Master of Science in Management: Difference between revisions

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{{Short description|Post-graduate degree}}

{{Onesource|date=October 2008}}

A '''Master of Science in Management''', (abbreviated as '''MScMS Management''' or '''MSM''',) is a [[Master of Science]] [[academicprofessional degree]] thatwith isa commonfocus throughout the United States and Europe. It is similar to theon [[MBAmanagement]].<ref>{{Cite degree,journal and|title=Andreas oftenKaplan: requiresA aschool dissertation ([[thesis]]) beforeis "a graduatebuilding isthat admittedhas tofour it.walls…with Thetomorrow MScinside": isToward athe research-orientedreinvention program.of Inthe Asia,business thisschool MSc|journal=Business mayHorizons also be titled ''MPhil''|doi=10. 1016/j.bushor.2018.03.010}}</ref>

In terms of content, it is similar to the [[Master of Business Administration|Master of Business Administration (MBA)]] degree as it contains identical management courses but is open to prospective postgraduate candidates at any level in their career unlike MBA programs that have longer [[course credit]] requirements and only accept mid-career professionals. In many cases it is synonymous with the [[Master of Management]] (MiM)<ref>{{Cite journal |title=Andreas Kaplan: A school is "a building that has four walls…with tomorrow inside": Toward the reinvention of the business school |journal=Business Horizons |doi=10.1016/j.bushor.2018.03.010}}</ref> and is also related to the [[Master of Commerce|Master of Science in Commerce]] (MS-Comm or MS-Com).<ref>{{Cite web |title=University of Virginia McIntire — M.S. in Commerce {{!}} McIntire School of Commerce - UVA |url=https://www.commerce.virginia.edu/ms-commerce |access-date=2024-01-29 |website=University of Virginia McIntire School of Commerce |language=en}}</ref>

See [[List of master of science in management degrees]].

==Subjects==

Graduates holding an MSc in Management have commonly studied the following subjects{{Fact|date=February 2008}}:

* [[Business Ethics]]

* Corporate and Business Strategy

* [[Economics]]

* [[Engineering management]]

* [[Entrepreneurship]]

* [[Finance]]

* [[FinanceFinancial Management]] and [[managerial accounting]]

* [[Human Resources Management]] and [[organisationalOrganizational behaviourBehavior]]

* [[Management TheoryInformation Systems]]

* Management Theory

* [[Marketing]] or [[Marketing Management]]

* [[Operations Management]] and [[supplySupply chainChain managementManagement]]

* [[Protected Area]] Management

* Personal student [[dissertation]] ([[thesis]])

In [[Canada]], a highly specialized MSc in Management is also quite common (ex: MSc in Management in Finance and Accounting). These degrees are meant to provide students with a highly specialized set of skills for industry or for further [[academic study]].

* Air Transportation/[[Aviation]]

== Comparison to MBA ==

As is the case with the MBA degree, as the number of [[school]]s granting MSc in Management degrees has grown, so has the diversity of characteristics defining these programs. In most cases, the MSc in Management is an academic degree with no or some requirements for previous job experience, while the MBA is also a professional degree for persons with minimum 2–3 years job experience or 2nd class lower division [[honorees]]. However, there are also schools where the MSM degree is granted only to managers with extensive (typically 10 years or more) of work and managerial experience. Whereas MBA programs are open to people from all academic disciplines; about one third of the MSc in Management programs worldwide require a first degree in business or economics.<ref>{{cite web |author=Thomas Graf |url=http://www.mim-compass.com/content/download/4362/193346/version/9/file/Global_MIM_Study_2012_Report.pdf/ |title=Global MIM Survey 2012 |publisher=Master in Management Compass |access-date=2012-07-01 |archive-url=https://web.archive.org/web/20141023161604/http://www.mim-compass.com/content/download/4362/193346/version/9/file/Global_MIM_Study_2012_Report.pdf/ |archive-date=2014-10-23 |url-status=dead }}</ref>

Some claim the MSc degree is more theory-oriented, and some programs do focus on specific skill set development for managers, while the MBA degree can be more practice-oriented and financially focused. In some schools, the MSc in Management degree studies the academic discipline of [[Management]], while the MBA degree studies the academic discipline of [[Business Administration]]. Thus, some MSc degree programs focus on research in a specialized area, while the MBA degree would place more emphasis on strategy. According to one school, "While the MBA program focuses on the practical application of management theory, the M.Sc. in Management will provide for an advanced-level conceptual foundation in a student’s chosen field, and allow for the pursuit of highly focused research through a master’s level thesis."<ref name="Brock">{{cite web|url=http://www.bus.brocku.ca/msc/ |title=Master of Science in Management &#124; Brock University |publisher=Bus.brocku.ca |date=2009-10-08 |access-date=2012-09-16}}</ref>

Both degrees contain strong professional focus and are both very well suited for professionals wishing to improve positions in their respective industries. Most MSc in Management programs contain very directed content geared towards development of a particular set of leadership skills for the mid-career professional looking to improve their credentials. Both the MBA and the MSc in Management can be completed online or in-person in roughly 1-2 years depending on the school providing the programs.

The MSc in Management degree studies the academic discipline of [[Management]], while the MBA degree studies the academic discipline of [[Business Administration]]. Thus, the MSc degree focus on research in a specialized area , while the MBA degree would place more emphasis on strategy.

