Welcome to this CNBC special debate on Davos 2013, the global agenda and how the year ahead will roll. Crisis, what crisis? This is perhaps in recent years the first time we've come into a world economic forum without the dark clouds of some imminent problem on the agenda. In fact, it feels as though peace has broken out. The European crisis appears to be receding as a hot issue for asset markets. We see the United States debt ceiling being pushed down the road as an issue and the economy gradually recovering in the United States. And of course, the other part of that three-legged stool of risk, China, is showing promising signs of recovery. So what is there to worry about in 2013? Well, we all wish it were that simple, don't we? So let's introduce our panel and let's get into our conversation here. Joining me for our discussion, Federico Curado, President and CEO of Embraer Brazil. He's in the aerospace sector. Jogeta Label, Chair of Transparency International. Azutoshi Nishida, Chairman of the Board at Toshiba Corporation. Axel Weber, Chairman of the Board at UBS. And Li Daokui, Economist at Tsinghua University. And I am reliably informed a gentleman who will be going places in the PBOC at some time soon. But correct me, sir, if that information is wrong. But I don't think so. Let's refocus then on the issue at hand here. What are the risks for 2013? Well, right off the top, the World Economic Forum's own analysis once again brings up two very important challenges for the global economy and all of us going forward. One is the imbalance of income and the inequality that we continue to see. And the other one is fiscal imbalances. Now, we know that these issues have receded somewhat from the headlines as central bankers globally have flooded the markets with billions of dollars of liquidity. So are we being complacent? Or can we actually really start to believe that things are getting better for good? Axel Weber, I think I need to come to you on this one. As a former central banker now in the banking industry at a commercial level, what would your narrative or description of this moment of relative stability globally be? I think it's, as you said, in your starting moderation optimism. And the recovery is clearly there. There's the feeling around the rooms. The worst is behind us. There's a better mood now. We've seen really a rebound of the global economy. It's bottomed out. The US is strengthening. Asia continues to grow. European decision makers seem to be more united this time around and actually promise significant measures. But in my view, the mood actually bordered onto complacency. And to show how that evolved on Wednesday, people talked about the tail risk being reduced. By Friday, it was the tail risks are removed. And I don't think they are. I think it's pretty clear challenges remain. Expectations in particular to the role of central banks are too high. The role of central banks should not be overstated. I think some expectation management is in order here. They can provide relief for some time. They can buy time. But they cannot really solve the underlying deeper problems. And I think the time they bought and they clearly have and continue to do so. It has to be used to do credible structural reforms. Those are long-term solutions that need to be put in place. They will be painful. They will take time. And that was pretty much the message Chancellor Merkel delivered. I heard a lot talk about gross. And I heard a lot talk about deficits. I didn't hear enough talk about investments. And actually, deficits are OK if they are used for investments to make the future better. If they're used to fund growth that is unsustainable, we cannot actually justify them in an aging society where basically future generations are deprived of their future. So I think the mood has been good in brackets. Too good to be true. And therefore, I think some expectation management really clearly is in order at the closing session here. Thank you very much for the comments. If I can bring in Nishida-san from Toshiba because Japan has the latest central bank really to join the liquidity party. Now, I think Axel Weber is really on the money when he says the mood here among the business community has felt a lot better, even though some of the surveys done by the likes of PWC indicate perhaps business prospects may not be as good as last year when people tick boxes on forms. In the conversations we've been having while we've been here, business people do feel energized for 2013. Can I ask you, do you share that excitement about the growth outlook for 2013? And in the context of Axel Weber's rather somber warning about complacency, is it really a good idea that the Bank of Japan has engaged in participating in flooding the marketplace with liquidity? You know, when it comes to the Japanese economy, the new economic stimulus package will be introduced. This will effectively contribute to picking up Japanese economic stagnation. So from the recovery from stagnation will be seen. But even if Japanese yen is depreciated slightly, what is most important for Japan is to execute the new growth strategy thoroughly. In the past, many attempts failed, unfortunately. Probably more than 12 growth strategies were prepared. But none of them could successfully execute. So this time, new growth strategy will be prepared by new government by the end of June. What is most important is to implement this new growth strategy thoroughly. And so that the recovery from the disaster could be led to rebirth of Germany's economy. This is most important issue for Japan. And what about you as a businessman benefiting or seeing some updraft as a result of the actions of the Bank of Japan? Since Toshiba is involved in almost 30 for different businesses, from nuclear power business to small semiconductor business, situation is quite different from industry to industry. As long as social infrastructure-based businesses are concerned, these are going very well. But when it comes to digital products early like Color TV, personal computers, and also semiconductor business, which supports many electronic products, then the situation doesn't seem so optimistic, unfortunately, unless the consumption in European market and also in USA market could recover fully, will not be able to expect the great upturn of the business in those area. But for a time being, we'll try to improve our social infrastructure-based businesses much more so that those digital product area could recover.  And you come from the aviation sector from a Latin America viewpoint. Please help us understand the way that you currently see the challenges in 2013 around this issue of business confidence and how it relates to those three challenges that appear to have receded as real headlines so far this year. Well, receded or at least paused, put into the future, that created this sense of less despair, if you will, compared to last year. I see the world as an interconnected world, so I don't believe in any decoupling alternative. So even for emerging economies such as Brazil, but also even China and India, we just saw a panel a few minutes ago discussing that. Those elements that are still there, they represent a risk. And that affects directly and indirectly the emerging economies as well. The private sector, I believe, requires, as we have more and more confidence on the recovery and the solidness of the solutions. On the long-term recovery prospect, the investments will be made. The corporations around the world, they are sitting on probably an unprecedented amount of cash. So the question is stressed. So hopefully, all the good feelings that we sensed here this week, and I'm in agreement with what Mr. Weber said, maybe too optimistic, hopefully that optimism will translate into investments. Because I think the underlying issue is jobs. I think this is the actual most important point of the crisis in the world, is the unemployment. 202 million people unemployed in the world is a huge issue for everyone. Let me bring you in on this. Because we know that there are negative social consequences of such high levels of unemployment. Could you share with us some insight as to what risks we run through this year unless governments and businesses engage more meaningfully with the challenge of getting young people and the long-term unemployed back to work? Well, I think that when you look at the issues individually, we can see a lot of improvement in certain areas. It's when we look at the combination of each of the issues that are with us today, including the one of very high youth unemployment in many countries. And in some countries, people below the age of 30, the population below the age of 30 is 60%, in certain countries, up to 73%. Even if half of those are not employed, you can imagine what that means. But it's also some of the other issues that are on our table today. You mentioned inequality, of course. Financial crisis is not over. Corruption is a major issue. It feeds poverty. It seeds violence. It seeds illicit trade in drugs, in arms. That's another kind of issue. We've had civil war. It's not over. We have some new civil wars and social destabilization. So when you look at each of these and you add to that some of the pressure on our natural resources, if you look at the waterways that are shared today, it can be part not of a future crisis 50 years from now, but even starting as we speak. So it's the combination of those combined with the lack of trust in our leaders in industry and in government, which unfortunately doesn't seem to go away. And that trust has to be regained. And of course, there are ways, I think that this can be done. But you also had to that the instant connectivity of people and the fact that, which is creating people power of a very different kind. And where our youth, I think, are increasingly engaged and savvy, I met at the forum a few times with our young people. And I'm always so impressed with what they bring to us, which we are not using at this stage. And they're saying, for example, our curriculum was established a number of years ago before technology became what it is. We need now to bring that technology into reshaping the curriculum that we need to have as we go into higher education or even in primary or secondary school. Axel, I just want to bring that point to you because the case has been made that with through the worst of the emergency, the central banks have facilitated an uplift in asset prices that have brought equity market valuations back to where they were pre-crisis. But what that has done is it has made the owners of assets richer, it hasn't helped the poor or the unemployed. And in fact, we haven't really yet seen a sustained focus by policymakers on actionable ways to address the unemployment crisis, particularly as it affects Europe. Is it time in 2013 for policymakers to stop thinking we're in a crisis and start dealing with some of the consequences of that crisis which has been higher unemployment through austerity and people who own assets getting richer as a result, perhaps unintentionally, of the liquidity central banks are creating? Well, maybe in terms of the question you pose, I would phrase one point differently. Some of the austerity we're seeing is not a deliberate turnaround in fiscal policy. It's the result of having lost market access and confidence of markets and therefore having to basically scale back on expenditure schemes. So what we're seeing is partly the reaction of a deep crisis of confidence. Now, my view is, and it's similar to the company that I now help steer through troubled waters, we've changed our strategy. We made bold announcements in summer and actually our stock price moved up by more than 60% over half a year. Now, we understand and pretty much you see the same here, policymakers have made commitment, the mood is better, spreads have come down, so it's a similar situation. When I look at us at the bank, perfect execution is priced in. That's the same for policy, but if perfect execution is priced in, the risks are to the downside and that's what people forget. So what is needed is disciplined, on-track delivery of everything that was promised. As soon as slippage on reforms, as soon as monetary policy promises are not kept, as soon as anything happens relative to what is priced in and there's optimal at this point, you will see uncertainty come back. So it's similar to the corporate world that I'm dealing with and I think policymakers have to learn from that. What we saw last year was a lot of debate about the way forward and if you do that publicly, it's as bad as in a company.  