Review

Dr. Kurt Pribil, Member of the Board at the Oesterreichische Nationalbank On Thursday, October 8, in the framework of the MCI Alumni & Friends lecture series, the Entrepreneurial School® welcomed Dr. Kurt Pribil, Director of the Österreichische Nationalbank (OeNB). “Cash is something for your grandmother and bank robbers!” That provocative statement came at the beginning of the lecture held by Dr. Kurt Pribil, who was appointed Director of the OeNB last year, on the subject of “On the way to a cashless society”. In the course of his presentation he addressed the question whether the future is going to bring us the cashless society. In Austria, the first cashless transactions were made in the mid-1960s, when Diners Card appeared on the scene. Today credit cards and debit cards are in general use, and payments via the Internet and smart phones are nothing unusual. With the advent of new technologies like NFC for contactless payment, it is now possible for even small amounts to be handled on a cashless basis, e.g. for purchases from the local baker. By 2020, NFC is expected to be a feature of all debit cards in the euro zone. In spite of the convenience of cashless transactions, a poll conducted by the OeNB shows that, at 65 %, cash is still the primary means of making everyday payments. The volume of cash in circulation also continues to increase and currently stands at 980 billion euros. In conclusion, Dr. Pribil stated that the cashless society is still a utopia in view of the continuing reliance on cash for daily transactions, the constant increase in the volume of cash in circulation and also the ECB’s decision to issue new euro notes. The lecture was chaired by Professor Matthias Bank, Chair of Banking & Finance at Innsbruck University, and closed with a lively round of discussion.{phocadownload view=file|id=5802}{phocagallery view=category|categoryid=873}

Where is the energy transition taking us?Prof. Dr. Rolf Wüstenhagen, Director, Institute for Economy and the Environment, University of St. GallenProfessor Rolf Wüstenhagen, Good Energies Professor for the Management of Renewable Energies and Head of the Department of Economy and the Environment at the University of St Gallen, recently spoke as a visiting lecturer at the Entrepreneurial School®. Energy was very much on the agenda at an event held in the framework of the MCI Alumni & Friends lecture series on the evening of September 24. For Professor Wüstenhagen, the current picture shows a clear trend to the increased use of renewable energies. The ratio of non-renewable to renewable energies will shift from 80:20 to 20:80 according to the St. Gallen Professor. The reasons are to be found not only in nuclear power plant disasters like Fukushima but also, and above all, in the potential for renewable energy to benefit from economies of scale, thus leading to lower prices. The challenge for policy makers is to take climate change seriously and to act today to set the stage for the increased use of renewable energy tomorrow and create the stable conditions needed for that purpose and at the same time, Professor Wüstenhagen added, reduce the future level of costs. The speaker also pointed out that energy storage was a particularly important aspect of the use of renewables. The subsequent lively discussion chaired by the MCI’s Rector Dr. Andreas Altmann rounded off a successful evening. Einladungsflyer_Wuestenhagen.pdf{phocagallery view=category|categoryid=870}

