SCHOOL OF BUSINESS MBA HANDBOOK 2011-2012 Committed to Excellence in Europe
Committed to Excellence in Europe
CONTENTS Welcome Why in Cyprus University of Nicosia Introduction MBA Programme Philosophy MBA Programme Structure The MBA Courses of Instruction Academic Policies and Regulations Admission Requirements The MBA Graduates The MBA Faculty 4-5 6-7 8-9 10-11 12-13 14-15 16-31 32 33-35 36-37 38-46
4 A WARM WELCOME TO ALL MBA STUDENTS
Dear MBA students: To become an exceptional business leader in a rapidly changing world, you need an exceptional MBA. The University of Nicosia MBA offers a unique lifetime experience to those who seek to be accomplished and authentic business leaders. The University of Nicosia MBA provides all the academic rigour you should expect from a top-tier programme. Committed to excellence, our MBA is one of the best offered in Cyprus and the Eastern Mediterranean region, with state of the art facilities and technological support. Our relationship with the business and educational communities in Cyprus, the European Union, the United States and other parts of the world, projects another challenging endeavour for you. Through our MBA programme at The University of Nicosia you will be exposed to a plethora of challenges and great opportunities to enhance your personal and career horizons. Our programme is taught by faculty who have a wealth of teaching, research, and real business world experience, and who will provide the necessary tools for an all-round educational experience. The University of Nicosia MBA aims to develop competent, entrepreneurial, internationally oriented, and socially responsible managers who can master tomorrow s challenges. We believe that companies and societies need managers and leaders who can think beyond the logic of a single department or unit, and take into consideration broader corporate and societal interests. In today s world, people like you will play a significant role in shaping the global business environment with all its idiosyncrasies and peculiarities. You will need to possess leadership, and international business, technical, managerial, crosscultural, and organisational skills. These qualities will make a difference not only in Cyprus and Europe, but the rest of the world as well. We will ensure that upon the completion of your studies you will be well equipped to face the aforementioned issues. Our philosophy towards teaching has enabled us to create an effective and stimulating learning environment. We think that a combination of solid theory, practical case studies and close interaction with industry set The University of Nicosia MBA apart from all other business schools. Overall, it is a programme designed for business people with the determination to be skilled and knowledgeable leaders who can influence people, offer strategic direction, and make good use of financial, marketing, human and technological resources. Our mission is to create graduates who can out-think and out-smart the competition. Prof. Dr. Demetris Vrontis Director, MBA Programme Dean, School of Business 5
6 WHY IN CYPRUS?
Cyprus is situated in the northeastern corner of the Mediterranean, at the meeting point of Europe, Asia and Africa. Since the dawn of history, Cyprus has been one of the most interesting areas of the region and has a rich and visible cultural history. Ancient Greeks, Egyptians and Romans along with Crusaders, Byzantines, Franks and Ottomans have all left a powerful legacy for the modern visitor to see and admire. Cyprus is endowed with golden beaches, virgin green forests and other natural wonders. The environment remains free from pollution and other ill-effects common to industrialised countries. Cyprus enjoys a wonderful Mediterranean climate. Apart from the light rainy season between November and March, Cyprus is sunny most of the time. Mean temperatures range from 8 0 C (42 0 F), during the coldest month of December to 35 0 C (96 0 F) during the hottest month of August. The weather however is not the only attractive feature of the island - Cypriots are equally famous for the warm and friendly welcome they extend to visitors. The Cyprus economy is booming and political stability is firmly established. In May 2004, Cyprus officially became a member of the European Union and thus bridged Europe to the Middle East and the rest of the world. Having emerged as one of the region s leading business and financial centres, the island enjoys competitive advantages in areas such as tourism, consultancy, shipping, telecommunications, banking and insurance services. Because Cyprus provides an ideal setting for higher learning, it is no wonder that it has become a major international education centre, attracting scholars and students from all over the region. This cultural diversity makes it a forum for international understanding and peace, thus providing a firm foundation for the educational philosophy of The University of Nicosia. 7
WHY AT THE UNIVERSITY OF NICOSIA? Founded in 1980, The University of Nicosia has an established reputation for quality higher education. The University of Nicosia is the largest and most prestigious University in Cyprus. Indeed, a relevant opinion survey conducted by an independent research firm showed The University of Nicosia to be the most reputable University in Cyprus. As a modern, progressive institution, The University of Nicosia offers unique educational opportunities to students of varied backgrounds. At The University of Nicosia, students benefit from: - The opportunity to earn the University s reputable qualification. - Its international character and diverse academic and professional expertise. - Its extensive links with the industry. - The experience of being a member of an international student body. The University of Nicosia students come from many nations to prepare for leadership positions in the professions, the arts, government, industry and commerce. 8
The University of Nicosia is situated in the outskirts of Nicosia. Nicosia has been the capital city of Cyprus since the 12th century AD. It is the seat of Government and the principal diplomatic, administrative and commercial centre of the island. The city is rich in cultural and historical heritage with museums, theatres, art galleries and libraries. Foreign embassies and consulates are also located in Nicosia. The capital is an ideal centre for both business and leisure, with easy access to the island s other cities, beaches and mountain resorts. A recognized centre for global business, Nicosia is also a popular venue for many international seminars and conferences, with an excellent infrastructure including the International Conference Centre. Clearly, this overall environment is ideal for students interested in business, computing and related fields. The University of Nicosia is housed in new purposed-built premises on a 30-donum site and provides ample room for lecturing purposes, 45 classrooms, specialised teaching labs and studios. These include 12 Computer Labs [including a Multimedia and a Design Lab], a Radio-TV Production room, a large Computer Engineering Lab, an Art Room, a Digital Processing Lab, 2 Biology and Chemistry Labs, 2 Aesthetics Labs, Catering Labs and a Studio for Graphic and Interior Design. The campus also accommodates 13 amphitheaters, a cinema theater [Cine Studio], a gym, a games room, a cafeteria and a restaurant as well as a separate library building. 9
10 INTRODUCTION
