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I recently attended the debrief session held at the Toronto Board of Trade following the second annual World Economic Forum (WEF). “Resilient Dynamism” was the theme of the event which definitely caught my attention. I was intrigued to learn what risk management insights came out of the WEF.
This year, the forum included world leaders such as heads of government and ministerial representatives from all but one of the G20 countries, 2500 guests including Bill Gates, Thomas Friedman and Charlize Theron (she was there as a Founder of the Africa Outreach Project). Many academics as well as the top global leaders under 30 were invited to attend and provide their generational perspective.
In a nutshell, I’m still not sure what “Resilient Dynamism” means as it was described in so many ways. However, special emphasis was placed on finding ways for leaders, companies and countries to succeed in a volatile world. There was definitely a sense of urgency in the overall tone to be responsive to change. They also stated that during uncertain times, leaders who respond to change most effectively are the ones that succeed as the tendency is to maintain the status quo.
The general consensus on the event: “employ cautious optimism and growth with sound, structural foundations.” For me, the forum was best summed up by a question posed from a CEO who asked, “Should I put my foot on the gas or the brakes?”
The response was “Both.”
The top global risks rated most likely to manifest over the next 10 years are:
See the complete Global Risks 2013 Eighth Edition here.
Joanne Lam is a Regional Risk Management Practice Leader in Toronto.
Related Topics:Crisis Management; Business Resilience
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