Health

Insights from the World Economic Forum Annual Meeting

World Economic Forum 2023

By Boston Consulting Group

What keeps leaders up at night? As global leaders gathered for the first January Davos since the pandemic began, there was a lot to talk about. Discussions about how to grapple with the global “polycrisis” and the scope of its impact were prevalent throughout the week. Here are some highlights:

  • Uncertainty. Despite the gloomy numbers and predictions featured in new reports this week, the mood at Davos was less dour than it was uncertain. For many leaders, it feels unclear whether the global economy will thrive or decline in 2023. The key to navigating the years ahead will be a strategy that strengthens resilience and promotes agility.
  • Action. The topic of climate and sustainability has been central to Davos discussions for many years, but this week marked a noticeable shift. Instead of the usual focus on intent, there was a significant commitment to action. There’s exciting progress toward the scaling of new, essential climate technologies, achieving Scope 3 goals, and forging partnerships, such as the First Movers Coalition and the Alliance of CEO Climate Leaders, both supported by BCG.
  • People. Talent continues to be a top concern for CEOs. As organizations pursue digital and climate transformations, leaders need a clear understanding of what capabilities they’re lacking and how to fill in the holes. This means honing methods for upskilling current employees and seeking out the right people externally. Leaders can only attract and retain the best talent if they’ve built inclusive workplaces for LGBTQI+ people, racial and ethnic minorities, and other underrepresented groups—a notion that received more attention than in years past.

These are just a few of the focus areas from a full week of lively debate and information. For more insights, see below to hear directly from experts interviewed by Edie Lush on the ground in our BCG at Davos Studio.

 

WATCH THE VIDEO: DAVOS 2023—SURPRISE, DISAPPOINTMENT, AND EXCITEMENT
https://youtu.be/abrss7X1DAs

BCG CEO Christoph Schweizer recaps his time spent at the WEF Annual Meeting—highlighting key insights as well as surprises, disappointments, and reasons to be excited for the future.

WATCH THE VIDEO: WHAT KEEPS LEADERS UP AT NIGHT?

 

 

Global uncertainty, climate commitments, and digital transformation have the attention of executives worldwide. Executives need a new playbook, says Neeraj Aggarwal, BCG’s regional chair of the Asia-Pacific region.

WATCH THE VIDEO: THE CHANGING CEO ROLE

 

 

Twenty years ago, CEOs could expect to spend about 10% to 15% of their time managing crises. That has changed drastically. BCG’s Judith K. Wallenstein talks to Andreas Berger, chief executive officer of corporate solutions at Swiss Re, about what this means for CEOs and leaders.

WATCH THE VIDEO: THE $6 TRILLION CARE ECONOMY

Caring for family members presents a lot of challenges for employees. How can businesses and governments support caregivers today and tomorrow? BCG’s regional chair of North America, Sharon Marcil, explains.

WATCH THE VIDEO: TRENDS IN GLOBAL TRADE FOR 2023

BCG’s Nikolaus Lang describes three overarching shifts in global trade—what’s driving them and what their impact will be—as we look ahead to a complex 2023.

WATCH THE VIDEO: DIVERSITY IN THE METAVERSE

essica Apotheker, BCG’s chief marketing officer, along with People of Crypto’s co-founders Simone Berry and Akbar Hamid, discuss a joint study that revealed a discouraging lack of diversity behind the scenes of Web3 creation.

 

 

About the author

Byron Adonis Mutingwende