If policymakers debate in the open, what's the best way forward? That's not a good way. What you need to do is you need to make clear announcement after having had a good debate internally and then you need to execute. So on the way forward, what we're seeing is I think monetary policy for where we are now at this stage of the recovery is starting to be too loose for that part of where we are. So I mean, I hear that central banks actually are continuing to add liquidity and the liquidity that's already there for three years, a zero interest rate environment, balance sheets that are 30, 40% of GDP that's at wartime highs. We haven't seen balance sheet relative to GDP as large since the Second World War. And what it does, it basically produces a difficult environment for investors. Yield curves are flat. Investors are really having a hard time to understand the true value of any assets they need to price and trade. And so there are some risks related to these ultra-loose environment. And as we go forward and keep these ultra-loose policies in place, those risks are increasing. And I think policy makers need to be aware of that. What they need to deliver is a credible commitment to keep policy lose as long as needed. They've done that. What we're now waiting for them is to give us a plan, a credible commitment on how they're exiting these policies as the economies are coming back. And that's the part I'm not seeing. That's the part we really have to ask from policy makers and to do the reforms they've promised. Buying time was one thing, using it for the right things in terms of reform scope for competitiveness, jobs for a rebound. That's what is needed now. Lee Dalquay, let me bring you in on this because in my experience of discussing these issues in Asia, particularly as they focus on Europe and to some extent now with the debt ceiling and the fiscal cliff in the United States, I see eyes roll, hands raised, confusion about the policy mix that is being pursued that leads to such high levels of youth unemployment, people being thrown on the scrap heap of long-term unemployment, measures that apparently are designed to meet some criteria set by a group of policy makers but seem to have only negative social consequences. China wouldn't let this happen, would it? Well, the Chinese story is very different. In the Chinese case, fundamental forces for growth are still there so that this year we've seen a gradual, last year a gradual recovery and this year the momentum will carry through so for the Chinese case, in the Chinese case the fundamental question is whether necessary reforms will be carried out in order for the economy to be still able to roll down the road five years from now, 10 years from now, a good thing is that the new leadership came to stage towards the end of last year and the early signs indicate that they are clear commitments to put towards pushing through the reforms. This is China's part. I may also want to add something, follow up something on the previous comments, right? I do worry about potential risks in 2013, which I don't think we have discussed enough about. That is the US situation, right? In Europe we've seen some meaningful progress through promises delivered by politicians. In the US, my observation is that not even promises, right? Not even enough discussions are made, right? All we have seen is that the difficult problems are pushed back. Say several months down the road and I do worry the scenario of July 2011 may come back in 2013. If that happens, a nasty dynamics will travel through the financial markets and various negative consequences will be felt in many parts of the world besides the US. If you were a betting man, and I know gambling is popular, but sometimes frowned on in Asia, but if you were a betting man, what odds would you put on that happening? I would say there is, well, first of all, for the in China, inside China, I've been telling my friends and oftentimes policy makers, we have to be prepared for the worst scenarios, right? For this situation, for the world economy be thrown back into a kind of confusion due to the nasty discussions in the US about the physical consolidation or restructuring through the financial markets. Now, in terms of probability, I would say very safely, I would say 30% chance for this to happen in the US. I worry, at least from me, very conservative, very cautious perspective. Axel, can I bring you in on that? What do you think, 30% chance we revisit the crisis? Having been a former central banker, I really don't like discussing probabilities and risks. So it's not natural to me to put odds on things.  So, yes, there is an issue, not just in Europe, there are issues in the United States and sort of around the turn of the year in relative terms, European politics looked a lot more relatively more competent. But the issue really is, look, there is a deeply divided debate in the US about big government. It's not about the end of the year. It's not about the debt ceiling. It's really about the only thing between, and that's the situation often being portrayed like that, the only thing in the United States between what many perceive to be big government is the debt ceiling. So it's an instrument that's been used by both sides for a very fundamental debate. How much Medicare, Social Security and entitlement programs can you afford in an aging society whose demographics have turned and the current environment isn't fully reflected that. That's a much more deep debate and it's not about March and lifting the ceiling. It's more about can the US develop a credible entitlement and Medicare and basic Social Security environment and at the same time deal with the dynamics of aging in a medium to long term. And that is a debate that I don't expect any time soon to be resolved and that's why I expect for some time we'll see a lift up of say the debt ceiling by small amounts just pushing that debate out to have it orderly but not really a big resolution. And that's been already clear at the election. I mean, it was a pretty close election and there are different views in society in the American civil society on which direction to go. We in Europe have a pretty undisputed European model that involves a lot more of social cohesion and inclusiveness when we talk about growth. Unfortunately for Europe, we talk about zero growth so inclusion is even harder to do. It's all about rich versus poor, north versus south, old versus young. And that's a very divisive discussion if the cake at all doesn't grow. Totally different in China. If the cake grows between 7.5, 8 or 9%, it's all about inclusiveness of growth, not leaving anybody behind. There is just no legitimacy problem in China for an emerging middle class to be affluent. The issue is can they manage as an affluent emerging middle class to take those that are standing outside and on the sidelines of society and economic dynamics, can they take them into that path? And that's the urbanization debate they have in China and it's a totally different economic environment and political debate. And I think our societies need to deal with that as going forward. That's the big moral obligation we all have to make growth inclusive. And I think that was a debate that started here. I've seen it in some of the sessions and it's important to continue that. Just before we leave this area, is there one actionable on this issue of inclusiveness to address social issues of the austerity that we're saying that a panelist could share with the audience that really we should be focused on for 2013, that we need to get on with. Craig. I may contribute with the Brazilian recent years experience. The classical debate about making the cake bigger before distributing it better or distributed before it gets bigger. I think it was somehow answered with the social programs in place in Brazil, the hunger, the food program. And after decades, we grew a lot due to the inclusion of about 30, 35 million people into middle class, so living poverty into the middle class. So it is at least one example of how inclusion actually cross feeds an economical model. I'm not saying we don't have, we have no problems. We do have issues, of course. But I think it's a good experience and it's real. It's there. And it is an improvement for society for sure, brings social, releases social tension. And it's fair, of course. So let's talk some more about the search for growth and let's move off the problem, shall we say, of fiscal imbalances and to a certain extent put aside the question of unemployment. What I have heard a lot here that I haven't heard in many previous recent Davos is, is Africa is no longer a frontier market. It is a growth market. It is ticking along at five to 6% as a continent and we need to be there. That's the business community's view that's been coming across loud and clear. On the other side of the coin, what I've been hearing is more instability in the Middle East. The Israeli election outcome has thrown some doubts into people's minds about what 2013 will bring. The tragedy in Algeria, again, has made people refocus on risks rather than opportunities in that particular region of the world. I wonder if I might run along the panel and get some thoughts on one, Africa, and whether it now is really time to go in if you're not already there and to whether you're still willing to go back and try and invest in the Middle East given some of these issues that have come to the fore since the year started. Let me start with Japanese friend, Mr. Nishida. I may not be the right person to answer that question because we are not so active, unfortunately, in Africa so far. Of course, there will be a good chance, you know, for our growing in that area, but including the social infrastructure related businesses, we are investing in a fairly limited country like South