Building Ecosystems For A Great Reset

Faced with the consequences of the global pandemic, we have a rare, but narrow window of opportunity to reflect, reimagine, and reset our world. The World Economic Forum’s inaugural Pioneers of Change Summit convened innovative leaders and entrepreneurs from around the world to showcase their solutions, build meaningful connections, and inspire change across the Forum’s diverse multistakeholder communities. Our special sessions were designed to help cultivate cross-community engagement on ideas and actions that will shape our collective future.

COVID-19 has exposed the deep fault lines that put our future at risk. The livelihoods of 1.6 billion people are now at stake; more than 460 million children have lost access to education with the digital divide; and more than 50 million people have been affected by 85 extreme weather events this year. The world needs to “reset” across socio-economic, technological, environmental, and geopolitical dimensions. We examined how the public and private sectors can create winning ecosystems that revitalize industries and enable “The Great Reset.”

Replay Session 1

Hosts

• John Romeo, Managing Partner and Head of Oliver Wyman Forum 
• Greg Rung, Partner, Financial Services, Oliver Wyman

Panelists

• Louise Anderson, Electricity Industry Community Lead, World Economic Forum
• Laurent Auguste, Operating Partner, Ara Partners  
• Christopher Guérin, CEO, Nexans

Key Takeaways

• The crisis is an opportunity for a reset to address the negative externalities in our system and create a more sustainable environment from a business, social, and ecological perspective. To do this, we need collaborative ecosystems across industries that take into account the full value chain.

• There are a number of success factors to drive systemic change through ecosystems. A common mission for societal benefit is key - though individual stakeholders may have different needs and goals, the overall mission is shared. We also need to see shifts towards value sharing, scaling up, and encouraging investment and entrepreneurship.

• We are all sharing the same purpose around the ‘3P’s – planet, people, and prosperity. But there is also a fourth ‘P’ – partnerships. We should not be focusing on only one dimension at a time, but will instead see the best results when the four converge.

Replay Session 2

Hosts

• Hanna Moukanas, Partner and France Market Leader, Oliver Wyman
• Greg Rung, Partner, Financial Services, Oliver Wyman

Panelists

• Denis Machuel, CEO, Sodexo
• Pierre-Etienne Franc, Vice President, Air Liquide
• Manju George, Head, Platform Strategy, Digital Economy, World Economic Forum
  

Key Takeaways

• Ecosystems realize systemic change at scale when there is political will and long term vision mobilizing people to change their behavior. Companies unite around a purpose to create positive economic, social, and environmental impact, and use this purpose to guide decisions, engage their employees, and retain their license to operate in society. 

• For ecosystems to drive systemic change, businesses need common frameworks and greater collaboration in data sharing across the value chain. Businesses can leverage new emerging models for data sharing that support social and environmental outcomes while also protecting individual privacy and commercial interests.

• Businesses can take the first steps to become involved in ecosystems by establishing a long term vision, understanding what role their company can play, and then finding like-minded people who are anchored in that same vision.

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