The University of Nicosia is international in philosophy, development and outlook. Conscious of its unique location at the crossroads of three continents, the University strives to enhance opportunities for education and understanding between people of different cultures. The University of Nicosia aims to promote both high academic standards and high principles of character. Students are encouraged to acquire facts and competencies in various skills, as well as to develop cultural awareness, social responsibility, and personal integrity. The University of Nicosia is Cyprus leading University with its MBA Programme dedicated to excellence in management education and performance. The University s policies and strategies emphasise the key role that good management plays in competition, growth and productivity. Its activities translate that into specific efforts in executive and student education, degree granting, business consulting and management research. The University of Nicosia s MBA Programme is dynamic and intensive, and it reflects a policy that stresses flexible specialisation, experiential learning and optimum use of study time. The content and structure of The University of Nicosia s MBA Programme is constantly adjusted, incorporating the latest approaches to Management education and Executive training. Our primary mission is to prepare the students to become effective managers in today s globally competitive environment in order to meet the needs of industry and governments throughout the world. 11
MBA PROGRAMME GENERAL PHILOSOPHY Gaining a competitive advantage is the key to our world today. Rapid contemporary change in economic policies and structures, including the globalisation of industries and markets, is driving countries, organisations and individuals to continuously search for a competitive edge. Managerial ability is proving to be the most critical building stone of tomorrow s Firm Specific Advantages. Those fulfilling a managerial task, or performing a managerial role in our business structures today, will most likely require a vast mix of skills that will certainly differ considerably from traditional wisdom. Without these skills they may not be able to either gain or maintain the competitive advantage essential for survival and growth. Geographical boundaries and stage of economic growth may not have as significant an impact as we have witnessed so far. The essence will be the demonstration of excellence and a striving for comparative advantage. These are the underlying principles that influenced The University of Nicosia in the design and operating philosophy of its MBA programme. The Master s in Business Administration programme is designed to offer an insight into professional possibilities and modern organisations functioning in the context of today s competitive world. The pace of the programme is vigorous. It aims to provide participating students with the skills necessary to guide both their short and long term decisions. The curriculum aims at integrating theory with practice. Each of the core and specialisation modules involves lectures, discussions, project assignments, role-playing, case studies and applied class work. The participants consistently deal with realistic managerial and professional problems. The curriculum also includes visits by Executive guests from business and industrial corporations. The University of Nicosia MBA programme offers the possibility of five concentrations, namely: - Management - Marketing - Finance - Management Information Systems (MIS) - Human Resource Management (HRM) 12
MBA Programme Accreditation The University of Nicosia MBA Programme is locally accredited by CEEA (ΣΕΚΑΠ), the Ministry of Education of Cyprus and KYSATS The University of Nicosia School of Business is a member of AACSB - International Association to Advance Collegiate Schools of Business - U.S.A. The University of Nicosia has received recognition by the European Foundation for Quality Management (EFQM) as Committed to Excellence! The University of Nicosia School of Business is a member of EFMD - European Foundation for Management Development - Europe. 13
THE MBA PROGRAMME STRUCTURE The University of Nicosia MBA Programme requires students to complete 46 credit hours/120 ECTS, in order to obtain the MBA Degree. In addition, our MBA Programme offers free foundation courses. These foundations are scheduled twice a year and are offered to students with no business qualifications or background, free of charge. MBA Foundation Courses MBA 510 MBA 520 MBA 530 Foundations in Economics Foundations in Accounting Foundations in Statistics and Research * Students with a business related degree or background may be exempted from the Foundation Courses The University of Nicosia MBA Core Programme consists of 8 Core Courses. These Core Courses are designed to provide the student with an integrated education in all the fundamental areas of business. CORE COURSES (24 credits / 60 ECTS) CREDITS ECTS MBA-603 Decision Making Methods & Tools 3 7.5 MBA-609 Organisations and HR Management 3 7.5 MBA-611 Business Economics 3 7.5 MBA-612 Financial & Managerial Accounting 3 7.5 MBA-622 Financial Management 3 7.5 MBA-667 Strategic Marketing 3 7.5 MBA-670 Operations & Quality Management 3 7.5 MBA-685 Corporate Strategy 3 7.5 24 60 14
SPECIALISATION ELECTIVES (12 Credits/30 ECTS)* *Students get to choose four out of seven courses from one of the five specialisations offered: Management, Marketing, Finance, MIS (Management Information Systems), HRM (Human Resource Management) OPTION A - MANAGEMENT CONCENTRATION CREDITS ECTS MBA-701 Organisational Behaviour 3 7.5 MBA-703 Business Ethics 3 7.5 MBA-705 Consultancy Process 3 7.5 MBA-706 Managing Corporate Change 3 7.5 ΜΒΑ-707 Entrepreneurship and SME s 3 7.5 MBA-708 Supply Chain Management 3 7.5 MBA-709 Management Science 3 7.5 OPTION B - MARKETING CONCENTRATION MBA-711 Relationship Marketing 3 7.5 MBA-712 Market Research 3 7.5 MBA-713 Consumer Behaviour 3 7.5 MBA-716 Marketing of Services 3 7.5 MBA-717 Corporate Social Responsibility 3 7.5 MBA-718 Marketing Communications 3 7.5 MBA-719 Global Marketing 3 7.5 OPTION C - FINANCE CONCENTRATION MBA-721 Portfolio Analysis 3 7.5 MBA-722 Financial Markets & Institutions 3 7.5 MBA-723 Financial Risk Management 3 7.5 MBA-724 Global Financial Strategies 3 7.5 MBA-726 Working Capital Management 3 7.5 MBA-727 Corporate Governance 3 7.5 MBA-728 Advance Corporate Finance 3 7.5 OPTION D - MIS CONCENTRATION MBA-730 E-Business 3 7.5 MBA-733 Web Design & Development 3 7.5 MBA-735 Business Data Communication and Security 3 7.5 MBA-736 Enterprise Information Systems 3 7.5 MBA-737 Knowledge Management 3 7.5 MBA-738 IT Project Management 3 7.5 MBA-739 Business Intelligence 3 7.5 OPTION E - HRM CONCENTRATION MBA-741 HR and Organisational Development 3 MBA-742 Managing Performance 3 MBA-743 Employee Resourcing 3 MBA-744 Leadership and Innovation 3 MBA-745 Employment Law 3 MBA-746 Managing Diversity in Organisations 3 MBA-747 Employee Relations 3 7.5 7.5 7.5 7.5 7.5 7.5 7.5 INTERGRATION MBA-890 Research Methodology 4 10 MBA-899 Thesis 6 20 TOTAL 46 120 * Each concentration is offered subject to sufficient demand. 15
MBA FOUNDATION COURSES The MBA courses of instruction are briefly described below in a code numeric sequence. They are not and should not be considered as the detailed syllabuses of the courses offered at The University of Nicosia. The complete and detailed syllabi (course description) can be obtained from the Office of the MBA Programme at The University of Nicosia. MBA-510 FOUNDATIONS IN ECONOMICS This course is designed for students with no previous background in economics. It examines the fundamental economic principles such as scarcity and choice, opportunity cost, demand and supply, elasticity, cost of production and market structures. MBA 520 FOUNDATIONS IN ACCOUNTING This course covers basic topics of knowledge from accounting. The objective is to familiarise students whose undergraduate studies are not in business to the discipline of accounting. The course examines the basic principles of accounting, and the ways in which accounting statements and financial information can be used to improve the quality of decision making. The main topics covered in this course include the double entry system, the accounting cycle, preparation of the basic financial statements, and partnerships. MBA 530 FOUNDATIONS IN STATISTICS The objective of this course is to prepare students for the course MBA-603 (Decision Making Methods & Tools) and it is designed for those students who did not have undergraduate statistics or who had it long time ago. It covers basic descriptive statistics and Calculus including Organisation of Data, Graphical Data Analysis, Descriptive Measures, Probability Theory and Applications, Probability Distributions, and Calculus Concepts used in Decision Theory. An introduction to Statistical Software will also be included in the course. 16