Africa, you know. When it comes to Middle East, then of course we have a close relationship with many countries in Middle East. So we may be able to find out a growth chance, including power business. For example, thermal power plants and also nuclear power plants, you know, over there. What we are looking for right now is Asian countries. Athean countries, they are growing very fast. So we definitely need to cooperate with them so that we will be able to support them so that they could construct a very well, you know, arranged social infrastructure since they are also facing environmental issues. From our point of view, Japan is slightly advanced in controlling the environmental issues. So we will be able to transfer those technologies to them and we can make new businesses over there. That's what we are thinking right now. Okay, so Toshiba continues to focus on growth in the Southeast Asia region. Fred, can I bring the conversation to you? Africa, the opportunity is pushing into African markets just another example of the search for growth and the willingness to take on more risk for that growth because traditional markets maybe are not growing any longer. Well, particularly in the aviation sector, you know, a five to six percent growth perspective in the continent, especially in the continent as large as Africa, which has relatively poor infrastructure. It is a plus for aviation because airplanes will be the fastest way to move people around and probably the easiest, requires the last investment to be the growth engine of a movement of people in cargo. But I've taken a broader perspective on Africa. I believe, and I participated during this week in several sessions with African ministers and I think there's a clear consciousness from the various people that I heard about the need to really strengthen the institutions in Africa. Before this is in place, at least that's their perspective. There will not be a big inflow of investments into Africa because of course, you know, having the fundamental institutions working properly is a basic assumption of investments. So there will be my comment particularly the aviation sector, positive, but I think there is a lot of homework to be done until you see massive FDI into Africa. And do you have a view on the Middle East and the challenge for 2013, for business in that area? Yeah, in the same line, of course, when you have geopolitical tensions as we do it, as we see there, this tends of course to make people more cautious about investing locally. I think it's inevitable. Fugeta, can I bring you in on this? Because we know both regions are plagued by issues of corruption. It's something that we see all around the world, so let's just not isolate these two regions, but without deep-rooted institutions, the kind that Fred is talking about, it can create the breeding ground for inappropriate activity. Absolutely, and of course, a lot of what the resources that the world wants now are in Africa, because they have not been exploited so far, and the way that this is done can make a huge difference. Either one can exacerbate corruption, rob Africa of its resources, and leave very little behind, or the enterprises and governments together, and multilateral institutions have very essential values right up front of transparency, of ensuring that all that is being paid to governments locally, taxes, royalties, concession fees, are disclosed publicly, and expect that the governments will also disclose their revenues. We talk about inclusiveness before, to ensure that this leads to the inclusion of the communities where this is happening right from day one in the development of the agreements, or the national government, so that the people are able to see what it is that they will have in return, but also what it is that they can contribute, and you were talking about inclusiveness before, and this is where I think that you cannot leave people behind, you cannot leave women behind, and you cannot leave young people behind, because through the development of these resources, you can really bring a different kind of social infrastructure, you can deal with corruption, prevent it, and deal with it, and you can also ensure that the physical infrastructure, which is so important in many of these countries, is also there for everyone to benefit from. Thank you very much. I obviously don't need to point out the China-Africa connection. So Mr. Lee, can I bring you in to comment? I found the discussion very, very interesting. Sounds like feasibility study. Sounds like nothing has been happening in Africa. To the contrary, lots of things have been happening in Africa, and mainly positive. I've been to Africa and in forums like this. My favorite friends are African friends. I often talk to them, and also in other fora, talk to my African friends, asking what's going on, and what are the problems. Seems to me, it's very clear. Seems to me what's going on there is that first actions are already there. Investments are already there. I'm talking about not only investments in mineral stuff, but also infrastructure. And these investments are generating spillover effects upon ordinary people. Of course, there are problems. The problems, in my view, first order problem is not transparency or feasibility. The first order problem is how to mobilize local people, the local population, make sure they are employed rather than for the Chinese companies to bring Chinese employees. That's secondary. But I think, first of all, actions are there. Hopes are there. That's most important right now. What will 2013 bring in the ongoing relationship with China and improvements in infrastructure? Given that we've seen some settling down of high commodity prices, the same profit imperative may not be there to drive investment. Well, I do see that 2013 will be one year of continuous change in this regard. That is for Chinese investments in Africa to be gradually more integrated into the local community. I don't expect drastic changes in this regard over one year. There are forces on the ground to gradually bring the Chinese corporations to the realization that they have to hire more local people. They have to generate to more social investments. So I do see positive changes, but these changes wouldn't be there overnight. These changes are already in process gradually. Excellent. Sorry, did you want to come back in? I just want to add that there are two very interesting tools that now exist. And one is the Extractive Industry Transparency Initiative, which hopefully would go beyond oil and gas but include mining and forestry, where one would hope that the industry is working in all of these countries, not just in Africa and the governments, would agree to this agreement, which is an agreement of full disclosure of working together. The other one is the Responsible Mineral Development Initiative of the Forum, which now is in its third iteration being modeled in different countries. And I think these are very interesting examples of tools that already exist to improve that situation that we're talking about. I don't disagree with this theory. However, my observation of economic development in action is that you have to start somewhere. You first have to have investments, then you generate discontents about corruption, then you develop the institutions to fight against corruption, rather than imposing conditions of cleanliness before making any investments. You have to start somewhere. I would just like to add that if you don't build transparency and a prevention of corruption right at the onset, once it comes into the fold and gets infiltrated, it becomes extremely difficult after for even institutions that are meant to fight it to be able to really succeed. So here we have a good discussion. Let me bring you in with another perspective. Everyone's saying that there is hope. Yeah. There is a hope? Yeah. There's big hopes in Africa. I agree with that. But I really don't see things as linear as you described. I think things, they have to happen simultaneously and without a profound change. And there has been progress? Absolutely yes. But we obviously talk to different audiences. And I have people. I'm not an expert in Africa. I say that upfront. But there are several concerns about the current model. And I just don't see a picture as beautiful as you described. OK. So let's agree to disagree on this point. And let's move on. Axel, I want to bring you in because I know the banking industry in particular is very engaged with the opportunity that it sees in Africa if it's not already there. But I know most international brands already have a presence in that region. But could you also compare and contrast maybe a little bit with the Middle East? Well, I guess, you know, if I look at Africa, really what we saw here and heard was the 5% to 6% growth has been a silent revolution. It's not been talked about a lot. And really, as we heard in the Crystal Award ceremony at the start, inclusion in Africa is largely about dealing with issues that many of our countries don't have. Dealing with the HIV threat. And basically assuring that there is a basic health care and Medicare for the population there. It's very, very important. Infrastructure building is going on. Institution building is going on. Mobile communication makes, even in remote places, education accessible. So the future of Africa is the development of its human capital. And they've started that and we're seeing it pay off. And I think that's very encouraging. And all of these things need to be done. The other issue that was discussed here on inclusion, women empowerment, gender diversity and dealing with that, increasing women's share in income in a sustainable way, attacking gender stereotypes at work, all of that is very important in our societies. It's making money work with families in Africa that is very, very important there. And you know, one thing that these economies respect a lot more than we do is the circular economy. So dealing with the environment, respecting planetary boundaries, inclusiveness of crows, eliminating waste, that's all issues that will be very decisive for Africa's development. We've gone a long way in not dealing with that in a reasonable fashion. So and to my own industry, to banking, yes. But look, if I look, we're starting in banking in Africa. Basically our base in Africa is South Africa. We're dealing across the globe with a small client base. The industry, the financial industry has different challenges and we heard that. Using, for example, credit card payment to bring means of payment to a broader audience that doesn't necessarily have day-to-day access to cash would be very important to be able to bring consumer services to these areas. Straight through internet payments, these are all things that will change the face of Africa and of remote areas and we need to develop that. And I think the banking industry, that's an area where we can show that the type of products we develop are actually good for your well-being of the citizens and they can be used to improve living standards and access to education and other areas. So I think the banking industry has a long way to go after this deep financial crisis to really prove to societies the value added of what we're doing and I think we've only started on that road. And we've seen a lot of regulation and it's the right thing to do. There was capital, liquidity standards. A lot of things have been done but not everything is yet dealt with. The industry needs to develop credible standards and fill the gaps that are still there. We need to show, for example, that in terms of compensation and conduct that we develop our own standards that are accepted by society. There's a big gap on that now and I fear very much if the industry doesn't move on those issues and drags their feet it will be a very, very big backlash that we're seeing in the civil societies if that's not coming around. Now, there's a challenge for the industry that we need to deal with. So I guess all of us have different challenges but believe me, being in an industry that comes out of a crisis of a century, the feeling of a lot of work left to do and big changes needing to happen is still there. If you'll just excuse me for personalizing this for a moment, you'll know Edelman put out a survey on trust and bankers, I think, come in, what, just a little below governments. But central bankers, I think, probably somewhat higher than both and in your career change, you've effectively now brought yourself into the group below governments.  