In the Media we are currently getting news about the World Economic Forum Annual Meeting in Davos, Switzerland. As we all have the possibility to get information what politicians, business leaders and academics discuss this year, I decided to have another view and so I will talk about the organization.
The European Management Forum (since 1987 The World Economic Forum) was founded as a non-profit organization in 1971 by Klaus Schwaab to help the world with its influence on politicians and businesses in getting agendas for certain economic goals. Initially it only invited CEOs of major European companies but already in 1974 the large connections between politics and business were seen which lead to the further invitation of important European politicians to the conference. Moreover the Davos conference shouldn’t be the only event so various “Roundtables” in different European countries were introduced which coped with various topics on business, politics and regions. Nowadays those “Roundtables” and especially Industry specific events are still expanding.
Since the aim was to get a global conference milestones as for example the first non-European participants (Mexico) in 1975, the Arab-European Business Symposium in 1976, the first meeting in China in 1981 and finally the first US participation in 1983.
Since 1997 the mission statement underlines the purpose of the World Economic Forum. It is “Committed to Improving the State of the World” and the “Schwaab Foundation for Social Entrepreneurship” shows that this commitment is actively approached by Klaus Schwaab and his wife Hilde Schwaab. To learn more about details of this fascinating topic I can recommend their interactive history tool.
PS: In a former article I described the adaptation of McDonalds to International Flavours. As I got to know yesterday they are thinking about changing their name at selected stores to “Macca’s” in Australia. As officials say, this new name will show the pride of McDonalds of being part of the Australian community. Well I am wondering if this name change will expand to other countries – I am for “Meckes” in Germany, which is an often used abbreviation here.