It takes many kinds of institutions and individuals to address our most urgent challenges. This is the idea at the heart of the World Economic Forum’s annual gathering in Davos, Switzerland. For BCG, a WEF partner, the theme of the 2020 meeting, Stakeholders for a Cohesive and Sustainable World, has particular resonance.
A central challenge for companies in the next decade will be to deliver value not just to shareholders but to all stakeholders—to generate societal as well as financial benefits. Explore below for insights into the responsibilities of business in our complex world and imperatives for leaders in the 2020s.
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Chief Client Officer & Chair, Industry Practices
Managing Director & Senior Partner
Managing Director & Senior Partner; Global Leader, Climate & Sustainability Practice
Mitigating the effects of climate change is essential, but so is providing energy for the world. Companies in the sector will have to consider these challenging issues through the widest lens possible.
Increased diversity, sustainability, and community uplift aren't just byproducts of thriving markets; they're essential ingredients, and necessary for companies to win the '20s.
The future will not be as dire as many predict—so long as we work together to meet our most pressing challenges and apply the solutions with diligence and consistency.
Becoming a Young Global Leader (YGL) means joining a diverse, influential network of individuals committed to making change happen, which depends on accountability—and the power of collaboration.
There's a big opportunity to create value for shareholders through innovations that improve our world. New companies should take stock of their Total Societal Impact to measure what matters most.
There's little doubt that an ESG approach creates value. But in order to maximize the efficacy of their ESG programs, companies must look past today's considerations and consider what will be material tomorrow.
Shifting regulation, trade agreements, and political tensions have made Eurasia a powerful testing ground for the future of geopolitics. Companies will have to learn to navigate this complexity to survive going forward.
Across industries, it is increasingly lucrative—and increasingly necessary—for companies to beat the average. But outperformance has become more difficult to sustain. Leaders must continually reinvent their companies to defy the mean and win in the new decade.
It hasn’t been easy for investors to assess a company’s ESG (environmental, social, and governance) performance. WEF and BCG are shedding light on the financial materiality of ESG factors and how those factors will evolve.
We have to point out the cost of going separate ways and see how we can emphasize and strengthen our shared goals. In an interview with the Frankfurter Allgemeine Zeitung, BCG's Rich Lesser shares his thoughts on the importance of purpose, the next generation, and how multi-stakeholder capitalism—supported by shared goals—can better society.
For the planet, the cost of not mitigating CO2 emissions...is going to cost us trillions. Michel Frédeau speaks with Cheddar about the role companies will have to play in the battle against climate change and the importance of this year's United Nations Climate Change Conference (COP26).
It is no longer possible for companies to innovate first and provide for security and privacy second. Stefan Deutscher presents the critical steps business leaders can take to enhance their company's cybersecurity in an article published collaboratively by Forbes and WEF.
Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution
In a world preoccupied by crisis management, BCG will collaborate with stakeholders at the 2019 World Economic Forum in Davos to foster solutions to the world’s most pressing issues.
Global Chair Emeritus
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Managing Director & Senior Partner
Martin Reeves looks back on Davos 2019. He recalls heavy conversations about risk and declining growth, but identifies six imperatives for action.Martin's perspective on Davos 2019
Wendy Woods has attended Davos each of the last seven years. This year she noted a shift: engagement in societal impact is growing, and not just in the social sector. CEOs share a sense of urgency to collaborate for good.Read more of Wendy's reflections
Governments who embrace disruption, enable their industry, and empower their people will be the winners of Globalization 4.0See Vincent's thoughts on Globalization 4.0
The reporting ecosystem for environmental, social and governance (ESG) data must evolve to unlock the significant business and societal impact that strong ESG performance enables. The paper summarizes the findings of an extensive consultation process, uncovering opportunities for collective action between the complex and diverse set of stakeholder groups that influence ESG reporting, and highlighting where greater action is needed to accelerate system-level progress. Read the "Seeking Return on ESG" White Paper Project Advisor: Wendy Woods
The power grid is an increasingly popular target for cyber-related threats around the world: including among hacktivists aiming to cause civil unrest or state-sponsored groups performing espionage activities. By identifying the key cyberresilience challenges affecting the electricity industry, Cyberresilience in the Electricity Industry: Principles and Guidance for Boards report provides seven strategies that boards of directors can institute to improve the cyberresilience of their organizations and broader electricity ecosystem. Read the "Cyberresilience in the Electricity Ecosystem" Report Project Advisor: Walter Bohmayr
"Value in Healthcare: Accelerating the Pace of Health System Transformation” highlights three critical agenda items to drive value-based health systems forward at the global level: a “user guide” for health system transformation, a global roadmap for health informatics standardization, and a new Global Coalition for Value in Healthcare. Read "Accelerating the Pace of Health System Transformation" Project Advisor: Stefan Larsson
To help the industries prepare in an action-oriented way for the future of work, we created clear cross-industry recommendations and case studies linked to industry-specific roadmaps. Additionally, we show how a cost-benefit balance of reskilling workers in disrupted roles can be built for companies and government stakeholders and how many workers could be reskilled with a positive cost-benefit balance. With this report, we are building on our initial reports, in which we laid out scenarios of what the future of work might look like and introduced a new approach to identifying reskilling and job transition opportunities. Read "Towards a Reskilling Revolution" Project Advisor: Rainer Strack
For most companies around the world, looking at how you build strong partnerships and strong business models is the better way to think. BCG's Rich Lesser examines global economic relationships between different countries, world leaders, and businesses, as Davos begins.
If you want to be a superpower in the world—and the U.S. still is—you have to engage with people. Chairman Hans-Paul Bürkner analyzes the US’s global status amid the government shutdown and trade disputes. Read on The Washington Post >>
Workplace diversity remains an issue for many companies. Global business leaders are stressing the importance of eliminating homophobia and discrimination as a BCG study revealed that workplace diversity is a common theme. Read on Reuters >>
We are facing a big issue: AI algorithms taking nonsense decisions and taking nonsense actions…usually related to the use of [biased] data sets. BCG's Sylvain Duranton discusses algorithms: China's heavy usage and how biased data sets can lead to AI mistakes. Watch the interview on DW >>
[Bitcoin] will go to zero. I think it's a great technology but I don't believe it's a currency. It's not based on anything. With bitcoin steadily falling since its peak value in 2017, BCG’s Jeff Schumacher believes that the cryptocurrency could become completely worthless. Read on CNBC >>
BCG has been helping our clients expand the positive societal impacts that they create through their products, services and how they operate as a business. Hans-Paul Bürkner and BCG partnered with the SK Group to present on how social value can be used as an approach to reach sustainable growth. Read on Business Insider >>
Multiple challenges—the rapid advance of AI and other technologies, a changing global economic order, and the increased scrutiny of business, among others—are reshaping the competitive environment. Here are five ways leaders can get ahead of those trends.Read more on winning the '20s
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