Aachen, Germany

Management and Engineering in Technology, Innovation, Marketing and Entrepreneurship

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: Master
Kind of studies: full-time studies, part-time studies
Studies online Studies online
University website: www.rwth-aachen.de
Engineering
Engineering is the creative application of science, mathematical methods, and empirical evidence to the innovation, design, construction, operation and maintenance of structures, machines, materials, devices, systems, processes, and organizations. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application. See glossary of engineering.
Entrepreneurship
Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs
Innovation
Innovation can be defined simply as a "new idea, device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention. Innovation often manifests itself via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
Management
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being innovation.
Technology
Technology ("science of craft", from Greek τέχνη, techne, "art, skill, cunning of hand"; and -λογία, -logia) is first robustly defined by Jacob Bigelow in 1829 as: "...principles, processes, and nomenclatures of the more conspicuous arts, particularly those which involve applications of science, and which may be considered useful, by promoting the benefit of society, together with the emolument [compensation ] of those who pursue them" .
Innovation
Defined simply, innovation is, of course, the introduction of something new. We presume that the purpose of introducing something new into a process is to bring about major, radical change. Process innovation combines a structure for doing work with an orientation to visible and dramatic results. It involves stepping back from a process to inquire into its overall business objective, and then effecting creative and radical change to realize order-of-magnitude improvements in the way that objective is accomplished.
Thomas H. Davenport, Process Innovation: Reengineering Work through Information Technology, Harvard Business School Press (1993).
Engineering
A man should build a house with his own hands before he calls himself an engineer.
Alexander Solzhenitsyn (1963), One Day in the Life of Ivan Denisovich, p. 98
Marketing
The future of marketing belongs to honest information, accurate data and clear claims based on truth.
Patrick Dixon Building a Better Business (2005)
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