"We are living in an increasingly schizophrenic world where economies are booming and global signs are promising but underneath are economic, political and social risks as well as imbalances and inconsistencies," said Klaus Schwab, the Forum's Founder and Executive Chairman. "We want to make sense of this world and shape the global agenda, taking into consideration the fragilities of global development and global systems. This is the unique contribution we make each year - to analyse the state of the world, the challenges, risks and opportunities. We sort out our priorities and come out with solutions to our problems."
I think that an organization such as the World Economic Forum that allows people to take initiative develops individuals who have the highest degree of satisfaction because they feel they're making a difference and touching people's lives. They go on to then take real ownership for the success and betterment of the organization.
Another thing that makes WEF great is the broad diversity of talented, exceptional, committed people. When you bring together people from diverse backgrounds, ethnicities, work, and academic experiences, they literally see different information in the environment and approach situations differently. It has been my experience that such a diverse team brings the broadest amount of information to bear on a situation, and with broader information one is enabled to make better decisions that will translate into a better outcome.
While globalization has resulted in an unprecedented expansion of global trade and investment that has spurred the world economy to grow at its fastest pace in three decades, lifting hundreds of millions out of poverty, the benefits are not evenly shared. Renewed efforts are needed to mitigate the negative effects of globalization.
In fact the advancements in technology, global risks and the multiplying pressures from rapid globalization have increased the responsibilities of companies and their leaders, challenging them to find new and innovative approaches to doing business. Chief executives must now look beyond shareholder interests and cater for the needs and concerns of a wider group of stakeholders, employees who want to work for socially responsible enterprises and shareholders who demand greater transparency and better governance.
Social Entrepreneurship is a subject very close to my heart. I believe that much as entrepreneurs change the face of business, social entrepreneurs act as the cataclysmic change agents for society, seizing opportunities others miss and improving systems, inventing new approaches, and creating solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur comes up with new solutions to social problems and then implements them on a large scale. My career objective is to spread awareness of this concept which is the process of recognizing and resourcefully pursuing opportunities to create social value.
Unfortunately more often than not social entrepreneurship is mistakenly identified predominantly with non-profit bodies generating earned income. When the Schwab Foundation for Social Entrepreneurship named Linda and Millard Fuller of Habitat for Humanity and Wendy Kopp of Teach for America, among others, as outstanding social entrepreneurs, it did confuse many people! Both organizations are well known, but neither of them is known for its earned income strategies. They rely heavily on grants and donations. In fact, these social entrepreneurs are masterful at attracting philanthropic donations. What makes them entrepreneurial is that each of them has pioneered creative ways of addressing social problems and marshalled the resources to support their work. Habitat mobilizes volunteers to build affordable houses for the poor. Teach for America recruits talented college graduates to teach in economically distressed schools. This outstanding decision by WEF lent credence to the view expressed by Bill Drayton at Ashoka that social entrepreneurship is about innovation and impact, not income.
Like Sir Winston Churchill put it "Success is not final, failure is not fatal: it is the courage to continue that counts." We live in a world of speed and instant access, yet it is common for entrepreneurs to have minimal business success, on average failing 17 times, before they reach the pinnacle of success. Thus it really does not matter how long it takes, what matters is finally getting there in the end.
Social Entrepreneurship is about innovation and impact which makes the focus on income redundant. What one needs to do today is to pioneer creative ways of tackling social problems powerfully.
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