Ten Key Takeaways From Davos 2024

We have to build new economic models, new businesses and possibly new lifestyles or humanity that are just as good, or even better, than what we have today – Gim Huay Neo, managing director of World Economic Forum (WEF), Geneva

‘Regenerative’ business. According to the BBC, building resilience in the midst of climate change was a big topic at the 2024 WEF meeting. To diminish climate risks, businesses must reinvent their current commercial models, procedures, and supply chains—not just fine-tune them, experts advise. So-called regenerative practices can be used to create positive outcomes rather than to merely avoid bad ones. For instance, a US apparel company uses cotton that’s grown alongside other crops to boost harvests and reduce the amount that it must purchase. [BBC]

From McKinsey Newsletter: One main insight from this year’s meeting is that sustainability is a business imperative. Although navigating the net-zero economy has become more complex over the past 12 months, organizations that act courageously can generate value more quickly, leaping ahead of competitors.

Here are ten key takeaways from Davos 2024, the largest annual meeting in WEF’s history:

Speed is crucial to outperformance.
Cooperation is multifaceted and can coexist with competition.
The generative AI revolution is only just beginning.
Sustainability is a business imperative.
Better women’s health is correlated with economic prosperity.
A comprehensive approach to transformation is most effective.
Business leaders need to focus on matching top talent to the highest-value roles.
The best CEOs leave organizations in a better place than they found them.
Performance and diversity are not mutually exclusive.
Don’t overlook India’s potential.

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