Master of Business Administration – Industry 4.0

Big industry, competition and generally the individualistic organization of production have become a fetter which it must and will shatter.

The administrative function has many duties. It has to foresee and make preparations to meet the financial, commercial, and technical conditions under which the concern must be started and run. It deals with the organization, selection, and management of the staff. It is the means by which the various parts of the undertaking communicate with the outside world, etc. Although this list is incomplete, it gives us an idea of the importance of the administrative function. The sole fact that it is in charge of the staff makes it in most cases the predominant function, for we all know that, even if a firm has perfect machinery and manufacturing processes, it is doomed to failure if it is run by an inefficient staff.

O brave youth, how good for thee it were couldst thou be made to understand how infinitely precious are thy school years—years when thou hast leisure to grow, when new worlds break in upon thee, and thou fashionest thy being in the light of the ideals of truth and goodness and beauty! If now thou dost not fit thyself to become free and whole, thou shalt, when the doors of this fair mother-house of the mind, close behind thee, be driven into ways that lead to bondage, be compelled to do that which cripples and dwarfs; for the work whereby men gain a livelihood involves mental and moral mutilation, unless it be done in the spirit of religion and culture. Ah! well for thee, canst thou learn while yet there is time that it will profit thee nothing to become the possessor of millions, if the price thou payest is thy manhood.