The Most Prominent Business Schools of Germany, 2023.pdf

EDITOR’S
NOTE
nternational education gained importance
Iin the past few decades. From the scores
of foreign universities mushrooming with
flashy names and titles, only a handful have
contributed to building capable business
professionals. From several destinations for
international education, Germany has recently
emerged as a promising and rewarding
location for quality education that transformed
modern business leaders and offered immense
scope for growth in Germany itself. As the
world knows, Germany is an advanced
country in engineering, automobile,
technology, science, research, etc. sectors; this
prowess is reflected through its educational
practices that imbibe the highest importance to
quality, efficiency, impeccable time
GERMANY
EMPOWERING DESTINATION
FOR INTERNATIONAL
MANAGEMENT EDUCATION

management, safety standards, mutual respect,
and cooperation.
The level of education of German universities
and management schools has been unmatched
for its deep and hardcore professional teaching
methodologies with state-of-the-art
infrastructure equipped with advanced coaching
practices. The German business schools have
been driven by numerous inﬂuencing factors like
high standards, modern pedagogy, global
curriculum, adaptive methodologies, versatile
training techniques, and the enhanced business
potential of the graduating candidates. Unknown
to many, Germany is one of the very safe, most
encouraging, engaging, and empowering
destinations to build a long and growing career.
The Knowledge Review magazine is pleased to
present you its latest edition, "The Most
Prominent Business Schools in Germany 2023"
which showcases some interesting glimpses of
promising business schools that have
transformed the paradigms of business
education, boosting the new age
entrepreneurs towards greater heights.
Our in-house editorial team has equipped the
edition with a couple of articles that will
empower your knowledge fulcrum.
As you ﬂip through the powerful dimensions
of impactful business schools, you will enjoy
inspiring and enriching vibrations from
within.
Hope you have an engaging and captivating
experience. Cheers to Prosperity! T R
- Sonia Shukla
฀Sonia Shukla

HOCHSCHULE
FURTWANGEN
UNIVERSITY
Business School
GISMA
BUSINESS SCHOOL
08 COVER STORY
The Educational Powerhouse that
Trains the Future Titans
26
NORDAKADEMIE
40
NON-PROFIT CORPORATION
UNIVERSITY OF ECONOMICS
Leveraging Business Study and
Economics for Development
PROFILES

EVOLVING BUSINESS
EDAGOGIE
The Evolving Role of Technology
in the Business Education
22
MODERN EDUCATION
Trends Impacting
Business Education
36
ARTICLES

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JANUARY, 2023
Sonia Shukla
David Brown

URL
Name of the Institution Brief
GISMA Business School
www.esb-business-school.de
GISMA Business School is committed to providing
supplementary business education with a unique
blend of theory and practice, effectively lling the
gap between conventional university studies and the
shifting requirements of the global marketplace.
HFU Business School
www.iu.org
IU International University
of Applied Sciences
www.nordakademie.de
HFU Business School's closely-knit learning
environment offers business courses that enhance
students' sensitivity, awareness and ability to reach
high levels of performance working on complex
real-world projects.
NORDAKADEMIE
Graduate School
NORDAKADEMIE Graduate School offers the
largest range of on-site, part-time master’s
courses, with practical application and
comprehensive support, above all, the feasibility
of being able to complete the courses.
ESB Business School
ESB Business School has stood for over more
than forty years by living internationality,
practical orientation and sound academic
training in business administration. It is one of
the largest business schools in Germany.
www.gisma.com
IU International University of Applied Sciences offers
students the opportunity to advance their knowledge
and career through exible study models. Designed
with an innovative and digital approach, it provides
accredited higher education programmes.
www.hs-furtwangen.de
The Most
Business
Schoolsin
GERMANY
2023
PROMINENT

The Most
PROMINENT
Business Schools in
GERMANY
2023

HOCHSCHULE
FURTWANGEN
UNIVERSITY
Business School
The high quality and strong prac cal orienta on of
the degree programs facilitate entry into professional
life. As a result, our graduates are sought-a er
specialists for every company.

In today's modern global economy,
it is no longer enough that a
business graduate excels in
business. They more often than not
need to have an understanding of
technological and international aspects,
too.
Thus, most universities sought to
integrate such knowledge into their
programme. HFU Business School,
however, found themselves in the
enviable position of being part of
Furtwangen University (HFU), an
established technical university of
excellent standing. Thus, HFU
Business School merely had to reach
I for international finance and
international management at the still
young HFU Business School. From the
very start, he worked tirelessly for its
success and continuous development
and innovation. Both academic
excellence and internationalization
where amongst the key issues for both
him and the faculty as a whole.
Internationality is Key
From its inception, it was the HFU
Business School’s aim to provide
outstanding international business
education for an ever more global
world. Internationality is anchored in
the HFU's strategy and mission
statement. And HFU Business School
seeks to realize these goals by
educating students from all over the
world in a truly international
environment, preparing them for
careers anywhere in today's global
world.
Illustrating the university`s level of
support for internationalisation,
Professor Michael Lederer explains,
"Individual support for our
international students is provided by
our International Center and staff
within the faculties, language skills are
taught by our School of Languages and
Cultures, and third-party funding is
acquired by Global Services.
Additionally, HFU cooperates with
more than 160 partner universities all
around the world."
Transcultural Business Education
For all HFU Business School study
programme, intercultural and
transcultural aspects have been integral
study content from the start, as
emphasise by Professor Michael
Lederer says, "Our research and
teaching on transcultural competence
is an example of how international and
out and create links with their technical
counterparts in their university.
In our search for 'The Most Prominent
Business Schools in Germany 2023',
we caught up with Professor Dr
Michael Lederer, Furtwangen
University's Vice President
International Affairs and Executive
Education. Sharing his 25-year
journey with the prestigious business
school with us, he also explains what
makes HFU Business School unique
and how it became a prominent
educational hub for international
business in Germany.
Innovating Modern Business
Education
Initially, HFU was a university
dedicated to engineering and
technology. As such, it took (and still
takes) great pride in being a pioneer
and innovator of engineering
education. Thus, the inclusion of
business studies amongst the study
programme offered, was an obvious
step for HFU allowing it to continue
moving forward as an innovative
educator.
Based on the idea of globalization and
international business, the HFU
Business School was established
in1995 at the university's
Schwenningen Campus. Over the
course of the following twenty-seven
years, the business school has seen
steady growth both in student numbers
and in terms of innovative academic
content such as business psychology
and international business
management.
A Career Dedicated to Business
Education
It was early 1998, when Professor Dr
Michael Lederer started as professor
Our teaching
on transcultural
competence is an
example of how
international and
experiential
learning formats
play an important
role at HFU
Business School to
strengthen our
students’global
cooperation skills
and prepare them
for an international
career.
The Most Prominent Business Schools in Germany 2023

from the business world from around
the world. In this way, they experience
and practice ﬁrst-hand what it means
to co-operate successfully and
sustainably in contexts of cultural
complexity," he further added.
Building an International
Community
The world is becoming increasingly
more global, not least through
technical and digital innovation and
experiential learning formats play an
important role at HFU Business School
to strengthen our students' global
co-operation skills and prepare them
for an international career."
"Through our participation in the
innovative format 'Global Case Study
Challenge' and as a member of the
Transcultural Caravan Network, we
oﬀer our students the opportunity to
work on current issues with partners

most lectures is oriented toward a
global working environment. We have
a professor exchange program with
some of our international partner
universities in order to expose our
students to different teaching styles and
gather first-hand knowledge from
lecturers from different countries."
Student Organisations at HFU
Business School
Only a programme which does not just
teach theoretical knowledge but also
content which is relevant and
applicable in real life, will ever be
successful in the long term. This is
another premise at the heart of HFU
Business School. But this is not just
realized through internship semesters
and theses written in companies: an
important opportunity for the practical
implementation of things learned are
the numerous student organizations run
by HFU Business School students.
Michael Lederer stresses their
importance, "At HFU Business School,
we are very proud of our student
organizations. They all do a great job
in making students feel at home,
providing a community where they can
get involved and a place to make
lifelong friends."
Some of the organisation HFU
Business School students can get
involved in includes:
Ÿ HFU Business School Faculty
Student Council
Ÿ IB Consulting
Ÿ Business Talks
Ÿ AStA Schwenningen (student
union)
Ÿ Enactus
Ÿ Initiatives for kids
Ÿ ISC - International Student
Community.
improvements in communication. The
importance of these developments has
always been at the heart of both HFU
Business School’s academic and its
lived reality: it seeks to educate
international business leaders for a
global world who can work in multi-
cultural teams and achieve
sustainability and understanding.
Professor Michael Lederer asserts the
special importance of global exposure
to business students, "Most of our
undergraduate students spend one
mandatory study and one internship
semester abroad. Given the high
percentage of international students
from around the globe, our students
study in a truly international
atmosphere. Around 75 percent of all
our HFU Business School courses are
taught in English. Almost all professors
have worked and lived for several
years abroad. The academic content of

Our teaching on transcultural competence is an
example of how interna onal and experien al learning
formats play an important role at HFU Business School
to strengthen our students’ global co-opera on skills
and prepare them for an interna onal career.

Combining Traditional Teaching
with Modern Education Methods
When asked about how the school
adapted to modern educational means,
the school management said, "We think
that experience-based learning plays a
crucial role in preparing our students
for their professional future. Therefore,
case studies, classroom experiments,
teamwork, and computer-based
business simulations are key to a
successful and satisfying learning
experience for our students.
Furthermore, in most study programs,
project work to gain real-world
practical experience plays an
important role."
Preparing Students for the Future
All HFU Business School programme
are characterized by small group sizes,
first-class lecturers with many years of
professional experience and an
extremely international learning
environment.
In conclusion, Professor Michael
Lederer makes it clear that, "The high
quality and strong practical
orientation of the degree programs
facilitate entry into professional life. As
a result, our graduates are sought-after
specialists for every company."
Achievements and Accolades
Ÿ HFU is Germany's first bilingual
university of applied sciences.
Ÿ Ideal for internationals: more than
80 nationalities on campus.
Ÿ Consistently good track record in
the CHE University Rankings.
Ÿ Modern and innovative degree
programme.
Ÿ Strong research profile.
Ÿ Personal and friendly: small group
sizes (15-50 students).
Ÿ A clean, green, and safe
environment in the Black Forest!
Ÿ Excellent job prospects for
graduates.
Roadmap to the Future
Explaining his vision for the future of
the school, Professor Michael Lederer
asserted, "We are aware that we have
to modernise our study programs
constantly. The business world is
changing quickly, and so do we. One
example: Sustainability is becoming an
ever-greater concern for companies of
all sizes. Taking the ecological and
social impact of business activities into
account is no longer a luxury for
companies but has become an
economic necessity. Therefore, lectures
on the topic of sustainable
development are incorporated into all
our programs, and we offer more
electives in that field."
Explaining this with another example,
Michael Lederer postulates that many
companies need employees who
fundamentally understand both
business and its legalities. And in that
way, he is planning to deepen and
widen their teachings, offerings and
programs specifically in the field of
business law. "We are also constantly
updating and deepening our network of
international partner universities, e.g.,
gaining new partners in Southeast
Asia," he further added.
Professor Michael Lederer is
convinced that, "The war for talent
means that international companies
expect managers to be mobile,
multilingual, stress-resistant and
excellent at communicating across
cultural, professional and
geographical borders. Global job
markets require flexible,
communicative interface
managers, and we show you how to
become one."