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CORE COURSES MBA 603 DECISION MAKING METHODS & TOOLS The objective of this course is to introduce the students to decision making methods and tools, as they are applied in business and management. The course is divided in three parts, the first part introduces students to inferential statistics as they are applied in business and management decision making, the second part introduces students to the principles of regression and forecasting methods as applied in business and management and the third part introduces students to the principles of optimisation and decision theory. A number of applications and case studies will be discussed with the students in order to provide them with virtual hands-on experience in decision making. MBA 609 ORGANISATIONS & HUMAN RESOURCE MANAGEMENT Introduces MBA students, to a comprehensive review of essential personnel management concepts and techniques focusing on practical applications that all managers need to deal with their HR related responsibilities. The course focuses with specific explanations and illustrations on essential HR management topics like job analysis, selection and recruitment, testing, training and development, compensation and performance appraisal. MBA 611 BUSINESS ECONOMICS This course examines economic and strategic managerial decisions under various economic and market conditions. It also adopts an international comparative perspective in order to highlight how different economic systems and structures, influence economic and business performance, market environment and thus corporate strategies. MBA 612 FINANCIAL & MANAGERIAL ACCOUNTING This course aims to give students a general overview of financial and management accounting theory and practice. It assumes that students have a basic knowledge of the techniques covering financial accounting and in particular the following topics: double entry, the accounting cycle, main financial statements and preparation of the Financial Statements. Therefore, the topics that will be covered will be Cash flow statements, analysis of financial statements, issues related to contributed capital (legal capital, preferred stock, treasury stock, stock splits, etc.), and income and changes in retained earnings (earnings per share, dividends, and statement of changes in stockholders equity). In the second half of the course, students will address Management Accounting covering Planning and Control, Short-term Decision Making, Strategic Management Accounting and the Management of Working Capital and Sources of Finance. MBA 622 FINANCIAL MANAGEMENT This course addresses the principles, concepts and practices of corporate financial management, and the theories and applications underlying the financial decision making process. Topics covered include the agency theory, valuation, capital structure and cost, capital budgeting, corporate bankruptcy, working capital management, dividend policy, and mergers and acquisitions. 18
MBA 667 STRATEGIC MARKETING This core course aims to provide students with a comprehensive knowledge basis in the field of marketing, including its philosophy, application and strategic context. The course describes the leading theories and models that are used to explain key concepts in strategic marketing and identifies the external and internal forces that impact upon the choices involved in the development, production and distribution of goods and services. The course additionally cultivates the skills and competencies required towards strategic marketing planning, with various tools and processes being presented both as a theoretical basis and in their practical application framework. The students are finally taught how to practically integrate theory with practice towards the development of a strategic marketing plan. MBA 685 CORPORATE STRATEGY Managers face no greater challenge than that of strategic planning and strategic management. Guiding a complex organisation through a dynamic, rapidly changing environment requires the best of judgment. Strategic planning issues are invariably ambiguous and unstructured, and the way in which management responds to them, determines whether an organisation will succeed or fail. In this capstone course students will be asked to face the aforementioned challenges. They will become familiar with the strategic planning process in the for-profit, nonprofit sectors, within the context of the global aspects of strategy. MBA 670 OPERATIONS AND QUALITY MANAGEMENT The course examines the basic elements of operations management with particular focus on inputs and suppliers, process and capacity planning, forecasting, inventory management, product and project management, implications of globalisation, and the issue of quality and competitiveness. Emphasis is placed on demonstrating how the operations function can support business strategy. 19
SPECIALISATION PATHS MANAGEMENT MBA 701 ORGANISATIONAL BEHAVIOUR Introduces MBA students to the importance of effective design and management of organisations through, the thoughtful application of knowledge concerning the behaviour of people in the workplace. The emphasis is on the human actor who is central to organisational effectiveness and success. The course focuses on developing professional competencies related to topics such as motivation, communication, leadership, group and team work, organisational change design, culture and change and occupational stress. MBA 703 BUSINESS ETHICS How do people live their lives according to a standard of right or wrong behaviour? The concepts of business ethics are examined, where employees face the dilemma of balancing their own moral standards with those of the company they work at. Should the business world be viewed as an artificial environment, where the rules by which you choose to live your own life don t necessarily apply? MBA 705 CONSULTANCY PROCESS The course is designed to make students reflect on the process of working as a consultant and develop a personal vision on the role of a process consultant. Furthermore, this course aims at developing understanding and skills in handling sensitive issues in consultancy, such as building trust, ethical problems, ensuring implementation and overcoming resistance to change, as well as developing skills in acting as a facilitator in team-building. Furthermore, this course aims to develop understanding and skills in the various 20 aspects of managing a consultancy firm and consultancy assignments. MBA 706 MANAGING CORPORATE CHANGE This course s focus is on the management of change in contemporary organisations. The information presented will cover the theories, models, methods and techniques used by change agents to bring about positive change within organisations. Here, the primary emphasis will be on: (1) an open systems model of organisation; (2) an action research framework for change agent (consultant) engagement, (3) the interrelated methods and associated techniques of organisational development, total quality management, and business process re-engineering, and (4) complementary tools, techniques and future trends. MBA 707 ENTREPRENEURSHIP AND SME S The course aims at demystifying the process of starting a business by presenting difficult business concepts in a manner that can be assimilated by the small business entrepreneur. Students will learn how to start a small business, operate a small business and turn their ideas into viable business opportunities. MBA 708 SUPPLY CHAIN MANAGEMENT This course examines all issues related to Supply Chain Management. Topics include purchasing, vendor relations, inventory strategies and control, warehousing, material handling, layout planning, packaging, and transportation, combined under supply chain management general aspects. Students will gain applied experience through lectures, problem sets and case studies.
MBA 709 MANAGEMENT SCIENCE This course aims to introduce students to Management Science - a scientific approach that uses rational analysis and objective reasoning to help managers make better and faster decisions. The course covers a range of management science methods and explains how managers can put their problem solving and decision making on a scientific, logical and rational basis. The course concentrates on applications rather than theory and its topics are described by examples, with complex theoretical argument having been kept to a minimum. In today s complex business environment, firms are required to process ever-increasing amounts of information and operate under fierce competition. These challenges create a growing demand for managers who possess the technical and analytical skills required to exploit the available resources and to improve business performance. 21
SPECIALISATION PATHS MARKETING MBA 711 RELATIONSHIP MARKETING Students develop skills in planning, constructing and organising one-to-one client marketing activities as part of organisational strategic marketing. Included in these activities are collaborative relationships between consumers and sellers that can be applied by both small and large organisations. New technologies in interactive marketing and in database creation and implementation are studied through case analysis and application. MBA 712 MARKET RESEARCH Students are taught theories and techniques of planning, conducting and presenting market analyses, sales and market potential, sales forecasts, distribution options, marketing cost and profit projections, and major market product and advertising studies. The course helps the MBA student develop and practice through appropriate case studies an understanding of how to apply theory to specific marketing problems. MBA 713 CONSUMER BEHAVIOUR The course promotes an understanding of consumer decision processes developed through appropriate applications of behavioural sciences. Consumer decision making processes are further considered in the context of environmental and cultural dimensions. The implications of these processes are also considered in relation to product position planning, marketing organisational strategies, and decisionmaking in strategic market planning. MBA 716 MARKETING OF SERVICES The course is designed to deepen the conceptual and practical understanding of the broad range of issues challenging the marketing manager of a service organisation; to sharpen the understanding of the strategic differences, both of theory and application, of service marketing; to broaden the appreciation of initiatives and experiences in the service sector; to encourage critical evaluation of these experiences and initiatives in the light of conceptual issues in both home-country and global conditions; and to appreciate and utilise the considerable relative weight of people as a primary factor of success in the majority of service organisations. MBA 717 CORPORATE SOCIAL RESPONSIBILITY The course aims to provide the students with a comprehensive understanding of the Societal Concept of Marketing. Major emphasis is placed on corporations stakeholders, ethics and public policy. Strategies like Corporate Social Responsibility, Corporate Citizenship, Green Marketing and Corporate Philanthropy are analysed through a critical theoretical approach, case studies and other means of developing the required knowledge and understanding of the subject. Students will understand the need for Marketing Managers to create marketing strategies which can integrate stakeholder interests, respect personal values, support community development and at the same time to be economically successful. 22
MBA 718 MARKETING COMMUNICATIONS The course deals with both the theoretical background and the practical skills necessary for the management of an organisation, its need to communicate strategically and effectively in the contemporary media context, which is part of the corporate world today. It focuses on the tasks of the specific communication subjects of Public Relations, Promotion & Advertising. The student is taught how to practically apply methods and communication skills in ways which enhance the dynamic functioning of a corporation in a competitive market, while creating and maintaining a strong image internally and externally, within the general organisational marketing strategy. MBA 719 GLOBAL MARKETING The course teaches the general principles of marketing as related to global markets, including foreign market entry, local marketing and its contribution to global business management. Furthermore, it is designed to develop the students theoretical understanding of strategic market planning through the process of case study and simulation of company decision-making processes. 23
SPECIALISATION PATHS FINANCE MBA 721 PORTFOLIO ANALYSIS Management of an investment portfolio under conditions of uncertainty, and choice of strategies to balance performance and risk. Portfolio objectives of individuals, corporations and funds, and practical and theoretical problems associated with the techniques of optimal portfolio selection, construction and revision. Measurement of portfolio performance and related empirical evidence. Role of computers in portfolio management. MBA 722 FINANCIAL MARKETS & INSTITUTIONS Understanding the function of financial markets, the flow funds, levels of interest rates and interest rate differentials, and analysis of the institutional framework. Characteristics and efficiency of the money markets and capital markets and types of instruments issued. International integration of financial markets and institutions and policy implications. MBA 723 FINANCIAL RISK MANAGEMENT Identification of financial risk and design of optimal risk management programme. Financial instruments used for financial risk management, including forwards, futures, options and swaps. Topic areas covered include interest rate futures, stock index futures, currency futures, international financial futures, commodity futures, stock and stock index options, options on futures, swaps, and financial engineering products. MBA 724 GLOBAL FINANCIAL STRATEGIES The Global Financial Strategies course deals with the theoretical and empirical aspects of the strategic financial environment and management of firms that operate in a global business arena. Multi- National Enterprises (MNEs) and TransNational Corporations (TNCs) are the prime concern of this course. The course aims at developing a body of knowledge, practices, attitudes, and skills, needed to make financial decisions for topics where Corporate Finance leaves off. MBA 726 WORKING CAPITAL MANAGEMENT Analysis of long- and short-term resource allocation strategies used by corporations. The course covers working capital management, including but not limited to cash management and inventory management models, and combines theory and application. Furthermore, it analyses intermediate theories and techniques of cash, accounts receivable, inventory, and accounts payable management. MBA 727 CORPORATE GOVERNANCE The MBA students will be exposed to the concept of corporate governance as a new approach for enhancing the return on capital through increased accountability and transparency of the Board and Management of a corporation. The course will address not only the history and evolution of corporate governance but also such contemporary issues like executive pay and Board composition. 24
