WEF: ”Could these 3 ideas reshape global governance?”

Ana Navarro, 33, plays with a giant inflatable balloon of planet Earth as she takes to the streets during a protest march marking the first year anniversary of Spain's Indignados (Indignant) movement in Malaga, southern Spain May 12, 2012. Dubbed "los indignados" (the indignant), the movement which spawned similar protests worldwide prepare to occupy Spanish streets for the whole weekend on the first anniversary of the 15M movement in a renewed protest over government austerity measures, banks, politicians, economic recession, and the highest unemployment in the eurozone

”Upwards and onwards … how can we make 21st century governance more more accountable, inclusive and efficient?”

”We are witnessing a lack of trust in governance models around the world. This comes from the perception that our leaders are unable to solve challenges, resolve conflicts, deal with threats and generally behave in an accountable manner. What this creates is apathy and a sense of alienation among the population. But more ominously, it leaves a vacuum for other actors – those with other interests in mind than the common good – to fill. Decision-making processes and structures need to change.

It is not the first or the last time governance models have had to be rethought. The socio-economic consequences of a shift from agricultural to industrial societies in the 19th century created the need for new institutions that governed social security. World War II triggered the creation of the United Nations Security Council to enable countries to take collective measures for the preservation of peace at the international level.

Today, the progress of digital technology is altering power structures as it reshapes individuals, organizations and societies. The changes brought about by the Fourth Industrial Revolution will hopefully be largely positive, but empowerment can bring about unintended consequences. For these we’ll need new governance models that are more effective, accountable and inclusive. New questions will arise. Can we trust the crowd? How can we manage the risk of the tyranny of the majority? How do we ensure reflexivity and long term-thinking in a fast-paced environment? How can we ensure effective collaboration while including more actors?

The road towards 21st-century governance

The pace, depth and scale of change in expectations and digital technology make it hard for current governance models to deal with global challenges. Reforms and improvement alone will not do the trick. We need a systemic change, but how do we do that?….”

Source: World Economic Forum – http://www.weforum.org/agenda/2016/02/3-ideas-to-revive-global-governance

The Board Director Training Institute (BDTI) is a "public interest" nonprofit in Japan dedicated to training about directorship, corporate governance, and related management techniques. It is certified by the Japanese government to conduct these activities as a regulated nonprofit. Read a summary about BDTI here, and see a menu of its services for both corporations and investors here.

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