TheEvolving
Role of
Technology
in the
Business
Education
Ultramodern technology has
fully changed the entire
education system with
digitally empowered primary
classrooms to doctoral degrees.
Technology has paciﬁed every aspect
of social order and now is the
introductory amenity of life. Just like
other branches of education, a wealth
of technology is getting feasible in the
mainstream of business education. The
technology will redevelop again and
again to cater to the arising
requirements of society in the coming
times.
22 | Jan 2023

www.theknowledgereview.com Jan 2023 | 23
Evolving Business
Pedagogies

The wave of new technologies comes
at a time of great economic pressure on
higher education in general and
business education in particular
because innovation breeds business.
Since technology paves the way for
business, it can be said that business
needs technology to survive. The
business has always lived in human
society since ancient periods. Though
it started with the simplistic barter
system, it would not be the same as it
is today due to the lack of technology
then. The overall business sector would
collapse if one of the companies would
take down technology from business as
the majority of business transactions
and operations deal with technology.
Role in Business Education
Business school learners and trainers
have discussed technology's role in the
learner experience for several years.
But as the applications of new
interactive digital technologies
continue to emerge, so do new
expectations of learners' educational
experience. The COVID-19 pandemic
accelerated this trend, necessitating the
adoption of remote learning
technologies among others at world
institutions. In education, technology
provides students with innumerable
online resources that encourage them
to carry out research and innovations
and eventually make them more
independent. It also simplifies learning
by making concepts simpler.
According to a 2008 business report,
everything we knew about technology
in 2008 will account for only 1 percent
of what we will know by 2050.
In business schools, professors could
make business students experiment
with technology and consider what
they could do with it later as managers.
One needs to develop a systematic
approach to analyse complexity in
understanding businesses of the world.
This experience is much more
interactive and interesting than
ratifying traditional business
magazines. Although group discussions
are important, business schools must
avoid group thinking. Every individual
is fully immersed and can live
experience as an individual. Promote
action-based interactive learning by
discussing new business ideas and how
technology can be used in start-ups in
the best way possible to get the desired
outcome. Today, companies are
looking for people who not only
understand technology but are also
able to connect it with business.
How Best can Technology be Used to
Expand a Business?
Technological trends might suppose of
the way we approach MBA and
engineering. There should be a shift
towards the use of artificial
intelligence, virtual reality and
augmented reality in the business
world. According to 2017 studies,
technological operations in the
education system engage the student in
high-order thinking and develop
communication and skills. He tries to
communicate with data and numbers
and reflects on the gist of the content
rather than talking blatantly. It also
enhances digital faculty. It is noticed
that the perpetration of technology into
education enhances the pupil's
provocation of studies and completing
his tasks. This is not only with school
students but higher and professional
studies.
Technology as a Business Necessity
Business involves communication,
creation and trying to make oneself
known to the world, making it a
complex web of processes.
Technological developments in other
fields only push business further
because no field can work without
business. Buying and selling are
essential elements to make this world
go. Moment, with the help of
technology, anyone can do business
anywhere, right from the four walls of
their room. Technology in business
made it possible to reach the global
market wider. The basic example is the
internet. It is now a common marketing
tool to attract further consumers to
avail of products and services offered
by a variety of businesses. For
example, the extent of social media is
witnessing a swell in the number of
content creators these days. Social
media platforms provide a platform to
demonstrate their talent and make
money out of it because why not?
Nothing comes free of cost. We pay for
entertainment, online food delivery,
online shopping and everything we see.
The ever-changing part of technology
continues to be a challenge for all
educators. The constant conservation
and updating of hardware and software
is a real challenge, especially for
business educators. Many believe that
technology makes students more
socially inactive, which is true to some
extent. We see that a baby lower than a
year is more attracted to the cell phone
display rather than toys. Studies are
going on as to how it will affect the
human brain. But the good part
moment is that artificial intelligence
machines are in a major role. Software
programming is becoming the
favourite subject of students, and this
will surely contribute to the
development of technology.
24 | Jan 2023

GISMA
Business School
The Educational Powerhouse that
Trains the Future Titans
Too many good ideas of the
world die because they lack a
business mind behind them.
Passion, creativity and innovation are
one thing, but the lack of proper
business training can deter you from
providing tools to help you recognize,
identify, and pay attention to
opportunities and value.
There are many business schools
sprouting up every year, but most of
them sorely lack the tools, resources,
knowledge and conviction to train
strong business minds. They
increasingly construct wonderful
models of a non-world. And when the
students graduate from these schools,
they find the real-world business issues
facing
industries and
economies as a whole.
A well-trained business mind can
inspire others by turning ideas into
value generating systems and
ecosystems, creating platforms for
value creation. A strong business-
oriented perspective can see things for
what they are truly worth and what
they can be, exploring the art of the
possible. Your business can be a by-
product of fulfilling your purpose.
Having a foundation in business can
help students become remarkably
strong-headed and marketable
individuals, aiding with their job
search and more effectively the
job/position they end up accepting.
Fortunately, there is a school in
Germany that combines a culture of
fortuitous
business
discipline with an
ethic of
entrepreneurship to train
business-oriented individuals
who embody great performance.
Welcome to GISMA Business School!
Since its establishment in 1999,
GISMA Business School has paved the
way for talented and skilled individuals
to develop tech-driven and innovative
solutions to some of the biggest
challenges in the business world. With
its goals in mind, the institution
continues to expand and grow, helping
students from across the globe to
pursue their dreams and succeed.
GISMA awards both undergraduate
and postgraduate degrees, and is also
trusted to deliver degrees from some of
the top academic institutions across
Europe. GISMA is also known as one
of six business schools in Germany
accredited by the prestigious AMBA
(Association of MBAs) which
represents innovation and excellence in
education – an honour shared by only 2
percent of all business schools
worldwide.
Since 1999, GISMA Business School
26 | Jan 2023

The programmes
range from artificial
intelligence and data
science to business
management and
digital marketing.
Whether you are
looking to feed your
entrepreneurial mind,
or seeking to build the
next generation of
intelligent systems,
you are bound to find
a course that suits
your needs.
has expanded and grown significantly,
and now has 5 locations across
Germany and in London. Additionally,
through a range of partnerships with
schools including the triple-accredited
Grenoble Ecole de Management, The
University of Law and Kingston
University, GISMA has expanded its
selection of programmes providing
more students with the opportunity to
pursue their career ambitions.
In 2021, GISMA Business School
expanded into its brand-new flagship
GISMA Berlin-Potsdam Campus. With
the new campus, the GISMA portfolio
is extending to include programmes
such as data science and artificial
intelligence, all awarded directly by
GISMA Business School. These
programmes allow students to become
even more appealing to the evolving
demands of the job market.
Since all degrees are taught in English,
GISMA attracts a diverse array of
students from across the world and
encourages a global, expansive
approach when it comes to students’
education and future career.
The GISMA Way
GISMA educates individuals to be
leading members of the global business
community. The institution stands for
practice-oriented and inspiring
management education that enables
students to be engaged in life-long
learning and synergising relevant
academic science and practice.

GISMA strongly values diversity in the
backgrounds, ideas, strengths, interests
and experiences of its students, faculty,
and staff. It cooperates with a network
of globally operating organisations in
business and higher education and
supports the business community in its
internationalisation and change
processes by preparing students for the
global and regional (German) business
community.
The expert faculty and staff are
passionate about creating the leaders of
tomorrow. Having experienced
business in the real-world, they
understand how academic theory
relates to real-world conditions and
this comes across in the delivery of
their teaching in order to prepare
students for the ever-changing business
world after they graduate.
At GISMA Business School, students
are supported in their pursuit to secure
internships and job opportunities in
Germany. With the sprawling campus,
GISMA's students have access to
numerous employers from the world's
biggest tech firms as well as a range of
start-up companies. Co-operation
between GISMA and employers has
enabled students to find exciting job
opportunities and work on
collaborative projects.
Rising to the Challenge
Out there, a digital revolution is
occurring in all areas, and with the
view of this, GISMA wants to equip
young professionals with exactly the
right skills for these jobs of the future.
Almost every job will be affected.
Some jobs will disappear entirely. New
jobs, not even thought of today, will
come into being. Human talent though
remains the most important factor.
The future requires courageous
entrepreneurs. Employees with
interface know-how. Specialists for
transformative technologies, inter-
disciplined team players with a sense
of responsibility and leadership,
innovation power and creative
personalities with unique ideas. That's
why digital key competencies are an
integral part of every single GISMA
study program. In addition, it offers
formats in which to train creativity,
28 | Jan 2023

prepare students for the fast evolving
digital revolution.
The programmes range from artificial
intelligence and data science to
business management and digital
marketing. Whether you are looking to
feed your entrepreneurial mind or
seeking to build the next generation of
intelligent systems, you are bound to
find a course that suits your needs.
With some of the programme offerings,
you will also have the opportunity to
do an internship or business project or
spend a semester abroad.
All of its programmes are taught in
English, the world’s foremost language
for global business communication.
The Definitive Difference
Ÿ Accredited by the prestigious
AMBA which represents
innovation and excellence in
education. It is only one of six
business schools in Germany, and is
an honour shared by only 2 percent
of all business schools worldwide.
Ÿ Partnerships with world-leading
business schools in Europe,
including triple-accredited
Grenoble Ecole de Management,
The University of Law and
Kingston University.
entrepreneurial spirit, and leadership
skills. The institute doesn't just do
traditional business; business goes with
tech and vice versa.
On its campus in Potsdam, GISMA is
part of the so-called 'Think Campus'
with start-ups and the SAP Innovation
Center. This neighbourhood means
inspiration, exchange, cross-
fertilization of ideas and networking.
The institute remarks that this is what
the work of the future will look like -
"We no longer think in one box, we are
agile on the move and flexible."
Undoubtedly, this has a big impact on
its students, who can work in a very
hands-on way in many partnerships.
"In leadership, for example, I don't
think there will be a way back to the
old normal, after Corona," commented
professor Stefan Stein, the President
of GISMA Business School. He adds,
"The new normal will certainly have
virtual communication and teams that
are scattered in home offices and
elsewhere, all over the world. This
creates completely new challenges for
the functioning and management of
such virtual teams, the emotional
agility of the employees, and so on. We
have already incorporated this into our
leadership lectures, which of course
will no longer be lectures, but will be
highly interactive, collaborative
sessions with peer-to-peer learning
elements."
The Academic Rollout
GISMA offers a range of accredited
postgraduate and undergraduate
programmes, MBAs, language classes,
a university placement programme and
executive courses with a focus on
teaching practice-oriented skills in
digital transformation, business, and
technology. The institute aims to
We stand for practice-oriented
and inspiring management
education that enables students to
be engaged in life-long learning
and synergising relevant academic
science and practice.
Stefan Stein
President

30 | Jan 2023

Whichever channel our students want to use,
we want to equip them with future-proof
skills to make them highly sought-after
employees.

