Stéphane Garelli

Professor Stephane Garelli is a world authority on competitiveness and has pioneered research and the theory in this field. He is Professor Emeritus at IMD Lausanne, where he has founded the World Competitiveness Center, he is also Professor Emeritus of World Competitiveness at the University of Lausanne.

 

“Time to look at the World differently” -Stéphane Garelli

 

Stéphane Garelli reads today’s global economic picture better than anyone else. He is an exciting speaker who combines content with an entertaining approach to complex issues supported by his trademark graphics. His presentations on competitiveness provoke companies and individuals to think “outside of the box”, and to confront their strategies with recent market trends and new competitive pressures.

 

Professor Stephane Garelli was Chairman of the Board of Directors and shareholder of Le Temps, the leading French language Swiss newspaper, Chairman of the Board of the Sandoz Financial and Banking Holding, and Member of the board of the Banque Edouard Constant. Professor Garelli was the Managing Director of the World Economic Forum and of the Davos Annual meetings for many years. He is a member of a number of institutes, such as: China Enterprise Management Association, Board of the ‘Fondation Jean Monet pour l’Europe’ and The Swiss Academy of Engineering Sciences. He is also a member of the International Olympic Committee Commission on Sustainability and Legacy.

 

In his keynote speeches, professor Garelli always makes sure to provide future and ideas oriented content that is relevant for the specific audience. He believes that interesting is not enough and content should be ‘so what’ oriented.

 

Stéphane’s most sought-after topics include:

 

2023: THE RISK OF STAGFLATION?

For the first time since the 1970s, the world economy simultaneously runs the risk of enduring Inflation and a recession (or a severe slowdown).

However, central banks, mainly in the US and Europe, continue to target the fight against Inflation as their main priority. On the other hand, governments will continue to shelter consumers through generous subsidies to protect them against the hardship of energy or price increases. The resulting increased debt is an issue pushed to the future. A mindset of being assisted “at any cost” is developing in many countries.

The problem is that the central banks’ and many governments’ policies are incompatible. This dilemma runs in the background of all public decisions in 2023.

 

NEW CHAPTERS IN THE BOOK OF GLOBALIZATION

The “Golden Age” of globalization (1978 – 2018) was characterized by establishing a unified global market with cost-efficiency and high profits. It could be summarized as “Just in Time”. Every nation could focus on what they do best according to the law of comparative advantages.

However, it also leads to an excess of specialization. Vulnerability and overdependence became a significant concern, both politically and economically, reinforced by the hardship of the Covid crisis.

A new chapter in globalization thus emphasizes the decoupling of economies and duplication of technologies. The aim is to reduce the overdependence on supplies from other nations. The objective is to develop a “Just in Case” model, more secure, more resilient, and more expensive.

 

THE END OF LOW-COST GLOBALIZATION?

During the past 30 years, globalization has brought significant efficiency, a vast product supply, and low inflation to the world economy.

However, today, the shortage of supplies, bottlenecks in delivery, wage increases, and inflation indicate that low-cost globalization has reached its limit.  In addition, the harmonization of global taxation and the proliferation of regulations will significantly increase the cost of doing business.

A new business model emphasizes the security of supply and resilience over price competitiveness. Reliability is becoming the name of the game.

 

A BLACK HOLE ECONOMY?

A few large companies concentrate technology and financial power. The market capitalization of the ten largest global technology companies is now more than the combined value of their equivalent in the banking and pharma sectors.

Technological giants do not only innovate, but they have also engaged in a strategy of buying promising start-ups, often above market value. They use about 25% of their financial resources to purchase successful innovative young companies worldwide.

Countries risk suffering the consequences of a massive economic black hole at the center of which highly successful technology companies attract and buy young companies using their enormous free cash flow.

Thus, many nations could now lose promising young companies, which would have had, otherwise, the potential to become competitive national champions creating employment and paying taxes.

 

A YOUTHQUAKE?

The emergence of the millennials as consumers and employees forces companies to reassess their approach to products and markets

This new generation is driven by the following:

• “Meism”, which  is a self-centred approach to life,
• An eagerness for “transparency”, which means that nothing should be confidential;
• A willingness to “improve the state of the world”, primarily through sustainable development, biological diversity, energy transition, etc.
• A mindset that “free is cool”, which implies a reassessment of profitability models for companies.

 

This new paradigm reinforces Peter Drucker’s statement:

” Changes in society now have more impact on companies than changes in management.”

 

TIME TO BE BOLD!

“When everyone thinks the same way… perhaps no one thinks any more.”

Therefore, the disruption of globalization should also be a time of reinvention for products, business models and work structures.

The winners are those who will identify the numerous opportunities in a fast-changing environment quickly. They will also implement their ideas faster than others.

The succession of crises that we are enduring (pandemics, war, etc.) will accelerate change and innovation in companies. It will also imply spending more time adapting to society’s new expectations and employees’ evolving mindsets.

In short, it is time to be bold!

 

With meticulous preparation Stéphane’s fact filled presentations are rich with detail, acumen and invaluable insights.

 

Teemat: 2023: The Risk of Stagflation? | Lower Inflation Does Not Mean Lower Prices | New Chapters in the Book of Globalization | A Fractured World? | Reviewing the Security of Assets | State Capitalism and Industrial Policies | The End of Low-Cost Globalization? | Technology Companies Are Breaking the Entry Barriers | A Black Hole Economy? | New Business Models | Consumers Have Their Own Priorities | The Company of Tomorrow | A Youthquake? | A Mindset for Competitiveness and Success | Time To Be Bold!