48th St. Gallen Symposium – Image brochure by St. Gallen Symposium

Beyond the end of work / 48th St. Gallen Symposium / 2â&#x20AC;&#x201C;4 May 2018

WELCOME The International Students’ Committee is a student-driven initiative that aspires to take responsibility for our future and tackle the topics most relevant to our society. At a time where many challenges remain unsolved, we feel it is our duty to be part of such a movement, for which thirty students put all their heart, energy, and time – voluntarily and for one year – into organising a global forum that has been bringing people together for nearly half a century: the St. Gallen Symposium. The main focus of our work will be engaging a highly diverse community that covers a broad spectrum of views and knowledge on the theme of “Beyond the end of work” at our symposium in 2018. That is why our team travels the world to meet with the most inspiring and engaged personalities, across generations, cultures, and disciplines. Over the course of the next year we will meet with our supporters, friends, partners, and partners-to-be to involve them in our global dialogue and to make them aware that our initiative is not just about a three-day-conference. It is about making a substantial contribution to an international, ongoing discourse on topics that matter to people with the power and responsibility to change things. There certainly are a few highlights awaiting us in 2018. For the 30thtime, we will visit the best universities worldwide to inspire thousands of the most talented and critically thinking students to compete for a chance to participate in our forum. As they submit their ideas about how our generation will contribute to shape a world where human capital might become economically useless, the writers of the one hundred most brilliant ideas will be invited to join us in May 2018. Another highlight will be to involve a third generation in our forum: Aspiring Leaders from the rank of corporate executives, entrepreneurs, and politicians between the ages of 30 and 45. This cohort is about to take over the role of global leaders and decision makers in a few years’ time and, hence, have a lot to contribute to our initiative as well. We look forward to welcoming you in St. Gallen from 2–4 May 2018 for healthy debates with three generations of leaders.

Annika Hochstrasser, Xenia Huber and Lasse Balster Head of the Organising Committee

BEYOND THE END OF WORK

#beyondwork

6 CONTENT â&#x20AC;&#x201C; 48th St. Gallen Symposium

CONTENT

All revolutions are the sheerest fantasy until they happen; then they become historical inevitabilities. David Mitchell

BEYOND THE END OF WORK Technological advancement is on the rise and will continue to proceed exponentially. Yet, the impact of automation on work as the primary purpose in life is still debated controversially.

Fears that new technologies will eliminate everyone’s jobs for the benefit of only a few are familiar. Similar concerns led to furious arguments two centuries ago, as industrialisation took hold in Great Britain. At the time, the term “industrial revolution” was not yet on everyone’s tongue: people talked instead about the “machine question.” In his 1821 essay “On Machinery,” economist David Ricardo worried about the “influence of machinery on the interests of the different classes of society” and the “opinion entertained by the labouring class, that the employment of machinery is frequently detrimental to their interests.” Today the machine question is back, with a new twist. The implications of artificial intelligence (AI) are being hotly debated by technologists, economists, politicians, and philosophers alike. AI now threatens workers whose jobs had previously seemed impossible to automate, from financial analysts and lawyers to journalists. A widely cited study by Carl Benedikt Frey and Michael Osborne of Oxford University, published in 2013, found that 47% of jobs in

America were at high risk of being “substituted by computer capital” soon – giving the long-discussed relation between capital and labour a new urgency. Whether or not we all lose our jobs to robots, global mobility, social and demographic changes as well as new ecosystems and life philosophies will certainly lead to new roles and career models in the future. How are societies going to react? And how will the primary purposes in life change over time? The average person now spends 100,000 hours at work over a lifetime. Work not only fills a large part of our individual lives, but often defines who we are. And even if we do not necessarily agree on what the future of work will look like, one thing is for sure: its character and meaning will change fundamentally, offering new opportunities and perspectives. The 48th St. Gallen Symposium will take up the theme of work under the title Beyond the end of work. We will tackle the issue by looking at the roles and responsibilities of individuals, societies, businesses and politicians.

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INDIVIDUALS’ MISSION Career paths are changing. Graduates are turning away from traditional careers in banking or corporations and considering roles at start-ups, tech giants, and consultancies. When it comes to work models, disruptions in professional careers, frequent job changes and the growing popularity of temporary contracts are posing new challenges but also offering new opportunities to the individual. If we regard work as a primary purpose in life, the question of how a changing – or partially missing – work environment affects individuals’ perception of the meaning of life seems pivotal.

BUSINESS’S RESPONSIBILITY In order to tap new opportunities, preserve jobs and stay attractive as an employer, reacting to disruption by adopting new business models and embracing new technologies will be critical in the years to come. Moreover, finding, fostering and managing talent will be key in successfully adopting to a new work environment. Nevertheless, the private sector is continuously creating more value with less working hours or a smaller workforce. What responsibilities does it bear when it comes to today’s workers as their jobs shrink or disappear?

SOCIETY’S CHALLENGE Changing demographics mean the advent of a four-generation workforce is set to change the workplace. There has been considerable focus on youth employment in recent years. However, in some regions, demographics are such that the fastest-growing segment of the workforce is over 50. Sometimes, the older workers fill jobs that might have gone to a younger workforce. But whatever the careers of the future look like, eventually ‘retirement’ is inevitable. Even if the meaning of retirement is evolving, there will be the need for providing a vision and the steps to transition into a post-work life.

