When it comes to taking economic advantage of innovative technologies, Germany is lagging behind in international comparisons. In spite of the fact that many promising technological concepts stem from the country well-known for its engineers, many inventors have been unable to come even remotely close to the success of e.g. the US-American corporations from “Silicon Valley”. This circumstance has already led to a handicap for the German IT industry.
Google, Microsoft, Apple, Intel and many more corporations currently dominate their respective business fields and if there shall ever be a comparable German corporation, the German industry needs to adopt the successful business practices of those firms.
Entrepreneurship research suggests that especially the process of financing is more difficult in Germany, as private “Business angels” and venture capital funds are not as common in the German financial culture as they are in the Anglosphere. Company founders also oftentimes do not have applicable knowledge of management, accounting and organizational strategies, which leads to ill-advised decisions.Last but not least, a phenomenon referred to as “German Angst” is seen as an obstacle. This concept implies that the common German attitude perceives failure as something that should be avoided at all costs. The possibility of failure though is an inherent part of the risks of founding a company.
This talk will focus on what potential business founders should know beforehand about financial structures, management processes and their own mind-set.
About the Presenter
Johannes Goldhan, second-year student, Business sciences
Johannes Goldhan, a student of business sciences currently in his fourth term, takes great interest in accounting, financing, and managerial processes.
He specializes in the field of “International Financial Reporting Standards” (IFRS) as well as in organizational learning processes. He believes that these subjects are more important than ever, as globalization pushes corporations of all fields to new ways of thinking.
THEORY MEETS PRACTICE 