More than a thousand guests celebrated at the MCI On June 13 and 14, members and supporters of MCI Alumni & Friends came together to celebrate the end of the 2013/14 academic year. Full and varied program This year, too, the MCI Alumni & Friends Club marked the close of an intensive and interesting year of events with its traditional MCI Alumni Weekend, offering an exciting program as the rousing culmination of the academic year. The event began on the Friday afternoon with words of welcome spoken by Rector Andreas Altmann and a get-together of MCI graduates including the jubilee years, who learnt about and discussed the MCI’s highly promising plans for the new campus, Ph.D study programs, and the new online study program in Business Administration, etc. Presentation by the CEO of Austrian Railways (ÖBB) In the following talk given by Christian Kern, CEO of Austrian Railways, the gathering heard that the ÖBB is optimistic about the future and sees further potential for corporate growth in people’s changing mobility habits. According to the speaker, the number of railway users in Austria and their level of satisfaction are higher than ever before, and productivity at Austrian Railways is outstanding at the European level. The CEO is determined to further consolidate the ÖBB’s position in the future and to move up to join the leaders in Europe in terms of profitability, economy and punctuality. Following the interesting talk given by Christian Kern, the MCI was privileged to welcome another top-level guest, namely Professor Tilmann Märk, Rector of Innsbruck University and Chairman of the Tyrolean University Conference, who spoke about the current situation of the Tyrol as a university location. He explained that the various tertiary education facilities in the Tyrol are not hostile competitors but part of a healthy higher education market on which they complement one another and thus make the university scene more attractive. The decision to pull together in the framework of the Tyrolean University Conference is seen as a source of additional effective cooperation in the fields of teaching and research. It also underlines the importance of the goal of knowledge transfer to society. Chilling out at the MCI Summer Clubbing Socializing & Networking was the order of the night: At the MCI Summer Clubbing in the Hofgarten, graduates, students and the MCI team, as well as friends and partners of the MCI gave themselves over to the clubbing sound and a delicious buffet until the early hours. Zoological end to a successful Alumni Weekend On Saturday morning, Dr. Michael Martys, Director of Innsbruck’s Alpine Zoo, provided interesting insights into behavioral research in the animal world. The speaker explained that animals live in a space-time system based on incentives and enticements. Even though human beings are zoological creatures, he said, they cannot be treated on a level with animals; human thought and action are shaped by processes of socialization and decision-making and involve a greater degree of responsibility. Even though Dr. Marty refused to equate human beings with animals, he was able to draw fascinating parallels between human and animal behavior.Dr. Marty’s presentation brought to a close a wonderful weekend under the motto “Meet & celebrate with motivated people”.Alumni-Weekend-Einladung-2014.pdf{phocagallery view=category|categoryid=839}

From the old railway to an innovative enterprise.Christian Kern, CEO, ÖBB Holding AGVisitors to this year’s Alumni Weekend on June 13-14 were again treated to a number of excellent presentations given by visiting speakers. The opening talk on the Friday was given by Christian Kern, CEO of ÖBB Holding AG. He gave his audience an interesting insight into the challenges facing the railways today. His recipe for success is always to be one step ahead of the market, with know-how and innovation as the decisive factors for a positive performance. ÖBB Holding AG is a company with a long history, although Christian Kern is well aware of the fact that that alone cannot be the basis for future success. For him, the company’s innovative power is a critical instrument for the further development of its potential. “The ÖBB is also an enterprise and as such requires entrepreneurial thinking and behavior,” said the CEO, who believes that all decisions have to be based on their commercial implications. For him, a non-political mentality within the company is essential if it is to achieve its full potential. In the last few years a number of reorganizational measures have been taken that in some cases have met with opposition. In spite of that, the ÖBB has developed into a successful company in the recent past. According to the speaker, the number of ÖBB customers and their level of satisfaction are higher than ever before, and productivity at Austrian Railways is outstanding at the European level. The CEO is determined to further consolidate the ÖBB’s position in the future and to move up to join the leaders in Europe in terms of profitability, economy and punctuality. The CEO of the ÖBB is optimistic about the future and sees further potential for corporate growth in people’s changing mobility habits. Dr. Andreas Mehrle chaired the event, which culminated in a lively discussion. Einladung_Kern2.pdf{phocagallery view=category|categoryid=837}

Socializing & Networking was the order of the night: At the MCI Summer Clubbing in the Hofgarten, graduates, students and the MCI team, as well as friends and partners of the MCI gave themselves over to the clubbing sound and a delicious buffet until the early hours. {phocagallery view=categories|categoryid=841|imagecategoriessize=0}

