WEF FULL FORM

Full Form of WEF : World Economic Forum

What is the full form of WEF?

No:1. The full form of WEF is World Economic Forum.
No:2. It is an NGO established in 1971 and headquartered in Geneva, Switzerland.
No:3. It is an independent organization committed to improving the world policies through consistent dialogues and partnerships.
No:4. The WEF is compose of eminent intellectuals, global entrepreneurs, and public figures who strive for the highest forms of moral integrity.
No:5. Unfortunately, though, in some cases, WEF has been accuse as an elite class living in ivory tower completely detached from reality.

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A Short History of WEF

No:1. WEF is a membership-based organization and features the top corporations of the world.
No:2. It was found in 1971 by Klaus Schwab, a professor at the University of Geneva.
No:3. Earlier it was known as European Management Forum and was change to World Economic Forum in 1987 (WEF full form).
No:4. Soon, the political leaders from different countries have use the venue for promoting their interests.
No:5. An invitation was extend to include the North Korean delegation for the summit of 2016.
No:6. In 2017 for the first time, the head of state from the People’s Republic of China was present at the forum.
No:7. In 2018 Prime Minister Narendra Modi gave the plenary speech and became the first head of state from India to address an annual keynote meeting at Davos.
No:8. WEF has highlighted climate change, change world geological patterns, and protectionism and terrorism as the major challenges faced by the modern world.

Mission of WEF

No:1. WEF is an independent forum and engages in consistent dialogues to facilitate the swift resolution of economic disputes.
No:2. The activities of WEF are shaped by their unique stakeholder philosophy and carefully blend the multifaceted features of different entities in the organization.
No:3. The members of WEF come from different walks of life and bring in diverse geopolitical views that consistently reshape the diaspora of this truly global nonprofit entity.
No:4. WEF believes that progress happens only when positive changes are affected throughout the world economy.

Impact of WEF

No:1. This brings a straightforward philosophy: to deliver the best and relevant minds and identify the ways to solve pressing global issues.
No:2. For 50 years, WEF has been the agent of change that has influenced the policy structures of many governments and settled thousands of international disputes.
No:3. This forum seeks to empower the world and help:
a). Shaping public policy through talks with key stakeholders
b). Working towards a collective goal for equitable distribution of scarce natural resources
c). Awakening the public through brand awareness programs and shifting the paradigm through consistent cooperation

Another abbreviation of WEF

WEF – With Effect From
No:1. WEF stands for with effect from and is use to indicate the start date of some application.
No:2. This is also use to denote to mean changes in prices from the aforementioned date.
No:3. It is normally use in legal and business matters.
No:4. It is also regularly use in WhatsApp, Facebook, Twitter, and Instagram by adults and teenagers since its quite easy to understand.

Some Examples of WEF

No:1. Trade restrictions have been impose with effect from 1st May 2020.
No:2. The government has decided to cut the tax on fuel and subsidies wef 6th May 2020.
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