Business and the rules of the game: from rule takers to rule makers?

This page in:

Over the next two days, Alexis Sampson and Michael Jarvis, both from the World Bank Institute, will be your eyes and ears at the ongoing 12th International Business Forum (IBF) in Washington, DC. Here is their first post:

"The stakes for business are as enormous as they are complex," asserted Lenny Mendonca of McKinsey and Co. during this morning's opening session of the World Bank's IBF, "defining businesses' proper role will challenge business executives to adopt a new awareness of social problems in real time, even before they have fully emerged as critical issues in the public debate."

This was the challenge issued to the 300 leaders from 50 countries meeting here at the Bank today and tomorrow.

The largely business audience agreed that the question is not whether the private sector should be participating in setting the global rules that govern their own conduct, but how. United Nations Special Representative for Business and Human Rights John Ruggie, emphasized the need for "strong bridges" between rule makers and rule takers—to avoid "pushback against globalization"—and called for "more effective transnational means of governance covering all key international players, including business."

Juan Jose Daboub, Managing Director, speaking on behalf of the Bank agreed that operating in today's global economy is risky business, but applauded the private sector for creating sustainable jobs and being a willing partner in finding cost-effective solutions for those most in need.

Stay Tuned: More live updates from the International Business Forum will be posted very soon.

Join the Conversation

The content of this field is kept private and will not be shown publicly
Remaining characters: 1000