Six students face up to the pitch challenge
Based on a course in the 5th semester, six students from the Bachelor’s program in Management – Entrepreneurship presented their sustainable Blue Ocean strategy to high-ranking departments at OMV AG – including, for example, Carbon, Energy & ESG Management, New Energy Solutions Portfolio Management, Carbon Management, Environmental Management and Sustainability & ESG Management.
Their starting point was the question “which unique sustainable strategy can an oil company use to position itself successfully in a blue ocean”. As a solution in their pitch, the students presented an innovative sponge that soaks up oil on and under water. The sponge was developed by a research facility of the US Department of Technology. The sponge is in its final development phase and is therefore particularly suitable for entering a blue ocean, as it is not yet available for purchase.
At the end of the presentation, there was great praise from OMV for their presentation of the strategy, but also interesting critical questions the students had to face, for example, the estimated market shares for such technologies, why no other oil company uses this sponge so far, etc. The students confidently answered the critical questions from OMV and thus showed their excellent preparation for this meeting and their commitment. Things certainly remain exciting. We stay tuned…