MathematiciansMathematicians in in thethe Business World Business World

Some facts and personal Some facts and personal experiencesexperiences

Michael NöckerMichael Nöcker

AgendaAgenda

• Non vitae sed scholae discimus.Non vitae sed scholae discimus.

• Where you can find mathematicians Where you can find mathematicians in the Business World.in the Business World.

• Is there any mathematics in the daily Is there any mathematics in the daily work?work?

• Why mathematics is a good Why mathematics is a good foundation for the Business World.foundation for the Business World.

Non vitae sed scholae Non vitae sed scholae discimusdiscimus

……and when and when he leaves he leaves university!”university!”

When he When he starts starts university university ……

““A mathematician has to forget his A mathematician has to forget his knowledge twice in his lifetime:knowledge twice in his lifetime:

Is mathematics needed for Is mathematics needed for business?business?• Mathematics is often said to be a Mathematics is often said to be a

core competence. It is therefore part core competence. It is therefore part of the education at university for of the education at university for most business studies.most business studies.

• It is one of the so-called MINT* It is one of the so-called MINT* disciplines which are important for disciplines which are important for Germany and other industrialized Germany and other industrialized countries. countries.

* MINT = Mathematics, Engineering, Nature Science, Technology

Who is searching for Who is searching for mathematicians?mathematicians?

23%

26%20%4%

4%10%

13%

Education (incl.University)

Finance and Insurance

Research andDevelopment

IT

Consulting

Time-work

Others

Source: Statistisches Bundesamt, 2003

A first observationA first observation• Mathematics seems to be important Mathematics seems to be important

for the Business World.for the Business World.

• Mathematicians are needed in a Mathematicians are needed in a various number of Business Areas.various number of Business Areas.

Does it mean that a mathematician Does it mean that a mathematician does mathematics when he works in does mathematics when he works in

the Business World?the Business World?

Is there any mathematics in Is there any mathematics in the daily work?the daily work?

• For some business areas the answer For some business areas the answer is obviously yes:is obviously yes:– Education: teaching mathematics and Education: teaching mathematics and

doing mathematical researchdoing mathematical research– Finance and Insurance: experts Finance and Insurance: experts

calculating risks and expectationscalculating risks and expectations

Is there any mathematics in Is there any mathematics in the daily work?the daily work?

• But most of the mathematicians in the But most of the mathematicians in the Business World I have met say “No”.Business World I have met say “No”.

• These guys areThese guys are– IT specialists defining processes and IT specialists defining processes and

developing programs,developing programs,– working as project managers,working as project managers,– leading and managing teams.leading and managing teams.

• Their daily work is about accounting, Their daily work is about accounting, controlling, logistics, purchasing etc.controlling, logistics, purchasing etc.

A second observationA second observation• Some business areas need specialists Some business areas need specialists

for specific mathematical problems.for specific mathematical problems.

• But a lot of mathematicians are not But a lot of mathematicians are not working on specific mathematical working on specific mathematical problems in their daily work.problems in their daily work.

What are the reasons that What are the reasons that mathematicians are nevertheless mathematicians are nevertheless

well-qualified for the Business well-qualified for the Business World?World?

Qualifications – what is Qualifications – what is necessary for the Business necessary for the Business World? World?

(but) soft skills and competencies like(but) soft skills and competencies like

• analytical thinkinganalytical thinking

• efficient and self-controlled workefficient and self-controlled work

• talent for negotiationstalent for negotiations

• knowledge of foreign languages knowledge of foreign languages

• ability to communicate and presentability to communicate and present

““Math skills not (directly) relevant!”Math skills not (directly) relevant!”

A mathematician’s way to A mathematician’s way to workwork

• analyze problems systematicallyanalyze problems systematically

• separate important from unimportant separate important from unimportant thingsthings

• understand the basics behind a understand the basics behind a problemproblem

• solve difficult problems even if this solve difficult problems even if this needs a long period of timeneeds a long period of time

A last observationA last observation• Specific mathematical knowledge is Specific mathematical knowledge is

often not the competence for the often not the competence for the Business World.Business World.

• But the skills necessary to do But the skills necessary to do mathematics are a very good mathematics are a very good foundation for the Business World.foundation for the Business World.

A mathematician is well-prepared for A mathematician is well-prepared for the Business World. But the Business World. But

mathematics may be not part of his mathematics may be not part of his daily work.daily work.