The World Economic Forum (WEF) president and CEO, Borge Brende, emphasized the importance of adapting to global volatility and complex risks during the opening of the 55th WEF Annual Meeting in Davos, Switzerland. The event, with the theme "Collaboration for the Intelligent Age," focuses on tackling challenges through cooperation.
Brende referred to a report titled "The Resilience Pulse Check: Harnessing Collaboration," co-authored by WEF and McKinsey & Company, which stresses the need for organizations to build resilience. As geopolitical and economic challenges grow, leaders must continuously adjust their strategies to navigate these dynamics. The report highlights collaboration in areas such as sustainable investment, workforce preparedness, and macroeconomic stability as essential for thriving in today’s volatile world.
While organizations focus on immediate risks, long-term resilience often takes a back seat, creating a gap that can be addressed through collaboration between the public sector and international organizations. This collective effort is crucial to strengthening long-term strategies.
Bob Sternfels of McKinsey & Company noted that resilient strategies need both defensive and proactive measures. IMF's Kristalina Georgieva added that organizations must expect the unexpected and adopt a strategic, integrated approach to resilience. Furthermore, rising trade tensions between the US and China have led many companies to reassess and diversify their supply chains to reduce exposure to uncertainties.