Persons admitted to the degree of MSc in Management are entitled to add the designation ''MSc'' or ''MSM'' after their names (e.g. Domeng Gomez MSc), while those holding an MBA can add the designation ''MBA'' (e.g. Domeng Gomez MBA).

The MSc in Management is an academic degree with no requirements for previous job experience, while the MBA is a professional degree for persons with minimum 2-3 years job experience. The MSc degree is more theory-oriented, while the MBA degree is more practice-oriented. While this in some sense means that the MSc degree prepares students for entry into the academia and the MBA prepares them for managerial positions in the industry, in reality both degrees contain strong professional focus and are both very well suited for students wishing to gain positions in the industry. Likewise, the MBA degree is based on established academic theory, and could be the basis for a career in the academia.

While the MBA degree was started in the [[United States]], the MSc in Management degree is of [[Europe]]an origin. There seems to be a tendency that the demand for MBA is saturated whereas the demand for Masters in Management is increasing.<ref>{{cite web|last=McCormack |first=Steve |url=https://www.independent.co.uk/news/education/higher/special-attention-the-rising-demand-for-masters-in-management-courses-2142804.html |archive-url=https://ghostarchive.org/archive/20220512/https://www.independent.co.uk/news/education/higher/special-attention-the-rising-demand-for-masters-in-management-courses-2142804.html |archive-date=2022-05-12 |url-access=subscription |url-status=live |title=Special attention: The rising demand for Masters in management courses - Higher - Education |work=The Independent |date=2010-11-25 |access-date=2012-09-16}}</ref>

== See also ==

The MSc in Management degree is best suited for new graduates holders of a [[Bachelor's degree]] in any discipline with no work experience, while the MBA degree is best suited for graduates with some work experience, preferably in supervision or management.

Persons admitted to the degree of MSc in Management are entitled to add the designation ''MSc'' after their names (eg John Smith MSc), while those holding an MBA can add the designation ''MBA'' (eg John Smith MBA). People reading curriculum vitae documents readily recognise the MBA designation, but the MSc designation may be assumed to be in a non-business area, eg in science or engineering, so holders of MSc in Management should make it clear that they have a business degree in the Education section of their CV.

While the MBA degree was started in the [[US]], the MSc in Management degree is of [[Europe]]an origin.

{{unreferencedsection|date=July 2009}}

== Careers and further study ==

Holders of MSc in Management degrees are well-suited for managerial roles in any industry, but they face competition from MBA holders.

Holders of MSc in Management degrees can be accepted in PhD programmes, while those having an MBA would usually be better suited for a DBA ([[Doctorate in Business Administration]]).

== Reputation in Europe ==

[[HEC Paris]]'s [[Master in Management]] Program was ranked 1st in Europe in 2005, 2006, 2007 and 2008<ref name="t">[http://rankings.ft.com/businessschoolrankings/masters-in-management<!-- Bot generated title -->]</ref>.

[[ESCP Europe]]'s Master in Management Program was ranked 2nd in Europe in 2006 and 2008<ref name="t">[http://rankings.ft.com/businessschoolrankings/masters-in-management<!-- Bot generated title -->]</ref>.

[[London School of Economics]]'s existing Master in Management and Strategy programme (previously MSc Management) was ranked 4th in Europe in 2008<ref name="t">[http://rankings.ft.com/businessschoolrankings/masters-in-management<!-- Bot generated title -->]</ref>.

[[Stockholm School of Economics]]'s Master in Management was ranked number one in Northern Europe and 12th in Europe in 2008.

[[EM Lyon]]'s Master in Management Program was ranked 7th in Europe in 2008<ref name="t">[http://rankings.ft.com/businessschoolrankings/masters-in-management<!-- Bot generated title -->]</ref>.

[[EDHEC Business School]]'s Master in Management Program was ranked 9th in Europe in 2008<ref name="t">[http://rankings.ft.com/businessschoolrankings/masters-in-management<!-- Bot generated title -->]</ref>.

[[Audencia Nantes]]' Master in Management Program was ranked 11th in Europe in 2008<ref name="t">

[http://rankings.ft.com/businessschoolrankings/masters-in-management<!-- Bot generated title -->]</ref>.

[[Euromed Management]]'s Master in Management Program [http://www.euromed-management.com/en/our-training-programmes/msc-in-management-847-t2.aspx]</ref>.

== See also ==

* [[List of master of science in management degrees]]

* [[MPhil]]

* [[Community of European Management Schools and International Companies|CEMS]] (Community of European Management Schools and International Companies)

* [[Master of Business Administration]] (MBA)

* [[Master of Management]] (MM)

* [[Master of Science in Marketing Management]]

* [[Master of Science in Finance]]

* [[Master of Commerce]]

* [[MasterDoctor of Science in Marketing Management]]

== References ==

{{reflist}}

[[Category:Master's degrees|Management, master]]

== External links ==

* http://www.findamasters.com/search/showcourse.asp?cour_id=3992

*[http://www.escp-eap.eu/programmes/master-in-management/escp-eap-master-in-management-master-grande-ecole-key-features/ ESCP-EAP Master in Management]

*[http://www.em-lyon.com/english/graduate/msc/index.aspx EMLYON Business School - MSc in Management]

*[http://www.lse.ac.uk/collections/management/MiM/Default.htm London School of Economics and Political Science - Masters in Management]

*[http://www.bus.brocku.ca/msc/]

[[Category:Master's degrees|Management, master]]

[[Category:Business qualifications]]

[[Category:Management education]]