Findings of behavioral research for management and leadership.Michael Martys, Director of Innsbruck's Alpine ZooOn Saturday morning, Michael Martys, Director of Innsbruck’s Alpine Zoo, provided interesting insights into behavioral research in the animal world. He began by pointing to the dangers of the anthropomorphization of animals. “It can merely serve to make concepts more easily understood; it should not serve as a reference to the animal in the human being.” Even though human beings are zoological creatures, they cannot be treated on a level with animals; human thought and action are shaped by processes of socialization and decision-making and involve a greater degree of responsibility. Animals live in a space-time system based on incentives and enticements. They are the true homo oeconomicus, as animal behavior tends always to take account of the cost-benefit ratio. At the end of the day, the yield must be greater than the energy input, failing which the animal will not survive. Animals employ various strategies in the interest of survival for themselves and their progeny: If you are big, you need to fight. If you are small, you must deceive. Or the weaker animals enter into coalitions to ensure survival. There is also a constant give and take in the animal world. The example of the wolf pack shows that it is not always the biggest and strongest that is the leader but the individual with the most commanding manner and the best character. Even though Martys refused to equate human beings with animals, he was able to draw fascinating parallels between human and animal behavior. The talk was chaired by Johannes Dickel. With lively discussions in a relaxed atmosphere and a substantial buffet lunch after the presentation, this year’s Alumni Weekend came to a worthy finish.Einladung_Martys4.pdf{phocagallery view=category|categoryid=838}

How to establish, build and lead an enterprise.Janet Kath, CEO, Interio Österreich“Fortune favors the brave!” This motto appealed to Janet Kath so much that at the end of 2000 she set herself up in business with the acquisition of a furniture and furnishings chain by the name of Interio Austria. On May 25, 2014, in the framework of the Alumni & Friends lecture series, Janet Kath made a big impression at the MCI with a first-class presentation on the subject of the challenges of running a business. She began with a summary of her own biography as the daughter of a small tobacconist who became the managing director of the BIPA chain of cosmetics stores and finally set herself up in business as the proprietor of the Interio chain of designer furniture stores. Courage, passion and an awareness of the commercial risks – for this Superwoman, these are the main factors for entrepreneurial success. Like many other lines of business, the furniture trade is currently going through a difficult phase. That makes it all the more important for a company to be clearly positioned on the market and maintain an unequivocal image in the eye of the consumer. For Janet Kath, cooperation with numerous manufacturers in Europe is particularly important, and she is proud of the fact that 90 percent of the articles sold are made in Europe. Interio’s success lies in the company’s strength, speed and flexibility and not in size, mass or volume. Interio’s positioning enables the company to sell high/grade products at a reasonable price and to remain flexible with regard to the product portfolio, especially as – with few exceptions – no mass-produced products are sold. The experienced businesswoman’s advice for young entrepreneurs and those thinking of starting a business is to exploit their passion for a subject but without neglecting the economic aspects. The talk closed with a lively discussion with an enthusiastic audience. The proceedings were chaired by Bernd Kirschner, program director at Management Center Innsbruck. Einladung_Janet_Kath2.pdf{phocagallery view=category|categoryid=831}

Understanding the future of artifacts.Matthias Horx, Trend researcher and futurologistOn Thursday, May 22, in the framework of the MCI Alumni & Friends lecture series, the MCI hosted an extremely exciting talk given by Matthias Horx. In his lively presentation, the German futurist offered his audience new perspectives on the complex world of technology and its development over the centuries. According to Matthias Horx, technology and the future go hand in hand. But technology is a “hard nut to crack”. In order to understand it better, one has to put aside the technical heroism of the 1960s and see technology through evolutionary eyes – hence the term technolution. The speaker went on to describe the evolutionary path of technology and its drivers, namely power, mobility, control and effectiveness. The final direction a development takes, however, depends ultimately on such factors as habits, systems, fear of the loss of control, ethics and the environment. Human beings are capable of imagining technological progress in all fields of life and in most cases of achieving it, too. But here Matthias Horx takes a critical look at the meaningfulness of technological development and asks whether we should really facilitate all brainless work processes simply to be able to concentrate on more complex things? Technological success is not about what technology can do but what society decides on. We therefore have to try to understand the deeper technological relevance. “Do people really need a speaking refrigerator?” Where such questions are not asked, the result is likely to be one of the many technological flops that we have seen in the past. Today we are living in a new age, and it almost seems as if we were in a phase of technological stagnation, with fewer inventions being made. Matthias Horx is nevertheless convinced that the future also has great potential and that technolution will continue. Starting this autumn, the MCI’s students will be able to learn more about the subject of technolution in a project run by Matthias Horx himself. The highly successful talk closed with a lively discussion. The proceedings were chaired by Professor Ralf Geymayer. Einladung_Horx_Alumni.pdf{phocagallery view=category|categoryid=829}

