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Things You Need To Know About The World Economic Forum

5 min read

 

It is this forum where a meeting is held annually and some of the most powerful group of people and leaders from the countries around the globe participate in it for the progress and development of the global economic conditions. Having a pretty clear vision, the mission of World Economic Forum is usually quoted as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.

World_Economic_Forum_headquarters_Wikipedia

The annual meeting of this forum is held in the last few days of January every year. It is this event thay is attended by over thousands of top business leaders, economists, celebrities and political leaders. Each year a distinctive theme is selected that specifies the topics of debates, discussion and brainstorming to some extent as many aspects are considered and judged form various angles in this forum. After reading all this most of the people get more curious and they want to know all the important things about WEF. So, here are some really important factors regarding the origin and functioning of this forum.

Talking about its origin

1971_Opening World Economic Forum by Klaus Schwab_Wikipedia

The World Economic Forum (WEF) was first founded in the year 1971 by a German business Professor Klaus Schwab. However, this forum was first known as ‘European Management Forum’ but as the time passed the vision of this platform got bigger and bigger, so eventually it was given the name of ‘World Economic Forum’. Many countries started recognizing and participating in this forum and then many nations started trusting WEF where many of international disputes were now being resolved. Later on, due to the eminent benefits of this platform, many countries started to take part in the annual meeting of the World Economic Forum to seek help with the issues they face regarding the condition of economy and entrepreneurship in the country.

 



 

Who are WEF’s members?

As we know it is a nonprofit organization headquartered in Switzerland. The World Economic Forum is funded by a group of over a thousand members who are basically multinational companies and global enterprises. All of these members are some of the most successful entities in their respective field. The level of their membership strongly depends on their participation in the matters of the World Economic Forum tin terms of the activities being carried out by them in different projects carried out by the affiliation of this platform and of course the frequency of funding or provided financial support.

Mindfulness of the Participants

Nelson_Mandela at Davos 1992_Wikipedia

There might be concept in people’s mind that it is an elite gathering and the attendees might not very earnest about the matters discussed which is not the fact. However, every person present at the form is very much concerned and dedicated towards finding the solutions to every problem discussed from all economic aspects to do go to the world around them. This is one of the main thing that is appreciated and praised by the business experts around the world and it is also one of the biggest factors behind the success of this forum.

WEF’s Activities

Apart from the annual meeting that takes place every year at the end of January; there are numerous other activities of this forum carried out by the global experts. Some of these activities include summer annual meeting, meetings held at regional level, gatherings of social entrepreneurs and global shapers. All of these participations and gatherings at this forum encourage young people to jump into the field of entrepreneurship and be successful plus it is also one of the most encouraging platforms in the world for the small startups and organizations involved in social welfare.

 



 

Publishing Research Reports

The platform of the World Economic Forum is also a think tank that also quite interestingly produces research reports covering various aspects and international issues. All of this work is carried out by diligent experts and veterans from different field. Each of the work produced at this forum gives an in-depth report of the subject of that particular report. The names of some of the most famous reports generated by The World Economic Forum (according to the years of their production) are: the Global Competitiveness Report (1979), the Global Information Technology Report (2001), the Global Gender Gap Report (2006), the Global Risks Report (2006), the Global Travel and Tourism Report (2007) and many the list goes on like this.

WEF is all about business not politics

Whoever attend the World Economic Forum know that everything that is being discussed or debated over here has the field of economics and business as its prime focus. Various types of matters are discussed and acknowledged on this platform where the applications of technologies at multiple aspects and stages in the field of trade and economy are also conceptualized and theorized by a large number of the global experts.

Global Events

Multiple events are carried out across the globe with the affiliation of the World Economic Forum. Most of these events are carried out with the vision of social good and economic growth, promoting the field of business in local markets in different parts of the world. One of the main concerns of almost all of the businesses around the world is the impact of the activities carried out by them to the weather and natural environment.

The gatherings that come under the category of global events by WEF turn out to be of key eminence for businesses at almost every scale. Experts are concerned about the sustainable developments in the field of business. It is the only thing that can bring prosperity in world economics. However, according to the experts, this milestone could only be achieved by entities all over the world if they pay proper attention to the climatic conditions that could occur in their surroundings by the operations carried out by them and act in a way that is fruitful for their business and environment, both at the same time. So, it can be said that platforms like the World Economic Forum have become lifeblood for the field of entrepreneurship all over the world.

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