MBA 728 ADVANCE CORPORATE FINANCE Corporate finance is the specific area of finance dealing with the financial decisions made within corporations and focuses specifically upon the tools and analysis used to make such decisions. The corporation s value is enhanced when the return on long term capital exceeds its cost managing at the same time efficiently and effectively the corporation s working capital. Corporate finance therefore, is essential to safeguard the maximisation of return to the invested funds in a corporation. 25
SPECIALISATION PATHS MANAGING INFORMATION SYSTEMS (MIS) MBA-730 E-BUSINESS The course examines the impact of Web and Web 2.0 technologies on marketplace transformation, business process redesign, and management approaches to e- commerce, with an emphasis on businessto-consumer and business-to-business applications. Class sessions will be based on an in-depth discussion of actual case studies that cover several industries and business sectors in different countries. MBA-733 WEB DESIGN AND DEVELOPMENT This course aims to provide an understanding of the business aspects of Wed Sites Design. In this course, the fundamentals of Usability Engineering are presented and best practices, possibilities and implementations are explored. A structured approach to develop Customer Centred Web Sites is followed. A comprehensive set of design patterns that offers proven solutions to common Web design problems is studied. Students apply these concepts in the design and development of a web site using a Content Management system. MBA-735 BUSINESS DATA COMMUNICATION AND SECURITY This course aims at assisting students acquire the computer networking knowledge as well as the existing connectivity technologies and the required infrastructure which comprises the key steps involved in the communication process. It aims to establish a solid knowledge of the layered approach that makes design, implementation and operation of extensive networks possible, acquire the knowledge of the basic protocols involved in wired/ wireless communication process, link different network performance concepts and traffic issues for Quality of Service (QoS) in broadband communication as well as the network economics of the enterprise and provide students with basic knowledge on various concepts of classical computer and network security paradigms. MBA-736 ENTERPRISE INFORMATION SYSTEMS The course aims to enable student understand issues, problems and opportunities that senior managers and Chief Information Officers (CIOs) face today in organizations and enable them to refer to conceptualized principles and applied techniques and tools to efficiently address them. The main objective of this course are to describe and apply conceptual tools used to examine the efficiency and effectiveness of the management of business processes, introduce Enterprise Information systems (EIS) to students, extend students knowledge on EIS concepts and definitions and provide them with hands on experience by using an EIS system. MBA737 KNOWLEDGE MANAGEMENT This course examines the analytical, managerial and technological approaches used in the practice of knowledge management. It introduces and critically examines the major knowledge management approaches, such as tacit-to-explicit conversion spirals, data mining, data visualisation, and collaborative strategies. Economic and social issues in the creation and transfer of knowledge are examined. Best knowledge management practices in core processes, such as customer support and supply chain 26
management, and specific industry contexts are discussed. MBA-738 I.T. PROJECT MANAGEMENT This course examines all issues related to managing IT projects within an organisational context, including the processes related to initiating, planning, executing, controlling, reporting, and closing a project. Project integration, scope, time, cost, quality control, and risk management are also outlined. Students develop detailed project plans, schedules, and budgets; estimate project resources; allocate/coordinate resources; and interface with management using a project management software. MBA-739 BUSINESS INTELLIGENCE The course aims to provide students with conceptual and practical Business Intelligence skills that will equip them with a competitive edge in almost any contemporary workplace. This course aims to examine data mining aspects including data capturing, cleansing, validation, storage and analysis. Ultimately, the student will be able to organise and manage a Business Intelligence unit for his/her organisation. 27
SPECIALISATION PATHS HUMAN RESOURCE MANAGEMENT (HRM) MBA 741- HR & ORGANISATIONAL DEVELOPMENT This course focuses on how to diagnose an organisation and create an intervention to improve it, build knowledge and provide practice in the various techniques, explore how the structures of organisations influence career development and success, discuss how topics such as power, opportunity, mobility, discrimination, social and human capital, control systems and organisational forms affect decisions, actions and opportunities and provide students with a background and perspective that will help them develop successful career strategies. MBA 742 MANAGING PERFORMANCE This course explains the use of strategic aspects of performance management, discusses how performance improvement is achieved throughout the organisation, for individual, team and organisational effectiveness, evaluates how the continuous development of individuals and teams will enhance performance which can be achieved by ensuring that individuals are encouraged to behave in a way that allows and fosters better working relationships. MBA 743 EMPLOYEE RESOURCING This course provides an in depth analysis of the methods used in staffing and selection processes, investigates the processes of designing, administering, revising, and evaluating selection programmes that comply with government regulation as well as add value to the organisation. It also helps students to evaluate the sources available to organisation for recruitment in order to assess the most effective ones, develop recruitment strategies to reduce staff turnover and thus reduce costs, develop and utilise strategies to achieve work-life balance, and thereby improve performance in the workplace, develop equal opportunities strategies in recruitment and selection so as to make best use of the diverse talent pool available, ensure that resource strategies match overall organisational strategies and evaluate the tools which are used during the recruitment and selection process. MBA 744 LEADERSHIP & INNOVATION The course focuses on leadership from a managerial perspective, explores leadership models, becomes acquainted with current research finding, investigates examples of leadership in practice and engages in developmental activities to evaluate and enhance their leadership skills. Students are assisted in identifying the diverse, contemporary leadership competencies utilised in organisational setting, developing strategies which can exploit the ability to think outside the box in order to solve problems effectively, utilising and developing their emotional intelligence for better results both at work and in their personal life, identifying the conditions that both nurture and prevent innovation and creativity, in order to develop strategies to overcome any likely blockages to creativity and innovation and utilising a variety of techniques in order to unblock the elements which prevent innovation and creativity, at both individual and group level. 28