Valeriu Chiveri, Deputy Minister of Foreign Affairs & European IntegrationOn May 19, 2014 the Moldavian Minister of Foreign Affairs & European Integration was the visiting speaker in the MCI Alumni & Friends lecture series at the Entrepreneurial School®. Ex-Ambassador Chiveri began his presentation by stressing Moldavia’s difficult position and spoke of the major diplomatic challenges confronting his country. With reference to the current situation of the former member of the Soviet Union, Valeriu Chiveri explained that it was essential for Moldavia to move closer to the European Union in order to consolidate the country’s national identity, strengthen the economy and generate the necessary level of growth – but not at the cost of the country’s relationship with the Kremlin: “Even though Moscow often takes a different view. We want to keep Russia as our partner,” said the experienced diplomat. For the Moldavian minister, more trade partners and more markets are the foundation required for continued reform of the country. But for him, one thing is very clear: “Europe can live without Moldova, but Moldova cannot live without Europe,” which brought the speaker back the challenges confronting his country. In spite of that, Valeriu Chiveri takes an optimistic view of the future and is looking forward to more intensive cooperation in both directions – east and west. The talk was chaired by Professor Gerhard Mangott, University of Innsbruck.Invitation_Deputy Minister Chiveri.pdf{phocagallery view=category|categoryid=827}

Iceland's spectacular economic crash and the bumpy road of recovery.Thóra Arnórsdóttir, News Editor & Icelandic Candidate for the Presidential Elections 2012On Tuesday, May 13, the Great Hall at the MCI filled at midday for a highly promising talk to be given by Thóra Arnórsdóttir, who was one of the candidates for the office of President in Iceland. In an etremely lively presentation, the former journalist and candidate for the Iceland presidency described the time of the country’s economic crisis and its causes. The talk offered exciting insights into an interesting culture that many Europeans still know relatively little about. Until the middle of the 20th century, Iceland was one of Europe’s poorest countries. It was not until after the 2nd World War that things improved and the island state took advantage of the opportunities presented to develop an independent and flourishing economy. After the “incredibly spectacular crash” in 2008, many people asked themselves how it could all have happened, i.e. how such a small country could have amassed so much wealth in such a short period of time and how it could lose it again so quickly. The speaker spoke of cultural and historical factors as the main causes and said, “We do not have the genes for international business.” According to Thóra Arnórsdóttir, an exaggerated selfconfidence and an unwillingness to listen to advice from experienced businesspeople from abroad also played a role in the development of the crisis and the bursting of the bubble. “We are ready to look forward.” The Big Bang is now a thing of the past, and the speaker said Iceland should seize the opportunity for a new start. Despite the past difficulties, she sees positive perspectives for the future of her home country, with the next generation called upon to move forward in cooperation with the country’s policymakers. Among much else, Thóra Arnórsdóttir’s optimism for the future is based on the country’s natural resources like green energy, fisheries and unspoiled natural scenery, which attracts about a million tourists to the island every year. “Icelandic people are more entrepreneurial than in other countries,” says the successful businesswoman and mother of several children. She also thinks their strong roots in their home country are an important factor: Almost 90 percent of the Icelanders who leave their country for reasons of education, etc. return to the island. In the subsequent discussion, the visitors were given even deeper insights into the Icelandic mentality and a country that will doubtless continue to have a mystical attraction for many of us. The impressive event was chaired by Dr. Andreas Altmann as Rector of the MCI. Invitation_Thora.pdf{phocagallery view=category|categoryid=824}

