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Business Administration (MBA)
What is an MBA Degree?
The MBA program was developed originally in the United States and soon afterwards was introduced in the U.K. It is currently expanding rapidly in continental Europe and the rest of the world. With the growing internationalization of the world economy, an increasing number of companies and organisations require top managers with an MBA Degree. The term ‘Business Administration’ covers not only business administration per se, but also a variety of subjects, all of which are of vital importance to managers in business and the public sector.Why an MBA?
The Cyprus Institute of Marketing MBA program is action-oriented and is designed to accelerate the managerial and leadership development process. With an MBA your knowledge of management skills and operating techniques will be developed. Management in both the private and public sectors requires the highest level of relevant training as well as vision, analytical skills and the ability to implement far-reaching decisions. The MBA program stimulates students to look beyond the narrow boundaries and horizons for higher-level career planning.
The MBA is designed for practising managers with previous relevant education, training and work experience who are required to make a major contribution to the policy of their organisations. The particular aim of the program is to enable managers to operate at a strategic level and to manage their organisations effectively in the complex and uncertain business environment of today. Close links have been established with industry, commerce and the public sector all of whom have contributed to the development and design of the program.
Aims:
- Enable students to gain a broad understanding of the Managerial techniques regarding decision-making;
- Provide a global view of organisations and their environment so as to enable students to face the challenges of the 21st Century;
- Underline the importance and significance of the increased managerial effectiveness and competence, and understand the various strategic approaches;
- Enrich students’ development and managerial prospects by encouraging learning through their own past experience and their current and future needs and the needs of their market and society.
At the end of the program students will be able to:
- Comprehend and appreciate the concepts and theories of Management and see to what extent these theories are applicable in the real and changing world;
- Understand and evaluate the objectives and importance of formulating strategies in a local and global context;
- Be able to diagnose and analyse intricate situations and deal with unforeseen exogenous factors affecting the internal environment of their organisation;
- Deal effectively with the human deficiencies and be able to tackle human friction and lead their teams through tough decisions and times;
- Face the challenges of career requirements more confidently and increase their advancement prospects for acquiring a senior managerial position;
SUBJECTS TAUGHT
The program is made up of 18 subjects and students could choose only 6.
The Institute may grant exemptions on a subject-to-subject basis to holders of the CIM Post Graduate Diploma in Corporate Management & Strategic Planning (POSTPLAN) or of a B.Sc Degree from this Institution or other Recognised Institution. Maximum number of exemptions granted are 6.
1. Accounting & Financial Management
2. Operations Management
3. Business Statistics
4. Marketing Management
5. Business Economics
6. Organisational Behaviour
7. Business Environment
8. Employee Relations
9. Financial Markets
10. Business Policy & Strategy
11. Marketing Research
12. European Union Law
13. The European Business Environment
14. Organizational Information Resources
15. Financial Management
16. Advertising & Public Relations
17. Operations Management & Operational Research
18. International Marketing Strategies
DURATION OF STUDY
Full-Time: 12 months
Part-Time: 24 months
Classes commence October and January.
The academic year for October start runs from October to May when final exams are conducted. From June until October the Thesis must be prepared and submitted.
The academic year for January start runs from January to August when final exams are conducted in September. The Thesis must be submitted by February of the following year.
WEEKLY HOURS TAUGHT
The number of weekly contact hours for full-time study is 12 teaching periods a week.
The total number of courses taught in one year are 6.
The total number of courses taught in one year are 6.
For part-time students the number of weekly teaching periods is 6.
MBA ENTRY REQUIREMENTS
Entry requirements are flexible and are based on a candidate’s proven academic ability, motivation, experience as a manager or business executive and an assessment of the benefits that he or she is likely to derive from the program. The usual minimum academic qualifications required are a Second Class Honours Degree from a British or equivalent from a U.S. accredited University, or an approved UK professional qualification in such subjects as Accounting, Marketing, Insurance, Shipping etc. Students with a Bachelors Degree will be admitted into the Institute’s POSTPLAN (Post Graduate Diploma in Corporate Management & Strategic Planning). Upon successful completion of the POST PLAN students will proceed for a further year and, upon successful completion of this year, they will be awarded an MBA.
THE THESIS
The 10.000 words thesis is a major part of the MBA and a student not submitting an up-to-standard Thesis WILL NOT BE AWARDED the MBA. The Thesis must be on a Topic agreed with the student’s Tutor and should have a RESEARCH bias. The project is usually started in June after the exams are over and must be submitted the latest by the first week of September of the same year. In the case of students starting their MBA in January they must begin their Thesis after August and submit it the latest by February of next year.
