«Efficiency and Prospects of the World Economic Forum in the 21st Century»
Students Name: Nesteruk Tetiana
Qualification Level: magister
Speciality: International Relations
Institute: Institute of the Humanities and Social Sciences
Mode of Study: part
Academic Year: 2022-2023 н.р.
Language of Defence: ukrainian
Abstract: The globalism movement has united people and structures with a positive attitude towards globalization and its beneficial effects on global society. One of the economic leaders of globalism in the international arena is the World Economic Forum - an annual meeting in Davos, Switzerland. The Forum is a capitalist grouping that is the leader of economic globalization. The goal of WEF is to qualitatively organize business activities in order to satisfy the interests of the global public, observing all standards of public and private management [1]. The format of "Davos" is complex: it has an international, national, regional, local and thematic character. The activities of the WEF, its prospects and organizational structure directly depend on the situation in the world, global crises and public sentiments. This is the key point that highlights the need to monitor its business prospects due to the trends of global changes in the world system. The object of the study is the World Economic Forum as a key element of the globalist movement and an actor of economic globalization. The subject of the study is the peculiarities of the activity and effectiveness of the influence of the World Economic Forum on the processes of economic globalization. The purpose of the master’s thesis is to assess the role of the World Economic Forum in the context of modern globalization processes and to determine the prospects of the organization’s activities in the 21st century. The reasons and prerequisites for the emergence of the World Economic Forum were determined in the master’s thesis. The general characteristics of the Davos Forum demonstrate that the Forum acts not only as an organization for the formation of the global economy, but also as an analytical center and a platform for diplomatic negotiations. Critical critical views of anti-globalists on the activities of the organization were analyzed. Criticism strongly undermines the organization’s authority on the international arena, but it is constructive. Critical views relate to the closedness of the forum, its capitalist views and socio-financial inequality among society. This work examines the organizational structure of the WEF and the legal basis of its activity [3]. Changes in the organizational structure in accordance with modern conditions and global challenges are analyzed using the example of the branch of the Fourth Revolution. The specifics of the work, goals and tasks of the Forum are also defined. They are aimed at maintaining the stability of the economic and financial system, solving the global problems of today, and developing the technological spheres of the 21st century. The influence of economic crises on the activity of the organization is considered. It was determined that the Forum directly depends on economic and global crises, which are a threat to its activity. This, in turn, leads to a decrease in the share of financing of the Forum’s activities and certain economically dependent projects. The Forum demonstrates flexibility in various formats of cooperation during crisis situations - during the coronavirus pandemic, the Forum switched to online format meetings [2]. This work highlights the prospects of the WEF activity in the 21st century. WEF really remains a stable leader in the global world at the moment and has great prospects for activity and further development. WEF develops short- and long-term strategies for education, climate, poverty reduction, health and business [3]. Keywords - World Economic Forum, globalization, economy, crisis, finance, global challenges, coronavirus. References. Kellerman, B. A. (1999). Reinventing Leadership – Making the Connection Between Politics and Business. New York: Oxford University Press. New Millennium (2015). Available from: https://widgets.weforum.org/history/2000.html . Stiglitz, J. E. (2006). Globalization and its Discontents. Making Globalization Work. London: International Sociology University Press.