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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,
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Admitted individuals must hold an academic degree along with several years' relevant work experience and adequate knowledge of the English language. In exceptional cases also persons with an equivalent qualification - i.e. activities similar to those of a university graduate or relevant professional experience - may be admitted.
EUR 33,000 (excluding expenses for travelling and accomodation)
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