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 interactions generated inside each hub, between hubs and on a global level. Shapers also get involved in crossmentoring with other World Economic Forum communities. Since 2018, there is also a Global Shapers Alumni Network. As of 3 September 2018 there are 1,380 Global Shapers Alumni. The foundation also acts as a think tank, publishing a wide range of reports. In particular, "Strategic Insight Teams" focus on producing reports of relevance in the fields of competitiveness, global risks, and scenario thinking. The "Competitiveness Team" produces a range of annual economic reports (first published in brackets): the Global Competitiveness Report (1979) measured