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The WEF was founded in 1971 by Klaus Martin Schwab, a German-born business professor at the University of Geneva.[2] Originally named the European Management Forum, it changed its name to the World Economic Forum in 1987 and sought to broaden its vision further to include providing a platform for resolving international conflicts.
In the summer of 1971 Schwab invited 444 executives from Western European firms to the first European Management Symposium held in the Davos Congress Centre under the patronage of the European Commission and European industrial associations, where Schwab sought to introduce European firms to US management practices. He then founded the WEF as a non-profit organization based in Geneva and drew European business leaders to Davos for their annual meetings each January.[3]
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In the summer of 1971 Schwab invited 444 executives from Western European firms to the first European Management Symposium held in the Davos Congress Centre under the patronage of the European Commission and European industrial associations, where Schwab sought to introduce European firms to US management practices. He then founded the WEF as a non-profit organization based in Geneva and drew European business leaders to Davos for their annual meetings each January.[3]
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