However, students are encouraged to begin thinking about their research project long before June.This is why in early January students are allocated a Tutor to assist them with the preparation and guidance of their Thesis. The Institute encourages students to undertake a study which is of a current concern to their own organisation/firm. The Thesis will be marked by an internal examiner and moderated by an external examiner. The student may be required to support his/her work to an examining panel. The pass mark is 50% and the student’s performance will be indicated on the Transcript.
MBA FEES FOR EU STUDENTS
Refund of fees for Cash Payment
Before the commencement of classes 70% of fees can be refunded within two weeks after the day of registration. However, only 50% of fees can be refunded if the cancellation of registration is effected fifteen days or less from the commencement of the program of study. After the commencement of classes NO FEES CAN BE REFUNDEDWHETHER PAYMENT HAS BEEN EFFECTED IN CASH (THE WHOLE AMOUNT) OR IN INSTALMENTS.
IMPORTANT NOTE: IF THE STUDENT FOR ANY REASON LEAVES THE INSTITUTE BEFORE THE COMPLETION OF THE PROGRAM HE/SHE WILL HAVE TO PAY THE BALANCE OF OUTSTANDING FEES.
IMPORTANT NOTE: IF THE STUDENT FOR ANY REASON LEAVES THE INSTITUTE BEFORE THE COMPLETION OF THE PROGRAM HE/SHE WILL HAVE TO PAY THE BALANCE OF OUTSTANDING FEES.
FEES FOR OVERSEAS STUDENTS
Fees include the cost of issuing a VISA and Deposit with Immigration.
FEES MUST BE PAID IN FULL PRIOR TO THE ARRIVAL OF THE STUDENT IN CYPRUS.
Fees Refund
Fees Refund
There is a 100% refund if the VISA has NOT been secured. After the arrival of the student in Cyprus OR issuing of the VISA, whether the student comes or does not come to Cyprus, NO REFUND CAN BE ALLOWED.
Outline of the aims of the MBA courses
ACCOUNTING AND FINANCIAL MANAGEMENT
Accounting and Finance are concerned with (1) the processing of information concerning the financial aspects of operating an enterprise; and (2) the use of financial information to make decisions. This is a course which is intended to serve as an introduction to Accounting and Finance courses and also as a stand-alone course. It will give the students sufficient understanding of Accounting and Finance so as to enable them to communicate fully with specialists and appreciate and contribute to the financial decision making process.
Assessment
There will be one assessed essay which will account for 40% of the final mark. The remaining 60% of the mark will be made up of an unseen examination.
MANAGEMENT OF OPERATIONS
The management of operations is one of the four functions of a business. It is a key factor in the attainment of service in the private or public sector. The course uses a lifecycle approach, from the design of the product or service, through the installation of facilities and the planning and control of their operation, to run-down and closure. The strategic aspects of operations management are emphasised in the following order:
- To build on the basic principles outlined in operations Management and Operational Research.
- To develop an appreciation of the approaches and techniques now available for the effective and efficient running of operations.
- To study the strategic importance of operations management in organisations.
Assessment
One assignment or report on an agreed topic: 40%
Unseen examination on a case study distributed prior to exam: 60%
BUSINESS STATISTICS
Statistics is concerned with the collective analysis and presentation of data as the basis for inference and decision. The aims of the course are:
- To develop skills in collection, analysis and presentation of data;
- To develop the capability to use the common statistical methods of analysis and interference and to appreciate their conceptual basis.
Assessment
There will be a mid-semester test 40% and an end-of-semester unseen examination 60%.
MARKETING MANAGEMENT
Marketing is one of the most important business functions. It identifies and measures the magnitude of customers’ wants and needs and determines how a business organisation should develop its programs to serve these markets in terms of products and services, communication, distribution, price, strategies and policies.
The course aims to provide:
- Managerial orientation of the subject, i.e. the major decisions facing marketing executives and top management;
- Analytical approach by investigating present and recurrent marketing problems;
- A comprehensive and balanced coverage of strategic, tactical, and administrative marketing applied to a wide range of phenomena that are relevant to consumer as well as industrial products in small and large companies.
BUSINESS ECONOMICS
Economics is concerned generally with that part of human behaviour which relates to the production, exchange, and use of goods and services and their prices. The particular concerns of Business Economics are the economic factors affecting the decisions of business enterprises with respect to its organisation, production, its use of particular goods and services and the marketing of its output. The course, thus, provides a theoretical framework which links together some of the other elements in the MBA program.
The aims are:
- To provide students with an understanding of the economic analysis relevant to the decision-making of business enterprises;
- To provide students with an understanding of the microeconomic environment in which firms operate (Macroeconomic environment is covered in the course Business Environment).
