As we close out 2019, the world is getting ready to gather once again in Davos-Klosters, Switzerland for the World Economic Forum Annual Meeting. The 2020 event is held from January 21st through the 24th. Stakeholder Capitalism is a major theme for this years event. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum describes the need for a better kind of capitalism. In this recent article describing why we need the Davos Manifesto, he describes the three models of capitalism. The current dominant model is shareholder capitalism – a model that enabled hundreds of millions of people around the world to prosper, as profit-seeking companies unlocked new markets and created new jobs. This model is embraced by most Western corporations and holds that a corporation’s primary goal should be to maximize its profits.
I had the pleasure of delivering a dinner keynote at this weeks SAP Ariba Live event. I was very impressed with the event theme: 3 Trillion Reasons. That theme is a play on the nearly $3 trillion in commerce flowing through SAP Ariba annually. Although that number speaks to commerce, the theme spoke to purpose. As positioned on this Blog frequently, I expect a continued Shift to Purpose and Well-Being.
As I reflected on my Thoughts for 2019, three themes stood out. I’ve already written about Convergence and Acceleration, so this post will focus on possibilities. As described recently, I believe the world will experience a Burst of Possibilities enabled by the forces of convergence and acceleration. We should expect these possibilities to multiply in 2019, but realization depends upon multiple factors. One of these factors is a true focus on purpose, posing this question for humanity: how do we harness these possibilities to bring about a better world?
In arguing the case for purpose-orientation and possibilities, I created this visual that maps future advancements to our areas of well-being (click on visuals to enlarge them). I could create a different one that shows how these same advancements can be used to diminish our well-being. That’s why convergence is the most critical theme among the three. An effective way to think about purpose and possibilities is via the United Nations Sustainable Development Goals. These are among the best-known and most frequently cited societal challenges. I believe we are entering a period of astounding innovation – advancements that have the potential to address these goals.
The World Economic Forum’s annual meeting occurred last week in Davos with a theme of responsive and responsible leadership. The session had me thinking back to research conducted by their Global Agenda Council in March 2015 on the Future of Software & Society. The research focused on technological tipping points and the perception of when these tipping points would occur. The responses from a community of over 800 executives and experts from the information and communications technology sector were used to produce a timeline of possible tipping points ranging from 2018 to 2027. This timeline and the visual that follows were taken from this WEF Deep Shift report: