December 12, 2016

Zeitgeist – the entrepreneur as a major force in the 21 century economy


Professor Nikolaus Franke, one of the Academic Directors of the joint professional MBA program offered by the WU Executive Academy and the Continuing Education Center of TU Wien - MBA Entrepreneurship & Innovation – explains why entrepreneurship represents the keyword of today’s competitive and prosperous market economy, and further depicts that it is a skill that needs to be learnt.

Referring to the economists Peter Drucker and Joseph Schumpeter, one of Franke’s key messages in his interview with the business journal „medianet“ is that entrepreneurship is not only learnable but also indispensable. According to Franke, developing an entrepreneurial spirit is one of the most essential skills of the 21st century society, which is driven by changes as never before in its history. He refers to a current study of the World Economic Forum, which shows that major industrial innovations, such as digitalization, will lead to millions of job losses within the next few years. This will especially affect low-qualified and routinized jobs. As a consequence, the number of positions requiring a higher level of qualification will increase even more as the demand for innovation keeps growing. The ability to think and act as an entrepreneur is a unique characteristic which has to be learnt. The best way to learn it is to become familiar with the existing knowledge and learn from others’ experience, says Prof. Franke.

Full article (in German): http://medianet.at/article/entrepreneurship-peter-druckers-zauberformel-fuer-das-21-jahrhundert-11725.html

 

 


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