Ceyhan for INDEPENDENT SCHOLAR World Economic Forum AN INTERNATIONAL, NON-PROFIT, and non-partisan organization, the World Economic Forum (WEF) was originally formed in January 1971, in Davos, Switzerland, as the European Management Forum (EMF). It was founded by Klaus Schwab, then professor of general management at the International Management Institute in Geneva and, since 1972, professor of business policy at the University of Geneva. Initially, the forum brought together the executives of leading European companies to discuss the problems and the promises of the internationalization of economic activity. In 1987, the name of the EMF was changed to the World Economic Forum to reflect its focus on worldwide issues, and specifically on improving the state of the world by providing an opportunity to its members to discuss important social, economic, and political issues and problems facing the industrial and the developing world alike. Its membership consists of approximately 1,000 large corporations that have a global focus, in countries ranging from the UNITED STATES and EUROPEAN UNION member countries, to developing countries such as Syria and Kenya. In 2003, 43 percent of the corporate members were from Europe; 26 percent from North America; 13 percent from Asia, 7 percent from Central and South America; 4.5 percent from the Middle East; 4. Ceyhan 2016.