Geneva, Switzerland - The World Economic Forum has announced the Community of Global Growth Companies' official list of Founding Members and is seeking to include other businesses capable of redefining the global economy.
World Economic Forum Founder and Executive Chairman Klaus Schwab said, "This is a truly global community made up of companies destined to join the ranks of the multinationals in the next five to ten years. They are successful because they are able to challenge the status quo and drive their industry forward while nurturing the values of global corporate citizenship which the World Economic Forum is built upon."
The Community of Global Growth Companies was launched at the Inaugural Annual Meeting of the New Champions in September this year in Dalian, People's Republic of China. For the summit, known as the "Summer Davos", Schwab had set the goal of 100 Founding Global Growth Company Members. Today, he welcomed the more than 140 Founding Members, underlining that the time is right for this new initiative. Forty percent of the Members are from Asia; 26% hail from Europe; 20% are based in the Americas; and 14% come from Africa and the Middle East.
The Forum's Head of Membership Development within the Centre for Global Growth Companies, Grant McKibbin observed, "These Founding Members form the core of this community, and have already exhibited enthusiasm and leadership in helping us determine the direction of this strategic initiative of the Forum. As ambassadors of the group, we look forward to engaging them in growing the community and addressing the common issues related to what it means to go global." Please click on http://www.weforum.org/ggc for the full list of the 142 Founding Members of the Community of Global Growth Companies.
The Community of Global Growth Companies is based on the premise that visionary companies can expand more rapidly than at any time in history, helped by new factors such as global financing, instant communications, rapidly scaleable technologies and integrated logistical networks. In this environment, an increasing number of new players are building a global reach and competitive advantage. This group of highly influential companies is reshaping the global business landscape. While Global Growth Companies do not have the size and international reputation of traditional multinationals, they succeed through speed, flexibility and constant innovation. Some of the key indicators of these companies are:
- Growth rates exceeding 15% year-on-year
- Revenues typically between US$ 100 million and US$ 2 billion
- Demonstrated leadership in a particular niche or industry
Members of the Community have the opportunity to network and share experiences with each other as well as with the greater Forum Community. Of special note is the Community's ability to work with a select number of the Forum's Strategic Partners, the GGC Community Partners, to get insights and guidance on such topics as managing risk, strategic growth, branding and talent management. Together they will address the most pressing issues facing rapidly growing companies in their efforts to go global. The GGC Community Partners are:
Accenture Ernst & Young Apax Partners Infosys Technologies Avaya McKinsey & Company Bain & Company PepsiCo The Coca-Cola Company WPP Dubai Holding Zurich Financial ServicesThe second Annual Meeting of the New Champions will take place in Tianjin, People's Republic of China, on 25-27 September 2008.
For more information about the Inaugural Annual Meeting of the New Champions and about Global Growth Companies, please visit the following Web links:
- Inaugural Annual Meeting of the New Champions Report
- Inaugural Annual Meeting of the New Champions Video
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About The World Economic Forum
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.
Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not for-profit; it is tied to no political, partisan or national interests (www.weforum.org )
For more information, please contact:
Richard Elliott
Senior Media Manager
World Economic Forum
Communications Department
Email: richard.elliott@weforum.org
Tel: + (41-22) 869 1292
Fax:+ (41-22) 869 1394
Website: www.weforum.org
© Press Release 2007
