engleski

Business Impact in the Education Sector: The Case of Oil&Gas Company MOL

This case study deals with the problem of shortage of highly qualified employees that would be working in oil and gas industry and in other sectors in demand of technical professions in coming decades and the way it has been dealt with by MOL, the leading Central East European oil and gas company based in Budapest. The problem was caused by decreasing interest of secondary school students to study natural and technological sciences which are considered very difficult. In addition, young people’s perception is that the chances for employment after diploma would be very limited. This has not only been the problem for the companies that rely on staff qualified in technical and natural sciences but also a wider social problem since with the rapid development of technology the need for qualified professionals in natural and technical sciences has been increasing. The purpose of the case study research was to investigate the process, results and implications of MOL`s policy and its social impact in the education sector. The theory behind the case is the concept of creating shared value as it is stipulated by Professor Michael Porter. Through seven years, MOL had followed the logical evolvement scenario implied in the possible elaboration of this concept. The company management was stimulated by the challenge to search a solution that would benefit both business and the society. The fact that in the process the company grew to be the second most desired employer in Hungary illustrates the argument that shared value implementation contributes to ‘legitimising business’. Programs for young people that are subject of this case study have received extensive media coverage in a number of countries, which has additionally contributed to raising the bar in recruitment policies of businesses in these countries. The rate of students enrolling in technical schools also increased. The case study research is based on secondary sources from the company archives, public web sites and media and interviews with former and current executives of MOL and the participating students.

corporate social responsibility; shared value; human resources

nije evidentirano