POLITICIANS’ DUTY Education is vital for the continuing prosperity of present and future generations. Therefore, redesigning education systems and including lifelong learning opportunities must be a priority around the globe. Second, finding the right political answers to new life courses will be just as important. How can states ensure the creation of jobs, beyond building bureaucratic systems themselves? How can they remain competitive when it comes to attracting and retaining jobs? And what will future tax and social welfare systems look like?

Dies ist eine Bildlegende welche von einer auserwählten Person geändert wird.

Leader of Tomorrow challenging the status quo in one of the symposium’s Plenary Sessions.

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WORK AS AN HOMEOPATICUM, OR: WILL WE SHARE THE (BLESSED?) DESTINY OF HORSES? Sedlácek and Shamsrizi predict the nature of work will change drastically – considering how humankind has evolved in the past.

TOMÁŠ SEDLÁCEK (CZ) Sedlácek is an economist and university lecturer. In addition, he works as Chief Macroeconomic Stategist for the Czech national bank and is a former member of the National Economic Council of the Czech Republic. His book “Economics of Good and Evil”, published in June 2011, was a bestseller in the Czech Republic.

MANOUCHEHR SHAMSRIZI (DE) Shamsrizi, M.P.P. FRSA “is among the most publicly prominent voices of Germany’s younger generation” according to the Washington Post. He is Co-Founder & CEO of Hamburg-based social business RetroBrain R&D and co-founder of gamelab.berlin. He attended the St. Gallen Symposium in 2011 and 2012 and is member of the symposium’s community.

In line with Nietzsche, it has to be said forest which has been replaced by its homeand it cannot be repeated often enough: opaticum: shaping ornamental bonsai trees. “Will we go the way of horses?” In other The God of economics is dead. This God is non-existent. There is no invisible hand. words, will we be used for pleasure and There are only our hands, right hand and sports but no longer for work? This is an onleft hand, and they can do good and evil. going debate among economists, but not so With these hands – enhanced and empow- much among tech-entrepreneurs and our ered in these times of digitalization, the ini- fellow geeks, who are restlessly working on tial stages of transhumanism and the final AI, blockchain, gamification, and virtual restages of economic growth – we will rebuild ality - or, as philosophers call it – real virtuality. We once lived and worked in the our world. Work will – in some form – remain. Even forest. Today, we visit the forest once or Tolkien’s Elves work, and the extraterrestrial twice a year, to sort of relax, but we don’t live there anymore. civilizations of Star Our habitat is in citTrek still work as ies. And maybe in well, though their Work, in the classical meaning 10 or 20 years, we jobs are drastically of the word, will most likely will visit reality in different from ours. turn into a homeopaticum. the same way. It A big part of our will be like going to jobs today did not the forest today: exist a generation ago, and a similar trend is to be expected in We drop in once, twice, three times a year, the future, perhaps even in an exponential just to feel “more real”. form. Work, in the classical meaning of the word, will most likely turn into an homeopaticum – a (dubious) medical concept, which holds that a small portion of something unhealthy is considered healthy. We no longer toil in the field of agriculture the way we used to in ancient times, but a “little bit of agriculture” (like home-grown tomatoes) will be very popular. It is considered healthy and soothing, it connects one with nature and many other hipster properties. These home-grown tomatoes are much more costly than store-bought versions, so one is actually paying extra for the luxury of being able to work on them ourselves. Another example would be hard work in the

IS IT TIME WE RESURRECTED RELIGION?

Nicholson tries to answer the question of purpose in a post-work age by proposing a restoration of religion.

With the rise of AI and automation, the tance of religion has been in decline. Often we look at religion as a negative million-dollar question is “what will we do, if not work?” Around the world, many peo- factor responsible for wars, conflict and ple find their sense of purpose through prejudice, but perhaps we are being unfair. work. When people ask us “what do you Religion brings comfort to many, improves do?” we answer with our job titles, not our life expectancy and often provides a good base set of morals to live by. But most imhobbies or anything else. The psychological impact of the loss of portantly, religion also gives people a great employment is of great concern. Maslow’s sense of purpose. Like many things, maybe hierarchy of needs demonstrates that we religion is best in moderation: Most people need self-actualisation to be fulfilled. Self- would agree, that extremism in any form can be negative. actualisation can Therefore, perhaps encompass many Perhaps a return to a religion a return to a relithings, including a that gives purpose, community gion that gives pursense of purpose. pose, community Psychologists have and morality is important in a and morality is imshown that a loss post-work age. portant in a postof purpose is one of work age. But it is the core elements leading to depression in unemployed indi- up to the religious institutions of today to viduals. Unemployment threatens Maslow’s prepare themselves for that change. They hierarchy of needs from the top down, by must become organisations that people can reducing self-esteem, straining relation- turn to, and they must foster an image of inships and in the worst case threatening clusivity and charity that will welcome the safety and basic physiological needs. There- unemployed. fore, it is imperative that a sense of purpose is replaced in a post-work era. But where will we find this purpose? Many have suggested finding people alternative means of employment – after all, perhaps even a pointless task is better than nothing. But the effects of this are unknown and may still result in depression caused by lack of purpose. Throughout history, until the early part of the last century, religion was an integral aspect of most people’s lives. While this is still the case in many countries, in the Western world, the impor-

TAMSIN NICHOLSON (UK) Ex-military, freelance marketer, innovator and aspiring consultant, Nicholson is a real multipotentialite. When she is not doing her “day job”, she is tackling the problems of the world with her philanthropic start-up, Yekize. The idea of Yekize was born in 2017 at the St. Gallen Symposium.