That was even above politician central bankers and bankers so you could sort of characterize my career. Continuously picking the wrong choices and going down the social acceptance letter. I'm okay with that but really, you know, not joking, we need to, and the one thing you do see is behavior standards and also ethical background and the way we are perceived in society is quite different between the three groups that I talked about. And I've been a member of all of those for some time and it's pretty clear, as an academic, the one rewarding thing that I always felt which drove me into that profession as a young man was, when you are teaching at university 19 to 22 years old, who have sparkling eyes because they have a great future, that's where you can make a difference. And again, if you're interested with keeping the currency stable, that's where you can make a difference for a lot of people because it's the poorer parts of society. It's those that have small incomes that suffer most if the purchasing power of their money is eroded. So I feel all of these jobs have reasonable mandates that serve the larger society. With banks, it can't be all about profit making. It has to be banks need to prove their value to society moving forward. And if you look at the last crisis, it wasn't the kind of things that were criticized that had to do with retail services and what we provide as client services to retail clients. It was the self-interest and it was the investment in proprietary trading that got out of hand. It was the explosion of trading books rather than the banking books where we provide credit to fund investments in the real economy. So I think banks need to go back to basics and just to put in a word for UBS in Switzerland, which is always a good idea because in Switzerland, the perception of UBS is not very good at this point. We're about to change that and it'll take time. The point is going back to those basics is part of what our new strategy is and that will prove it's a long race. It won't be a quick fix. It'll prove that banks have something to offer for the social society. Let's just say on this issue of trust for a little bit longer here and I want to bring you in, Huguetta, just to help us understand where in your organization, you rank various bodies, various entities in terms of the trust index. I think what we do is to really get from the people of our countries what are the institutions that they feel are more vulnerable to corruption, for example, which are the ones that are more transparent or instead of hoarding information into their fold. I mean, there's no question that when you look at governments around the world, those that are more transparent those that put integrity as a fundamental issue. Those that have higher environmental stewardship, respect for human rights, who are more inclusive in terms of ensuring that you hopefully have less inequality, more inclusion of women in the kinds of ways you were talking about and young people, where the rule of law prevails. I think that and where there is accountability, where the governments do not feel that the resources, the information belongs to them, as opposed to saying we're only the custodians of the resources of the people, of the information of the people and therefore this is our basic rule. And I go back to the beginning of Devils and to words from Klaus Schwab, which I thought was very important, when he said, you know, we are the trustees of our common future. We are all stakeholders and we need to have moral responsibility to our endeavors. Otherwise, human mankind cannot survive in the way that we want it to survive. Thank you. Thank you for that. Nishita, can I just turn this on its head for a moment? So who do the companies trust? You as a corporate, who do you trust? Who do you trust? Because we talk a lot about people don't trust companies, people don't trust banks, people don't trust governments.  Who do you trust? That's a very difficult question to answer. Do you trust your government? Do you trust the people to make the right decision when they walk into the electronics store? As long as corporate management is concerned. If you don't trust your employees, you will not be able to expect any good result from them. So this is a must, you know? Trust, mutual trust between management and employees. This is a driving force, especially in case of Japan, driving force to expect better improvement, better result and good success. Thank you very much. That's a very good answer. So we're very close to the end of the program and I just want to wrap up here. I started off by saying, what do we need to worry about in 2013? And I think we've had a really good conversation about a lot of the issues and agendas that are out there for 2013. But I want to focus on maybe some things that are just off the radar screen for most of us, but because of where you are, you can see these things coming or perhaps you can prepare for them in case they do come, although they may never. And I'd like to start, Mr. Lee, with you at the end. And I'd like to, if you don't mind, just throw in the idea of social media because I'm very intrigued about the developments that are taking place in China and the encouragement now for citizens to spy on party officials who may be doing inappropriate things and use social media as a mechanism for reporting that information. I think this is something that's almost happening organically rather than being encouraged, but it is an interesting disruptor. It's an interesting development. But if you don't want to deal with that one, feel free to pick your own. Absolutely, social media is now a means of progress, of change, definitely.  What kind of watch? Whether it's a switch watch or it's a Japanese watch. If it's a switch watch, maybe it's beyond the person's official income, then corruption investigation can start. Very simple example of social media changing the behavior of government officials. So here, let me go back to something. We have to start somewhere. Economic development has to start somewhere. You first have to invest. You first have to empower people. You first have make people have a sense of improvement of their livelihood. Then you generate discontent. Then that push through social media and new technology the progress of institutions. Is it always a healthy thing and does it create negative feedback about trust?  Are these conversations on social media necessarily useful in encouraging communities and people to do the right thing and feel the right way about how their lives are run and how other people live their lives? Certainly, I think they are dangerous. The dangers are in the government reaction. It takes two parties to dance. It takes two parties to make progress. The general public are making good use of the social media technology. However, many local governments are not realizing that they have a responsibility to respond positively to the discontent voices through social media. And if they are not responding effectively, then distrust can spread very quickly like cancer. Otherwise, if they respond positively, then positive dynamism can emerge. Axel disruptors, what do you say? Anything that we need to worry about this year? I think we need to worry about a lot of things. My biggest fear is that 2013 could be a replay of 2012, another lost year, for example, for Europe to recover. Remember when we came last year into January, February, March, markets were risk on, markets were going pretty well, investments were booming, it was record profits at the start of the year, the typical start of the year, good part was there. With the Greek elections, the French elections coming up, changing perspectives for policymaking, the whole picture in Europe changed and it needed the ECB to step in and calm the mood in July. We have the French election coming up, we have the Germany election, there's all sorts of political risks out there that could easily change the perception if they lead to a major difference in our countries and it where governments commit Europe to go and therefore we shouldn't be complacent. I think we haven't really fundamentally improved that much, we're more united in promising progress but that progress needs to be implemented, put to work and put on the ground. So I am not at all relaxed. We need to watch all of these things out there. There's a huge number of tail risks out there that we need to watch and we need perfect execution, as I said before, of all the European and the US fiscal plans and monetary plans for this year to work out better than 2012. If I can bring the other panelists to pretty much a one or two word answer if they want to comment on this, disrupt us? I would say that I think that the civil unrest can spread if one is not very cautious about it and I would say we haven't talked about the importance of local governments where this is a new frontier where we need to spend much more energy on as not only at the national level and so to me this is something that can create major problems and to ensure that the people that are unemployed, that unemployment does not increase, that we can reverse that trend. If people feel that they are disposable assets, I don't think that they will just sit back now with people power and the tools that we have for them to connect with each other. Well, thank you very much to our panel for enjoying us in this conversation. You know what, let me just do that again. That wasn't very good in TV terms, so I'll have another guy. You can do that. I can do that. It'll be edited. Although people will be watching this live, so you didn't hear me say that if you're watching live. So let me now just thank our panel for their contributions in our conversation about the global agenda. It's been a real pleasure having you all with us. Thank you very much for tuning in to this CNBC special and we'll see you next time.


