World Economic Forum its name to the World Economic Forum in 1987 and sought to broaden its vision 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 American management practices. He then founded the WEF as a nonprofit organization based in Geneva and drew European business leaders to Davos for the annual meetings each January. Schwab developed the "stakeholder"
World Economic Forum and Tianjin, bringing together 1,500 participants from what the foundation calls Global Growth Companies, primarily from rapidly growing emerging countries such as China, India, Russia, Mexico, and Brazil, but also including quickly growing companies from developed countries. The meeting also engages with the next generation of global leaders from fast-growing regions and competitive cities, as well as technology pioneers from around the globe. The Chinese Premier has delivered a plenary address at each annual meeting. Every year regional meetings take place, enabling close contact among corporate business leaders, local government leaders, and NGOs. Meetings are held in Africa, East Asia,