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PEOPLE

Some say that ‘the best way to predict the future is to create it’. At the St. Gallen Symposium, I had a sense of experiencing both. The Speakers and the Leaders of Today allowed me to deeper understand the trends of today and its possible implications. The students and the Leaders of Tomorrow showed me how the future of a new era is going to look like and how it is going to be created. I would not miss the next St. Gallen Symposium for the world. Arthur Chua, CEO Goldbell Group

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COMMUNITIES

LEADERS OF TODAY

LEADERS OF TOMORROW

The St. Gallen Symposium is all about the dialogue between the Leaders of Today and Tomorrow. We welcome internationally recognised figures from the business, academic, social and political arenas, and devote a lot of time and effort to attracting participants from all over the world and all walks of life. Chosen from the upper echelons of business and politics, participants exhibit great engagement when entering into a dialogue with the Leaders of Tomorrow on the campus of the University of St. Gallen.

It is the Leaders of Tomorrow who make the symposium unique. Young, inspirational and ready to embrace the world from their own point of view, the Leaders of Tomorrow come from a truly global and diverse background. Students are required to show their potential through a demanding essay competition, and the top hundred contributors are invited to St. Gallen. A further hundred Leaders of Tomorrow are selected from a rich field of young researchers, entrepreneurs, and politicians who have already proven their skills.

ASPIRING LEADERS

FACULTY

Meet the most aspiring entrepreneurs, business professionals, and politicians between the ages of 30 and 45 who have the potential to become the world’s most influential leaders and decision makers. They build bridges between Leaders of Today and Tomorrow by actively engaging with the symposium community across disciplines, cultures, and generations. They qualify through recommendations made by the symposium’s partners or through careful selection by the symposium organisers.

International speakers and Topic Leaders will exchange ideas, knowledge, and experiences with participants in various meeting formats. Following extended plenary discussions with the audience, the participants will explore the ideas that come out of the Plenary Sessions in-depth in smaller Work Sessions, under the guidance of the relevant speaker and an assigned Topic Leader. Instead of just addressing an audience, our Faculty has the unique experience of engaging Leaders of Today and Tomorrow in our debates.

Kersti Kaljulaid, the President of Estonia, gives a speech to the Circle of Benefactors at the symposium in 2017.

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LEADERS OF TOMORROW 200 outstanding young talents under the age of 30 from all corners of the world attend the symposium to help shape the debates on relevant topics. They become part of a global community which nurtures their friendships, ideas and initiatives over the long run.

Each year, young leaders from up to 60 countries are carefully chosen, representing 120 universities, start-ups and other organisations worldwide. They all qualify based upon merit and get selected through two different approaches.

The Knowledge Pool is a diverse group of 100 hand-selected academics, entrepreneurs, politicians and scientists. They are chosen based on referrals from within the symposium’s global network. These leaders have achieved extraordinary things at a relatively young age and are capable of contributing to the debates with fresh insights and new ideas.

The St. Gallen Wings of Excellence Award is a global student competition on the topic of the symposium. The authors of the 100 best essays, as judged by an independent jury are chosen to attend the symposium. Since its launch in 1989, tens of thousands of young academics from more than 1,000 universities in 120 countries worldwide have competed for this award.

COMMUNITY

IMPACT

The symposium maintains a global alumni community with more than 1,100 active members. Leaders of Tomorrow meet regularly in cities around the world. They get involved in various symposium initiatives and support the ISC wherever they can. Some of them return to the symposium in new capacities. The community stays connected constantly using the symposium’s community app.

The Leaders of Tomorrow get involved in various projects to support the symposium’s stakeholders solve some of their most pressing issues. These talents get inspired in St. Gallen and meet the people who can help them commence their own entrepreneurial endeavours, such as EarthSpark International (US), IMANI Center for Policy & Education (GH), or Global Initiatives Symposium in Taiwan (TW).

PARTICIPATION

OPINION

The St. Gallen Symposium provides the world’s brightest young talents with a global platform. They get involved in session formats that allow them to express their opinions prominently. Attending the symposium is the beginning of a long-lasting journey that goes far beyond the symposium experience.

An annual review of the top contributions to the symposium’s global essay competition as well as a global survey among young talents quantifies the opinions of the next generation of potential leaders. Leaders of Tomorrow also provide quality content that is spread via the symposium’s global media channels.

Leaders of Tomorrow present and defend their ideas in front of the symposiumâ&#x20AC;&#x2122;s global audience.

Future leaders debate with todayâ&#x20AC;&#x2122;s decision makers at the St. Gallen Symposium. Pictured: Leaders of Tomorrow Talk with Charles O. Holliday Jr., Chairman of Royal Dutch Shell plc.

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LEADERS OF TODAY The Leaders of Today at the St. Gallen Symposium represent companies as well as political and academic institutions from all over the world. Both participants and speakers belong to the upper echelon of decision makers.

For nearly 50 years, the St. Gallen Symposium has built a reputation for involving the business, political and academic elite. This is the result of the extraordinary efforts made by the International Students’ Committee (ISC), which embarks on a global roadshow every year to meet with decision makers in business and academia. It is this single-minded approach and the impressive exchange between the students and those who co-shape world affairs that has secured the loyalty of the St. Gallen peer group over the years. When they flock to St. Gallen in May, it is the ISC’s turn to provide excellent content and warm hospitality. The same applies to the speakers at the symposium. If not for their unusual openness and their willingness to engage with business participants and Leaders of Tomorrow, the symposium would never have developed into a world-class platform for open and honest dialogue between generations. A glimpse at the selection of former speakers on the next page shows how big St. Gallen’s footprint has become. When such luminaries engage with top business participants and remarkable young leaders over the hot topics of our time, then the symposium’s mission is accomplished.