MBA 745 EMPLOYMENT LAW The course acquaints the student with the fundamentals of employment lows and discriminatory practices, inherent in all areas of employment, emphasises the legal procedures for recruiting, hiring, promoting, evaluating, using progressive discipline and dismissing employees. Laws and appropriate company policies on issues such as Antidiscrimination, Sexual Harassment, and Termination & Arbitration will be discussed and viewed through the use of case studies. The students are coached to explain how employment laws and statutes are formulated, describe the role of Tribunals and Employee Appeals procedures, explain the role of law in all phases of employment; discrimination; health and safety; termination of employment; privacy, analyse and explain how different development in employment law have impacted on the relationship between the employer and the employee and develop the ability to interpret case decisions as an aid for managers to avoid potential legal pitfalls. MBA 746 MANAGING DIVERSITY IN ORGANISATIONS The course aims to teach students to adapt successfully to the demographic changes rapidly occurring in the workplace, create individual awareness of the issues of diversity and how to cope with them effectively, organise work based on an understanding of the impact of diversity in relation to group dynamics, values, motivation, conflict management and communication styles. Upon completion of the course students should be able to collect and analyse data for the purpose of resolving issues directly related to diversity in organisations, develop skills and competencies of an intrapersonal and interpersonal nature so as to better cope with the diverse work place, analyse the influence of their own background on behaviour and develop sensitivity to others, critically evaluate the nature and effects of preconceptions and prejudices and their own use of the two concepts and confidently interact with others in a number of organisational settings. MBA 747 EMPLOYEE RELATIONS This course aims to provide an in depth examination of human resource management in the context of union-management relations, emphasise how and why unions form, the legal context, an changing competitive environment for labour management relations and cover the dynamics of the collective bargaining process including the determinants of bargaining power, preparation of labour contract demands, the examination of union-management relations and negotiation tactics. It assists students to critically analyse and explain the process of collective bargaining and use a variety of conflict resolution techniques for ending deadlocks during negotiations, explain how changes in competitive environment have created the need for changes in the traditional unionmanagement relationship, determine the reasons for unionisation and the likely impacts in the workplace, critically analyse and explain the psychological contract within the context of employee relations and investigate and analyse the trends and future developments of employee/ employer relations and relationships. 29
INTERGRATION MBA 890 RESEARCH METHODOLOGY This course aims to develop and extend students knowledge of quantitative and qualitative research methods as well as facilitating their understanding and ability to apply the key methodological principles in the design of different types of research. The lecture sessions examine the relationship between measurement, theory construction and testing through the principal methods of data collection and their applications. MBA 899 FINAL THESIS This is a Thesis of theoretical or empirical research undertaken on a business topic in the student s area of concentration on the MBA Programme. This is expected to be an independent research study by the MBA Candidates on a topic of their own choice. Subsequent to the approval of such a Thesis Proposal, a Thesis Supervisor is appointed from among the MBA Faculty members of The University of Nicosia to work closely with the MBA Candidate. The Thesis may be in the form of an academic or a scientific (publishable) paper at an appropriate graduate level. The ultimate objective of this requirement is to test the ability of the MBA Candidate to select a problem, set up a framework for it and analyse it in an academic perspective so as to end up with meaningful recommendations in the end. The paper requires significant focus on a business issue viewed through academic thought and research, and presented in the proper writing style. The MBA Thesis is not to be a description of a situation, but an analysis and evaluation of a problem with specific recommendations given based on a combination of research and original thinking. 30
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ACADEMIC POLICIES AND REGULATIONS The Academic Year The University of Nicosia academic year follows the American system of higher education and is divided into semesters. An Academic Year consists of three main semesters (Fall, Spring, Summer), of 15 weeks duration. Each semester or session commences with students registering for a number of courses, and concludes with the two examination weeks covering all of these courses. Evaluation of Performance Continuous evaluation of student performance is undertaken throughout the programme. This includes evaluation of oral presentations, group projects, written reports, tests, and participation in written examinations. Transfer Credits Students who wish to apply for transferring credits earned at another Graduate Programme must submit along with the application for transfer credits, a course syllabus (preferably), or course description of the coursework previously completed, and the appropriate Transcript. Grading System At the end of each semester and summer session, final grades are mailed to all students at their permanent or mailing addresses and are recorded on their permanent record files in the Registrar s Office. The following grades are used: Percentage Grade % 93-100 90-92 87-89 83-86 80-82 77-79 73-76 70-72 67-69 63-66 60-62 0-59 Letter Grade A A- B+ B B- C+ C C- D+ D D- F Grade Points 4.0 3.7 3.3 3.0 2.7 2.3 2.0 1.7 1.3 1.0 0.7 0.0 32
ADMISSION REQUIREMENTS MBA ADMISSION POLICY The following admission requirements must be satisfied for a student to be admitted: 1. An accredited Bachelor s degree (European, American or equivalent) is required for admission to the MBA programme. 2. Proficiency in English Students satisfy the English requirements if their first degree was taught in English. Otherwise, they would need to present at least a TOEFL score of 550 paper-based or 213 computer-based, or GCSE O Level with C or IELTS with a score of 6.5 or score placement at the ENGL-100 level of the University of Nicosia Placement Test. The University of Nicosia offers English courses at various levels to help students reach the required standard for admission. 3. Standardized Test Scores The Graduate Management Admission Test (GMAT) is required of all students with a minimum score of 400. Students with a CPA of 2.5 or higher on the 4-point system or 2.2 for UK standards or equivalent, or three years of professional experience will be exempted from the GMAT. A candidate without the GMAT may be provisionally admitted and be allowed to take the Foundation courses but such students will be accepted as MBA students only upon submission of the GMAT score as stated above. 4. Academic Background Applicants with a non-business background can be admitted into the programme but they may have to take preparatory foundation courses. 5. It is recommended that applicants have previous working experience. Personal qualities such as motivation, character and leadership play a significant role in the admission process 6. Letters of Recommendation Two recommendation letters from persons who have known the applicant in his/her educational and professional environment are required. 7. Individual Interviews is the standard practice for all students. The interviews elicit motivation, leadership, potential and personal mission. In special cases, where interviews are not possible, written evidence and data on the applicant s past work experience, maturity and personality are assessed to the best possible degree. PERIOD OF STUDY This is an intensive study programme which requires 24 months of work. There are two intakes to the programme, September and January. Students may commence their studies at either of these two intakes. 33