Ÿ GISMA offers the added benefit of
free beginner German classes.
Learning the German language will
boost employment prospects and
help students stand out to
employers who value strong
communication skills. It will also
help students connect with their
German classmates and interact
with the locals.
Ÿ GISMA co-operates with a network
of globally operating organizations
in business and higher education
and supports the business
community by preparing students
for the global and regional
(German) business community.
Ÿ Benefit from excellent student
services such as a dedicated Career
Centre, visa support and
accommodation team. The
dedicated staff and here to make
sure you have the best possible
student experience studying with
them.
Ÿ Scholarships and flexible payment
plans available so students can
focus on their education without the
stress of worrying about their
finances.
Ÿ Study in an international student
cohort. The alumni of GISMA
represent over 40 nationalities.
Ÿ Discover, thrive and build your
network in the diverse international
environment.
Ÿ In addition, students have the
opportunity to utilise GISMA’s
committed careers centre which can
help them with anything from
writing a CV and applying for jobs,
to practising their interview
technique. With the support of
GISMA's Career Centre, some of
the students have gone on to work
for companies such as Zalando,
Uniqlo, Delivery Hero, Wayfair and
Siemens.
The Cultivated Leader
Professor Dr Stefan Stein is the
President of GISMA Business School
There is a school in Germany
which combines a culture of fortuitous
business discipline with an ethic of
entrepreneurship to train business-
oriented individuals who embody great
performance. Welcome to the GISMA
Business School!
32 | Jan 2023

as well as a member of the Board of
Governors for the University of Europe
for Applied Sciences. He served
previously as the Rector of the
University of Europe for Applied
Sciences and has held various positions
within the university as professor of
'finance and asset management',
Vice-Rector for academic affairs and
founding Dean of the Department of
Economics.
His expertise spans studies for
ministries, banks, and insurance
companies. He is a corporate trainer
for fintech and banking regulation. He
coaches supervisory board members.
Prof Stein holds a doctorate in
economics and was Managing Director
of the renowned institute for ‘banking
and finance’ at the Ruhr University
Bochum for more than 13 years. He is
a member of the supervisory board of
the consulting firm Moore Stephens
Naust AG. He is also a member of the
university council at Shanghai
Polytechnic University.
Achievements and Accolades
Ÿ GISMA Business School was
awarded 'University of Applied
Sciences' status, having received
official state recognition by the
Federal State of Brandenburg in
Germany.
Ÿ As a University of Applied
Sciences, GISMA is entitled to
award bachelors’ and masters’
degrees. This recognition grants
GISMA degree awarding powers
and the opportunity to launch its
Hochschule – a tertiary education
institution with a focus on teaching
practice-oriented skills in digital
transformation, business,
technology and agribusiness.
Ÿ A brand new state-of-the-art
campus opening in 2021 in
Potsdam, will be located near the
Innovation Centre of SAP, one of
the world's largest enterprise
software companies. Students will
benefit from the proximity with the
SAP Centre and Potsdam's network
of industry leaders.
Ÿ It also benefits from AMBA
accreditation, which was awarded
for the global MBA. The
prestigious AMBA accreditation
represents innovation and
excellence in education.
Ÿ GISMA Business School also has a
long history of working with
partner universities in Europe and
has been trusted to deliver partner
programmes accredited by AACSB,
AMBA, EQUIS, and EPAS.
Adapting to the Changing Times
The COVID-19 outbreak presented an
unprecedented challenge for the entire
global community, as it did for GISMA
Business School. Although the entire
team of the institute have achieved a
tremendous accomplishment here; they
had to change their entire business
model in just a few days. Within a very
short time, the classrooms were set up

virtually, training of teachers and
service staff, exams took place online,
and the entire university took place
virtually.
"Today we can say, the virus did not
slow us down! The virus didn't slow
our students down. We even took
advantage of the situation," added Prof
Stefan Stein.
In the real world, politics, businesses
struggle with how to manage their
operations under the conditions of the
pandemic. How to lead teams,
maintain engagement, and ensure
optimal work-life balance virtually?
How to run a business when all the
knowledge and teaching is in the air?
At GISMA, the students instead gained
exactly that piece of knowledge
through an additional learning
experience. Consultation hours via
video calls were arranged and carried
out much faster. Students learned how
to study across time zones and with
fellow classmates even across
continents. They all got accustomed to
what the real challenges were in
working together as a team, virtually,
and learned how to get across these
challenges. It was truly a global class
experience.
The institute even welcomed students
and employers as virtual avatars to
GISMA Business School Employers
Day. No conventional job fair at all,
again: bridging continents, time zones,
cultures, environments and roles in the
virtual space. Even though an event
like this in the 'normal world' thrives
on personal exchange and networking,
the entire team was very pleased to
come together digitally in the 'new
normal' and offer new opportunities to
ensure student employability.
The library is going to become the
smartphone. In light of this, GISMA
wants to give its students a whole new
library experience, similar to what
Spotify offers in terms of music for
scientific literature, which is then
directly linked to the online materials
for the lectures.
"As a result, covid has fuelled our
strategy shift. We offer places, virtual
and physical ones that enable the
fastest/best skill acquisition through
technology, setup, environments and
the right people. Whichever channel
our students want to use, we want to
equip them with future-proof skills to
make them highly sought-after
employees," concluded the stalwart
founder, Prof Dr Stefan Stein.
Digital key
competencies
are an integral
part of every
single GISMA
study program.
In addition, it
offers formats
in which to
train creativity,
entrepreneurial
spirit and
leadership
skills.
34 | Jan 2023

