BUSINESS

Aron Cramer: 'Fundamental Changes' In Consumer Demand Forcing CEOs To Shift Focus

Aron Cramer, president and CEO of BSR, was asked by HuffPost Live at Davos on Wednesday if capitalism is "changing as we know it."

Cramer gave an example of Hilton Hotels competing with Airbnb, saying CEOs of major companies are being forced to expand their definition of what the competition is and think about it in a different way.

"If I'm the CEO of a company like that, I have to think about my competition in a different way, because the chance that my company might be deflated by some of these fundamental changes in consumer demand is so great that you can't afford only to focus on short-term profits, you also have to think about what the medium- and long-term looks like."

Below, more updates from the 2015 Davos Annual Meeting:

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