Students who are interested in management and who would like to advance both their education and career may want to consider a Master of Science program in strategic management. Below, information about these programs, including common courses and admissions standards, is provided in order to help prospective students determine whether these programs are a good fit for them.
Information About M.S. Degrees in Strategic Management
Master of Science degrees in strategic management are typically aimed at students who are interested in becoming leaders within companies, organizations, and corporations. These programs focus on providing students with advanced instruction in areas that are key to successfully managing a business operation. Students may be able to find these degree programs in an online format as well as on campus. Below, we will look at five courses that are commonly found in the curriculums of these programs.
A course that focuses on financial management is a common part of the curriculum of these programs and will provide students with an overview of basic financial principles, as well as how to apply these principles to complex business problems. The course may involve looking at the finances of real-world businesses to provide analysis and determine the financial health of various organizations. Some topics that may be covered in this course include investment, financial theory, risk management, and capital budgeting.
Given the nature of these programs, students will also commonly be required to take a course that focuses specifically on strategic management. In this course, students will likely be presented with a number of real-world case studies so that students can evaluate and analyze how different businesses responded to various management problems. Students will learn about the importance of contextual decision-making, or being able to make strategic decisions while taking into account the different conditions of the business market or any other factors that may affect how a decision is made.
Organizational Behavior and Change
A course that covers organizational behavior and organizational change is also often a part of the curriculum of these programs and will typically provide students with an overview of organizational behavior theories. Additionally, students will learn about how managers can be effective in overseeing a process of change within an organization in a way that is beneficial to the business. Some topics that may be covered in this course include competitive advantage, theory, team building, and process consultation.
Students may also take a course that focuses on some aspect of international business or business management. In such a course, students may learn about various business practices that may be used when conducting business internationally, different challenges that are associated with growing into the international business market, and how to effectively manage these risks. Additionally, this course may focus on the complexities of the global marketplace and some of the organizations that are involved in global business, like the WTO and NAFTA.
A course that covers topics in business ethics may also be required in strategic management master's degree programs and will provide students with an overview of the role of ethics within a business. Students will likely be presented with case studies in which they will have to analyze the decisions made by businesses and organizations from an ethical perspective. The course may also cover the relationship between ethics and various other guidelines that affect business behavior, like laws and governance.
General Admissions Guidelines for M.S. Programs in Strategic Management
When applying to a master's degree program in strategic management, students will need to submit a complete application file to admissions committees in order to be considered. This file will need to contain a completed application form, undergraduate academic transcripts, letters of recommendation, a personal statement, and a professional resume or CV. Students are advised to check with each program they are interested in to make sure they fulfill the admission requirements and correctly follow the admissions process.
In summary, master's degree programs in strategic management are available at various locations in the United States and provide enrolled students with advanced instruction in areas like strategic management, ethics, international business, and more.