Talking about the class
experience, the interactive
attitude of the professors and
students made me learn a lot
more, not just about familiar
markets but also markets I have
little or no prior knowledge of. The
discussions were always
interesting and with a very
international class; one could see
and address a topic from
different perspectives. The
highlight of the course, for me,
was the entrepreneurial class,
where I had to work with my team
on solar projects in Nigeria. Every
day and in my job, I try to apply
these lessons to real-life
problems and bring solutions to
my customers. Overall, I would
say it was a worthy investment
decision for me, and I hope to
keep reaping the benefits of it as
much as I can
I am very thankful to GISMA
and especially to its Careers
Centre for paving the path
to my career. Although I
gained deep knowledge
from regular lectures, it was
the workshops organized by
the Careers Centre which
gave me full confidence and
prepared me for the
German job market. After
attending the résumé and
cover letter workshop, I
drafted a German résumé,
which was the key that
opened many doors within
the German jobs market.
Every month, we had
something useful organised
by our Careers Centre like
alumni talks, public
speaking, role play, mock
interviews and salary
negotiation workshops
- Rebecca
MBA Student
- Narendra
MBA Student
Alumni Testimonials

Education is the most powerful ornament which is
used to change oneself first and then the world. It
widens our experience and changes the way we
perceive things. Ensuring quality higher education is the
key to the freedom and commission of unborn generations.
After the COVID-19 pandemic hit the world in 2019, the
education sector has been one of the worst affected.
Schools, colleges, universities and other educational
institutions are floundering to meet their requirements and
finances. Business schools are facing new and complex
challenges. Although the epidemic has brought tremendous
trouble, it has also given new openings for us to borrow in
the business world. Institutions are readily expanding their
scope and reach and evolving the needs of their students,
staff, alumni and business stakeholders.
Trends
Impacting
Business
36 | Jan 2023

Modern
Education

Traditional vs Digitalized Business
The competition that the best business
schools faced in the past were
primarily among themselves. But in the
current environment, technology is the
rival. Quality skill training is
accessible to everyone because of
smartphones and the internet. Social
media and mobile applications offer a
wealth of content that may be used to
advance one's knowledge and abilities
in any profession one chooses. It
provides prompt and innovative
responses, similar to what we observe
following the lockdown. Who believed
high school and college students could
learn well and gain more knowledge by
using the internet? Unlike what is in
books, the content on the internet is not
restricted to a single topic or subject.
The barrier to entry is lowered by
alternative providers. Traditional
business schools are receiving
assistance from cutting-edge start-ups,
commercial companies, and non-profit
groups.
Importance of Climate Awareness
In 2022, promoting climate
consciousness was the global focus.
Many business schools are taking steps
to promote 'Green' funding and talk
about the troubling aspects of climate
change. Additionally, they are
changing to become more
environmentally friendly. Students
majoring in MBA and Business and
Financing are coming up with creative
solutions to save our mother nature
from the concrete jungle we have
made. It is highly astonishing in the
business world that a few Southeast
Asian nations, such as Singapore,
China, Indonesia, Vietnam, etc., take
the lead in presenting Green Building
structures to the world. Buildings in
these nations proudly demonstrate their
commitment to sustainability with
green balconies and roof gardens that
support fern and vine growth. Its
sustainability features include a
powerful cooling system, rainwater
collection, lightning sensors, high-
performance window glass, and hot
water pumps. With the help of new
businesses taking environmental
action, other nations may adopt this
trend.
The Big Emphasis on Business
Analytics, Hands-on Learning,
Entrepreneurship and Leadership
Skills
The four key topics of analytics, action
learning, entrepreneurship, and
leadership skills have been the four
most significant trends in business
schools during the previous ten years.
Because of the demand from
businesses, many of which employ
MBA graduates for their own firms, no
business school on earth will ever be
able to dismiss any of these
developments. It is reasonable to
anticipate that in the next ten years,
artificial intelligence and machine
learning may play a significant role in
society. All of this is an attempt by
business schools to satisfy their clients.
Business education institutions must
concentrate on introducing students to
new technology because doing so
opens up many opportunities for them
in the future. Additionally, students
want to ensure that they leave school
with excellent skills.
Rise of Double Degree or
Interdisciplinary curriculum
In 2023, the perimeter of university
campuses will no longer be adorned
with business educational institutions.
Instead, they are working with other
departments to integrate knowledge
from many different sectors, including
the humanities, the food industry,
political science, the arts, fashion, and
design. Students majoring in MBA and
Finance and Marketing study coding
and sustainable finance as business
institutions adopt an interdisciplinary
approach. They place more emphasis
on how business and the environment
interact to meet the two main demands
of the global community.
Up-skilling Business School Faculty
Teachers play a crucial role in every
educational setting. They also carry out
their own research and study while
serving as mentors, facilitators, and
counsellors. In order to better teach
new technologies to students, business
schools must make sure that their
faculty is kept up to date. They must
fulfil the challenging roles for the
hybrid models and technologies that
are essential to the establishments'
success. Business education has a huge
impact on workers and carries many
responsibilities.
It is fair to assume that professors in
business schools are charting
technological advancement to assist
students to stay on top of the newest
developments, including analytics,
artificial intelligence, machine
learning, augmented reality, robotics,
and the Internet of Things. For the
development of their students and the
expansion of enterprises in the future,
business education schools are also
putting an emphasis on soft skills,
including critical thinking, empathy,
assertiveness, and teamwork.
38 | Jan 2023

NORDAKADEMIE
Non-profit Corporation
University of Economics
Leveraging Business Study and
Economics for Development
40 | Jan 2023

