OREANDA-NEWS. OMV and the Vienna University of Economics and Business (WU) are launching a comprehensive cooperation initiative for research and teaching. Alongside the regular exchange between the partners about the latest research developments, a new institute for “Social Entrepreneurship, Sustainability and Performance Management” will be set up as part of the initiative and will include an endowment professorship. The cooperation also includes the sponsorship of rooms in the Library and Learning Center at the new campus. The cooperation will run initially for five years and complements the collaboration already in place. OMV CEO Gerhard Roiss sees the cooperation as a milestone: “Because today’s education is tomorrow’s competitive edge”. For WU Rector Christoph Badelt “anchoring WU firmly in the world of business is a particular priority”.

The planned title for the endowment professorship is “ Business Performance Management and Sustainability” at the newly established institute for “Social Entrepreneurship, Sustainability and Performance Management”, part of the Department of Strategic Management and Innovation. The focus will be on evaluating the economic performance of companies and integrating social innovation and sustainability into the core business of established companies.

Mutual benefits from knowledge exchange

WU has been a partner in the international research project GOLDEN (Global Organizational Learning and Development Network) since 2011. The initiative’s goal is to pinpoint new ways in which companies can conquer the global challenges related to economic, ecological and social sustainability. The plan is for both cooperation partners to secure the regular exchange of research findings and practical experience. In addition, a knowledge network for the energy sector will be set up; its remit will include identifying and evaluating findings and industry trends with a focus on fossil fuels. The goal is to establish a knowledge network by exchanging expertise and promoting research. OMV CEO Gerhard Roiss: “Companies must take their responsibility towards society more seriously. High-quality education will unlock the future potential for young people, thereby securing Austria’s standing as a great place to do business. The collaboration with WU is another milestone in our cooperation with top universities”.

Intensive anchoring in the world of business

“As a university of economics and business, anchoring WU firmly in the world of business is a particular priority. We are delighted to have gained OMV – one of Austria’s largest companies – as a cooperation partner. Through the ongoing exchange of information and knowledge we expect to see important drivers from the real-life business world for our existing activities in the fields of social innovation, sustainability and business performance. Our goal is to give these topics greater attention in both research and teaching and – thanks to OMV’s support – we can also dedicate resources to this project in the future”, WU Rector Christoph Badelt on the cooperation.

Cooperation plain to see on new campus

The cooperation between WU and OMV will be clearly visible at the new WU Campus, set to open in October 2013. The rooms in the Library and Learning Center will bear the name “ OMV Library Center”. “We view the participation on campus as a declaration of long-term teamwork. Sponsoring the library clearly underlines this intention”, said Rector Badelt. The Library and Learning Center, designed by Zaha Hadid, forms the hub of the new campus and will house event rooms, study services, the Vice Rector for academic programs, the WU ZBP Career Center, a cafe and a bookshop, alongside the rooms of the OMV library centre.

Existing activities to continue

This is not OMV’s first cooperation with WU. OMV is a corporate partner of the WU ZBP Career Center and attends regular career events in this role. What is more, both OMV and WU are members of the CEMS network (The Global Alliance in Management Education), consisting of 29 universities and around 70 companies worldwide. As part of this network, WU is the only university in Austria to offer the dual Masters degree program “ International Management/CEMS“. OMV CEO Gerhard Roiss: “We know that as an international, integrated oil and gas company the only way we can master the challenges of the changing energy landscape is with the best technologies and the best minds. In this regard, WU is an ideal partner in making us fit for the future”. Further steps are in the pipeline for this cooperation including an OMV presence in the “Energy Management” MBA at the WU Executive Academy.