Assessment
One assignment accounting for 40% of the final mark. The remaining 60% will be accounted by an examination at the end of the course.
ORGANIZATIONAL BEHAVIOUR
This course in Organizational Behaviour focuses on the interaction of people in organisations and the consequences of their behaviour for organisational effectiveness.
Organisational structures, technologies and objectives provide the appropriate framework within the behaviour of individuals, groups, networks hierarchies and organisations as a whole. This course aims to provide students with an understanding of a systematic set of behavioural science concepts for analysing human behaviour in organisations. Furthermore, it provides the opportunity for relating these theoretical ideas to real organisational problems through practical experience. The course aims to increase the ability to influence and manage others effectively in organisational contexts.
The major theories and research findings in this area derive from the academic disciplines of psychology, sociology and anthropology and students will be required to familiarise themselves as directed. It is expected that the knowledge gained will be used in case-study analyses. In this way, students are expected to improve their ability to perceive the determinants of organizational behaviour and to form diagnostic conclusions as a basis for managerial action.
Assessment
There will be a course assessment 40% of the marks. There will be also an unseen written examination 60% of the marks.
BUSINESS ENVIRONMENT
The course investigates the macroeconomic environment in which all business has to operate. Without some understanding of this environment, businesses are to a large extent working ‘in the dark’. Since economics is a social science and overlaps with the other social sciences, the material covered provides useful links with other courses.
The aims are:
- To provide students with an understanding of the ways in which the economy functions;
- To demonstrate ways in which the economy may affect businesses, and to assist students to make their own assessment to the likely impact of economic developments on business conditions.
Assessment
One assignment is set in the middle of the course to be handed in during the final week of the course. This assignment counts for 40%of the final examination mark. A two-hour written examination will account for the other 60%.
EMPLOYEE RELATIONS
This course provides both a theoretical and practical insight into day-to-day personnel relations. It focuses on three distinct but inter-related areas: legal aspects, personnel policy and practice, and industrial relations.
The primary aim of the course is to acquaint students with the major contemporary issues in this vital area of business and to equip them with the necessary background so as to successfully carry out their duties as employees and employers.
Assessment
An essay to count for 40% and an unseen examination for 60%.
FINANCIAL MARKETS
This course deals with stock markets and other kinds of developed organised markets. It is a fairly analytical course so, even though an effort will be made to keep the mathematics as simple as possible, it will frequently be necessary to express arguments in symbolic terms and students should be prepared for to deal with some conceptual difficulties with parts of the course. The aim is to familiarise students with modern analyses of these markets and techniques of financial investment based on this. The course is particularly appropriate for anyone contemplating a career in finance, such as, for example, stock broking, investment analysis, investment advice, merchant banking, dealings and is a start expertise in this type of occupation.
Assessment
60% final exam 40% continuous assessment. The latter will consist of a class test and homework.
BUSINESS POLICY & STRATEGY
Business Policy & Strategy is concerned with the problems of the problems facing General Managers who have to integrate and synthesise all available manager functions to run their business. By ‘running a business’ it is meant much more than the day-to-day issues for organisations, or the slightly more encompassing problems associated.
Scheduling or pricing, for example, are operational or tactical problems; business policy analysts focus on ‘strategic’ issues involving major resource allocation or long-term financial planning. Even more fundamental than those issues of strategy are the issues of business ‘objectives’ which must be mutually agreed by the stakeholders before a strategy or grand plan can be implemented. Objectives, in turn, are determined by the ‘style’ and ‘management philosophy’ of the principal actors, plus external environmental constraints.
The aims are:
- To provide a course which enables participants to combine the functional analysis taught in other subjects on the postgraduate degree with business strategy and planning;
- To help students understand and communicate with General Managers and to provide the initial background for those who themselves intend to have a general management career;
- To cover major areas of public controversy and academic interest in so far as it affects current business practice.
Assessment
Two projects to account for 40% Final examination 60%
MARKETING RESEARCH
Marketing research is concerned with the systematic collection, analysis and interpretation of data in order to help Marketing Managers make better marketing decisions. In the last few years the greater availability of data and computing capacity and the growing awareness of the complexity of marketing decisions, have made marketing research a growing activity.
The aims are:
- To provide an awareness and understanding of the major analytical tools of marketing research;
- To enable students learn how to interpret research findings and make marketing decisions in the light of such findings.
Assessment
One assignment 30%, one Case Study 20%, Final two hour written examination 50%.
