Once a year it does World Economic Forum (WEF) summarize the greatest risks for the global economy - based on the assessments of economic experts. This year - even before Corona - there was a surprise in Davos: for the first time, the report makes five Environmental issues than the risks that are most likely to occur.
The Davos Manifesto 2020 also indicates a change in the Economy an: “The purpose of a company is to involve all of its stakeholders in the shared and sustainable creation of value. In creating such value, a company serves not only its shareholders, but all of its stakeholders - employees, customers, suppliers, local communities and society as a whole. ”It means a“ better kind of capitalism ”. And further: "Sticking to the current economic system due to its ecological unsustainability is a betrayal of future generations. Millennials and Generation Z no longer work for companies that lack values that go beyond maximizing shareholder value. Managers and investors have also recognized that their success is closely linked to that of their customers, employees and suppliers. ”
And then came Covid-19. A population representative survey of the Gallup Institute shows new priorities due to the Corona crisis: 70 percent of Austrians name unemployment and health as the issues that have become most important during the crisis. More than 50 percent see regionality on the upswing and are also implementing this in their shopping behavior.
“Conscious, moderate and sustainable consumption is the new guiding principle. Eight out of ten consumers intend to pay more attention to the regional origin of the products they buy. Sustainability and quality play a major role for two thirds, nine out of ten want to forego the purchase of prestige and luxury brands, ”says Andrea Fronaschütz, Managing Director of the Austrian Gallup Institute.
Photo / Video: Option.