The "Schmalenbach-Gesellschaft für Betriebswirtschaft e.V." in its present structure was founded in 1978 with the amalgamation of two long-standing business economics societies - the "Schmalenbach Society for the Advancement of Research in Business Economics and Business Practice", Cologne, and the "German Society for Business Economics", Berlin. The activities of both societies date back to the beginning of the twentieth century, notably to the efforts of Prof. Eugen Schmalenbach, one of the most distinguished German business economists. His main goal was to develop business economics into an applied science by creating a close link between economic theory and practice. The SG is the oldest association concerned with business administration in Germany. It is a registered institution and as such non-profit oriented and moreover politically independent. The SG counts both business economists and executive personnel among its members. They have joined the society in order to promote Schmalenbach's idea of bridging the gap between research institutions and enterprises.The dialogue between science and business is at the centre of the society's work. Its goal is to provide businessmen with facts and information on the latest scientific findings as promptly as possible. Business economists in turn are encouraged to examine urgent practical problems which require scientific investigation.