Thebe Ikalafeng, Founder and Chairman of Brand Africa and Public Sector Excellence.

A SELECTION OF PAST SPEAKERS Each year, a distinguished faculty of eminent international personalities explores and develops its views on present and long-term issues in business, politics and society. Here is a selection of speakers from recent years.

PAST SPEAKERS

Christine Lagarde (FR)

Timothy Garton Ash (GB)

Tidjane Thiam (CI/FR)

Managing Director of the

International Historian & Author

Chief Executive Officer

International Monetary Fund, Washington D. C.

Credit Suisse Group AG, Zurich

Dominic Barton (CA)

Prof. Thomas Jordan (CH)

Cesar Purisima (PH)

Global Managing Director, McKinsey & Company

Chairman of the Governing Board,

Secretary of the Philippine Department

London

Swiss National Bank, Zurich

of Finance, Manila

Xavier Bettel (LU)

Donald Kaberuka (RW)

Raghuram G. Rajan (IN)

Prime Minister of Luxembourg, Luxembourg

President, African Development Bank Group,

Governor, Reserve Bank of India, Mumbai

Abidjan Anders Fogh Rasmussen (DK)

Sergio P. Ermotti (CH) Paul Kagame (RW)

Former Secretary General,

President of the Republic of Rwanda, Kigali

NATO, Copenhagen

Laurence A. Tisch Professor of History,

Jack Ma (CN)

Gerhard Roiss (AT)

Harvard University, Cambridge MA

Founder, Chairman & CEO, Alibaba.com

Former Chairman of the Executive Board &

Laurence D. Fink (US)

Joseph Muscat (MT)

Chairman & CEO, BlackRock, New York

Prime Minister of Malta, Valetta

Ivan Glasenberg (AU)

Kumi Naidoo (ZA)

Chief Executive Officer, Glencore plc, Baar

Executive Director,

Group CEO, UBS AG, Zurich Prof. Niall Ferguson (GB)

Chief Executive Officer, OMV AG, Vienna Prof. Philippe Sands (FR/GB) Professor of International Law,

Greenpeace International, Amsterdam Ulrich Grillo (DE)

University College London, London Severin Schwan (AT) CEO, F. Hoffmann- La Roche AG, Basel

President, Federation of

Ngozi Okonjo-Iweala (NG)

German Industries (BDI), Berlin

Minister of Finance for the Federal

Tony Tan Keng Yam (SG)

Republic of Nigeria, Laos

Former President of Singapore, Singapore

President of the Executive Group,

Paul Polman (NL)

> www.symposium.org/highlights

Swatch Group, Biel

CEO, Unilever N.V., Rotterdam

Nick Hayek (CH)

20 PROGRAMME â&#x20AC;&#x201C; 48th St. Gallen Symposium

PROGRAMME

22 PROGRAMME â&#x20AC;&#x201C; 48th St. Gallen Symposium

PROGRAMME

WEDNESDAY / 2 MAY 2018

MORNING

LEADERS OF TOMORROW

THURSDAY / 3 MAY 2018

FRIDAY / 4 MAY 2018

PLENARY SESSIONS

WORK SESSIONS

BACKGROUND

SESSION

PLENARY SESSIONS

SOCIAL SESSION

PROGRAMME

LUNCH

AFTERNOON

EVENING

DINNER FOR THE CIRCLE OF BENEFACTORS

PEOPLE – 48th St. Gallen Symposium

CONTRIBUTE – DEBATE – CREATE From Plenary Sessions addressing a large audience to Work Sessions providing an intimate exchange of ideas among a small selection of participants, the St. Gallen Symposium offers a wide range of discussion formats.

PLENARY SESSIONS The Plenary Sessions take place in front of a large audience. In Keynote Addresses, distinguished speakers explain their ideas and consider the questions at hand in concise speeches. A constructive exchange of views is fostered through participation from the assembly, moderated by a Topic Leader. In Keynote Panels, under the guidance of an experienced moderator, a group of three to five speakers engages in a lively debate on a specific topic. The panellists articulate their positions from different angles and enlarge upon the topic in distinct ways. The panel is opened up afterwards to questions from the audience. Finally, the One-on-One distinctively differs from the other Plenary Sessions as it is an investigative question-andanswer session pairing a high-profile speaker with an experienced Topic Leader. In a One-on-One, the speaker is challenged on specific topics and is asked critical questions about his positions.

The Work Sessions are the core element of the symposium programme. They are the most suitable format for a direct and unrestricted discussion between speakers and participants. Work Sessions complement the Plenary Sessions and allow participants to directly exchange their opinions and experiences. This may happen either through plenary speakers who wish to expand on their remarks in a smaller setting, or through speakers who exclusively provide their expertise on a topic that deepens the overall symposium theme. In groups of 30–50 participants, the Work Sessions create the opportunity to participate in intense debates with the aim of developing solutions.

BACKGROUND SESSIONS

SOCIAL SESSIONS

The Background Sessions convey content on issues not directly related to the annual topic of the St. Gallen Symposium. They address both current affairs and questions from ongoing debates in the fields of business and politics. The Background Sessions give participants the opportunity to acquire knowledge in a compact form. In contrast to other sessions, most Background Sessions are open to the public, giving the speaker the opportunity to address an interested audience beyond the symposium’s participants.

