What Davos teaches us about Networking and Deal-making at the Highest Levels?

What is Davos and why it is so important for the Global Movers and Shakers?

Davos, a small town in Switzerland, is otherwise famous for the Annual gathering of the world’s political, business, and celebrity elites hosted by the World Economic Forum or the WEF, a private think tank that has been founded by one time academic, Klaus Schwab.

This yearly retreat of the Who’s Who of the global jetsetters gained importance over the years as the assembled list of guests and speakers discussed the present state of the world and exchanged notes on how the future would shape up.

Indeed, given the diversity of the assemblage and the variety of topics that are discussed, Davos soon became a much sought after destination for anybody who was somebody on the world stage, in addition to accredited journalists and academics as well as experts interested in reporting on and in finding ideas for their profession.

A sideshow of the event is that it is also a place where the rich and famous network and engage in deal making and this is where, the invitations for this event have become much sought after for the opportunities that Davos presents for the gatherings of the elites.

How Davos offers Insights into How the Global Elite Network and Get Deals Done

It is often said that the most of the business deals are usually struck over a Game of Golf or a fundraiser and in events such as Davos. Indeed, when the best and brightest meet, invariably, the chances of networking lead to forming of useful friendships and the continuation of old relationships, which can then lead to partnerships and other forms of mutually beneficial arrangements.

In this context, Davos offers the best backdrop for deal making at the highest levels and hence, aspiring management professionals can well learn a trick or two by studying and following its’ proceedings.

This can be done by tracking which day has what topics that are being discussed and which speaker is talking what.

While many of the discussions are behind closed doors and open to invited guests, journalists, and a select few, it is not difficult to gather what was said and by whom, by reading leading business publications such as the Financial Times, Bloomberg, the Economist, and the Wall Street Journal, among others such as the Australian Financial Review.

Moreover, some of the media coverage and commentary is available for free online and hence, anyone interested in the trends shaping tomorrow can well follow what is being said today in Davos.

Davos helps us Understand the Forces and Trends Shaping the Future

Apart from that, Davos also offers a fascinating study in the way the global elite works and the attendees and more importantly, the ones who are not attending or the list of the guests who made it and who declined are all useful to know how the Winds are blowing in the worlds of politics and business.

Moreover, Davos also offers a unique window into the future of Emerging Markets and the trends that are shaping it.

Indeed, if we take the case of the attendees from India, more often than not, we can discern who among our politicians want to be perceived as Pro Business and who among our elites who attend is likely to be the Thought Leaders in the future.

Moreover, given the fact that among the Indian elite who attend, there are numerous members of the business community who often go standalone or accompany a politician, reveals a lot about who is in favour with which leader and more importantly, and who would be the Next Darling of the Global Elite.

Therefore, Davos also offers a chance to do some sociological analysis combined with likely business and political trends.

The Continuing Relevance of Davos Even when Globalization Looks to be Retreating

Having said that, in recent years, Davos seems to be losing its shine as a Go To destination as the prevailing trends in the West are not favourably disposed towards Globalization.

In other words, with populists such as Trump in the United States and Boris Johnson in the United Kingdom prevailing and with Russia too retreating within, that leaves a few European leaders left to defend globalization.

Indeed, Trump has always been a reluctant attendee but, the times that he has gone there, he has managed to charm the gathering.

Again, this shows that despite the Headwinds, globalisation is not over yet and hence, aspiring management professionals can also study the subtle signals and discern where the tides are leading.

Apart from this, at the end of each year’s retreat, there are announcements of deals, Memoranda of Understanding, Prospective Partnerships, and announcements of Joint Ventures between the various stakeholders.

By researching each of these, there are lessons to be learnt for students of business and commerce to glean material for their studies and to learn and understand how the Global Power Game works.

In addition, just like the TED Talks, some of the events at Davos are broadcast online and hence, these are also useful for reference.

Conclusion

Last, we would definitely like anyone who is reading this to be a future attendee. After all, Davos attendees have a special name recall and brand value which the saturation media coverage ensures.

So, in case you want to become a Davos Man or Woman in the future, start early and follow each year’s event and over time, as you settle into career, you would realise that all the hard work and the hours spent in research and analysis is definitely worth the effort.

To conclude, Davos offers us enough insights into the future as well as into how networking and global deal making happens.


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The article is Written By “Prachi Juneja” and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.


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