Business Management

BUSINESS MANAGEMENT 

Hybrid learning approach is applied in this study programme. Hybrid learning is an educational model where some students attend class in-person, while others join the class virtually from home. 

Business management is a science about the regularities, principles, methods and organizational mechanism of managing companies and organizations.

The study programme covers planning, organizing, managing and taking control over different activities and creates preconditions for effective business management in a dynamic environment thus ensuring business competitiveness and added value creation at the national and international level.

The studies are aimed at training highly qualified Master’s degree students capable of integrally applying knowledge of economics and management sciences in order to achieve effective business management solutions based on scientific argumentation under conditions of uncertainty.

Specialists in Business Management understand the standards of design, organization, coordination and implementation activities performed by modern business organizations. They manage to assess the possibilities of the condition and development of an organization through the simulation of business management scenarios and making systemic and critical thinking decisions on development-friendly strategies in the areas of the economic and social effectiveness of the planned activities, innovations and technological progress.

The students of the Master’s degree programme in Business Management can choose among specializations in Innovation and Business Digitalization, Organization Management, Marketing Management or International Business.

The Innovation and Business Digitalization specialization. 
In today’s business environment, various changes and technological developments are continually taking place. Business companies have to adjust to these changes and use digital innovation to remain competitive. Digital technologies can significantly increase business efficiency, optimize business processes, and provide opportunities to create new products, services, and business models. Digitalization can also contribute to business sustainability by reducing the use of resources and the environmental impact. As a result, there is a growing demand for professionals with expertise in the fields of innovation and business digitalization.  

Students of this specialization acquire the ability to properly and effectively use business information systems, to implement changes in organizations by digitizing business processes, to apply innovative solutions in the activities of virtual teams, to use e-media solutions in the organization's communication and shaping its image.

The Organization Management specialization. John Maxwell, a global guru of leadership and management (https://www.johnmaxwell.com/), provides that everyone can change personal world, however, it requires unlocking our potential for inner growth.

The Organization Management specialization is focused on helping to unleash your inner potential by becoming professionals owing systemic and strategic thinking and therefore responding appropriately to dynamic changes and challenges of organizations.

Specialists in organization management are able to effectively administer the existing organizations or their divisions, create and successfully develop new organizations, adapt, reform private and public capital business management systems, efficiently deal with the internal processes of companies and successfully communicate with the external environment.
The Organization Management specialization is designed for those seeking knowledge and practical skills in models for modern business, multifunctional business management tools and methods that enable organizations to operate successfully in the context of dynamic and uneven economic growth.

The Marketing Management specialization. As stated in the study by the University of California, San Diego, the human brain receives 105,000 words a day through social networks, email, television, radio, newspapers, books, etc.

Adding visual information — videos, games or photos — requires to process approximately 34 gigabytes of information per day.

Thus, the question of how to make the user focused in a crowded information environment arises. 

The students majoring in Marketing Management are provided with knowledge of planning marketing strategies tailored to the needs of the modern user.

By applying smart technologies, the students learn to select appropriate communication channels and create inclusive content in order to increase the brand awareness of the organization and to develop long-term relationships with target consumer groups.

The International Business specialization. The development of international business is becoming increasingly important in the contemporary world. Thus, in order to maintain and improve competitive positions, companies expand their activities outside the specified country and cooperate with foreign partners.

In this context, the knowledge and skills of international business management are gaining more and more weight.

The International Business specialization includes an interdisciplinary approach to understanding the international business environment the managers in which make business decisions.

The students are provided with knowledge of international communication, the management of international trade flows, international marketing and management decision-making.

The International Business specialization broadens skills at using management information technologies. The graduates in this specialization manage to respond to real-world economic and political situations, assess their impact on business activities and simulate business scenarios in the international context.

The studies of this specialization are taught in English.

Learning outcomes
The Master's degree programme in Business Management is designed:

• to effectively conduct national and global businesses;
• to carry out research and make management decisions based on research findings;
• to apply knowledge of organizations, innovation, information technology and finance management.

Master‘s degree holders in Innovation and business digitialization specialization will be able to:

• implement business information systems aimed at increasing the efficiency of network business under the conditions of global competition;
• develop an innovative business environment;
• implement changes in organizations by digitizing business processes;
• apply innovative solutions in the activities of virtual teams;
• use e-media solutions in the organization's communication and shaping its image.

Master‘s degree holders in Organization Management will manage:

• to lead various departments of an organization;
• to initiate and efficiently manage changes in activities;
• to simulate situations and predict the actions of competitors;
• to reform business management systems for private and public capital;
• to anticipate and implement effective management measures;
• to pursue goals and lead business and public sector organizations.

Master‘s degree holders in Marketing Management will manage:

• to perform the combined analysis of marketing processes and apply integrated marketing methods for implementing them in the value chain;
• to assess the effectiveness of recent marketing systems on the global market;
• to efficiently organize marketing processes;
• to scientifically substantiate marketing strategies adapted to the needs of the modern user and carry out marketing research;
• to use information and communication technologies, select appropriate communication channels and create inclusive content in order to increase brand awareness and build and develop long-term relationships with target consumer groups.

Master‘s degree holders in International Business will manage:

• to work as managers, analysts and consultants for international business companies and trade organizations;
• to lead international development units in public administration institutions treating competence in international relations as a factor in strategic development;
• to carry out research in the field of international business management and make management decisions on the basis thereof;
• to design and disseminate international economic relations;
• to develop and implement international business management systems;
• to organize international trade;
• to make innovative decisions on international business assessing the possible consequences of social and ethical activities;
• to apply international marketing concepts in a multicultural context.

Career opportunities may include:

• Work as the business management and development specialists of various profiles for national and international organizations.
• Conducting scientific and applied research.
• Shaping and making wise decisions in the fields of electronic media, marketing, organizational management and international businesses.
• Studying a Doctoral degree programme in Business Management or other field of social sciences.