Business - Written by Don Tapscott on Tuesday, January 22, 2008 17:40 - 1 Comment
Day zero at Davos
Davos Switzerland — I’m reminded what a huge logistic challenge it is to bring a couple of thousand of the world’s leaders to a small town in the Swiss Alps — get them to sessions, feed, house and protect them. Walking to the registration area Ana (my wife) and I note a parking lot with about 30 tractor trailers that have brought stuff to the event. There are hundreds (or more) staff working the event. The information technology keeps getting better as every attendee can access the program, venues, events, other attendees through the web, including a cool little application that runs from your mobile device.
Not to mention the security. The beautiful snow covered mountain countryside is dotted with Swiss army and police personnel carrying automatic weapons and the environs surrounding the congress center is separated by barb wire fences, security cameras, and very competent looking (and friendly) security people. Not just the congress center but some hotels have metal detector systems that would surpass any airport and everywhere are non-obtrusive police cars, personnel carriers and observant people. If you’re a bad guy, don’t even think about trying to penetrate this place.
The only event today was the opening cocktail party where we had a number of very interesting discussions. One of most insightful for me was with with Samuel DiPiazza the CEO of PricewaterhouseCoopers. PWC has big section of the Belvedere Hotel with vaulted ceilings and architectural coves that is used only for Davos. The theme today seemed to be counterposed forces or ideas — the dialectic if you will. “Controlling versus Letting Go” (a huge issue for those thinking about the theme of Davos this year — collaborative innovation). “Push versus Pull” (every marketing manager is struggling with that one.) Evolution versus Creation. PWC has been a leader in the next generation of reporting — they call it Value Reporting — where the financial report is about al lot more than earnings and financial information. XBRL and the Web 2.0 are poised to transform reporting where the focus will not just be on compliance but on transparency. I wonder if PWC could finally cash in on their leadership position in this area. More important, next-generation reporting could help companies be better understood by their stakeholders, including shareholders, not to mention bring some transparency to financial markets and in doing so possibly avoid crises such as the one we are currently experiencing.
In fact, every conversation begins with the meltdown of the financial markets. What a mess to punctuate the start of the conference tomorrow. It’s big on the minds of CEOs and central banks who are attending the events. There are a number of sessions tomorrow that are addressing the uncertainties of the global economy and what can be done to fix it.
I’m doing a session tomorrow on online communities and how social networking is becoming social production. There will be many leaders of the digital revolution participating so it should be a good discussion.
1 Comment
Denis Hancock
Business - Oct 5, 2010 12:00 - 0 Comments
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I find much of the discussion around the “collapse” of financial markets and “panic selling” floating around quite fascinating.
The DJIA almost doubled in 4 years. The TSE more than doubled from 2003-2007, as did the Nikkei. Hang Seng has tripled in 5 years. The list goes on…
One might say such a massive run-up is rather irrational (based on history, common sense, etc.), in which case one might say the “collapse” of financial markets is a natural and normal correction. And maybe, just maybe, one might ask “shouldn’t the central banks (et al) just let it happen before they find a way to make things worse?”
Just a thought.