While the meeting formats provide food for thought and the opportunity to engage in moderated discussions, the informal atmosphere of the Social Sessions is equally important. On the St. Gallen Symposium’s piazza, covered by impressive awnings, the ISC does everything possible to make speakers and participants feel at ease. Overlooking the idyllic city of St. Gallen and with a stunning view of the nearby mountains, the piazza encourages people to enter into relaxed discussions. The lounge on the university’s rooftop is perfect for personal meetings, and a full programme of evening events provides for entertainment. The vibrant settings range from informal gatherings in student flats to exquisite Dinner Nights on campus or in the city of St. Gallen.

WORK SESSIONS

24 ABOUT â&#x20AC;&#x201C; 48th St. Gallen Symposium

ABOUT

CIRCLE OF BENEFACTORS

The ISC is thankful to be able to count on the support of its Circle of Benefactors, which includes approximately 400 major companies around the world. The circle

plays a pivotal role in financing the St. Gallen Symposium as well as in advising the students. It ensures the continuity of the initiative through long-term partner-

ships with the ISC based on a shared commitment to the basic idea of crossgenerational and interdisciplinary dialogue.

MAIN PARTNERS

is an official main partner of the St. Gallen Symposium

is an official information technology partner of the St. Gallen Symposium

is the official document services provider of the St. Gallen Symposium

MAIN PARTNERS LEADERS OF TOMORROW

is the official technology consultant of the St. Gallen Symposium

is an official transport services partner of the St. Gallen Symposium

is an official information technology partner of the St. Gallen Symposium

is the official financial services supplier of the St. Gallen Symposium

26 ABOUT – 48th St. Gallen Symposium

123 2Xideas 360 Treasury Systems AG A ABACUS Research AG ABB Ltd Abraxas Informatik AG Accenture (Schweiz) AG Dr Josef Ackermann a-connect (group) ag ACXIT Capital Partners Adecco Management & Consulting S.A. ADM International Adveq Management AG Aebi Schmidt Holding AG Aepli Metallbau AG Akris AG Albers & Co AG ALID AG Allen & Overy Allgemeines Treuunternehmen Allholding Beteiligungsverwaltungs GmbH Allianz SE Alpha PetroVision Group Altium Capital AG Alu Menziken Extrusion AG Alwys Holding AG AMANN & Söhne GmbH & Co. KG Ameropa Holding AG AMS Österreich ANA HOLDINGS INC. Arbonia AG Arcron AG Argon Asset Management Arri AG Audemars Piguet Autoneum Holding AG Avaloq Group AG B B.Grimm Group Baker & McKenzie Zurich Bank Julius Baer & Co. Ltd. Banque de Commerce et de Placements S.A. Banque de Luxembourg S.A. Banque Internationale à Luxembourg S.A. Bär & Karrer AG Barandun von Graffenried AG Barclays Bank PLC Barry Callebaut AG BASF SE

Bauwerk Parkett AG Bayerisches Staatsministerium für Wirtschaft und Medien, Energie und Technologie BB Biotech BDO AG BearingPoint Beekeeper AG Beiersdorf AG Beisheim Holding GmbH Belimo Holding AG Bellevue Asset Management AG Berenberg Bank (Schweiz) AG Bewital Holding GmbH & Co. KG BianchiSchwald Bilfinger SE BKW AG Blasto AG BlueOrchard Finance Ltd BMW (Schweiz) AG BNP Paribas (Suisse) SA Boston Consulting Group BRAINFORCE AG Bratschi Wiederkehr & Buob AG Brauerei Locher AG bta first travel ag b-to-v Partners AG Bucher Industries AG Bühler Management AG C Capgemini Schweiz AG Capvis Equity Partners AG Careerplus AG Cargolux Airlines International S.A. Cat Aviation AG CEAMS CE Asset Management CEWE Stiftung & Co. KGaA CF&C Finance Suisse SA Jenny Chiam China Construction Bank Clariant International AG Cofra Holding AG Conova Consulting AG Dr Philipp Cottier Credence Partners Pte Ltd Crédit Agricole (Suisse) SA Credit Suisse Group AG Crypto AG CSL Behring AG

D Danzer AG Dätwyler Holding AG DBAY Advisors de Sede AG Deloitte AG Deutsche Apothekerund Ärztebank eG DMG MORI AG Dr. Bjørn Johansson Associates AG DvH Medien GmbH AG E E. Gutzwiller & Cie. Banquiers EBP Ecolab Europe GmbH Dr Pierre Edelmann Edelweiss Air AG Egon Zehnder Elcotherm AG elea Foundation for Ethics in Globalization ElringKlinger AG Emil Capital Partners Emil Frey Gruppe Energie 360° AG EQT Partners AG Ermenegildo Zegna Group Ernst & Young AG Esselte Leitz GmbH & Co. KG EurAsia Competence Switzerland eventDATAServices AG Eversheds Sutherland F Falcon Private Bank Ltd. Falke KGaA Farner Consulting AG FEI Capital Partners Inc. Ferring Pharmaceuticals SA Festo AG & Co. KG Finyon Consulting AG Fis Organisation AG Flughafen Zürich AG Fondazione Fidinam Forbes Marshall Private Limited Forma Futura Invest AG Forol Holding AG Fresenius Medical Care AG & Co. KGaA furrerhugi. ag

