The Muenster School of Business and Economics which offers management education has four divisions in Business Administration, Economics, Information Systems and Economic Education. The Business Administration division is further sub-divided into the centers for Accounting, Finance, Marketing and General Management. The school offers Bachelor, Masteras, Executive and Doctoral programs in each of the above functions. There is also a separate International Relations Centre which looks after the coordination of exchange programs with more than 70 partners worldwide including the Copenhagen Business School-Denmark, Virginia Polytechnic University-USA and the University of Melbourne-Australia.
Dr. Krafft also talked about his latest research based on aCustomers as a source of Innovationa. He highlighted out the increasing trends among companies like Texas Instruments, Microsoft, Volvo, Amazon and Google to leverage their customers for product innovation. This has not only resulted in reduced costs for new product development but has also ensured products which are more aligned with the societal needs.