What makes Davos so compelling?

The World Economic Forum (WEF) will mark its 50th anniversary in Davos on 21st to 24th January 2020. Klaus and Hilde Schwab have created an event that is utterly compelling for the leaders of the world’s best businesses. But what is it that makes it so compelling to attend? And is there something we can all learn from its success in convening the world’s most powerful business people?

In early November each year, 700 invited experts meet in Dubai to contribute their ideas to 36 specialist councils. The specialist subjects range from Advanced Manufacturing to Space. Many of the expert participants report that for much of the time their discussions meander over familiar ground. However, occasionally there are diversions in the flow of conversation. WEF staff are trained to look closely at these diversions. They lean in to begin panning for gold. The format is fast, furious and focused on the unusual. Three months later, at Davos, these golden nuggets are cleaned up for distribution.

It may look like an expensive talking shop. Sometimes it is. But every organisation needs to know how to pan for their own golden ideas. In Davos, business leaders hope to pick up nuggets from the Dubai expert councils to alloy with their own unique materials and are anxious not to allow their competitors to gain an advantage. Small wonder Davos has become so compelling.

One lesson to draw from this success is having patient faith in expertise is necessary but it is not sufficient. A framework is needed in which the expertise is expressed. During Dubai 2019, an idea was developed of how to enable product remanufacturing through the use of a digital avatar. Is this a nugget for you? And who in your organisations could recognise or discard it?