G Gallus Holding AG Christoph Gautier GCA Altium AG Geberit AG Gebrüder Weiss GmbH Generali CEE Holding B.V. Georg Fischer AG GfK Verein Givaudan SA Glatz AG Glen Fahrn Glencore International AG Global Law Office Goba AG Goh Swee Chen Goldbell Corporation Pte Ltd Goldman Sachs International Golien Ltd Graubündner Kantonalbank Greenhill & Co. Europe LLP GRENKE AG Growthpoint Properties Groz-Beckert KG Guldborg International Gurit Services Toyoo Gyohten

HOPI HOLDING a.s. HSG Alumni Nick Huber Huber + Suhner AG Hublot SA Hyposwiss Private Bank Genève SA

H Habib Bank AG Zurich Halcyon Agri Corporation Limited Halfmoon Bay Capital Limited Hälg & Co. AG Hathon Holding AS Haufe-umantis AG HAWE Hydraulik SE Haws Switzerland AG HBM Partners AG Heidrick & Struggles Helbling Holding AG Helsinn Healthcare S.A. Helvetia Holding AG Heraeus Holding GmbH Hesta Services AG Hewlett Packard Enterprise Hewlett-Packard (Schweiz) GmbH Hexagon AB HIAG Immobilien High Meadows Foundation Hilcona AG HILTI AG Homburger AG

K KAMAX Holding GmbH & Co. KG Kantonsspital St. Gallen KIND Hörgeräte GmbH & Co. KG Dr Karl-Heinz Kipp Dr Sonja Kiss Kontivia AG KPMG AG KUHN RIKON AG KUKA Aktiengesellschaft Kuoni Travel Holding Ltd.

I IBM Schweiz AG IKEA Foundation IMD Industriellenvereinigung Wien Infosys Consulting AG ING-DiBa AG innogy Ceska republika a.s. Innosight Asia-Pacific InterGlobe Aviation Limited (IndiGo) J Japan Tobacco Inc. Jaquet Partners AG Jebsen & Co. Ltd. JENOPTIK AG Johnson & Johnson JT International S.A. Jung Technologies Holding AG Jura Elektroapparate AG

L LafargeHolcim Ltd. Landesbank Baden-Württemberg Landewyck Tobacco S.A. Leaders Solutions AG Leister AG Lenz & Staehelin Lenzing Aktiengesellschaft Leonteq Securities AG Lephatsi Investments (Pty) Ltd Lexzau, Scharbau GmbH & Co. KG LGT Group Foundation

LIDL Schweiz Liebherr-International AG Lilienberg Unternehmerforum Lincoln International Linz Textil Holding AG Lombard Odier & Cie Lyreco Switzerland AG M Maerki Baumann & Co. AG Mammut Sports Group AG Mangrove Capital Partners MANN+HUMMEL International GmbH & Co.KG Manor AG Marcol Capital Europe S.A. Martel AG St. Gallen Max Schmidheiny-Stiftung Mazars S.A. McKinsey & Company medienwerkstatt ag Merifin Capital MEWA Textil-Service AG & Co. Management OHG Microsoft Schweiz GmbH Mikron Holding AG MLS Dr. Max Schnopp AG Mobiliar Versicherungen Müller-Möhl Foundation Mutschler-Gruppe My Drop in the Oceans N Namics AG Nellen & Partner AG NEOPERL International AG Nespresso Suisse Neue Aargauer Bank AG Neue Zürcher Zeitung Neutrik AG Niederer Kraft & Frey AG Nikko Asset Management NIMO Holding AG Norddeutsche Landesbank Girozentrale Notenstein La Roche Privatbank AG Novartis AG Novozymes A/S O Odgers Berndtson Oel-Pool AG Oettinger Davidoff AG OMV Aktiengesellschaft

28 ABOUT – 48th St. Gallen Symposium

Omya Management AG One North Capital Pte. Ltd. Orell Füssli Holding AG Orifarm Group A/S Otto (GmbH & Co. KG) P Papyrus Partners to Leaders Paul Hartmann AG Perella Weinberg Partners UK LLP Pictet & Cie Prager Dreifuss AG PRE Management Group PricewaterhouseCoopers AG Private Client Bank AG PRS Group, Mumbai PSP Group Services AG Pure Circle Limited Q Quadriga Capital Beteiligungsberatung GmbH Quinn Emanuel Urquhart & Sullivan, LLP R Rahn + Bodmer Co., Banquiers Raiffeisen Schweiz Richter + Frenzel Rieter Management AG Rivella International AG Robert Bosch AG Robert Bosch GmbH Roche AG Roland Berger AG Rolex SA Rosenbauer International AG Rothschild Bank AG Rotronic AG RP – Sanjiv Goenka Group RUAG Holding AG Russell Reynolds Associates S Sabinum AS SAP (Schweiz) AG Schaltag AG Schellenberg Wittmer AG, Rechtsanwälte

Schenker Storen AG Andreas Schmid Schneeberger Holding AG Schöffel Schweiz AG Joachim Schoss Schroder & Co Bank AG Monika und Wolfgang Schürer Die Schweizerische Post SCOR Switzerland Ltd. Scott Sports SA Scout24 Schweiz AG Securitas AG Sefar Holding AG SFS Holding AG Siegfried Holding AG Dr Gralf Sieghold Sika AG Silverhorn Investment Advisors Limited Sitag AG SIX Group Skyadvisory AG smARTec Veranstaltungstechnik AG Sonova AG Sopra Steria GmbH Southern Capital Group Spectrum Value Management SpotMe St. Galler Kantonalbank AG St. Galler Tagblatt AG Stadt St. Gallen Starrag Group Holding AG Steinfels Weinaktionen & Weinhandels AG Gertrud Stoll-Fein Sulzer Management Ltd. Yuji Suzuki Swiss Krono Group Swiss Life AG Swiss Prime Site AG Swiss Re Swissmem T Takeda Pharmaceuticals International AG Tamedia AG TCI Consult GmbH Telindus THI Investments GmbH Transformation Partner TRL Krosaki Refractories Limited TÜV SÜD AG

