The full form of WEF is World Economic Forum. It is an NGO with its main office in Geneva, Switzerland, founded in 1971. It is an independent organisation that enhances global policies through ongoing relationships and discussions.
The WEF comprises world-renowned thinkers, businesspeople, and public leaders who uphold the highest standards of moral integrity. Unfortunately, WEF has occasionally been portrayed as a wealthy class that lives in a tower and is cut off from the outside world.
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A Short History of WEF
Top global firms are represented in the membership-based WEF. Professor Klaus Schwab of the University of Geneva founded it in 1971. Before 1987, it was known as the European Management Forum and then as the World Economic Forum (WEF full form).
Political figures from several nations began to promote their causes there quickly. For the 2016 meeting, a request was made to include the North Korean delegation. The People’s Republic of China’s head of state attended the forum in 2017 for the first time.
The plenary talk was delivered by Prime Minister Narendra Modi in 2018, making him the first head of state from India to address an annual keynote gathering in Davos. According to the WEF, the three biggest concerns facing the modern world are terrorism, protectionism, and climate change.
Mission of WEF
The WEF, an impartial organisation, regularly holds discussions to help settle economic conflicts quickly. WEF’s initiatives are shaped by their distinctive stakeholder philosophy and thoughtfully integrate the complex traits of various organisational units.
WEF members’ numerous geopolitical viewpoints and backgrounds continually change this truly international nonprofit organization’s diaspora. According to WEF, progress can only be said to occur when the global economy as a whole experiences positive developments.
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Impact of WEF
This simple philosophy is to deliver the brightest and most relevant minds and find solutions to the world’s most important problems. The World Economic Forum (WEF) has been a change agent for 50 years, influencing thousands of international conflicts and governments’ policy frameworks. This forum aims to:
1. Influence public policy by consulting with important stakeholders and Empowering the world.
2. pursuing a common objective for the fair distribution of limited natural resources
3. Awakening the audience through brand awareness initiatives and paradigm-shifting through persistent collaboration.