As I mentioned in an earlier blog, one of the best reasons for coming to Davos is the chance to meet other global business leaders.
One such gathering yesterday was of the Transatlantic Business Dialogue (TABD), a group of senior executives who work to reduce trade barriers between the US and Europe .
The TABD was really invigorated by Niall Fitzgerald when he was at Unilever. The baton has now been taken up by the TABD’s two new co-chairmen, Chuck Prince of Citigroup and BA's Martin Broughton, with support from the likes of EU trade commissioner Peter Mandelson.
I'm glad to report progress is being made to create barrier-free trade across the North Atlantic , especially in areas such as intellectual property, capital markets and regulation. This in turn will promote economic growth and create jobs.
Then it was off to a lunch for business leaders hosted by President Pervez Musharraf of Pakistan . It was a real eye-opener. Musharraf has overseen with impressive determination a reform programme that has led high economic growth rates, a lower budget deficit and increased foreign direct investment while dealing with the aftermath of the recent earthquake. His grasp of the issues was very impressive.
A series of one-on-one meetings followed before I went off to four evening receptions and a dinner. The sacrifices I have to make!
By far the best gig I attended was hosted by one of the world’s major consulting companies, which, if it ever wanted to, could surely make as much money from throwing great parties as from advising companies!
On a more serious note, this morning (Friday) I'm speaking at a session on corporate citizenship – a subject very close to my heart.
I believe it is essential that companies understand the business (and moral) case for corporate social responsibility (CSR).
It is vital that companies take a longer term view by encouraging a corporate culture that understands the importance of integrity and trust and its responsibility towards the communities in which it works.
Of course, this also includes sustainable business practices with regards to the environment.
This approach isn’t just an exercise in public relations. Increasingly, people want to work for, and customers want to buy products and services from companies who embrace CSR.
But enough of my hobby-horses. As I prepare to leave a snowy Davos, here are some final thoughts.
I remain concerned about the low levels of trust that the public have in business. We still have a lot to prove.
And on a more personal level, I'm disappointed that I never managed to make it on to the ski slopes. But whisper it quietly, this year I have both enjoyed and benefited from being in Davos.
I hope you have enjoyed and benefited from this blog, too.
-Mike Rake, Chairman, KPMG International
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