U UAB koncernas “ACHEMOS GRUPE” u-blox Holding AG UBS AG Umdasch Group AG Underberg AG Union Bancaire Privée United Managers Japan Inc. Universitätsspital Basel Universitätsspital Zürich upc cablecom GmbH USM U. Schärer Söhne AG V Valcambi sa Valora Holding AG Vetropack Holding AG Victorinox AG VISCHER AG Vita Vontobel Holding AG VP Bank AG W Weisse Arena Gruppe Philipp Weckherlin Wellershoff & Partners Ltd. Wenger Plattner Wicor Holding AG Willy Bogner GmbH & Co. KGaA Winton Capital Management Limited Dr Peter A. Wuffli Eugene Wong Hin Sun Würth International AG X Xavier University Bhbaneswar Xerox AG XL Catlin Y Ypsomed AG Z Zehnder Group International AG Zentis GmbH & Co. KG ZF Friedrichshafen AG Dr Heinz Zimmer Zühlke Engineering AG Zumtobel AG Zürcher Kantonalbank

30 ABOUT – 48th St. Gallen Symposium

PATRONS

The Leaders of Tomorrow contribute to the success of the St. Gallen Symposium not only during the two days in May, but also in various initiatives throughout the year. We

123 2Xideas A ABACUS Research AG ABB Ltd Abraxas Informatik AG Accenture (Schweiz) AG Albers & Co AG Allgemeines Treuunternehmen AMS Österreich Autoneum Holding AG Avaloq Group AG B BDO AG BearingPoint Belimo Holding AG Bucher Industries AG Bühler Management AG C Cat Aviation AG Chemical Solutions, s.r.o. Credit Suisse Group AG D Dätwyler Holding AG De Pfyffer & Associés Deutsche AVIA Mineralöl-GmbH

would like to express our sincere gratitude to our Leaders of Tomorrow Patrons who enable the empowerment of the next generation through all of St. Gallen’s initiatives and

projects that involve our Leaders of Tomorrow starting from 2015.

G Geberit AG Georg Fischer AG Globus SB-Warenhaus Holding GmbH & Co. KG Graubündner Kantonalbank Gunvor SA

O Österreichische Nationalbank

H Helsinn Healthcare SA HIAG Immobilien Homburger AG Hupac S.A. J Jung Technologies Holding AG K Kasikornbank Public Company Limited L Landewyck Tobacco S.A. Leaders Solutions AG Lephatsi Investments (Pty) Ltd

E elea Foundation for Ethics in Globalization Emil Capital Partners

M Manor AG Mobiliar Versicherungen Muhr und Bender BKG Müller-Möhl Foundation Munksjö Oyj Mutschler-Grupp

F Festo AG & Co. KG furrerhugi. ag

N Notenstein La Roche Privatbank AG

P Peter und Luise Hager-Stiftung PSP Group Services AG R Raiffeisen Schweiz S SIX Straumann Holding AG Swiss Re U Union Bancaire Privée USM U. Schärer Söhne AG V Valcambi sa Valora Holding AG Vita W Würth International AG X Xaxera GmbH XL Catlin Z ZF Friedrichshafen Zürcher Kantonalbank

32 ABOUT – 48th St. Gallen Symposium

INTERNATIONAL STUDENTS’ COMMITTEE (ISC)

The International Students’ Committee (ISC) is an independent student initiative at the University of St. Gallen. Each year, a team of approximately 30 students volunteers for nine months. Their challenging task: organising an outstanding St. Gallen Symposium. Responsibilities are split up between the team mem-

bers. Some students are responsible for fostering contacts with members of the Circle of Benefactors, selected speakers and leaders from the fields of business, science, politics and society. Others maintain contacts with the best universities in the world or supervise long-term projects in the fields of communica-

MEMBERS OF THE 48TH ISC TEAM

HEAD OF THE ORGANISING COMMITTEE

Benedikt von Boehmer (DE) Jason L. Brilli (CH/IT) Alice Burckhardt (CH) Elisabeth Burkhardt (CH/SE) Chloé Dunning (CH/FR) Loïc Favre (CH) Marc Hew (CH) Lia Hollenstein (CH) Tim Hug (CH) Tobias Hutter (CH) Samir Ibrahim (CH/SP/EG) Elena Kessler (CH) Frederic Koch (DE) Louise Lüthy (CH) Michael Nemtsev (DE) Karoline Rast (DE) Severin Schmugge (CH) Ella Stanisch (CH/DE) Alvhilde Vigen (NO) Jonathan Vontobel (CH) Kai Wagner (DE) Felix Wanner (DE) Isabella Welge-Lüssen (DE) Leonardo Winzap (CH/MX) Bénédicte Zeller (CH/FR) Camille Zeller (CH/FR)

tion and information technology. All team members are involved with the development of the conceptual framework and content of the St. Gallen Symposium as well as designing and planning the conference.

