Will stakeholder capitalism persist after vaccines are rolled out?

SourceWorld Economic Forum
SectorFinancial Markets
CountryMiddle east

One of COVID-19’s lasting legacies could be a radical shift in the world’s expectations of capitalism. Many organizations chose to adjust their businesses in response to the needs of wider society. The old ways of looking at business could easily creep back in. This year’s Davos Agenda centres on the urgent task of rebuilding trust to deliver a more inclusive, cohesive and sustainable future. But with the inspiring global vaccine effort signalling an end to the pandemic, is there a danger that we – as a global business community – could revert to business as usual? A year ago, the Forum’s Annual Meeting in Davos aimed “to give concrete meaning to stakeholder capitalism”. In the 12 months since, the boardroom has certainly made progress. Not only is it virtual, the conversations are different.

We are no longer focussed on growth; we’re talking about making sure that we collectively rebound, rebuild effectively and become more resilient. Throughout our conversations, one thing has remained consistent: working together is an imperative, especially where the rollout of vaccines is concerned. This thinking has reaffirmed my belief that one of COVID-19’s lasting legacies could be a radical shift in the world’s expectations of ...read more...