Exosomes were purified using ultracentrifugetiphogen and filtration steps, and detected by electron microscopy and flow cytometry. RNA was detected in all three body fluids, with a portion of the detected RNA in plasma exosomes being characterized as mRNA. The study also reports for the first time the presence of RNA in breast milk exosomes. Additionally, the saliva and breast milk exosomes were found to be readily taken up by human macrophages, supporting the notion that exosomal RNA can be shuttled between cells.


So we are thrilled to have our guest join us to talk to us about pursuing a degree in nonprofit management and we have Christina Mann joining us today. I'm so glad to have you here and I'm excited to jump into this conversation with you. But before we do that, Christina, we of course want to make sure our viewers and listeners know who we are or at least have a reminder of that. So hello to Julia Patrick, CEO of the American Nonprofit Academy. I'm Jared Ransom, your nonprofit nerd CEO of the Raven Group. We are so extremely honored day in, day out to have the ongoing support from our presenting sponsors, also known as our besties. Over at Bloomerang American Nonprofit Academy, your part-time controller, nonprofit thought leader, fundraising academy at National University, staffing boutique and nonprofit nerd. Julia, I know we do this often, but I like to remind our viewers and listeners that these companies are here for you. They're here for our missions, critical missions around the globe. So lean into them because they want to lean into you and your mission. So fantastic group of leaders and without their support, we wouldn't be able to have such a robust archive where you can find all of our 750 plus plus episodes, including this one, Christina and just a mere few hours. Roku, YouTube, Vimeo, Fire TV, as well as those podcast listeners, queue us up there. I plan later today to take a long walk on the green belt and I'm going to queue up the nonprofit show. So awesome. Well, so really excited, Christina, to have you here, Christina M. Mans, and you are working towards your degree in nonprofit management. So excited to have you. So first of all, welcome. Thank you so much for having me today. It's a pleasure to be here. Yeah, tell us a little bit about where you are, what you're doing. You know, we just jumped in an elevator together. We're going up to the floor.  Absolutely. Well, I've been working in the nonprofit space for 25 years. And I like so many of us started by just being in that space and not having any formal training. And so I learned by doing, I learned by observing others. I eventually learned by watching webinars, reading articles, and listening to podcasts and I still do those things and they're exceedingly important for us to continue to do those things and to never stop doing those things. I'm thrilled that I found both of you and the nonprofit Academy and the nonprofit show, because I love your content. It is exceedingly valuable. I love the straightforward program format, and I'm happy to be a part of it. But what I decided was that I was in a season of my life where I could make a change, and that I knew I needed to pivot and I needed to up level. And I currently work in higher ed, and I've worked in private education for many years, often on in different capacities. But last summer, I decided to take my education and professional development super seriously and I started looking at programs. And I live in an area where there are a lot of universities. And I found Drexel University, which happens to be local to my area. They also offered a master's in nonprofit management through the Goodwin College of Professional Studies. They also offer a certificate in nonprofit management. So I pondered whether I should take the certificate program, which would be compressed, and an introduction to a multitude of topics in the area. When I was doing the background information for the full masters, it spoke directly to me, I thought this is for me, I'm doing this so I put into motion the entire application materials and process. And I was thrilled to be accepted into the program. And my first quarter, it's a quarter semester, it's a quarter program. I'll explain that just briefly, it's a two year program, it's online, and we take two courses at a time. And we're all working adults. And then we have two classes worth of homework that we must address each week we get weekly assignments. And there's a learning portal that we submit all our work into each week. The classes have offered live sessions with the professors and our cohorts, which enables us to have that FaceTime, it's virtual, but we have this type of FaceTime together to get to know one another which is nice to have it puts the names to the faces, and helps make it feel more personalized, which I appreciate. So I feel that this is a blessing to me that I'm able to do this. It's an enormous challenge. I bet. Get into that in one of the other slides. But the reason to pursue it was that I felt that doing the webinars and the article reading and the podcast and observing others felt piecemeal to me I felt like it was a la carte and I didn't have the context for how this all works together even though I work in a in a nonprofit and I wanted to move into management. I want my next success story and my next adventure to be in a managerial position. I want to be able to level up in that way and be in a creator's position. And in order to do that well. I have an executive director one day who knows what the future will bring, but in order to do that I really wanted to have the foundation and build up step by step right here's my visual aid step step step. So that I would understand how all the pieces fit together. Well, thank you so much. Very insightful and I, I, I giggle a little bit because I've heard a lot of professionals like yourself say they are working their way through their career by Googling, you know, how to do this how to do that and and I'm just as you know, guilty of that I go in all the time because best practices are changing dynamics are changing workplaces are changing. So I'm really curious to hear more from you about how you and you shared you know you're currently working at an organization. How are you managing your current workload plus this you know, professional environment and and how you kind of merge those to I love hearing that it sounds like your entire cohort Christina is probably doing the same thing. We are, I work full time at an independent liberal arts college, and I'm an academic administrative assistant supporting for departments in the sciences. And so I support the faculty and the students in those areas. A lot of my work is event management and event organization and working in logistics and making sure faculty have what they need to do their best, best work. I work in supporting processes and work, collaborative across departments, managing meetings, I work with when they do faculty searches, organizing meeting and logistics for the people who we need to bring to the campus for or on the other end of things, supporting the faculty reappointment process. And I also help to organize a, a summer research cohort and I do all of the registrations for them. So a lot of detail and travel arrangements for field trips and that type of work so I wanted to paint you a little bit of a picture of what I'm doing all day. And it's not eight to five. It's like it's all the time. Right. This is an interesting question. I am nine to five. And I do. I am, I do set a boundary with that. Oh, you do. Good. Yeah, I set a boundary with that come five o'clock or sometimes I have to work till 515 or 530. I'm at a point not to answer those emails if they come in after five o'clock, because I'm not, I'm not on, I'm not on the clock. I'm not on duty. Of course, I still care all the time. I care very much. And, you know, I, I put everything I've got into it when, you know, while I'm there, sometimes there's a special project on the that that leads into the weekends and I'm there for it. I will do whatever it takes to be successful in the completing the task. But here's what happens. I have a commute. Six o'clock suppertime by by seven. It's homework time. So from seven to nine minimum, I am reading. I am writing and I am responding to my peers. Wow. Sometimes I go till 10 sometimes I go till 1030. But to be honest, at my age, it's really tough to have a fresh brain after say 930pm, because I have been up since six a.m. and I've been doing all these other things. And you're, it's just, it's proven. We are not able to absorb information as well when we're when we become tired. And we're not going to be as creative at those hours. So my threshold is 233pm. And then my eyes start to get a little blurry, you know, so I can definitely empathize with this. It sounds like you're really managing quite well the schoolwork as well as your work time, but it sounds like it has to be quite regimented, right. And so I love that you say, you know, I honor my boundaries, I honor this time. It doesn't mean that we stop caring, but you're really managing the course rigor and the time it sounds quite well. I, I have to because there's, like I said, there's only so many hours in the day, right. And you have to find a way to be balanced to I have to plan rest time. I have to plan downtime and frankly time away from screens. It's such a screen based life we're living. And for our my own wellness. I have to actually make sure that I say, no, that's it. It's time to go to bed. It's time to get off screens, or it's time to take that walk time to get that fresh air. And so I, you know, I also involve I'm going to pivot a little bit and I'm going to go right into the managing the rigor and the time is that I'm also a founding board member of a startup nonprofit. And we are in the, in the early stages, I'm working with the founder. And I'm really excited about that work, but it's so serendipitous to be taking this coursework now because I'm able to directly apply the best practices and knowledge that I'm gaining directly into what, what I would say is our