Lasse Balster (DE) Annika Hochstrasser (CH/DE) Xenia Huber (CH/DE)

The members of the 48th International Students’ Committee (ISC).

ST. GALLEN FOUNDATION FOR INTERNATIONAL STUDIES

The activities of the International Students’ Committee (ISC) are guided by the St. Gallen Foundation for International Studies. This combination of student responsibility and professional guidance is vital for the longterm success of the St. Gallen Symposium. The foundation assists the ISC-Team in its task

of developing the symposium’s conceptual framework and content and also guarantees the strategic development of the symposium. Moreover, the Board of Trustees supervises the deployment and efficient use of available resources. Beside its commitment to the St. Gallen Symposium, the foundation devotes

its attention to other international projects at the interface between business and society.

BOARD OF TRUSTEES

FOUNDATION TEAM

SPECIAL ADVISORS

Chairman Peter R. Voser (CH) ABB Ltd. Vice Chairman Karin Keller-Sutter (CH) Canton of St. Gallen, St. Gallen Prof. Dr Thomas Bieger (CH) University of St. Gallen, St. Gallen Prof. em. Dr Peter Gomez (CH) University of St. Gallen, St. Gallen

Chief Executive Officer Beat Ulrich (CH) Chief Operating Officer Dominic Baumann (CH) Vice President Rolf Bachmann (CH) Vice President Claudia Rapp (DE) Associate Mariana Castro (BR)

Bénédict G. F. Hentsch (CH) Dr Christian Mumenthaler (CH) Swiss Re, Zurich Dr Christoph Loos (DE) Hilti AG, Schaan Dr Ralph Schmitz-Dräger (DE) Arcron AG, Zurich

Associate Alexandra Ettlin (CH) Project Manager Selina Halusa (CH/DE) Project Manager Kaspar Koechli (CH)

Dr Gerhard Schwarz (CH)

Project Manager Tobias Rordorf (CH)

Honorary Chairman Dr Josef Ackermann (CH)

Project Manager Daniel Stadelmann (CH/DE/PE) Project Manager Sascha Stehrenberger (CH)

Singapore Alexander C. Melchers (CH/DE/SG) C. Melchers GmbH & Co. Japan Yuji Suzuki (JP) Credit Suisse (Japan) Securities Ltd. China Dr YAO Jianzhong (CH/CN) Asia Capital Reinsurance Group

34 INVOLVEMENT â&#x20AC;&#x201C; 48th St. Gallen Symposium

INVOLVEMENT

SUPPORTING A NEARLY 50-YEAR-OLD STUDENT INITIATIVE Through different concepts of partnerships each individual or organisation can contribute to the success of the symposium.

To guarantee the successful organisation of every St. Gallen Symposium, the ISC relies on the support and engagement of inquisitive partners worldwide. The ISC’s partners display an extraodrinary drive for the key values of the symposium and therefore passionately partake in this initiative. The ISC uses a rigorous selection process to choose its partners and supporters, carefully focussing on the most relevant individuals and organisations to contribute to the “St. Gallen debates.” The selectees can get involved in the following ways:

BENEFACTORS

PATRONS

DONORS

Benefactors constitute the symposium’s long-standing partners. The Benefactors are represented at the symposium and at regional St. Gallen Symposium events by senior executives and by their aspiring leaders. They get involved in the symposium in various ways, which include global brand exposure, exclusive and tailor-made session formats, access to the idea pool of the Leaders of Tomorrow, access to exclusive young generation study material, and even tailored collaborations beyond the symposium experience. Benefactors can choose between becoming a Partner, a Preferred Partner, or a Main Partner.

Supporters can become Patrons if they prefer to contribute specifically to the empowerment of the young generation in their region or through year-round initiatives. Their financial contribution is not related to participation in the symposium, but it allows the student organisers of the symposium to foster the young generation worldwide by engaging them in very meaningful activities. This includes bringing 200 Leaders of Tomorrow from more than 50 countries to St. Gallen, running idea laboratory projects with students and young leaders, investing in the development of the Leaders of Tomorrow idea pool, or travelling the world to meet and encourage students and other young leaders to join the symposium initiative.

It is the Donors who deliver all the small but crucial elements that are necessary to run a world-class conference. Companies provide commodities to the ISC, like beverages, gifts, financial services and conferencing infrastructure, that allows the symposium initiative to thrive and to engage their participants in an unforgettable conference experience. The Donors help all participants in the symposium to shine and to receive the services and hospitality they deserve. Donors are mentioned on the symposium’s digital media throughout the year.

> www.symposium.org/partners

REGISTRATION & SERVICES

Participation in the symposium is based on invitation only. Information about how to register follow upon invitation. To ensure every conceivable comfort and convenience for the participants and guests at the St. Gallen Symposium, the International Students’ Committee (ISC) provides the following services: Airport welcome Business lounge Facilitation of buisness meetings First-class catering MySymposium app Personal student guide Private office rooms Transport service ...and many more

We are glad to be at participants’ disposal not only during the forum, but also before and after the St. Gallen Symposium. Further information concerning the upcoming St. Gallen Symposium and the 2017 topic can be found on our website www.symposium.org which contains speeches as well as impressions of former symposia. Visit and follow us on: Facebook Twitter Youtube LinkedIn

IMPRINT

Publisher International Students’ Committee (ISC) P.O. Box 1045 9001 St. Gallen Switzerland Phone +41 71 227 20 20 Fax +41 71 227 20 30 info@symposium.org www.symposium.org

Text Editor Andrew Curry

Photography St. Gallen Symposium

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