EUROPEAN UNION LAW
The purpose of the course is two-fold. First, we explore in depth the impact of the new legal order of the EU in relation to national law, more specifically, its constitutional implications for national law. We consider the impact of EU membership on individuals and the extent to which their rights are affected and protected through the whole range of remedies provided under EU law. A thorough grasp of these principles is essential to the successful operation of business within the EU, particularly with regards to free movement of goods. Substantive topics can vary from year to year to include, for example, legislation on company law, sex discrimination or human rights. As the brief resume above suggests, the course is, above all, a varied one: both of theoretical interest and practical application, and not without human interest. It is topical. It can usefully be studied in combination with a number of other subjects depending on the student’s inclination, be it commercial, with an eye to Big Business, or social, with a view to working in the field of citizens’ rights or social welfare. Alone, or within other international subjects, EU law introduces a new and broader perspective to the study of our legal system. But whether the student’s bent is practical or academic, we can no longer afford to ignore the European dimension.
Assessment
Essays to count for 50%.Written examination to count for 50%.
THE EUROPEAN BUSINESS ENVIRONMENT
The integration of the European economies is becoming increasingly important for business people who wish to understand the nature of this integration and its likely consequences for individuals, industries and national economies. This course has been devised principally to provide insights into the operations of the European Union, but it also looks beyond the boundaries of the Union to its relations with the rest of the world.
The aims are:
- To introduce the economic and statistical literature required for an examination of the European Economy;
- To provide the analytical tools required for an analysis of the problems of the European Economy;
- To instill an appreciation of the structural changes which have taken place in the contemporary European Economy;
- To examine EU markets after Maastricht and the introduction of the EURO.
Assessment
Two projects of 30% each. Final exam of 40%.
ORGANISATIONAL INFORMATION RESOURCES
The concept that information is a corporate resource and needs to be managed as such has led to the development of information resource management programmes in a variety of organisations. The course examines the concepts and techniques employed in managing organisational resources, including records management procedures, the use of microcomputer DBMS, and computerised electronic office system, internet and e-commerce.
The aim, therefore, is to introduce the student to the range of materials which may be encountered, and to the concepts and techniques employed in managing organisational information resources in both manual and computerized form.
Assessment
Students would work in groups of 2-3 to prepare a report on the requirements of a database/information system for a specific-type of organisation.
FINANCIAL MANAGEMENT
This subject is primarily concerned with the concepts of time-value of money and risk-return trade-offs. The analytical aspects of the subject will examine the various impacts of major financial decisions on the value of the firm. The core of the subject is organised around the objective of maximizing the value of a firm for its shareholders.
The aims are:
- To familiarise the students with the main conceptual, theoretical and analytical issues in Finance;
- Enhance students’ understanding of the major business decision-making process further by developing the link between accounting and financial decision making;
- Introduce the most recent significant changes in the field of financial management.
Assessment
40% Continuous Assessment. 60% Final Examination
INTERNATIONAL MARKETING
The aims of this course are to:
- Compare and contrast export, international and multinational marketing;
- Differentiate between the marketing policies appropriate to industrialised, developing and under-developed economies;
- Demonstrate the major differences between national and multinational marketing planning;
- Identify sources of information, methods of information collection, and methods of information analysis suitable for international marketing operations;
- Identify the factors which distinguish product, price, and promotional policy formulation for overseas markets as opposed to the domestic markets;
- Formulate methods of monitoring and controlling overseas selling and distribution;
- Identify the major organisational changes to be made when a company moves from international to multinational marketing;
- List the main methods, procedures and documentation requirements for exporting;
- Identify and discuss the impact of co-operative and restrictive measure to regulate international trade.
Assessment
Assignment: 20% Case Study. Analysis: 20%. Final, two-hour written examination, accounts for 60%
ADVERTISING & PUBLIC RELATIONS
The aims are:
- To familiarise the student with the tremendous potentials and vital role that advertising and PR play in the success of a Corporation;
- Identify the areas of advertising effectiveness and the need for continuous monitoring by management..
Assessment
40% essay and 60% final written examination
OPERATIONS MANAGEMENT & OPERATIONAL RESEARCH
Operations Management is concerned with the effective and efficient marshalling of the organisation’s resources to meet its objectives. The concepts and techniques apply to manufacturing and service industries in both private and public sectors. Operational Research is a systematic and logical approach to the solution of management problems, often involving the construction and manipulation of mathematical models. It is used extensively in Operations Management as well as in other functional areas of an organisation.
The aims of the course are:
- To understand the basic concepts and techniques of Operations Management;
- To understand the approach and some of the techniques of Operational Research;
- To be able to tackle cases, particularly those relating to Operations Management, by utilizing these concepts, approaches and techniques.
Assessment
One piece of written coursework 40% and an unseen examination 60%
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