The challenges confronting Europe's airlines.Christian Lesjak, Managing Director, NIKI Luftfahrt GmbHOn May 6, 2014 Christian Lesjak, Managing Director of NIKI Luftfahrt GmbH, was the visiting speaker in the MCI Alumni & Friends lecture series at the MCI. In an interesting presentation, he offered revealing insights into the complex world of civil aviation and the challenges confronting the airline industry today. NIKI Luftfahrt GmbH was launched as a tourist airline operation in 2003. Collaboration with and subsequent integration into the Air Berlin group enabled the charter operator to develop scheduled airline business, too, and thus access a new customer segment. Nevertheless, NIKI continues to focus on its charter business, which is less cost-intensive and involves fewer risks for the company. For Christian Lesjak, the main challenge for today’s airlines is the high level of costs that are largely beyond the control of the airlines: Fuel costs, airport charges and also regional taxes are all items where the company has little scope for negotiation. At the same time, economic crises, as experienced in southern Europe in the last few years, lead to pronounced fluctuations in demand. The speaker also said that the operating framework as dictated by EU policies was a problem with regard to international competition. According to the speaker, there are still excess capacities on the European air travel market, with fierce competition from low-cost airlines and from national carriers that only survived in the past with the help of the tax-payers’ money. He also sees the railways as a strong competitor on regional markets. Cheap fares became a significant market phenomenon with the advent of the low-cost carrier in the mid 1990s. Since then, there has been a paradigm shift from a natural demand- to a supply-driven market. “Today’s passengers simply want to get somewhere. The low-cost carriers can take advantage of their sensitivity to prices. The value of the product has greatly declined.” Christian Lesjak sees this development as the main problem and one that will continue to make European air travel a challenging market in the future. The talk was rounded off with a lively discussion to produce a highly successful event, which was chaired by Dr. Andreas Mehrle, Program Director for Mechatronics.  Einladung_Lesjak2.pdf{phocagallery view=category|categoryid=816}

(How) can clean sports work?Michael Cepic, Director of the National Anti-Doping Agency (NADA)On April 23, 2014 Austria’s most prominent “doping detective” was the visiting speaker at the Entrepreneurial School® in the framework of the Alumni & Friends lecture series. “We see ourselves as adjudicators in the anti-doping effort.” That is how the director of NADA explains his role in the world of elite sports in Austria. “As an independent supervisory body, we ensure that the clean and fair athletes are protected,” he added. Michael Cepic, a former basketball pro, stressed two main functions of NADA: the creation and operation of a transparent doping control system on the one hand, and educational work on the other. For him, awareness building in society in general is a essential element of NADA’s work to ensure that doping in sports is not seen as a trivial offense. In Cepic’ opinion, this educational role must relate to three aspects, if the necessary degree of awareness building is to be achieved. Prevention campaigns are needed to ensure that tomorrow’s elite athletes have all the information and are aware of their “responsibility for their own bodies”. In a second step, elite athletes are offered a wealth of information on the subject of doping. “It’s important for us to provide athletes with accurate information, to make them aware of the dangers and offer sources of further information,” says Michael Cepic. As a third point, the head of NADA Austria stresses the need to make the general public aware of the issues and problems involved, with a package of advertising and strict controls to educate people on the subject. The speaker emphasized that there can be “no looking the other way” and that the focus must always be on “clean sport”. The talk was chaired by MCI Professor Siegfried Walch. Einladung_Cepic.pdf{phocagallery view=category|categoryid=811}

Can an enterprise contribute to personal wellbeing?Dr. Giovanni Podini, CEO, Podini Holding AGOn April 9, 2014 Giovanni Podini, a died-in-the-wool businessman and social entrepreneur was the visiting speaker at the Entrepreneurial School® in the framework of the Alumni & Friends lecture series. The CEO of Podini Holding AG, a pan-European operation with interests in real estate, energy, sugar, management consulting and wine, spoke about his special style of management. Podini Holding AG is a company that for years has seen the human being as a key asset for corporate success. In the CEO’s opinion, responsibility and sensitivity towards employees, customers and society in general are central elements in running a successful enterprise. He does not dispute that a company has to make a profit in order to survive and thus protect jobs, but the important question for him is HOW those profits are made. The solution he proposes is to combine work with ethical behavior. Since 1972 the company has been active as a charitable sponsor in the fields of education and health care in Eritrea, Cambodia and India. In addition, in the framework of the Podini Foundation, startups are supported in those countries with the aim of developing businesses in the long term and creating jobs and thus added value for society in general. This added value for society, and not the balance sheet total, is what Giovanni Podini sees as the true measure of corporate success. Success in that respect presupposes a rethink that replaces the business management approach with an economic policy approach. The fact that Podini Holding AG takes its own corporate philosophy seriously is shown by the choice of the company for the 2014 Best South Tyrolean Employer Award. The speaker’s very natural and winning style infected his audience and triggered a lively round of debate. The event was chaired by Professor Bernd Kirschner, Program Director for Business & Management and International Business at the MCI.Einladungsflyer_Podini.pdf{phocagallery view=category|categoryid=806}

