Institutions need to innovate to rise to 2012 challenges

The world needs to embrace new ways of running its institutions to rise to the challenges of 2012, concludes the World Economic Forum’s Outlook on the Global Agenda 2012 released recently.

The report is the private, academic, civil society and public sectors’ overview of the main issues confronting the world following a year of tumultuous events, from Fukushima to Libya and Wall Street.

The annual report identifies the six most pressing issues global decision-makers face in 2012: the global economy; power shifts and emerging markets; job creation; political entrenchment; climate change; and the digital revolution. For each area, the report offers new models for addressing complex challenges. Specific suggestions include restructuring the International Monetary Fund to allocate seats on the board on a regional basis, delegating fiscal authority in Europe to the level of the Eurozone, and promoting sustainable, green growth innovations. The Outlook on the Global Agenda 2012 is the annual publication of the Network of Global Agenda Councils, which consists of more than 1,200 influential leaders from government, business, civil society and academia. Each of the 79 Councils includes 15-20 international experts who meet regularly to propose innovative solutions to major global, industry and regional challenges.

Meeting in Global Agenda Councils, which are organised by the World Economic Forum, the experts discuss new models for approaching the issues of their respective Councils. Their recommendations will contribute to shaping the agenda for the Annual Meeting 2012 in Davos-Klosters, and have provided input for the G20 consultations that the Forum held with the government of France, the current G20 chair, and will be conducting with Mexico, the G20 chair next year. The report incorporates the outcomes of the annual Survey on the Global Agenda, which polls the Network’s members on major trends and issues, and discussions from the fourth Summit on the Global Agenda in Abu Dhabi, United Arab Emirates, in October 2011.

The Outlook on the Global Agenda 2012 includes ideas and models designed by international experts to help leaders deal with new, and still forming, political, economic and technological systems that require revised approaches to problem solving, new models for the conduct of human affairs and improved techniques for interpersonal and international relations.

Models outlined in the report include:

nHow to provide international liquidity in times of crisis through regional and global coordination

nActive collaboration between the private and public sectors to attract capital and investment, thereby encouraging entrepreneurship in fragile states

nLarge-scale apprenticeships and internship programmes to support youth education and employment

nTotal resource management as a new approach for resource-efficient growth

nThe transformation of education and learning through a digital experience