manuals. Is our manuals for our boards communications practices, all of the things that we need to do to be successful. So I'm very excited about that. But the rigor is there, make no mistake about it. Yeah. Sometimes I have 10 articles to read. Sometimes I have to write a two to three page paper sometimes it's a seven to 10 page paper luckily that's not all the time. I make sure that I'm responding to my peers every time and that that peer response is so important. And it's really where a lot of learning happens. I feel like what's also kind of wonderful about the rigor and the grad student environment is that the, the professors are accommodating if you have a big project do at work or if life happens so to speak. If you're just not going to make a deadline, you just communicate that to them and they will accommodate that I have been able to turn in all of my assignments on time and I feel very proud of myself about this. Yeah, you should. Sometimes it, you know, it has gone right down to the wire, and I did it I've been trying umph it and so I'm trying very hard to stay within the frameworks that they've, that they've developed for this. And the, and the professors also say we don't want to give you more than you can handle we know it's a lot. So there's acknowledgement there there's good communication about that. But after returning to college after a 30 year hiatus. It is a challenge. It's, it's, if I was doing this in my 20s, I would have a different energy level. Like you said past, you said 3330 but like past 930 it would be different. There's no, there's no all nighters being pulled. There's no hordes of caffeine being consumed that just doesn't work for me so Like during your day.  Are you having to read articles during lunch or are you kind of pivoting a little bit, or are you really segmenting that off and off hours. I am it's lunch and learns all every lunch is a lunch and learn. Okay, okay. I'm just curious about that because there's so much to pack in, and if you don't give some breaks. Find time for the nonprofit show. I'm honored. How does this work. Maybe we can be an assignment through your degree program if you can talk to your professors about that. Absolutely. Absolutely. Yes, and I'm happy to integrate in any way that I can. Well, it's so needed we talk often about 1.8 registered nonprofits in the US, you know that number fluctuates. But the other thing that you know we see often and I'm really curious Christina if this was kind of the impetus for you going back to school is, you know, I remember. Um, excuse me and the economy crisis of 2008 910. A lot of people went back, you know, to further their education. And I think we saw that trend as well starting in March of 2020. Was that part of you wanting to get back into, you know, kind of the the coursework. I wouldn't say directly. I had some other life circumstances happening and so it was just closing the chapters closing the book and I needed to start a new book. So yeah, it was just it was time. It was time and I knew that I wasn't satisfied with the way things were just as they were. And I want and I, I was already so interested in these topics and already doing all this learning on my own. I felt like how can I how can I genuinely expect someone to hire me as a program manager or a donor relations coordinator or or write a fundraising professional on being on the fundraising team. Without having the background, I mean, sure, I could have jumped right in and said, Oh, I'm going to get my CFRE training. I'm just going to go straight for that. But you know what, I'm not positive that is my calling yet. So again, maybe it is. And I think that there's a lot of really interesting points about being a fundraiser and I think I would really enjoy connecting with all kinds of really interesting people and connecting them with the mission. It's a great experience. But again, I felt like I was was jumping in would be jumping in from the side. I just wanted the entire story of the entire framework at my, you know, within me to draw upon to say, Okay, now this is where I know I need to go. I want it's also helping me to forge the path. From your perspective, and I think it's really intelligent. And I also think it's probably a gift due to the season of your life and where you are.  I'm really curious as to what is it that you're learning that's new and maybe even surprising because you you're in the you're in the trenches, especially with this new nonprofit in your work. What are you, what are your like, aha moments. Sure, sure. So the curriculum, like I had mentioned before, it's two courses at a time. And we have to take slate of required courses. And we'll we take a slate of electives. And interestingly, in my first quarter I ended up taking an elective that wasn't in the framework of the nonprofit management group. It was in the MBA group. And it just worked out that way with registration. And so a course and leading in dynamic environments was the name of the course so a leadership course for for business people. Yeah. And in that course I have to give you this context because it leads right into the big surprise. And of course, I had not been exposed to concepts and theories of leadership in a way that this was in the way that this was presented. It was just case case studies and reports about leader behavior, follower behavior subordinate behavior, how the environment affects how a leader behaves and how a subordinate will respond it was fascinating and I learned a lot about that. So here I am taking the nonprofit leadership class. And I am so fascinated by this material is has been independent survey data reports that survey survey samples of people in nonprofits, and it's has a emphasis on post coven activities, and how coven effects, what how they're looking and what their plans are. How is their programs changing. How is it affected your hiring practices, where your pain points what are the pain points that people are expressing. How do we retain retain good workers, all of those important topics are in these reports. So one of the biggest surprises I've had content wise is how important data. Important role data plays in how we do our work in nonprofits. So when I told my current professor about, I actually said to him. So I don't understand how this relates to leadership, I didn't wasn't making the connections right away, because the Lord words leadership weren't really in the data. And he said, here's the surprise. He said, I have it in my notes here, the role of the leader is to define reality. And that's the reality of your organization in the greater world, given your circumstances. And it makes perfect sense. So, you know, you people will act a certain way over time, they're going to change over time, but will the leader change with the circumstances over time is the leader looking at trends to discover what they need to be planning for next year. And then that so that was a big surprise to me is that we need to be making decisions, whether we are the executive director, or the director of events or the marketing communications director. Wherever we are in the organization, we should be gathering as much information as we can, and also help us know what's coming next. I think it's difficult to know, but I was in, I'm actually enlightened and encouraged to see that people are actually conducting the surveys, they're actually writing these reports and we can access them. And I don't know if I would have come across that by my former way of learning about this. Yeah, that is very tell on telling is not the right word but very interesting data here as you know Christina on the nonprofit show really sinking our teeth into that. And so it's, I'm fascinated knowing that that came into conversation in your coursework, you know, learning that having these aha moments. What are you seeing for the future, your future I mean now I feel like you have intentionally gone into this to say hey open my mind wide open, open the possibilities wide open. So what are you seeing your future in the sector. Well, I feel like, because I'm in the position of being able to be very intentional about my path right with this learning and personal development as well. It all comes together. I listened to a lot of Mel Robbins and Marie for Leo I love those types of people authors that have talked about how we need to work with other people and be tuned with ourselves and one really important thing that I've learned about is self assessment. That's another really important insight that I've had is that leaders and nonprofits need to be assessing how we're doing how does who the person I am today going to adapt to what's what's going to be happening around the corner right. So I feel like I have multiple choices here. I feel like I, I, in the right place this is where I belong. I like mission based work. We don't get into this work to earn personal millions, we get into this work to meet a need, and we can do that by unlocking the millions of the personal millions of others that already have been very successful. And that connects with our mission and we need the technical skills to be able to communicate with those people in order to have partnership with them so we can solve more problems, we're in the problem solving business. So I feel like that's where you know the context of where my heart is, and I have a lot of choices that I can make with this work so I've been basically in the education area I feel like I could stay in higher ed. The new nonprofit startup is a job training program so that's an educational program and other organizations that I personally support are working with youth and job skills training and mentorship I'm really into that. Being able to work with people who may be in a disadvantaged position in society have had a rough go of it so far, but where we can step in and provide real skills and fellowship and community with them and let their voices be heard and that's the kind of work that lights me up. So I see myself working maybe in an events management that is a donor cultivation activity. I could see myself working with alumni relations connecting