A player rather than a observer.Peter Kropsch, Director of APA Austria Presse Agentur eGOn March 27, 2014 Mag. Peter Kropsch, a graduate in journalism and one of Austria’s most prominent information service providers, was the visiting speaker in the MCI Alumni & Friends lecture series at the Entrepreneurial School®. “The APA as a lighthouse in today’s sea of information.” –That is how the Director of Austria Presse Agentur interprets the role of his politically and financially independent organization at an exciting time for news, information, media and new channels of communication. According to Peter Kropsch, today’s media businesses are confronted with many changes and new challenges: “There are so many questions you have to address, and if you don’t you’re finished.” User habits are changing and for the younger generation especially, news access via iPad, Android etc. now goes without saying. “The changes in user behavior are very apparent,” says the media man with regard to the shift in the global power structures in the information business. Google, Twitter and Facebook are the new big players on the market. In this context, Kropsch describes the system as being increasingly ‘”unregulated” and speaks at the same time of the principle of “might makes right” on such markets. With the help of social media, news can be instantaneously written, disseminated, modified and commented on, but verification is becoming increasingly difficult with regard to correctness of content, the source and the reliability of the author. That is where the APA comes in – as “a lighthouse in today’s sea of information”, which makes available verified, properly researched and competent news. The talk was chaired by Hans Herbert Holzamer.Einladung_Kropsch.pdf{phocagallery view=category|categoryid=800}

Martin Kind, CEO of the KIND Group & Director of Hannover96An unusual talk was held in the framework of the MCI Alumni & Friends lecture series on March 18, 2014. Martin Kind, entrepreneur and Director of the German premiere league football club Hannover 96 offered insights into the exciting world of professional football to an interested audience in a packed Great Hall at the MCI As the CEO of a family company, Martin Kind characterizes his business as a work of love and passion. “Work has got to be fun if you want it to be successful,” he is convinced. In 1997, when he became Director of the Hannoverscher Sportverein von 1896 e.V., which was insolvent at the time, he was confronted with the challenge of rescuing a non-profit association from a difficult situation as a business venture. He knocked on various doors in an attempt to find investors, and those attempts have proven to be highly successful. Today the club is playing in the German premiere league and is now financially healthy. The road to success involved restructuring the non-profit organization with its focus on recreational sport and hiving off the football club as a commercial venture in the corresponding legal form. Martin Kind is very much aware of the fact that football has a social function and also a strong emotional element. For him personally, “Emotions are allowed during the match, but afterwards the brain has to take over again.” In addition to the legal aspects and the strength of the brand image, otherfactors are also important for the success of a football club as a commercial venture such as investments and innovation. With the construction of a stadium for the 2006 World Cup, Hannover 96 took a big step forward into a healthy future. For Martin Kind, this redevelopment phase is now complete and the time has come to initiate a phase of consolidation and further growth with a sensible and realistic approach. A lively discussion rounded off a successful evening. The event was chaired by Professor Hubert J. Siller, Program Director for Tourism.{phocagallery view=category|categoryid=791}

