DAVOS-WEF 2009, WHAT THE WORLD NEEDS NOW

The people of Switzerland have again worked long and hard to provide an environment for the leaders of the world to discuss “What The World Needs Now”. As thousands of jobs are being lost, companies closed, ethics questioned and confidence at its lowest, what can be expected from the same leaders who predicted at this same conference in 2008, that the world could expect a mild recession. The same chart out on the snowy streets of Davos with commentators asking the same questions to “those in the know” what their expectations were then, are out this year asking the same people the same questions. If these “power brokers” as they are known, are the people who were suppose to be managing the world economy and were so unaware of the world condition only a year ago, how can we have confidence in their opinions now.

Many ask if conferences such this really produce results. The World Economic Forum is an opportunity for leaders to network and exchange ideas. This is always meaningful and the exchange of ideas is an important part of understanding how leaders consider the issues of today. Since these leaders are the same ones who are reducing their workforce by the thousands, I would like to see the entire discussion conducted around how they plan to make dynamic changes in the way business is done. They may say that is exactly what they are discussing. But it is always what they discuss and look at the results. Thousands waiting in unemployment lines, men and women in uniform fighting wars in foreign lands, poor continuing to be poor-a recipe for radicalism and a planet losing the fight for survival. How do we measure their performance? Do we have a say?

Maybe we should have term limits for CEO’s and their staff. When a CEO thinks that it is OK to buy a new jet after being bailed out by the government, or redecorate their office for over $1M only a year ago, when they should have known that things were not going well in their companies or the world economy, maybe shareholders should have bet on fewer “Greats”.  Maybe term limits would prevent egos from getting in the way of good judgement and keep some balance in management. We need a new generation of managers who have a conscience about how the shareholders money is spent and feel responsibility to their employees. This is not just a top management problem. Shareholders should take a more active roll in assuring that the abuses of the past are not repeated. We cannot be lax in thinking that just because a company is sending a dividend check each year that is all there is to being a shareholder. In my humble opinion, the fault can be spread around and a new way of thinking about how companies are managed and the interaction of those who work and invest MUST take a new, responsible and active roll. If we care about our way of life, do we have any other choice?

Do we continue to talk about ethics among those who have been unethical? Do we hang on every word of the power brokers who have been wrong?  Or should there be an employees bill or rights when we take a job that guarantees us a say in managements actions. Is how they are measured against some real goals that are visible to everyone and measurable not only by the board members an employee right? Why shouldn’t employees be one of the votes along with shareholders and the board in evaluating the performance of a CEO and his/her staff? Is inclusiveness an employee right? Let the debate be about how we change the way things work rather then on how we tweak what has already been proven to be broken. So my question for those in Davos is, do the decisions makers of the world have the guts to make the changes that are What The World Needs Now? 

There is hope! Technology has given us a very powerful tool to cause change. With web sites such as NowPublic, MySpace, YouTube, and others yet to come, we Can cause change. We are still learning how to use the power of technology. For those who just don’t get it, the US election should be a wake-up call. It was but only one example of how we can play a roll. The outcry about the manager who decorated his office is paying his company back, Citigroup who bought a new advanced plane has been told by the US government to “give it back” Our involvement in the dialog is already having an effect, we do have a vote.