APPLICATION/REGISTRATION Upon request, an MBA application package will be sent to candidates. Alternatively application packages may be obtained from the University or our international representatives. The package includes an MBA Handbook, an MBA application form and two pre-set letters. One of the recommendation letters should be completed and signed by one faculty member of the institution where the candidate obtained his/her Bachelor s degree and the other one from his/her current employer. Student applications and all supporting documents must be in English or Greek. Original Documents in a language other than English or Greek must be furnished in a certified translation copy, together with a Notarised Statement as to its association to the original. Additionally, candidates must bring along all original documents to the University for visual verification and return. For Local MBA Students - Completed MBA Application Form - Bachelor s Degree or equivalent qualification - Academic Transcript/Grade Report - Other certificates or examination results - TOEFL/GCE/GCSE/IELTS results - GMAT results - Two Reference Letters (From Academic and Professional Referees) - Four recent passport-size photos - Curriculum Vitae - Personal Statement 34
For International MBA Students - Completed MBA Application Form - Bachelor s Degree or equivalent qualification - Academic Transcript/Grade Report - Other certificates or examination results - TOEFL/GCE/GCSE/IELTS results - GMAT results - Two Reference Letters (From Academic and Professional Referees) - Four recent passport-size photos - Application 55 (non-refundable) - Visa Fee 86 (non-refundable) - Bank Statement of Financial Support - Certificate of Good Conduct - Passport Copies (6 first pages) - Curriculum Vitae - Personal Statement - Medical Report The Office of Admissions will not process any Application for Admission unless all required documents, as listed above, are submitted. 35
ΤΗΕ MBA GRADUATES Students of The University of Nicosia programme are ambitious people and they come from different areas of private interest and organisations within government and industry. Companies and organisations that have sponsored MBA students in the past include: Royal Dutch Airlines, Revlon, Tradex, Cyprus Telecommunication Authority, Cyprus Electricity Authority, Air Trans, Cybarco, Demstar, Addidas. The University of Nicosia MBA provides students with a rigorous academic challenge united with a rich personal development experience. The community of dedicated faculty and engaged students allow for invaluable mentoring and teamwork opportunities. The smaller class sizes afforded students the opportunity to connect with instructors more easily. The professors push hard toward the application of the material through research and presentation of results and impact. In my current position, this has been critical to my day-to-day achievements, but also in my career and in positioning myself for overall success, the MBA program at UNIC has been invaluable. If you asked me what I am using in my current position that I learned in the UNIC MBA program, I would respond, what am I not using! Kyriacos Kyriakides, Manager, After Sales Service, Demstar Automotive Ltd Nicosia, Cyprus. Moving into a broader leadership role demanded a deeper understanding of business, finance and strategy. In many respects I thought it would be just these aspects that would benefit me on the MBA, but I was surprised to find that the people and leadership aspects of the programme were exceptionally rewarding and really grabbed me. I began to appreciate the importance of understanding oneself in order to lead others as well as understanding the important human elements for success as a leader such as empathetic listening. 36 Petros Petrou, Marketing Director, Dias Group, Sales Manager, Sigma TV, Nicosia, Cyprus.
My MBA journey has been a journey full of experiences both academic and personal. I have been inspired and challenged by the MBA professors, who have gained my admiration and respect. My MBA experience eliminated cultural, ethnic, professional backgrounds and life patterns differences, developed valuable friendships and exposed me to a vast opportunity of networking. Obtaining an MBA from the University of Nicosia, is an invaluable investment for life because you do so through the search for objectivity, the support of hypothesis, the critical review of literature and most of all the enrichment of your knowledge. My MBA has not only made me a better professional by providing me with better skills but has also allowed me to develop as a person and maximize my potential in life. Maria Tsangari, Commercial Finance Manager, Ermes Department Stores Plc, Nicosia, Cyprus. The MBA program provided me with a personalized education, complete with practical knowledge that easily conveyed to real world business situations. The extensive case study work teaches the MBA student how to work in a team environment. I gained a tremendous amount of practice in speaking in front of groups, which has served me well in my career. The University of Nicosia MBA provided me with very specific technical knowledge and the ability to take on special projects in my career. Fadi Hamra, Public Relations Director and Financial Controller Embassy of the State of Quatar, Nicosia, Cyprus. 37
FACULTY Dr. Charitou Melita, Assistant Professor Ph.D, Accounting & Finance, Middlesex University, U.K. M.Sc, Financial Management, Middlesex University, U.K. Dr. Christodoulides George, Consultancy Unit D.Sc., Management of Technology and Education, City University, U.K. M.Sc., Systems and Automation Engineering and Management, City University, U.K. B.Sc., Mechanical Engineering, London University, U.K. Christou Marios, Associate Lecturer Ph.D (Cand), University of Bradford, U.K. MBA, Accounting & Finance, Maastricht School of Management, The Netherlands Postgraduate Diploma in Financial Strategy, Said Business School, University of Oxford, U.K. B.A., Economics and Econometrics, University of Reading, U.K. Dr. Constanti Panayiotis, Assistant Professor D.Prof., Educational Management, Middlesex University, U.K. M.Sc., International Hotel Management, Oxford Brookes University, U.K. Diploma, Hotel Management, City College Norwich, U.K. HCIMA Diploma 38
