“The greatest danger in times of turbulence is not the turbulence itself, but to act with yesterday’s logic.”
Peter Drucker
This observation captures remarkably well the situation businesses and society find themselves in today. The world is changing rapidly, but not in any single direction. Economic shifts, geopolitical tensions, technological breakthroughs, social fragmentation, new forms of state intervention and changing expectations of business are all unfolding at the same time. The challenge is no longer to understand one trend at a time, but to see how the different pieces fit together – and to act before the full picture becomes clear.
That is why the central question of the 2026 Portorož Business Conference is not simply how to survive uncertainty, but how to create value within it. In a shifting geopolitical and social landscape, companies must rethink growth, competitiveness, investment and strategy simultaneously. They must decide how to respond to economic nationalism without retreating into passivity, how to navigate a more fragmented global economy, and how to position themselves in a Europe that is itself searching for a stronger role in the world. For Slovenia, this is not an abstract debate. It is about the future of our economy, our productivity, our capital and our place in the next cycle of technology-driven growth.
A key part of this discussion is the link between technology and value creation. We are entering a new wave of productivity driven by artificial intelligence, digital technologies, automation and new ways of organising work. But technology alone does not create competitive advantage. Value is created when companies can turn technological potential into new business models, stronger customer propositions, higher value added and better strategic decisions. The question is no longer who has access to technology, but who can use it to reinvent their business model. This is the challenge Christopher Tucci of Saïd Business School, University of Oxford, will address at the conference. Drawing on his latest research, he will explore how companies can move from the incremental adoption of AI to the fundamental transformation of their business models – and what it takes to turn the potential of AI into lasting competitive advantage.
Transformation, however, is never merely conceptual. It happens inside organisations, across supply chains and throughout value networks. This is why this year’s conference places particular emphasis on business transformation in practice: how companies are reshaping themselves in a changing world, how they adjust strategy as markets shift, how they respond to geopolitical and technological disruption, and how they navigate new paths to growth. Not every company faces the same pressures, but all face the same imperative: adapt with purpose or risk falling behind.
No transformation is possible without investment in both tangible and intangible capital. Slovenia, like much of Europe, must confront the gap between what it saves and what it is willing to invest. Too much financial capital remains passive, caution is too often rewarded, and too many opportunities are missed. Why do Slovenian companies invest so little compared with their counterparts elsewhere in the EU – in both tangible and intangible capital? The latest research by the Faculty of Economics in Luxembourg, which will open the second day of the conference, addresses precisely this question.
If we want stronger growth, higher productivity and greater resilience, we need a more mature discussion about strategic capital: the role of development banks, the role of (state) ownership, the role of managers and the role of individual investors. At this year’s conference, these issues will be explored in depth by Janez Tomšič, Member of the Management Board of SDH, and Borut Jamnik, President of the Management Board of SID Bank, two key institutional figures involved in policies aimed at increasing business investment in Slovenia. But moving from a nation of savers to a nation of investors is not simply a financial challenge. It is also a question of mindset, ambition and our national attitude towards risk – a perspective that will be explored by Aljoša Valentinčič of the University of Ljubljana’s School of Economics and Business.
These questions become even more pressing when viewed against the broader international backdrop. Economic nationalism is returning, often without a coherent strategy. Public purpose, private power, industrial policy, fiscal activism and deficit politics are once again reshaping the global business environment. At this year’s conference, we will examine this dynamic more broadly, looking at how tariffs, the strategic rewiring of supply chains, the weakening of multilateral institutions, geopolitical fragmentation and shifting global financial flows are transforming the world economy. This is not simply about the policies of any one country or administration, but about longer-term changes in the rules of global business.
For business leaders, these are not distant developments. They directly shape the conditions under which new business models are built, technology investments are justified and growth strategies can be sustained. Companies around the world are operating in an environment in which politics matters more, economic rules are less stable, and strategic foresight is becoming an essential leadership capability. In a more fragmented and politically driven global economy, the ability to read macroeconomic and geopolitical shifts is no longer a luxury, but a prerequisite for sound strategic decision-making.
Europe and Slovenia must therefore prepare not just for the next quarter, but for 2027 and beyond. What kind of economy will emerge from this period of turbulence? Where will global investment flow? Which industries will successfully reposition themselves, and which will disappear? What will happen to key sectors such as the automotive industry and its supplier networks? Who will have the confidence to invest, transform and expand? And who will continue waiting for certainty that may never come?
The 2026 Portorož Business Conference will bring together economists, researchers, corporate executives, investors, policymakers and business leaders to address these questions. We will connect broader economic trends with practical business responses. We will explore how financial capital can be mobilised more strategically, how business models need to evolve in the next wave of productivity, how companies are transforming in practice, and what all of this means for Europe, Slovenia and the year ahead.
In a crazy world, survival matters. But the real winners will be those who can put the pieces together – turning uncertainty into strategy, investment into value, and change into growth.
Programme Council of the 28th Portorož Business Conference