“
In 10 years'
time, the
NORDAKADEMIE
will be playing
to its strengths
on the
education
market, which
will have
become much
more
professional by
then.
ife is nothing but the art of
Lbalancing important things on
a multi-edged sword. As the
popular quote goes, 'Reality is different
than fiction,' it is certainly true in this
case. The tilting balance of important
things resides the genesis of the
business, on which the entire world
around systematically revolves.
With the genesis of the business
decades past, the idea of the economy
was brought into the world by the
forerunners of thought leadership.
Today, economics and businesses run
the world, but economics and
businesses are much more than that.
"Economics is too important to leave it
to the economists."
Quoting Steve Keen and his strong
foreshadowing perception of
economics, it was found necessary for
the change drivers to introduce
multiple collaborations with business,
economics, humanity, and learning.
Many proficient thinkers realised the
need for a unique collaborative
structure when the world was on the
verge of entering an era of significant
changes in 1981. In his venture to set
up a dual course study in 'Industrial
Engineering and Management' at the
Schleswig-Holstein University of
Cooperative Education, Dr Georg
Plate deliberately laid the foundation
of NORDAKADEMIE
Gemeinnützige Aktiengesellschaft
Hochschule der Wirtschaft
(NORDAKADEMIE Non-profit
Corporation University of Economics).
In its quest to find 'The Most
Prominent Business School in
Germany, 2022,' The Knowledge
Review magazine, came across
NORDAKADEMIE, a prominent

business school that is making
economics and business studies future-
ready for the world.
Being a business school, which has
always been a step ahead of its current
age since its inception, there is always
an imitative outlook on the future on
how the world will look from behind
the stage. While talking about the
school's uniqueness and its educational
pedagogies for instilling the art of
balancing the ideologies, ethics and
rules of economics and business in the
students, Prof Dr Stefan Wiedmann,
President and Diploma Industrial
Engineer, Christoph Fülscher,
Chancellor of the university, shares
the story of underpinned success of one
of the most prominent business schools
st
of 21 -century.
Laying the Foundation Stone of
NORDAKADEMIE
The inception story of
NORDAKADEMIE can date back to
May 1981, when Dr Georg Plate
initiated a project manager at the
Schleswig-Holstewig University of
Cooperative Education on 1 April
1981. In his practical attempt to set a
dual course study program in
'Industrial Engineering and
Management', he started with a simple
mailing campaign.
Amongst the 500 mails sent, it resulted
in one positive response from
Drägerwerk AG, which agreed to
provide two study places for a
completely new-yet visionary, training
model. In the attempt to keep the
project alive, Dr Georg Plate also
found the need to bring more
investment from major industry
players.
Showcasing the importance of Dr
Georg Plate in the inception of the
university and in setting up the
“
We see
ourselves as an
innovative, alert,
creative, education-
centred and
entrepreneurial
university. We ﬁll this
self-image with life
every day - for the
beneﬁt of our
students!
President
Prof Dr Stefan
Wiedmann
Chancellor
Christoph
Fülscher
42 | Jan 2023

university into what it is today, the
current president of the university, Dr
Stefan Wiedmann, says, "In addition to
Dräger, companies such as Airbus,
Fette, Hatlapa, Körber, Mobil Oil,
Philips, Rotring and Telefunken were
involved from the beginning and
played a decisive role in the founding
of the later NORDAKADEMIE."
"It was probably, in particular, the
success of the dual study programme
which tipped the scales in favour of
founding a university supported by
business and industry: all those
involved - employers and graduates
alike - were satisfied with the quality of
the three and a half year course at the
vocational academy. The only criticism
was the lack of a formal,
internationally recognised university
degree," the Chancellor of the
university, Christoph Fülscher, added.
Journey from Academy to University
of Applied Sciences
Moving swiftly in the field of
education, all founding members of
NORDAKADEMIE felt the need to
establish the Academy as a private
University of Applied Sciences. They
were being supported by
NORDMETALL, an employers
association of the metal and electrical
industry, by promoting this idea to
their member companies. Thereby
more businesses joined and a unique
business model was created: a
University of Applied Sciences 100
percent owned by private companies in
Germany.
th
On 25 February 1992, 20 companies
showed enthusiasm and agreed to the
set-up of a non-profit limited company,
which was to be the sponsor of the
future university.
With the support of member companies
and a promising future for business
academics, the state recognition of
NORDAKADEMIE came on 22
October 1992 as a university of applied
sciences with dual courses of study.

44 | Jan 2023

“
Our young
Bachelor students
can all spend a
(voluntary)
semester abroad in
th
the 5 semester at
one of our more
than 40 partner
universities around
the world. In Europe,
participation in the
ERASMUS+ funding
programme is also
possible.

“
We cannot solve a
problem by using the same
kind of thinking we used,
when we created them.
- Albert Einstein
46 | Jan 2023

