03.06.2022

Keynote "Rethinking Business Globally" at the corporAID Conference

On the second of June, Prof. Dr. Philipp von Carlowitz gave a keynote speech on "Rethinking Business Globally" at the corporAID conference "Global Austria - New Perspectives for a New Normal". The corporAID conference highlights how emerging and developing countries are gaining importance in the face of current crises, megatrends and upheavals and how Austrian companies can also be part of solutions and take advantage of opportunities. In his keynote, Prof. Dr. Philipp von Carlowitz focused on the African market and analyzed existing potential to facilitate market entry for companies. 

In his lecture, Prof. Dr. Philipp von Carlowitz gave examples of disruptive changes in the global business environment, such as the end of globalisation, the block formation of regions, technological disruptions and climate change. He then discussed these with regard to new challenges and opportunities arising for Austrian companies in emerging markets, and in particular with regard to sub-Saharan Africa. With the increasing number of conflicts - currently the Ukraine war - global risk assessments are changing in favour of the emerging markets, whose risk assessment is likely to be relatively lower than in the traditional markets. On the part of financiers, there are greater chances that investment projects will pay off. Another point was the positive impact of new technologies in connection with operational challenges, which can be partially reduced and circumvented. 

The African market offers opportunities for European companies, which are increasing due to global shifts and changes. For example, the severe impact of climate change on agriculture is leading to higher water scarcity and lower production levels. The use of modern agricultural technologies for irrigation and drinking water treatment creates business opportunities for Austrian companies. Finally, the importance of an on-the-spot presence was emphasised, which, according to a study, Austrian companies will increasingly strive for, as this will increase market cultivation efficiency. 

A subsequent panel offered the opportunity to explore topics in greater depth and resulted in a stimulating discussion.