Students interested in careers managing and guiding other professionals in an organization might want to consider earning a Master of Science in Management (MSM). In this article, prospective MSM students can learn about core courses and consider some common admission requirements for schools offering an MSM.
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- Actuarial Sciences
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Master of Science in Management Programs
A Master of Science in Management (MSM) program provides a graduate education to students interested in the theory and application of management principles to the business world. MSM programs differ from Master of Business Administration programs in that they may be more focused upon organizational structure, human capital, and business decision-making as opposed to quantitative fields of study, such as finance, economics, and accounting.
An MSM program typically requires 11-24 months to complete. In addition to core courses, students may be able to select an area of specialization, such as project management or information technology. A practicum or scholarly research paper could provide students with additional hands-on opportunities. Online and on-campus programs are available. Common core MSM courses are outlined below.
Within this course, students might be exposed to a range of tools and principles designed to promote the efficient planning of projects. Some of these tools could be the balanced scorecard and stop-light charts. Computer software designed to promote project management may be introduced.
A course in business law provides students with the opportunity to learn about the management of a business from a legal perspective, both in modern times and historically. Students may think about legal issues that managers must frequently address, such as contracts and personnel issues. In addition, legal issues arising from a global business environment could be a topic of this course.
A course in marketing may provide students with an introduction to a wide range of concepts important in making business decisions regarding marketing programs. Specific topics may include brand management, advertising, and determining appropriate price points. A case study could provide hands-on experience in marketing concepts.
Business communications classes may introduce students to the interpersonal, listening, and presentation skills required to effectively communicate within a business environment. Students could consider the culture of a business organization, conflict management strategies, and different requirements for communication when intercultural differences exist. Specific forms of communications, from email to formal presentation, may be covered.
Data Mining and Decision-Making
A course in data mining may present information regarding the applications of large-scale data to future managers. The content could include how to frame data-driven questions and how to make decisions based on data. Students might also review how to model and visualize data derived from mining practices.
Human Resource Management
The functions of human relations, such as recruiting and selecting employees, planning compensation plans, and developing and training employees may be considered. The role of human resources in labor and employee relations could be a topic as well. Students might also examine how different business environments can impact human resources decisions.
Experience may be an important component in admissions decisions for the MSM, and candidates should expect to submit a resume that details their business and management credentials. Other common requirements include the submission of transcripts, a statement of purpose, recommendations, and results on the GMAT or GRE. Previous coursework in statistics, calculus, or business analytics may be a prerequisite.
An MSM program can provide a wealth of opportunities for those interested in advancement in the business world. Students may be able to choose courses and specializations that provide them the knowledge necessary to get ahead in their field.