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Peter Drucker Special Lecture: Property or Communities? The Upcoming Challenge for Companies

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Erwin-Schrödinger-Saal
Plenary / Keynote & Interviews
German and English language

Companies and their managers are facing increasingly complex environments and heterogeneous workforces. Are today’s management approaches and structures fit to tackle these challenges? Is regarding a company as the community of all stakeholders instead of as the property of its owners the way forward? What are the implications?

Speakers

President, Peter Drucker Society Europe, Vienna Introduction
Philosopher and Author on Organisational Behaviour and Management, London Abstract Key Note
The principal assets of companies are now people. They cannot in law or morality be owned by others. Would it make more sense to think of a business as a community not a piece of property? What would be the implications of doing this?

I will begin by highlighting the problems of thinking of a business as  owned by its shareholders who, in a public company are more accurately called investors. I will argue that the development of the so-called Agency Theory in the 1980s with its emphasis on shareholder value as the main or only goal of the business was largely responsible for the short-term thinking and the bonus culture which has distorted capitalism in recent decades. The theory self-evidently has not worked, for society, for most of the workforce, even for society. It is time for a rethink.

I will then go on to suggest that it is more realistic to think of a business as a community of involved people, including, principally, the workers, the managers and the shareholders. Communities cannot be owned by anyone, even by their members. Members, however, have rights, and responsibilities. These can and should be formalised in some form of structure and formal agreement.

I will end by posing a question to the panel and the audience: How different is it in your companies? Does the supervisory board moderate the influence of the shareholders? Do the works councils really allow the voice of the workforce to be heard? Are your companies already more like communities than properties? Or does more need to be done to make capitalism feel more democratic, more for the benefit of all?
Chief Executive Officer, Telekom Austria Group, Vienna
Member of the Executive Board and Chief Commercial Officer, Austrian Airlines AG, Vienna
Chief Executive Officer, T-Mobile Austria GmbH, Vienna
Chief Executive Officer, Infineon Technologies Austria AG, Villach
Economics Editor, Bloomberg News, Zurich Chair
Journalist, Die Presse "Economist", Vienna Chair

Dr. Richard STRAUB

President, Peter Drucker Society Europe, Vienna

1984-1987 Director, PC Sales IBM Austria
1987-1992 Director, PC Unit, IBM Austria
1993-1994 Assistant General Manager, PC Marketing, IBM EMEA
1994-1995 Regional Director, PC IBM Central Europe and Russia
1996-1997 Director, IBM Global Marketing and Sales Institute, Belgium
1997-2001 Chief Learning Officer, IBM Global Sales and Distribution Group
2001-2005 Director, Learning Solutions, IBM EMEA
since 2006 Associate Director, Corporate Services EFMD
since 2006 Senior Adviser, IBM Global Education Industry
since 2006 Senior Adviser to the Chairman, IBM EMEA
since 2008 President, Peter Drucker Society Europe

Charles HANDY

Philosopher and Author on Organisational Behaviour and Management, London

1955-1965 Marketing Executive, Shell International, Malaysia and London
1966-1967 International Faculty Fellow, MIT, Cambridge, MA
1967-1977 Professor of Management Development, London Business School, London
1977-1981 Warden, St. George's House, Windsor Castle, Windsor
1981 Author, broadcaster and independent lecturer, London

Dr. Hannes AMETSREITER

Chief Executive Officer, Telekom Austria Group, Vienna

  Studium, Publizistik, Kommunikations- und Sportwissenschaften, Paris-Lodron-Universität Salzburg
  Diverse MBA-Module, Pepperdine University, USA
  Executive-Kurse, Stanford University, USA und INSEAD, Frankreich
bis 1996 International Brand Manager, Procter & Gamble
1996 Produktmanager, mobilkom austria
2001 Vorstand Marketing und Vertrieb, mobilkom austria
2007 Vorstand Marketing, Telekom Austria TA AG (zusätzlich zur bisherigen Vorstandsfunktion)
seit 2009 Generaldirektor, A1 Telekom Austria AG (hervorgegangen aus der Fusion von mobilkom austria und Telekom Austria TA AG)
seit 2009 Generaldirektor, Telekom Austria Group

Dr. Karsten BENZ

Member of the Executive Board and Chief Commercial Officer, Austrian Airlines AG, Vienna

1990-1997 Management Accounting, Lufthansa German Airlines, Frankfurt
1997-1999 Head of Sales Management Accounting, Lufthansa German Airlines, Frankfurt
1999-2000 Head of Network Development and Fleet Planning, Lufthansa German Airlines, Frankfurt
2000-2005 Head of Network Planning, Lufthansa German Airlines, Frankfurt
2005-2012 Head of Sales & Services Europe, Lufthansa German Airlines, London/Frankfurt
since 2012 Chief Commercial Officer and Member of the Executive Board, Austrian Airlines Group, Vienna

Dr. Andreas BIERWIRTH

Chief Executive Officer, T-Mobile Austria GmbH, Vienna

2002-2006 Managing Director, Germanwings GmbH
2006-2008 Vice President Marketing, Lufthansa AG
2008-2012 Member of the Board, Austrian Airlines AG
since 2012 Chief Executive Officer, T-Mobile Austria GmbH

