What economy do we need?
And what kind of leadership does this economy require? In times of rapid change, rising inequalities and climate crisis, trust is at a breaking point. So how can we reverse the world’s trust deficit disorder?
Insights from Davos
During an evening session, hosted by the Executive MBA in Innovation & Business Creation on February 13, a diverse crowd of inspiring people came together to discuss those questions. Dr. Sebastian Buckup opened the event with a keynote speech. He shared insights from his role as a Member of the Executive Committee and Head of Programming at the World Economic Forum.
In the light of failure of both shareholder capitalism as well as state capitalism, Dr. Sebastian Buckup pointed towards the need for a stakeholder economy – an economy, where power and decision-making are distributed, social mobility and cohesion are high, and planetary boundaries are managed properly. The 2020 Davos Manifesto of the World Economic Forum reflects this call for a stakeholder economy to rebuild trust in the economic system.
Challenging the status quo
3 weeks after the 50th Annual Meeting in Davos, where world leaders came together, it was now EMBA students, alumni and selected guests who dared to challenge the status quo. In groups of 10-12 people they discussed over dinner how they themselves might become agents of trust in order to make the transition to a new economy. They also identified major challenges in shifting the focus of what we value as a society and how we measure what we value.
After intense discussions, the evening ended with some open questions and many new connections – and a lot of food for thought to digest. At least for our EMBA students the discussions on which kind of leadership we need for a cohesive and sustainable world continue over the course of their module on Leadership & Cooperation.