Masters in Management

Masters in Management (MIM) is a post-graduate program for those who complete a one to two-year graduate level coursework in business management from a recognized institution. It is a program that is generally designed for students who want to take up leadership positions, and therefore attracts students from diverse academic disciplines. The program structure is very similar to programs like Masters in Business Administration (MBA), Master of Arts in Management, and Master of Science in Management (MSM).

Masters in Management programs can sometimes be used as a precursor to an MBA. 

Overview

• Recognition. Globally recognized
• Duration. 1-2 years (depending on the institution)
• Focus Areas. Financial resources management, Entrepreneurship management, Organizational behavior, Strategic management, International business management, Managerial economics, corporate communication
• Grading and Assessment. Varies based on country, university and subject.
• Eligibility. Universities offering Masters in Management may require their students to have an undergraduate degree in business administration. However, students from various disciplines are accepted in the course too. Most Masters in Management programs are designed for those with little or no work experience, with many students enrolling straight after completing an undergraduate degree.

  However, this varies from university to university

Standard requirements

-Updated CV 

-Reference letters (academic and/or from an employer) 

-Personal statement 

-Results of tests such as GMAT, GRE, IELTS or TOEFL

Key differences in MIM and MBA

The first clear difference is that MIMs are specialized in a specific business area, such as accounting or marketing. Another difference is that MBA programs require several years of business experience whereas MIMs target graduates with less than a year or even no time at all in a job. As a consequence, MBA students can learn from their classmates’ practical experience and gain insights into their industries. MIM students primarily build up knowledge through classroom teaching and case studies only. MBA curricula are also more practically oriented, primarily teaching through case studies and sharing the students’ work experience in the classroom. MIM programs, by contrast, include more theory, particularly when they lead to a Master of Science degree 

Why do a Masters in Management/Is it right for you?

A Masters in Management allows students to develop their understanding of business operations and organizational behavior from multiple perspectives. Ultimately, the goal is for students to graduate with a solid foundation in effective management practice in their chosen industry, with an eye towards an eventual leadership role.It is an ideal course for recent graduates who have no work experience and wish to work in leadership positions.  This course is suitable for students who come from non-business backgrounds and are looking to gain some business concepts. 

A Masters in Management will prepare -students to handle management issues in all areas of business with the option to concentrate or specialize in one area. Most programs begin with a set of required courses and then offer more specialized courses two thirds of the way through the program.   

There are plenty of career options available for students who pursue an MIM such as management consultants, general managers, academic management careers and many others. 

In choosing the correct degree, ask yourself the following questions:

Subjects: What subjects you wish to study? Do you want to learn more about business management and leadership? 

Curriculum: Review the course content and teaching style thoroughly, as an MIM and an MBA may vary significantly from university to university, and also have different requirements. 

Career Options: Does the degree put you on a path to realising your career aspirations as a managerial professional ? 

Interests: Do your interests lie in leadership, management, or business?