DI Dr. MBA Sabine HERLITSCHKA

Chief Executive Officer, Infineon Technologies Austria AG, Villach

1990 Forscherin, Dissertantin und Post Doctoral Research bei Immuno AG
1996 Referatsleiterin und stv. Direktorin des BIT-Büros für Internationale Forschungs- und Technologiekooperation
2003 Praktika bei der U.S. National Science Foundation, American Association for the Advancement of Science und Kooperation mit dem Wissenschaftsberater im U.S. Department of State, Washington DC
2003 Vizerektorin für Forschungsmanagement und Internationale Kooperationen an der Medizinischen Universität Graz
2006 Bereichsleiterin Europäische und Internationale Programme der FFG Österreichische Forschungsförderungsgesellschaft, Wien
2010 Fulbright Scholar an der George Washington University und Johns Hopkins University/School of Advanced International Studies, Washington DC
2011 Vorstandsmitglied der Infineon Technologies Austria AG
seit 2012 Vorstand für Technik und Innovation der Infineon Technologies Austria AG
seit 2014 Vorstandsvorsitzende der Infineon Technologies Austria AG

Zoe SCHNEEWEISS

Economics Editor, Bloomberg News, Zurich

2006-2008 Associate, Ballard Associates, London
2008-2009 Reporter, Bloomberg News, Vienna
2009-2012 Bureau Chief, Bloomberg News, Vienna
since 2012 Economics Editor, Bloomberg News, Zurich

Dr. Hedwig SCHNEID

Journalist, Die Presse "Economist", Vienna

1972 Wissenschaftliche Hilfskraft, Institut für Publizistik, Universität Salzburg
1974 Assistentin, Amt der Steiermärkischen Landesregierung, Institut für Medienpädagogik
1978-1985 Redakteurin, IBF - Informationsdienst für Bildungspolitik und Forschung
seit 1985 Wirtschaftsredakteurin, Tageszeitung "Die Presse"

Economic Symposium

show timetable

26.08.2014

14:00 - 14:10OpeningPlenary
14:10 - 15:40New Goals for the EconomyPlenary
16:10 - 17:40The End of Conventional WisdomPlenary
17:40 - 18:00Political CornerPlenary
18:30 - 19:30Umverteile und herrsche. Wem gehört der Wohlstand?Partner
20:00 - 21:30Learning from the Care EconomyPlenary
21:30 - 22:30Smart Blue HourSocial
22:30 - 23:45Cello Goes Tango or Cello Goes South AmericaCulture

27.08.2014

08:00 - 08:4514th management club Business Breakfast "Österreich braucht Europa"Partner
09:00 - 10:10Global Division of Labour - How Can Europe Prosper?Plenary
11:00 - 13:30Breakout Session 01: Hayek vs Keynes: The Most Important Liberal EconomistsBreakout
11:00 - 13:30Breakout Session 02: A New Economic and Competition Model for EuropeBreakout
11:00 - 13:30Breakout Session 03: Critical Success Factors of Entrepreneurial EducationBreakout
11:00 - 13:30Breakout Session 04: Intellectual Property - A System at the Crossroads?Breakout
11:00 - 13:30Breakout Session 05: US Focus Back on Industry - Blessing or Curse for Europe?Breakout
11:00 - 13:30Breakout Session 06: Clash of Generations - Corporate Cultures Put to the Test by New Working EnvironmentsBreakout
11:00 - 13:30Breakout Session 07: Re-IndustrialisationBreakout
11:00 - 13:30Breakout Session 08: Work to Live, or Live to Work? - Changing Working EnvironmentsBreakout
11:00 - 13:30Breakout Session 09: Putting User Innovation to WorkBreakout
11:00 - 13:30Breakout Session 10: The Future of Corporate Learning - What Makes Businesses Successful?Breakout
12:10 - 12:30Political CornerPlenary
13:30 - 14:30Lunch ReceptionSocial
14:30 - 17:00Breakout Session 11: The EU's Energy and Climate Policy - A Threat to Our Industries?Breakout
14:30 - 17:00Breakout Session 12: Inequality Before and After the Financial CrisisBreakout
14:30 - 17:00Breakout Session 13: Schengen for Data: What Is Necessary, What Is Feasible?Breakout
14:30 - 17:00Breakout Session 14: Good Is the Enemy of Great - What Distinguishes Leading Enterprises from Others?Breakout
14:30 - 17:00Breakout Session 15: Room for CreativityBreakout
14:30 - 17:00Breakout Session 16: Business Development Based on Design ThinkingBreakout
14:30 - 17:00Breakout Session 17: The Key to Innovation - People, Mindset, TechnologiesBreakout
14:30 - 17:00Breakout Session 18: Sharing Economy - Cooperatives in the 21st CenturyBreakout
14:30 - 17:00Breakout Session 19: The Economic Future of EuropeBreakout
14:30 - 17:00Breakout Session 20: From Wallet to Smartphone - Challenges and Opportunities of the Digital World of FinanceBreakout
18:00 - 19:30Peter Drucker Special Lecture: Property or Communities? The Upcoming Challenge for CompaniesPlenary
21:00 - 22:00Don't Mind the GapCulture

27.08.-28.08.2014

Magenta NightSocial

28.08.2014

08:00 - 09:00Breakfast Club 01: In Conversation with: Alexa L. WesnerPartner
08:00 - 09:00Breakfast Club 02: In Conversation with: Franz FischlerPartner
08:30 - 09:00"Kater" BreakfastPartner
09:00 - 10:00The Economy According to the MediaPlenary
10:00 - 10:30Cooperation in EuropePlenary
11:00 - 12:20Europe's Economy and the Next GenerationPlenary
12:20 - 12:30ClosingPlenary
22:00 - 23:30Brunnhilde - DJanes NightCulture