Mainz, Germany

Young Professional Master of Business Administration

Table of contents

Young Professional Master of Business Administration at Mainz University

Language: English Studies in English
Subject area: economy and administration
University website: www.uni-mainz.de

Definitions and quotes

Business
Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
Business Administration
Business administration is management of a business. It includes all aspects of overseeing and supervising business operations and related field which include Accounting, Finance and Marketing.
Professional
A professional is a member of a profession or any person who earns their living from a specified professional activity. The term also describes the standards of education and training that prepare members of the profession with the particular knowledge and skills necessary to perform their specific role within that profession. In addition, most professionals are subject to strict codes of conduct, enshrining rigorous ethical and moral obligations. Professional standards of practice and ethics for a particular field are typically agreed upon and maintained through widely recognized professional associations, such as the IEEE. Some definitions of "professional" limit this term to those professions that serve some important aspect of public interest and the general good of society.
Professional
Perhaps all professions ... are filled with hostility toward the individual, saturated with hatred by those who find themselves mute and sullen in an insipid duty.
Rainer Maria Rilke, Letters to a Young Poet, 6
Business
Despatch is the soul of business.
Philip Dormer Stanhope, 4th Earl of Chesterfield (1694-1773). Letter, 5 February 1750.
Business Administration
We usually think of an individual doing administrative work not as an administrator, but as a businessman, an Army officer, or a civil servant. More specifically, we think of him, if he is a businessman, as a merchant, a production man, a sales manager, or a financial expert; while the Army officer may be a company commander, a staff officer, or a tactician; and the civil servant, a diplomat, a postmaster, or a revenue collector. It is true that all of these jobs involve administration: yet each of them is intimately bound up with a more or less specialized subject matter and it does not follow that a good production man win make a good diplomat or company commander.
Dan Throop Smith: "Education for Administration." Harvard Business Review, Spring 1945, vol. '3, p. 360
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