Gottwald Kranbitter, Public auditor |Chairman of the Supervisory Board of Wiener Privatbanken SE |Former Chairman of the Board of Hypo Alpe Adria AG, KlagenfurtOn March 14, 2014 Dr. Gottwald Kranebitter, an experienced public auditor and banking expert, was the visiting speaker in the MCI Alumni & Friends lecture series at the Entrepreneurial School®. He offered a wide-ranging overview of the finance crisis, presented the diverse opinions held by financial experts throughout the world on the question whether the financial crisis is now over or not and finally drew attention to the some of the common ground on which the experts base their arguments. He began his talk with a summary of his own career and showed the audience that, in spite of the recession and the finance crisis, it is still true to say that in Europe we are indulging in the “woes of the wealthy”. From his experience of southern Europe, however, Gottwald Kranebitter feels that there are no prospects of an improvement, especially in the light of a youth employment rate there of 60 percent. In his opinion, a crisis is over when the countries involved again have normal access to the finance markets and hence normal interest rates and positive prospects with regard to developments in productivity. A sustainable level of investment must be achieved by both government and the private sector, and the banks must willing to lend fresh money again. As far as the present situation is concerned, we do have normal interest rates for the most part, although they are at an all-time low. On the other hand, the enormous volume of public debt in the Euro Zone and a high level ofunemployment of 12 percent (maximum in Europe) are indicative of the fact that the necessary increases in productivity and hence improvements in competitivity have failed to materialize. Nor are governments and private companies investing on a continuous basis, and the banks are still reluctant to provide fresh loans to businesses. There is a general consensus amongst the experts that no further crisis is to be expected, although the problems of the Monetary Union are still far from a solution. The high levels of national debt can only be reduced gradually, and for Greece – in spite of the haircut and extended payback period – there will be no real recovery in the decades ahead. Dr. Kranebitter sees a European Banking Union as an essential step in order to maintain the Economic Union in the long term, but he is convinced that it is more likely to come “via the backdoor”. The speaker closed his fascinating review of an extremely complex subject with an amusing and yet very real statement on the subject of bank balance sheets: “On the left there is nothing right, and on the right there is nothing left.” The talk was chaired by Professor Klaus Schredelsecker.{phocagallery view=category|categoryid=789}

Christoph Leitl, President of the Austrian Chamber of CommerceDr. Christoph Leitl, President of the Austrian Chamber of Commerce as a visiting speaker in the MCI Alumni & Friends lecture series at the Entrepreneurial School® on March 6, 2014: Christoph Leitl, one of Austria’s leading economic strategists, started his talk by stressing the importance of a European Union as a common home for all Europeans and contrasted that with the Europe of the past. He said it was thanks to Europe and the countries of the European Union that wars between European countries were now only the stuff of history books and that open borders, a common currency and cooperation within the European community were the elements of a success story that was now taken for granted. “And yet it is right, important and necessary not to lose sight of the past,” said Dr. Leitl and added that it would be unwise to rest on one’s laurels. According to the President of the Chamber of Commerce, we will win the competition at the level of costs. He said that the welfare state, our longer lives and hence longer pension payment periods, higher labor costs and more bureaucracy were just some of the reasons why we cannot compete with the “hungry” countries of Asia, Africa and South America. If we are to be able to pay our bills tomorrow, we have to ensure that we have the creativity, power of innovation and qualifications needed to maintain our ability to compete. “And that is only possible if we pull together in a strong Europe,” concluded a man who is palpably an ardent European. The talk was moderated by the MCI’s Rector Andreas Altman. {phocagallery view=category|categoryid=788}

Document establishing the United Nations PRME Chapter for the German-speaking countries official signedManagement Center Innsbruck was recently the venue for a successful international UN conference. The Entrepreneurial School® hosted the high-level United Nations Global Compact Conference on Principles for Responsible Management Education (PRME). The conference also involved the official launch of a PRME chapter for the German-speaking countries. The signatory act was performed in the presence of numerous speakers and participants from all over the world by Jonas Haertle, Head of the PRME Secretariat at the UN Global Compact Office in New York, Jürg Kessler, Rector of HTW Chur, Ulrich Jautz, Dean of the University of Pforzheim, and Andreas Altmann, Rector of MCI Management Center Innsbruck. The conference focussed on the six Principles for Responsible Management Education (PRME), which were developed in 2007 by an international group of university rectors and presidents of leading business schools and academic institutions under the coordination of the UN Global Compact Office of the United Nations. The objective of the PRME initiative is to inspire and champion responsible management education and research worldwide, and assume a pioneering role and establish the demanding principles as the international standard. The MCI was entrusted with the task of hosting the launch conference for the German-speaking world on the basis of its exemplary activities over the last few years.Further informationUnterzeichnende Institutionen RückblickPressemeldung PRMELocal Networks News of the UN Global CompactContactUlrike FuchsHeadMarketing & Communication+43 512 2070-1510{phocagallery view=category|categoryid=782}