28 January 2010 marked day 2 of the World economic forum 2010 in Davos. The day started with leadership attributes as to reading the minds of the leaders. The main session was regarding rebuilding the trust in business leadership as the economy is on the recovery path.
The key points in this session were to reflect the importance of trust in market economies. This issue was raised due to survey report which suggested that only 29% trust the information communicated by CEOs. Focus was on Short-term incentive, a system which is regarded as future strategy to pave the way for long term sustainable recovery. The next session was for Social entrepreneurs to find innovative solutions for social problems.
The focus then shifted to session for redesigning consumption patterns. Over 90% consumers opt for sustainable products. Hence the session put forth the ideas that new business models should involve fundamental changes, the need for immediate action at supply chain link and the need for transparency inside the company as well as towards the consumers.
The next session was about the global challenges which are complex and requirement multiple stakeholders. The forum idealized innovation to maintain flexible organization and explained its three dimensional approach- global, regional and industry. The next session comprised of tips on development of leadership skills. The forum put forth the idea that the good leadership development programme is one which is self directing and a lifelong development path.
The focus was then on India to meet the global expectations and to serve as a pioneer to the rest of the world by its value driven framework. The next session was about rebuilding long-term economic growth as financial crisis exposed the state of today’s capital market and its short term orientation. The forum also discussed business ethics and restoring the faith in economics.
