Day two started with a panel on 'Fostering Entrepreneurial Innovation' that included Barry Salzberg, Global CEO DTTL. It was a really great session that brought home just how hard it is to embed disruptive innovation into a large organisation.
A lot of the discussion, though, was about product innovation and there was less about service innovation— which I see as key to our future success.
The role of innovation in creating more sustainable growth has been one of the main themes at Davos today. It means our own focus on the role of leaders, the creation of an environment to foster innovation, and the importance of paying attention to the societal benefits of innovation, has been hugely topical.
Deloitte has also opened an online forum at Davos that allows anyone to share their ideas on business, innovation and its impact on society. The best ideas are being transcribed onto a live scribe wall. You should see a picture on the right of both the wall and a very recognisable face. I've enjoyed seeing a small slice of our market leading collaboration facility, the iZone, transplanted into the Swiss mountains. I would encourage you to share your ideas on innovation through this online forum.
The other big topic has been Europe. This follows the Prime Minister's speech yesterday and his comments at Davos. It seems to me that the Prime Minister has set out a compelling direction for the UK and has made it very clear that he supports a strong UK being part of a strong Europe. I believe this is the right position for our business and reflects the opinion of clients I've spoken to, both at Davos and over the last few months.
Of course, we as business leaders need to recognise that many voters are sceptical about the benefits of Europe. That's why the new construct for Europe that the Prime Minister described needs to be pursued. At the same time, businesses need to make a stronger case with their customers and stakeholders on the economic benefits of being in Europe. There is also a risk that the prospect of a referendum in 2017 (or beyond) creates uncertainty. International businesses looking to invest in the UK have already raised this as a concern that may cause them to delay investments. They will need reassuring that the Government will continue to make the case for the UK's position as a strong partner in Europe rather than focus on the referendum to take place after 2017.
I'm sure we'll continue to discuss these issues at the Deloitte CEO Dinner tonight. With leaders from across Deloitte entertaining more than 100 clients, it should be one of the highlights of the week.
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