The annual shindig of the great and good from the corporate, banking and political worlds in Davos is always a rich hunting ground for connoisseurs of business jargon.
This year’s meeting of the World Economic Forum is no exception.
The theme of the meeting is “Shared norms for the new reality” — which translated means the world has got a lot nastier, or at least different, and how do we deal with all the new threats?
Speaking from the WEF’s Dr. Evil-style headquarters overlooking Lake Geneva, forum founder and chairman Klaus Schwab said the world was now facing “global burn-out syndrome”, whose symptoms, he told a news conference, include lethargy, withdrawal, and a tendency to be reactive and rely on firefighting rather than being proactive and thinking strategically.
The WEF’s answer to the web of 37 risks it has identified threatening the world is to launch the “global risk response network”, which will allow corporate chief risk officers to work together with government risk experts on solving the problem.
In any case, the answers will be found in the dialogue between business, governments and civil society, for which the forum can provide a conducive setting.