Subject with high returns – Why business studies at universities in Germany must not be weakened by Prof. Dr. Friedl and Prof. Dr. Hutzschenreuter
On April 18th 2019, the Frankfurter Allgemeine Zeitung published an article by Prof. Dr. Gunther Friedl and Prof. Dr. Thomas Hutzschenreuter why business studies at universities in Germany must be strengthened.
Currently, a discussion is wafting through the higher education policy scene to restrict, if not completely abolish research-based business economics. Prof. Dr. Friedl and Prof. Dr. Hutzschenreuter, both teaching at TUM School of Management, represent the opposite view, namely that university business studies should be expanded and that the cooperation with other disciplines should be strengthened, especially in technological and social fields.An interdisciplinary approach as well as change and innovation management are fundamental aspects nowadays and can only be guaranteed trough research and teaching, what has always been the mission of universities.
And when this happens in the right way, university business administration shows its strength. According to “Deutscher Startup Monitor” more than 40 % of startup founders studied business administration and the Technical University of Munich is one of the top three universities where founders have completed their studies. A namely reason for this is the integration of technical subjects, which take up 30 % of the study time.
But the scientific relevance should not be forgotten either, as can be seen from the way in which the recent banking and financial crisis in Europe has been overcome with business economist Jan-Pieter Krahnen playing a key role in the consulting process. He is Director of the Center for Financial Studies at Goethe-University Frankfurt and helped the government as well as the EU-Commission with his expertise.
Instead of questioning the university business administration, we should focus on how much it contributes to prosperity in Germany – at low cost and with high returns.
Image: © denisismagilov / stock.adobe.com
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