Master of Science in Management, abbreviated MSc, MScM,
MiM
MIM or Mim may refer to:
Places
* Mim, Ahafo, Ghana
* Mim Lake, Ghana
* Mim Bour, or Mim Mountains, Ghana
Education
* Master of Management, a post-graduate master's degree
* Master of Information Management, an interdisciplinary degree progra ...
or MSM, is a
professional degree with a focus on
management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business.
Management includes the activities o ...
.
In terms of content, it is similar to the
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) and is also related to the
Master of Science in Commerce (MS-Comm or MS-Com).
Subjects
Graduates holding an MSc in Management have commonly studied the following subjects:
*
Business Ethics
Business ethics (also known as Corporate Ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business co ...
* Corporate and Business Strategy
*
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
Economics focuses on the behaviour and intera ...
*
Engineering management
Engineering management is the application of the practice of management to the practice of engineering.
Engineering management is a career that brings together the technological problem-solving ability of engineering and the organizational, admini ...
*
Entrepreneurship
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...
*
Finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...
*
Financial Management and
managerial accounting
In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.
Definition
One simple definition of management accounting is t ...
*
Human Resources Management
Humans (''Homo sapiens'') are the most abundant and widespread species of primate, characterized by bipedalism and exceptional cognitive skills due to a large and complex brain. This has enabled the development of advanced tools, culture, ...
and
Organizational Behavior
Organizational behavior (OB) or organisational behaviour is the: "study of human behavior in organizational settings, the interface between human behavior and the organization, and the organization itself".Moorhead, G., & Griffin, R. W. (1995) ...
*
Management Information Systems
* Management Theory
*
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
or
Marketing Management
*
Operations Management and
Supply Chain Management
In commerce, supply chain management (SCM) is the management of the flow of goods and services including all processes that transform raw materials into final products between businesses and locations. This can include the movement and stor ...
*
Protected Area
Protected areas or conservation areas are locations which receive protection because of their recognized natural, ecological or cultural values. There are several kinds of protected areas, which vary by level of protection depending on the ena ...
Management
* Personal student
dissertation (
thesis
A thesis ( : theses), or dissertation (abbreviated diss.), is a document submitted in support of candidature for an academic degree or professional qualification presenting the author's research and findings.International Standard ISO 7144: ...
)
In
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
, 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.
Comparison to MBA
As is the case with the MBA degree, as the number of
school
A school is an educational institution designed to provide learning spaces and learning environments for the teaching of students under the direction of teachers. Most countries have systems of formal education, which is sometimes compuls ...
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.
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
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business.
Management includes the activities o ...
, while the MBA degree studies the academic discipline of
Business Administration
Business administration, also known as business management, is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. From the point of view of management ...
. 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."
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.
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).
While the MBA degree was started in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
, the MSc in Management degree is of
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...
an origin. There seems to be a tendency that the demand for MBA is saturated whereas the demand for Masters in Management is increasing.
See also
*
MPhil
The Master of Philosophy (MPhil; Latin ' or ') is a postgraduate degree. In the United States, an MPhil typically includes a taught portion and a significant research portion, during which a thesis project is conducted under supervision. An MPhil m ...
*
Master of Business Administration
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
(MBA)
*
Master of Management (MM)
*
Master of Science in Finance
Master or masters may refer to:
Ranks or titles
* Ascended master, a term used in the Theosophical religious tradition to refer to spiritually enlightened beings who in past incarnations were ordinary humans
* Grandmaster (chess), National Maste ...
*
Master of Commerce
*
Doctor of Management The Doctor of Management (DM or DMgt) is an applied research doctorate (or professional practice doctorate) with a degree focus in management, leadership, and organizational topics."
References
{{reflist
Science in Management
Business qualifications
Management education
Management cybernetics