with people in from a specific community and really again working with the events portion or working and just connecting with them on a personal level maybe in just those fundraising activities, and being a partner with them and maybe building that institution up in the for the future. And I also am interested in exploring foundation work. I'm intrigued by this. I was really learning a lot about that during COVID because community foundations were providing so much help. Yeah, and they and the rules were changing. Yeah, because of the situation that we were in not saying the situation is over but you know what I'm saying at that time, constant change, it was caught that we're in a place of constant change so community foundations were there. Giving other established foundations private private family foundations found themselves in a situation where they could give unrestricted gifts, and they were loosening some rules or changing some perspectives by what was happening. And I feel like I could enjoy being an environment where you're connecting your your found the foundation is connecting with the people that you're granting to. And I could love, you know, assisting the cohorts of grantees that you would sign on with and helping them reach their goals. I think that would be so exciting and worthy of my time. Well, Christina we don't have a lot of time left we you know these conversations go by so fast but I'm so mesmerized. Is this something that was on your list like five years ago 10 years ago two years ago like when did this really become this is what I'm going to commit to do. I would say that I realized I don't I don't think it was something that I committed to back then is saying this is my path because I've still been I was in other situations where I wasn't sure and I of course I have family to so I was entrenched in raising the kids and all the other things. So I feel like I have had enough experiences being involved in volunteer work in other community organizations that I was I was in it and didn't even realize it right like we're involved in so many things. Over our lives, and then go back to yeah you know what I was on the parish council that's a nonprofit organization and I was on the board. Wow, look at that, or I was, I was in toast masters international for 11 years which is a public speaking and leadership training program I was on the executive committee of toast masters for many years that's a nonprofit organization a membership driven so there's a lot of interesting experiences that kind of have have always been there throughout my life and now I'm like I said throughout the presentation I, I just wanted to have brick by brick. I wanted to see how this whole house is built, and then figure out where I can best serve others. Well, it is to be honest, it's a true accomplishment testament to being of service having that commitment. Christina going you know going back to school at any time I think for me is always like, you know really daunting but I love hearing the story from you. As you, you know work towards this higher education degree in nonprofits I think you've, you've probably touched on this for so many of our viewers and listeners that have also had this, you know, in their heart or in their mind to say I think this is of interest to me too. So I really appreciate you coming here and one being you know being an avid listener of the nonprofit show but then also allowing us to have you here to share this insight from your perspective and wish you all the best I think it's fantastic. I thank you so much for this opportunity, I hope it's been inspiring for others, and just keep learning everyone.  As we sign off we also want to give gratitude to our amazing presenting sponsors, blooming American nonprofit Academy where you can get a lot more about education as well. Your part time controller nonprofit thought leader fundraising Academy at National University, staffing boutique as well as the nonprofit nerd and again our guest today so grateful Christina means to have you here and you know to really dedicate your life your career to so many missions and to providing those solutions which we definitely, definitely and desperately need those two words but hey, so glad for all of you to join us today on President's Day many of you probably have the day off but this is also in our archive you can access at any time so a higher education and getting back to school for your nonprofit degree is something of interest to you, I hope that you will take the inspiring words from Christina today. It's been wonderful I really love having this conversation and, and I think we need to revisit this when you are finishing up your journey and education and see where you land and I think it's going to be great it's a wonderful thing for all of us to be doing this and we certainly as Jared said we wish you well as we end every episode we'd like to remind ourselves our viewers, especially Christina man. Well, you can do well everyone have a great day and we'll see you back here tomorrow. Thank you ladies.


Hello, I work for Airbus, talk 2 seconds about what is Airbus, maybe some of you know us, yes, already tried, bye, nobody, so I'm an IT tool start-up leader, you will see why we talk about start-up, it's very strange, a billion dollar company with a thousand hundred of employees with start-up, very strange, you will see why, because we talk about debuts. So in two slides, because we have not bought our product, we have 50,000 employees for manufacturing plane, so it's only manufacturing plane, but we are a group that also build stuff for space, we build spacecraft, we build launcher, military and also helicopters. Ok, our revenue 40 billion, it's only for the civil aircraft, and this figure is the most important, 9 year backlog, so we have enough to deliver during 9 years, so one of the issue is when you buy a plane today, we deliver it to you in 9 years, it's incredible what is the solution to deliver quicker, and if you need to deliver quicker, you need to get better tools in terms of manufacturing and also IT. And we talk about DevOps, which is for delivering quicker, and we talk also about solution like OpenShift, which allure to deliver quicker. So this is the main stuff, 9 year backlog, I will give you another example, it's a time when you want to introduce a new type of plane and when it's available. In 2014, we have announced to the public that we will have a new plane, the 313 NEO, ok? Two years after, this October, the first flight will happen, two years between the announced to the public to the first flight, ok? We start the test on this October and we deliver the first plane one year after to a company, so approximately in 3-4 years, you design the plane, you do the test and you do the first delivery, ok?  Ok, so I work for IT for the company and I mean, because we are in the US, we are also in the US. Since this year, we have a manufacturing in the US, we manufacture plane in the US, ok? It's in mobile, we have a manufacturing, we deliver few planes from this manufacturing since this year. So it's really important, we are not a European company, sorry, European and also English, we are also, we are more and more a world company. We manufacture in the US, engineering in the US and also in China. This is really important, so this is where you will find all our IT for Airbus. We are only approximately 1000, so it's not a lot for the IT store. And here, I will talk now about my domain, the infrastructure. So I work in the infrastructure, I support all the infrastructure for all Airbus worldwide. And this is the sizing of our infrastructure. So it's quite big compared to the number of mailboxes, we have a mailbox approximately 2.5 GB per user, this is the quota. When you multiply it's a terabyte. I would like to highlight just full point, it's quite fun but we have a project to replace all the mobile phones. When we replace mobile phones, we do roll out for 45,000 mobile phones. So the supplier that sells the mobile phones is quite happy. But when we do something to the size of the company is big. So when we do open source, it's quite big, it's impact all the company, it's a major decision. And I would like to go to the back office stuff, why? To the last figure, we do high performance computing and if you look the top 500, our computers are inside the top 500 for the supercomputer. We were well placed few years ago, unfortunately the battle is very strong and we lost our place. But we are still in, just for the story, servers, we have servers, a lot, but we have also servers in plain. If you took the 380, you have approximately half a ton of server in the 380, half a ton of server in the plain. So it's approximately 6 passengers, 6-8 passengers. They prefer the company to replace the server to passenger, it's more interesting in terms of economics. So I will move to master. So today Airbus have decided since approximately one year to move to open source. Why we move to open source? We get project, it was a 90SM project, and we decide to use open source to go. Mainly today, you know, there is no licensing, there is nobody from Microsoft, Oracle and so on, it's okay. We don't have to pay licensing fee, we have only the support to pay. Okay, so this is clear that you can do economy, it's in the beginning. After us, what we target is not that, the main point, is the top. Why the top? Because today, we think that the cost of the project will be not the technical stuff, will not buy licensing, it's human. It's a salary to pay to the human. So more you get people productive, more your cost will reduce on the long term and so on. But for that, we have decided to create a kind of inspiration, methodology internal from the open source. We call it the open way of working. And this is linked to DevOps. So we don't go straight to the end to say we do DevOps. We say we change our way of working to go to DevOps and to push the technical stuff. Because the problem is what I say all the time to my Red Hat expert. They already sell us technology, but we don't use it. And we use it in five years, the time that people