Dr Stefan Wiedmann highlighted when
the lectures began and how they have
shaped themselves today: "Lectures
began at the beginning of January
1993, and the university was officially
opened on 19 February 1993. Today,
around 1,500 Bachelor students live
and learn on the NORDAKADEMIE
Campus in Elmshon."
"In 2013 NORDAKADEMIE opened
the Graduate School in Hamburg,
where part-time Master's degrees can
be obtained. Today, around 1,000
young professionals are studying for
their Master's degree there," he further
added.
A University for Business and
Industry
NORDAKADEMIE, as a university,
was born from business and industry.
While most universities focus on
grooming economists in a business
environment, NORDAKADEMIE
always keeps an eye on the
occupational profiles that are relevant
to the current business world.
The mission—100 percent YOUR
FUTURE. Bachelor. Master.
Career—of the university is developed
on that ideation to train young,
ambitious people in the business,
technical and software development
qualifications and understanding their
needs, whether that be the dual
Bachelor's course or the part-time
Masters' Program.
"We see ourselves as an innovative,
alert, creative, education-centred and
entrepreneurial university. We fill this
self-image with life every day - for the
benefit of our students!" emphasizes
Prof Dr Stefan Wiedmann, President of
NORDAKADEMIE.
Passing on the Torch
After 25 years the founding team
passed on the torch to a tandem that
now leads the University, Prof Dr
Stefan Wiedmann as president and
Diploma Industrial Engineer Christoph
Fülscher as Chancellor. Both are also
the Managing Directors of the
charitable public company. With new
work processes and fresh study
programmes, they are setting the
course for the next successful 30 years.
The Dual Study Program for High
Career Opportunities
The inception of NORDAKADEMIE
was based on the ideation of studying
two integral programs, such as
business and technology at the same
time, becoming the industrial
engineering degree. The particular high
career opportunities relevant in this
current world are based on the special
business models that many industries
have developed.
Talking about the intuitive academic
programs started by the university, the
university management says, "The
particularly high career opportunities
for NORDAKADEMIE students are
based on the special business model:
the dual study programme in the
Bachelor's degree and the part-time
study programme in the Master's
degree. The students are thus
connected to practice, to the
companies, from the very beginning. In
addition, it is a hiring requirement for
every professor at NORDAKADEMIE
that they come from practice, from
industry, and therefore know what the
young professionals need to become
successful in professional practice."
Futuristic Global Exposure
Being a university that has always been
a step ahead of the current trends in the
industry and business world,
NORDAKADEMIE finds it necessary
to provide its students with a holistic
global exposure.
Emphasising on how the university
achieves that, Christoph Fülscher,
Chancellor of the university, says,
"Our young Bachelor students can all
spend a (voluntary) semester abroad in
th
the 5 semester at one of our more than
40 partner universities around the
world. In Europe, participation in the
ERASMUS+ funding programme is
also possible."
Further continuing in depth, Christoph
Fülscher further adds, "A component of
the Master's programme is a so-called
'Master's Project' in which
internationally positioned companies
to give our students a concrete
question as a 3-month project."
Through this unique Master's program
for students studying for MBA,
international lectures in necessary
languages such as English, Spanish,
and French are introduced at the
university.
Delivering Complete Learning
Experience
The uniqueness of NORDAKADEMIE
is in the courses that it offers. While
most universities focus is one trait of
business, the academic curriculum of
both the 5 Bachelor's and 6 Master's
Degree are based curated for attaining
maximum engagement of students with
learning.
"Bachelor's students also have the
opportunity to choose a specialisation
th th
from the 5 of 7 semesters. In
addition, we offer an extensive Studium
Generale, i.e., a large selection of
seminars with which students can
educate themselves beyond their own
horizons. Here are a few examples:
Leadership Training, Conflict
Management, Public Relations,
Politics and Economics, Online
Marketing, and many more.
Analogously, Master's students can

“
The dual study programme enables me to learn
and understand processes and structures. I can put my theoretical knowledge
directly into practice, for example, in computer science. On top of that, I already
earn my own money during the dual study programme, which is really a great
combination! I would describe my dual studies at EDEKA as varied, goal-oriented
and innovative.
- Jeremy, student, Business Information Systems
48 | Jan 2023

From my point of view, the dual study
programme at NORDAKADEMIE is the ideal way for committed students
in the ﬁeld of economics. The theoretical knowledge learned in blocks can
be excellently combined with practical experience. This concept ensures a
demanding but high-quality education and prepares students for
professional life in a goal-oriented manner.
“
During my dual studies, I particularly enjoyed the insights
into di erent departments of my employer and the associated freedom to
develop and to keep di erent paths open for myself. Even after a short time, I was
able to combine my knowledge from theory and practice, contribute it and even
help others with my own experiences - that is something very special for me.
“
- Nils, student, Business Administration degree programme
- Laura, Business Administration degree programme
“
- Prof Dr David Scheffer, Lecturer in Business Psychology
The fascinating ﬁelds of HR management and psychology are
two sides of the same coin. One deals with the business and extrinsic motivational
aspects, the other with the intrinsic motivational factors that drive people at an
individual and organisational level. During their studies, the students will have the
opportunity to explore both disciplines in depth, apply what they learn to real-life
situations and add real value to their future career.

take various certificate courses, for
example, Business Analytics or
Software Development," Chancellor
Christoph Fülscher added.
Adapting to the Means of Modern
Education
Modern education has been spreading
its wings in multiple ever since the
introduction of technology in
education. Explaining how the
university is benefitting from it, Prof
Dr Stefan Wiedmann says, "Basically,
we are a university that believes in the
benefits of face-to-face teaching.
Nevertheless, we have naturally
opened up to modern teaching
methods: Online, hybrid, and similar.
In addition, more and more
edutainment modules are being
incorporated into teaching."
Envisioning the Future of
NORDAKADEMIE
"A university is a place of encounter
where lifelong 'nodes' are tied for the
personal network. This strong network
is just as important for the students as
the academic degree; this is much
easier to realise in presence. In
addition, I am looking forward to the
th
anniversary events for the 30
anniversary of the NORDAKADEMIE,
and I am especially happy when we
achieve our goals together."
"In 10 years' time, the
NORDAKADEMIE will be playing to
its strengths on the education market,
which will have become much more
professional by then. For example, the
combination of the main content areas
of business informatics, industrial
engineering, business administration
and psychology will be more in
demand than ever. The dovetailing of
these fields is the topic of digital
transformation, i.e. what is currently
driving all companies in their change
processes. Becoming a strategic
partner for people and companies here
is a great opportunity. The strong
partner network already offers an
excellent basis for this. In addition, I
envisage great flexibility on the part of
the university in order to adapt to the
time and space constraints of the
(international) students. At the same
time, events will also be didactically
developed to meet the changing
requirements."
"But all this can be copied by
competitors. What cannot be copied,
however, will be the innovative, alert,
creative, educational culture of an
entrepreneurial university," envisions
Christoph Fülscher.
“
Economics is too
important to leave it
to the economists.
50 | Jan 2023

The Most Prominent Business Schools of Germany, 2023.pdf

The Most Prominent Business Schools of Germany, 2023.pdf

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