Corporate Management & Economics

Vision, mission, goals, strategy, ethics and sustainability are objects of normative management, which are explicitly connected with acting actors of companies, so that optimizations of business structures and processes are connected with action models of management. Learned knowledge (models, tools, concepts, theories, stories with a view to entrepreneurial success) is thus not only rationally brought together with alternatives and options for action, but is under the regulative idea of how situationally, authentically and/or principally wise management thinking - and acting - is to be carried out.

Based on the normative and strategic objectives of business administration, the pragmatic implementations are therefore particularly significant, i.e. that already in pragmatic, concrete-practical action orientations business and economic instructions are taught. Mindfulness, evidence-based management, PSI (personality-system-interactions), Coase and the consequences, Mises` praxeology and Hayek`s epistemology, game theory as well as Bayesian decision theory, micropolitics, behavioral economics thus translate the normative, strategic and operational dimension of business administration into concrete, useful application knowledge. In addition, the considered action models allow to operationalize transitions and demarcations to an entrepreneurial spirit in the context of the SME study program, so that business economists sometimes think like entrepreneurs - and these in turn combine a gain of knowledge with business management tools - in order to lucre regional economic spill-overs in the sense of opposing rent transfers due to their employment-effective innovations.

In order to be able to fruitfully design a strategic fit between companies and the environment, macro- and microeconomic insights are indispensable beyond behavioral economic models:

• Inflation
• Monetary and fiscal policy
• Location and industrial policy
• Growth and sustainability (SDGs, post-growth, circular economy)
• Behavioral economics

are knowledge that will ever determine an entrepreneurial success. Furthermore, digital economics is taught in the department as part of microeconomics, so the success of platforms is insightful: direct and indirect network externalities and economies of scale, a digital double whammy, determine value creation in the digital world.

Macroeconomic facts such as inflation, structural and frictional unemployment, etc. are inserted into the framework of EU integration in the department, so that companies will know the constraining and enabling fields of action and therefore develop coordinated or/and disruptive strategies. The knowledge taught in the department therefore provides insights that convey global and regional value creation potentials together.