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WHU Glossary

Key terms and words you'll find on our website. Have you seen a word or phrase and are unsure what it means? You'll find definitions related to business, management, and much more.
Navigate important concepts and explore the terms below.
A-D E-H I-L M-R S-Z
A

  • Academic Degree

    Title awarded upon completion of a study program, e.g., Bachelor, Master, or Doctor.

  • Accreditation

    Official recognition of study programs by state or private institutions to ensure quality.

  • Admission Restriction

    Limitation of study places for certain programs.

  • Alumni

    Former students of an educational institution, often organized in networks.

  • Apprenticeship Abroad

    An internship completed abroad providing international work experience and intercultural skills.
B

  • Bachelor of Science (B.Sc.)

    Academic degree awarded after studies in science, technology, or business fields.

  • Behavioral Economics

    A field studying economic decisions from a psychological perspective.

  • Business Administration

    The science of planning, managing, and controlling businesses.

  • Business Administration Master Salary

    Average income of graduates with a master’s in business administration, depending on industry, position, and experience.

  • Business Administration Salary

    The average income of business administration graduates, varying by degree, industry, and experience.

  • Business Analytics

    Data-driven analysis of business processes to support strategic and operational decisions.

  • Business Consulting (Management Consulting)

    Advising companies in various business areas to improve performance.

  • Business Ethics

    Addressing ethical questions in business practices.

  • Business Psychology

    A discipline examining economic issues from a psychological perspective.
C

  • Case Study

    Practice-oriented teaching method analyzing real or fictional business situations and developing solutions.

  • Certificate Program

    Short-term training ending with a certificate, not a full academic degree.

  • Consulting

    Advising companies in various business areas to improve performance.

  • Corporate Finance

    The finance sector of a company focusing on investments, capital structure, and funding.

  • Curriculum

    The entirety of content, courses, and examinations within a study program.
D

  • Data Analytics

    Analysis of large data sets to gain insights and optimize business processes.

  • Dissertation

    Scientific work written during a doctoral program presenting new research findings.

  • Doctoral Candidate

    A person pursuing a doctoral degree.

  • Doctorate

    The highest academic degree awarded after writing a dissertation and passing an oral examination.

  • Dual Master’s Degree

    A master’s program combining academic education with practical work experience in a company.
E

  • Economics

    The science of macroeconomic relationships such as supply, demand, growth, and inflation.

  • EQUIS

    An internationally recognized accreditation seal for business schools certifying high quality standards.

  • Entrepreneurship

    Entrepreneurial thinking and action for founding and managing new business ideas or start-ups.
F

  • Financial Management

    Planning, managing, and controlling a company’s financial resources.

  • Full-time Study

    Study pursued as the primary occupation without parallel employment.
G
I

  • Internship

    A temporary practical activity, usually completed during studies or training.
M

  • MBA Part-time

    An MBA program completed alongside professional employment, offering practical management skills.

  • MBA Program

    Postgraduate management program teaching leadership and business knowledge.

  • MBA Requirements

    Admission requirements for an MBA, such as work experience, a first degree, and possibly the GMAT.

  • Master of Arts (M.A.)

    Academic degree for humanities, social sciences, or cultural studies programs.

  • Master of Science (M.Sc.)

    Academic degree for programs focused on science, engineering, or business.

  • Minor Subject

    An additional subject studied alongside the main field to acquire interdisciplinary skills.
N

  • Networking

    Building and maintaining professional contacts to advance careers and foster collaboration.

  • Numerus Clausus (NC)

    Study admission restriction based on grades or specific criteria.
O

  • Onboarding

    The process of integrating new employees into a company or organization.

  • Online Marketing

    Marketing strategy using digital channels to engage and interact with customers.

  • Organizational Development

    Improving structures and processes within companies to increase efficiency.

  • Outplacement

    Support for employees leaving a company to help them reorient and find new employment.
P

  • Part-time Master’s Degree

    A master’s program completed alongside professional employment, offering flexible learning formats.

  • Publication Requirement

    Obligation to make scientific works publicly accessible, e.g., dissertations.
R

  • Resilience

    The ability to cope with and recover from challenges and crises.

  • Rhetoric

    The art of speech and persuasion, especially important in presentations and negotiations.

  • Risk Management

    Identification, assessment, and control of risks in a company.
S

  • Scholarship

    Financial support for students, often based on merit or need.

  • Semester Abroad

    A study semester completed at a foreign university to gain international experience and language skills.

  • Start-up

    A young, innovative company often with a technology-oriented business model.

  • Supply Chain Management

    Coordinating all activities along the supply chain, from raw materials to the end customer.

  • Sustainability Management

    A business approach integrating ecological and social sustainability into company operations.
T

  • Technology Management

    Strategic use and development of technologies to improve business processes.

  • Thesis

    Scientific final paper written as part of a bachelor’s or master’s program.

  • Time Management

    Techniques for efficient use and planning of one’s time, especially important in studies and work.

  • TOEFL (Test of English as a Foreign Language)

    Standardized language test assessing English proficiency.

  • Trainee

    A recent graduate participating in a structured program across various company departments.
U

  • University

    An institution of higher education that awards academic degrees and conducts research.
V

  • Voluntary Internship/Editorial Traineeship

    Training program, especially common in media and cultural sectors.
W

  • Working Student

    A student working part-time in a company to gain practical experience.
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