23rd Controlling Insights Steyr: Austria and Europe in global competition

For the 23rd time, the International Association of Controllers (ICV) hosted Controlling Insights Steyr on the campus of the University of Applied Sciences Upper Austria. The event offered controllers and managers the opportunity to discuss strategies and ways in which companies can assert themselves in an economic environment characterized by a flood of profit warnings, layoffs and insolvencies of former flagship companies.

Decisive action is needed

FH-Prof. Dr. Heimo Losbichler, Chairman of the Board of the ICV, opened the conference with a sober look at the current challenge: Austria as the leader in the increase in unit labor costs and the laggard in the increase in productivity, expensive energy, regulation, political uncertainties (a not-yet government in Austria, a no-longer government in Germany, a still-forming EU Commission and unpromising announcements by the new US President) as well as challenges due to global power shifts. “We are facing long-term structural challenges that go far beyond the economic downturn,” said Losbichler in his opening speech. With a look at the then depressed Swiss watch industry and the resulting Swatch success story, he referred to the opportunities for success in Europe as well. Swatch successfully fought off competition from the Far East in the low-price segment in the high-wage location of Switzerland.Nikolas Hayek, the father of the company’s success, blamed the lack of competitiveness not on high Swiss wages, but on poor management and a lack of fighting spirit. +

Highlights of the program

In his keynote speech entitled “Ways out of economic stagnation”, Prof. Dr. Gabriel Felbermayr inspired the audience with his razor-sharp, albeit not very encouraging, analysis of Europe’s competitiveness in comparison to the USA and China and comparisons between Germany and Austria. Prof. Dr. Walter Feichtinger, President of the Center for Strategic Analysis, then analyzed the geopolitical situation in his lecture entitled “World out of joint – where does that leave Europe?” and called for Europe to be more capable of taking action.The presentation “Sustainability as an opportunity and not a burden” by Ralph Tiebel, who provided insights into the transformation of Siemens Energy and the growth driven by sustainability, was particularly motivating. Another highlight was the world-renowned Microsoft expert Leila Gharani, who impressively demonstrated how AI in Excel and C can take the strain off controllers in their day-to-day work.The ICV Newcomer Award for the best thesis in the German-speaking university area went to Annalena Beuchel (WHU) for her master’s thesis on planning in the VUCA world, which was written in collaboration with Henkel AG.The technical conclusion was dedicated to the topic of restructuring. One of Austria’s most respected restructuring experts, Dr. Gerhard Wüest, Management Factory, gave valuable tips based on his experience of more than 140 cases. The emotional highlight was the closing session with Olympic champion Michaela Dorfmeister and her view of success through passion and perseverance.

Summary

The presentations and discussions showed that it is high time to act: for Europe, for Austria, for every company and for each and every one of us. “If you don’t have a serious plan, you fulfill the plans of others! While China is strategically occupying industries of the future, we in the EU are discussing the standardization of summer time. We must finally get into gear, because the so-called turnaround time must not become the end time,” said the host FH-Prof. Losbichler in his closing speech.