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Igor Pejic among finalists for prestigious Bracken Bower Prize

January 13, 2017

Professional MBA student was one of 3 finalists of the renowned competition

With his book proposal “Blockchain Babel: How Management Theory Can Bring Clarity to the Crypto Craze”, Igor Pejic, Marketing Director at Austria Card, made it to London as one of 3 finalists for the prestigious Bracken Bower Prize, which is awarded annually by the Financial Times and McKinsey for the best book proposal of the year. The Professional MBA Marketing & Sales student had the idea for his book while researching for his master's thesis at the WU Executive Academy. Congratulations on this remarkable achievement!

Curiosity and commitment pay out: Igor Pejic's most recent success was born when, in the course of researching his master's thesis, he delved deeply into a generally neglected subject: “I have noticed that most of what you find about the topic I am working on is either highly technical or speculative,” says the Professional MBA Marketing & Sales student. In an effort to remedy the situation, the former business journalist decided to write a proposal for a book covering blockchain—the technology behind cryptocurrencies such as bitcoin—in a practical, easy-to-understand manner.

It did not take Igor Pejic long to realize that this would be a topic of great interest.

Mag. Mag. Igor Pejic, MBA

  • Student | Marketing Director at Austria Card

Banking is the lifeblood of capitalism and the world economy, but it is also one of the last bastions to defy the digital age. Blockchain technology marks a turning point. I work in the digital security and secure transactions business, so I quickly realized the significance of this technology.

It is against this backdrop and in the light of market mechanisms that have been empirically researched that Igor Pejic sets out to analyze the technology's potential from a strategic management point of view: “Doing a lot of research has enabled me to write a proposal for a book that is not only fact-based but also easy to understand, even for people who are no subject-matter experts.”

Clarity instead of myths

In his book proposal “Blockchain Babel: How Management Theory Can Bring Clarity to the Crypto Craze”, Igor Pejic outlines how blockchain—the technology behind cryptocurrencies such as bitcoin—will transform the banking and finance business. The blockchain protocol makes it possible to effect transactions almost instantaneously and at no cost. “As a result, people can cut out the middleman when it comes to transferring money and assets. This technology has the potential to fundamentally change the value chain, the service-provider landscape and the business models in the banking sector. Not fintech start-ups but data collectors will be the ones to challenge banks,” concludes Igor Pejic.

Refreshing, original and creative

The panel of judges for the 15,000-euro Bracken Bower Prize praised the book proposal for its considerable potential. In late November 2016, Igor Pejic and the two other finalists attended a ceremony in London.

Igor Pejic (left) and 2 other finalists of the Bracken Bower Prize at a ceremony in London.
Igor Pejic (left) and 2 other finalists of the Bracken Bower Prize at a ceremony in London.

The Bracken Bower Prize is a prestigious award handed out annually by the Financial Times and McKinsey for the best book proposal of the year. The winning entry must provide a compelling and enjoyable insight into future trends in business, economics, finance or management. The panel of judges is looking for authors aged under 35 with a good writing style, characterized by knowledgeability, creativity and originality, who propose a book that breaks new ground or explores pressing business challenges in an original way.

Prof. Barbara Stöttinger, Dean of the WU Executive Academy and Academic Director of the Professional MBA Marketing & Sales, congratulates Igor Pejic on his success: “I am always filled with pride when our students accomplish such outstanding achievements and are given the recognition they deserve. Igor Pejic's proposal is not only a refreshing alternative to the existing specialist literature, which tends to focus too much on theory, but also a wonderful testament to the effectiveness of the WU Executive Academy's practical approach.”

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