professor of Psychology and Public Affairs, Princeton University, USA, during the session ‘Making Better Decisions’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 23, 2014. Photo © Christof Sonderegger/World Economic Forum.

World Economic Forum, Global Giants

Photo: Marissa Mayer, Chief Executive Officer, Yahoo, USA, Co-Chair of the World Economic Forum Annual Meeting 2014, Young Global Leader, speaks during the session ‘Collaborate to Innovate’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 24, 2014. Photo © Moritz Hager/World Economic Forum.

World Economic Forum, Global Giants

Photo: Caroline Ghosn, Founder and Chief Executive Officer, Levo, USA, Global Shaper, is seen during the workshop ‘Learning from Leading Cities’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 23, 2014. Photo © Jolanda Flubacher/World Economic Forum.

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Photo: Neil Gershenfeld, Director, The Center for Bits and Atoms, Massachusetts Institute of Technology (MIT), USA, gestures while speaking during the session ‘From Waste to Wealth’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 25, 2014. Photo © Remy Steinegger/World Economic Forum.

World Economic Forum, Global Giants

Photo: Sheryl Sandberg, Chief Operating Officer and Member of the Board, Facebook, USA, Young Global Leader Alumnus, gestures while speaking during the session ‘Gender-driven Growth’ at the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 25, 2014. Photo © Remy Steinegger/World Economic Forum.

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Photo: View to Davos at the last day of the Annual Meeting 2014 of the World Economic Forum at the congress centre in Davos, January 25, 2014. Photo © Urs Jaudas/World Economic Forum.

Business leaders gathered in Davos for the 44th World Economic Forum Annual Meeting called for government policy changes to restore trust between governments, business, and civil society.

The Annual Meeting is taking place from 22 to 25 January under the theme The reshaping of the World: Consequences for Society, Politics and Business. Participating this year are more than 2,500 participants from 100 countries, including 300 public figures, 1,500 business leaders and representatives from civil society, academia, the media and the arts.

“We must change the dialogue from what we do with the money we make to how we make the money,” Indra Nooyi, Chairman and Chief Executive Officer, PepsiCo, USA, said. “There is an ethical way to run a company and be profitable.” Companies should select board members that understand the importance of sustainable growth, and chief executive officers (CEOs) should inculcate long-term vision in the rising generation of corporate leaders, so policy changes last beyond a single CEO’s tenure. Companies should hire and source locally to encourage job creation and build a larger consumer market.

The business leaders called for corporations to use their influence on business schools to shift business education away from its emphasis on short-term profits. Business schools should teach case studies of companies such as Kodak and Enron that collapsed because of their failures to invest in the long term or manage their businesses ethically. CEOs must remember that short-term investors may be well-organized and vocal, but they do not represent the companies’ true stakeholders. “Many shareholders depend on a company’s long-term performance,” Nooyi said.

The Co-Chairs of the Annual Meeting 2014 are:

Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria;

Kris Gopalakrishnan, President, Confederation of Indian Industry (CII); Vice-Chairman, Infosys, India;

Jiang Jianqing, Chairman of the Board, Industrial and Commercial Bank of China, People’s Republic of China;

Joseph Jimenez, Chief Executive Officer, Novartis, Switzerland;

Christophe de Margerie, Chairman and Chief Executive Officer, Total, France;

Marissa Mayer, Chief Executive Officer, Yahoo, USA, and

Judith Rodin, President, Rockefeller Foundation, USA.

|GlobalGiants.Com|


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Posted by Editors at January 24, 2014 8:36 AM | Link to this Post

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