Dr. Demetriou Marlen, Assistant Professor Doctorate in Professional Studies, Middlesex University, U.K. MBA, Marketing, RVB College, Maastricht Postgraduate Diploma in Management, Mediterranean Institute of Management B.Sc., Business Administration, Deree College, Greece Dr. Georgiadis Dimosthenis, Visiting Lecturer Ph. D., Computer Science, University of Cyprus M.Sc., Advanced Internet Technologies, University of Cyprus B.Sc., Computer Science, University of Cyprus Dr. Germanakos Panagiotis, Assistant Professor Ph.D., Web Adaptation & Personalisation Environments, National & Kapodistrian University of Athens, Greece M.Sc., International Marketing Management, Leeds University Business School, U.K. B.Sc., Computer Science, University of Nicosia, Cyprus HND, Computer Studies, Higher Technical Institute, Cyprus Dr. Hadjidakis Spyros, Associate Professor Ph.D., Economics, University of Reading, U.K. M.A., Contemporary European Studies, Graduate School of European and International Studies, University of Reading, U.K. B.A., Economics, Deree College, Greece 39
FACULTY Karamanos Neophytos, Visiting Faculty Ph.D (Cand), in Professional Studies, Middlesex University, U.K. MBA, Henley Management College, U.K. M.Sc., Electrical Engineering, Washington University, U.S.A. B.Sc., Electrical Engineering, Washington University, U.S.A. B.Sc., Computer Science, Washington University, U.S.A. Dr. Kartakoullis Nicos, Professor Ph.D., Sports Management, University of Southampton, U.K. M.Sc., Sociology of Sport and Sports Management, University of Leicester, U.K. MBA, Hospitality and Tourism Management, University of Leicester, U.K. M.A. (Ed.), University of Southampton, U.K. B.Sc. (Hons), Health and Human Performance, Michigan State University, U.S.A. Dr. Kaufmann Hans Ruediger, Associate Professor Ph.D., Marketing, The Manchester Metropolitan University, U.K. B.A., Business Administration, University of Applied Sciences, Germany Kogetsidis Harry, Associate Lecturer M.Sc., Operational Research, London School of Economics and Political Science, U.K. B.Sc. (Hons), Computer Science with Management Science, University of Luton, U.K. 40
Dr. Kokkinaki Angelika, Associate Professor Ph.D, Computer Science, University of Louisiana at Lafayette, LA, U.S.A. M.Sc., Computer Science, Northeastern University, MA, U.S.A. Diploma (5 years curriculum), Computer Engineering and Informatics, Patras University Dr. Koutsoulis Michalis, Assistant Professor Ph. D. St. John s University, Jamaica, New York Master of Sciences in Education, John s University, Jamaica, New York Master in Business Administration, University of Nicosia, Cyprus BS. Physical Education, Aristotelian University of Thessaloniki Department of the Sciences of Physical Education and Athletics Dr. Ktoridou Despo, Associate Professor Ph.D., Computer Engineering (Intelligent Expert Systems), Saint Petersburg Electrotechnical State University, Russia M.Sc., Computer Engineering, Saint Petersburg Electrotechnical State University, Russia B.Sc., Computer Engineering, Saint Petersburg Electrotechnical State University, Russia Dr. Lois Petros, Associate Professor Ph.D. Maritime Studies, Liverpool John Moores University, U.K. M.Sc., Accounting & Finance, De Montfort University, U.K. 41
FACULTY Dr. McRoy Ian, Assistant Professor D.Prof., Change Management, Middlesex University, U.K. MBA, Henley Management College, U.K. B.Ed. (Hons), Manchester University, U.K. Cert. Ed, Manchester University, U.K. Dr. Melanthiou Yioula, Lecturer Ph.D., Marketing, University of Manchester, U.K M.Sc., Marketing, University of Salford, U.K BA, Marketing, Cyprus College, Cyprus Dr. Michailidis Maria, Associate Professor Doctor of Educational Leadership, University of Massachusetts, MA, U.S.A. M.A., Social Psychology, University of Massachusetts, MA, U.S.A. M.A., Clinical Psychology, University of Indianapolis, Indiana, U.S.A. B.A., Management, University of Masachusetts, MA. U.S.A. Morphitou Ria, Associate Lecturer MBA, Maastricht School of Management, Maastricht B.Sc., Marketing, West Virginia University, U.S.A. 42
Dr. Papasolomou Ioanna, Associate Professor Ph.D., Marketing Management, Keele University, U.K. M.Phil., Marketing Public Relations, Keele University, U.K. MBA, Keele University, U.K. Postgraduate Certificate in Teaching & Learning in Higher Education, Keele University, U.K. Dr. Pavlou Pavlos, Assistant Professor Ph.D., Management Science, Salford University, U.K. B.Sc., Mechanical Engineering Science, University of Leeds, U.K. Dr. Phellas Constantinos, Professor Ph.D., Sociology, University of Essex, U.K. M.Sc., Advance Social Research Methods and Statistics, City University, U.K. M.Sc., Management Science of Operational Research, University of Warwick, U.K. B.Sc., Mathematics, University of Essex, U.K. Dr. Pouyioutas Philippos, Professor Ph.D., Computer Science, University of London, U.K. M.Sc., Databases and Information Systems, University of London, U.K. B.Sc., Computer Science, University of London, U.K. Cert. Ed., Teaching and Learning in Higher Education, University of North London, U.K. 43
FACULTY Dr. Roussakis Emmanuel, Visiting Professor Ph.D., Economics, The Catholic University of Louvain in Louvain, Belgium Graduate Certificate in Advanced European Studies received from the University of Europe in Belgium MBA, Management, Atlanta University in Atlanta, Georgia, U.S.A. B.A., Major : Economics, Minor : Law, University of Athens, Athens, Greece Dr. Sapuric Svetlana, Lecturer Ph.D., Finance, CASS Business School, City University, London, U.K. M.Sc., Investment Management, CASS Business School, City University, London, U.K. Postgraduate Certificate in Teaching & Learning in Higher Education, CASS Business School, City University, London,U.K. B.A.(Hons), Business and Economics, University of Kent at Canterbury, U.K. Dr. Theophanous Andreas, Professor Ph.D., Economics, The Pennsylvania State University, U.S.A. M.A., Economics, The Pennsylvania State University, U.S.A. B.A., Economics and Political Science, Susquehanna University, U.S.A. Dr. Thrassou Alkis, Associate Professor Ph.D., Strategic Marketing Management, University of Leeds, U.K. B.Eng, Mechanical Engineering Science, University of Leeds, UK. 44
Dr. Tsaklanganos Angelos, Professor Ph.D., Quantitative Analysis, Management and Managerial Accounting, Stern School of Business, New York University, U.S.A M.A., Economics, New York University, Graduate School of Arts and Science, U.S.A MBA, Quantitative Analysis, Stern School of Business, New York University, U.S.A B.Sc., Business Administration, School of Business and Economics, Athens, Greece Dr. Tsangari Haritini, Associate Professor Ph.D., Statistics, The Pennsylvania State University, U.S.A. M.Sc., Statistics, The Pennsylvania State University, U.S.A. B.Sc., Mathematics and Statistics, University of Cyprus Dr. Turner Geoff, Associate Professor Ph.D., Accounting, The University of Kent at Canterbury, U.K. MBA, The University of South Australia, Australia B.A., Accountancy, The University of South Australia, Australia Diploma, The Bankers Institute of Australasia, Australia Dr. Vassilopoulos Petros, Visiting Lecturer Ph.D., Logistics-Supply Chain Management, London Metropolitan University, U.K. Postgraduate, Port and Shipping Administration, Cardiff University, U.K. Postgraduate, Management Studies in Shipping, Plymouth University, U.K. Fellow of the Institute of Freight Forwarders (FIFF), U.K. Fellow of the Chartered Institute of Logistics (FCIL), U.K. 45
FACULTY Dr. Vrontis Demetris, Dean of the School of Business, Professor Ph.D., Marketing, Manchester Metropolitan University, Business School, U.K. MBA (Distinction), The University of Hull, U.K. Postgraduated Certificate in Education (Higher Education), Manchester Metropolitan University B.Sc. (Hons), Business Studies, Manchester Metropolitan University, U.K. 46
University of Nicosia 46 Makedonitissas Avenue P.O.Box 24005 1700 Nicosia - Cyprus Tel: +357-22841671 Fax: +357-22813531 Email: mba@unic.ac.cy Website: www.unic.ac.cy