Schumpeter for the 21st century
Conducting business in an entrepreneurial way and having the capacity for innovation are the most important competitive factors in many business sectors today. To this end, the Austrian-born economist, Joseph Schumpeter, created the term "creative destruction": The stronger incessantly pushes the weaker. The existing economic structure is altered through innovation. Companies failing to rise to this challenge disappear from the market place. However, anyone determining the rules of the game as an innovator, not only generates wealth and social benefits, but may also achieve a temporary monopoly profit.
Innovations are not just the rare, trailblazing "break-throughs". Value is alos generated from companies by creative product improvements, altered processes, new markets and more intelligent organizational syltes. Entrepreneurial opportunities are constantly arising in technologies and markets, and many ideas are just waiting for their commercial implementation. The ability to make use of them will become a key qualification for executives and managers. It is particularly at the interface between economics and technology that there lies a great deal of unexplored potential.
The Professional MBA Entrepreneurship & Innovation provides the appropriate skills and techniques, and thereby teaches entrepreneurial thinking and acting. The lecturers are internationally renowned experts. The organizers, the TU Wien and the Vienna University of Economics and Business (WU), represent the link between technological excellence and business competence. This Professional MBA is an important step in the transfer of cutting-edge knowledge and management skills at the highest international level.
In this program, innovation is understood as the process through which knowledge and creativity lead to product or service changes. Entrepreneurship is then the process through which knowledge and creativity generate new ways of delivering these products and services, either through a new organization or through reformation of an existing enterprise.
The Professional MBA Program comprises of general economic science modules and specialist in-depth modules. The basic modules of economic science raise all of the participants to a common level of sound, fundamental economic knowledge and serve as quality assurance for knowledge that has already been acquired.
In the second year, the professional specialization and immersion in the subject matter take place. The final part of the MBA Program serves for the consolidation and integration of what has been learned, as well as the writing of a practically-orientated Master's Thesis.
For further information on the contents on the general as well as specialization modules, please visit https://www.tu-wu-innovation.at/program/curriculum/
To provide the participants with some special insights into the Amercian way of doing business and pushing innovation, a field trip to the Boston area is also an essential part of this MBA program. The schedule will include lectures at the MIT Sloan School of Management and the Harvard Business School as well as meetings with venture capitalists, business angels, founders of start-ups and much more. For futher information on the field trips, please visit https://www.tu-wu-innovation.at/program/field_study/
The Professional MBA Program is aiming mainly at people operating at the gateway between technology and economy and those who want to operate in this area in the future:
Potential founders with technological background