adopt the technology. So why sell us products that we never use, we use in five years. So what we focus on with the open source is a collaboration, transparency and sharing empowerment. For us, the most important is really the collaboration. With the collaboration and to break the silos. All of us, we talk about silos is to break the silos. DevOps is break the silos between the dev and the ops, how you can do it. And this is today our main point, our main work. So we are starting this work in terms of changement. But in parallel, we put in place OpenShift to support it from the technical point. Okay, next slide. So I will give you two examples of projects that we have deployed from this methodology. And that for us has a major success. So itop is one example. It's a tool that we use to support our ITSM, our ITIL process. This tool supports all the assets for the company. And we have deployed it in three months. In three months, we deploy a tool to support all the assets for the company. Server, back office, front office, connectivity, all the figures you have seen. Only in three months, in three months, we have deployed the tool and we have done all the change. That means training for a user and so on. Why we have successfully done it in three months? Because after one month, because we use an open source project available, we create a partnership with the community. And one month after, the first release was available for tests for our users. And we done one release per week. This is not possible if you don't do DevOps. This is not possible. So this is the main reason we have used it. For this one, for example, after we move to OpenShift. Another example, which is just for us, is a major success. Because the entry of services was in June. This is a portal for the end user. When we do a portal for end user, for 100,000 users. Okay? It's a portal where the end user will find all his IT support tools. How to manage your incident, how to manage your request. When we talk at incident at Airbus, it's approximately 80,000 incidents. Par month. After, you go to million per year and so on. And this tool is used by the end user to manage their incident, their request, their knowledge, database access and so on. We have deployed it, you can see. In two months, we get the first release available for the end user. Every week for 5000 approximately end user. Okay? Missing one zero. We open it after three months. After, we've moved to 4000. And in one week, we have opened to 4000 to 100,000. How we've done it, we've developed. Without, it will be not possible. Okay? And again here, we have used LifeRay, which is an open source software. We have relied on LifeRay. We talk with the LifeRay community and so on. So all the time, for all our projects, we really have strong collaboration with the community. This is a critical point for us. Our DevOps, no, I will move really on how we set that in Airbus. It is quite simple. We adapt it to our process. If it's not adapt to the process, nobody will use it. If I talk about OpenShift, if you buy the OpenShift, you put it somewhere in your IT environment. And you say to the user, you can use it, nobody will use it. If it's included in your project methodology, they will use it. So we have changed, we have adapt, change, work on the project methodology, on the tool. And we have included all of that going to OpenShift in the tool. Why? I will explain the first part. We use ITOP as an internal project referential, because we need some few information that you don't find in other software for managing projects. And from this tool, they say, I want a project. And when they click, it will create a repository for their project in Tulip, which is an open-source software to manage projects. I don't know if some of you know this tool, Tulip. It's well used also in US. And they create also their Git repository at the same time, and their project in OpenShift. So that means, when the project manager starts, with one click, he can create his project repository, the repository for Git, and also for the OpenShift. And it's fully linked to the process. Okay? This is okay for us. Nobody will adopt the solution. They have to raise requests somewhere and so on. The process must be flexible and adapt. After, I would like one word about OpenSource, which is really fun for me. It's two examples. Tulip, for example, we use it here in Airbus, and the community of Tulip and the company linked to the project don't know it. It's used by a lot of engineers, and they don't know that we are maybe one of the biggest users of their software. This is incredible, and this is OpenSource, unfortunately. When I work around the partner, and I ask to some of the project, do you know which are your users and so on, they say no, we don't know. We just know that we are downloaded hundreds of thousands of times. And which is quite interesting also, it's a GFrog Artifactory, I don't know if some of you use it. I've contacted the company GFrog, and I discovered that they have a representative at one kilometer from my building. So I contact them at the US, and I say we can meet, go to my building, and they say no, you can come, we are at one kilometer from your building. This is OpenSource, sometimes you never know. So for us, the solution, as I say, is an open shift with the pass. We use for two scenarios. The first one is a new project to migrate, to have them on an open shift. And the second is a migration of application, of PHP application we have. We have all the server and so on, and we need to migrate all this PHP application to something more flexible for the future. And we find that OpenShift is the best solution. So, unfortunately for Red Hat, we are not the major customer for OpenShift. We hope that we will become. But it's really a use case for the future and obsolescence. At the beginning when we talk with Red Hat, we are starting with obsolescence. And now we've seen that there is a huge opportunity and we go for the future. For us, today OpenShift and the container are the solution. We look into a new cloud solution, bigger, where we have the privates, the public, and the OpenShift. So, it will be included in our cloud strategy for the future. So, it's my last slide, my conclusion. With Open Source and DevOps, it is clear that we deliver quicker. I will give you one example. When I talk about the portal for the 100,000 users, we do the entry of services on Monday on the Friday I was with the project manager. And the project manager, c'est to me, is the first time that I will go on weekend and have nothing to do for an entry of services on the Monday. Because usually, when you have an entry of services on the Monday, you spend your weekend to work. And it was the first time that the project manager is something that is a 50-year experience. C'est to me, I will live and I will have nothing to do. So, this is clear that we can improve, we deliver quicker, with the higher satisfaction, with the continuous relief, deployment and so on. We reduce our cost because we have less bug. We don't discover the bug at the last moment. This one is particular, it's for Red Hat, thanks, because we need the right partner for making this project. There are two kinds of partners. The partner for the technology, selling the technology and selling some high consulting, like Red Hat. And there is a partner that we work with everyday, like Altramp for example. So, you have two kinds of partners. You need to find the right partner. The technology is not enough. You can have the technology, if you don't have the right partner, it will not work. And as I say, for us, DevOps, open source and so on is really to increase the collaboration. We want us, we know that if we target the technology, there is also the people. And these are the people today, you need to change the people and these are more complex. You can buy, you can invest, if you don't change the people and remove people is more complex and remove server sometimes. Don't forget it or do the retirement of application. So, finance cannot be your only criteria to select open source. Can be. We do an assessment all the time between open source and property. It was not the case before. It looked like maybe incredible but when you are a big company you have contract and you need to follow sometimes the contract. My last sentence is a conclusion. It's open source is the only way in the past DevOps and so on to match our contract for our company to deliver quicker and so on. I have seen a lot of news on the open source website and so on about collaboration is open source. Big data is open source. More and more we talk about a topic and we say is open source and there is no other way to go. So, and it's very interesting but when Airbus moves to open source we get with us a lot of company moving to open source of suppliers and so on. So it's also very interesting to have big company moving to open source and to get the other one that follow. If we do it that means there is a sense I hope for our customer. Thanks.


We are going to talk about the Product Manager versus the Developer Toolkit. So as a developer, what was I doing? I was thinking about algorithms, which is like how the system is working, how is it thinking? As a Product Manager, I am thinking about how the people are behaving, what are they thinking? You know, it's a system of humans, well, the algorithm is like a system of machines. In databases, how is the data stored? How is it correlated? How is it moving? What is the relationship? In data insights, it's on top of the databases, right? You are understanding your view of the product through data, like the data is telling you a story. You need to figure out what story it's trying to tell you. And configurations are like relationship between systems or servers and you know, everything else. So as a PM, your relationship is within the organization and to a certain extent with your customer also, like, you know, you should know what your customer needs. So code is a language for the developer, right? So communication is what is needed for a Product Manager. Communication is very, very important.