Business Administration with Shipping
(Master, 13 months FT/26 months PT)

LIMASSOL

What is an MBA?

The MBA programme was developed originally in the United States and soon afterwards was introduced in the UK. It continues to grow in reputation and demand as the business world’s top degree, while it has recently also branched out into specialisations – such as shipping. With the growing internationalisation of the world economy, an increasing number of companies and organisations now require top managers to have MBA Degrees, and that includes the shipping industry.

Why the CIM MBA with Shipping?

As one of the first higher education institutions in Cyprus to offer Shipping, and on the back of two very successful undergraduate programmes in shipping, it was only a matter of time before CIM introduced its MBA with Shipping. International shipping has always been critical to the development of world trade, and Cyprus has always profited from it. The inter-relationships between falling transportation costs, economic growth and globalisation in the twentieth century have made shipping one of the most profitable and exciting occupations. The CIM MBA with Shipping considers trading patterns and shipping organisation in their legal, financial and managerial context.

The course delivers a comprehensive and integrated overview of the core subjects essential to a thorough understanding of business administration and shipping management. It will develop your generic business skills whatever your background or career stage and it will enhance your critical analytical skills. Further, the interdisciplinary nature of the programme will prepare you to be a future professionals who can function effectively in the complex business environment of the global marketplace. The diversity of supporting activities within the highly dynamic trade and maritime industry and its various sectors, consisting of many hundreds of large, medium and small firms, makes this choice possible.

Aims:

The specific objectives of the MBA in Shipping, are that the students:
  • Develop the intellectual skills necessary to contribute to developing strategies for the direction of international transport and trade;
  • Become familiar with the main theories and practices of international shipping, transport and trade;
  • Learn to identify and critically analyse the structures and institutions of managing and organising sea transport;
  • Fully grasp the import of the economic and regulatory institutions and practices of trade and transport.

Outcomes:

Upon successful completion of this program, the students should be able:
  • To demonstrate a comprehensive knowledge and understanding of the structures, processes and institutional practices of trade and shipping in the global marketplace.
  • To act as fully developed professionals who are capable of developing, implementing, and promoting activities relevant to international trade and shipping management, as well as the interaction of these with the world economic and financial systems.
  •  To demonstrate appropriate knowledge, research background and tools.
  • To establish collaborative networks with other universities for the promotion of research and academic dialogue through student and academic staff exchange programs, as a means of acquiring experience, achieving effective exploitation of research results, good practice examples and innovation.
  • To strengthen the communication and information exchange channels among working groups, universities and other centers who study trade and transportation issues, locally, peripherally, and globally.

Subjects Taught:

Compulsory Subjects
  1. Strategic Management
  2. Organisational Behaviour
  3. Research Methods
  4. Maritime Economics, Finance & Accounting
  5. Maritime Law & Marine Insurance
Optional Subjects (Choose 1)
  1. Shipbroking & Chartering Practice
  2. International Trade & International Marketing
  3. Maritime Logistics
Note: The above optional subjects are subject to availability and student demand

Full-Time (13 months)

The programme is made up of 6 subjects, 5 of which are compulsory and 1 optional.

Part-Time (24 months)

The programme is made up of 3 subjects every year.

Year 1:
  1. Strategic Management
  2. Organisational Behaviour
  3. Maritime Economics, Finance & Accounting
Year 2:
  1. Research Methods
  2. Maritime Law & Maritime Economics
  3. Option 

Duration

Full-Time: 13 months
Part-Time: 24 months

Commencement

Classes commence in October and January.
The academic year for a October start runs from October to May, when the final exams take place. From June onwards, students work on their thesis, which must be submitted in November. The academic year for a January start runs from January to August, with final exams conducted in September. The thesis in this case must be submitted by February of the following year.

ECTS

Each subject is worth 12 ECTS and the thesis is worth 18 ECTS thus a total of 90 ECTS for the whole programme.

Assessment

All subjects have 2 components for assessment:
  • Two Assignments worth 40% (December & April)
  • Final Examination worth 60% (June)
    The pass mark is 50%

Entry requirements

Entry requirements are flexible and are based on a candidate’s proven academic ability, motivation, experience as a manager or business executive and an assessment of the benefits that he or she is likely to derive from the programme. The usual minimum requirements are:

(i) A Recognised Bachelor's Degree 
AND
(iv) 3 years work experience 
AND
(v) IELTS 6.5 or equivalent

Dissertation

A key requirement of the MBA with Shipping is a Dissertation of 10,000 words, which must be submitted by November. The Dissertation must be of satisfactory standard and must contain original research work. Students may be required to present and defend their work to an examining panel. The 10,000-word Dissertation is a major part of the MBA with Shipping and a student not submitting an up-to-standard thesis will not be awarded the degree. The Dissertation must be on a pre-agreed topic (agreed with the student’s tutor) and should have a research bias. Students are expected to begin work on their Dissertation once exams are over in June. They must submit their work by the end of November of the same year. The students are allocated a tutor, who assists them in the early stages of research in January. The Institute encourages students to undertake studies that are of a current concern to a real organisation, preferably their own if employed.

Dissertations are marked by an internal examiner and moderated by an external examiner. The pass mark is 50% and students’ performance will be indicated on their transcript. In case the Dissertation is not of an acceptable standard, students, paying an extra 85 Euros, may re-submit their work, which has to be in by latest December. If the Dissertation is again found to be unsatisfactory, then the student will fail their MBA with Shipping.

 

Module Description

COMPULSORY:

  1. Research Methodology
The dissertation is the most important part of the MBA programme at CIM. It enables students to display their ability to integrate what they have learned into a piece of work showing that they can address a management problem/issue logically and competently. Students will learn how to conduct research through identifying research problems, evaluating literature and data, proposal writing and analysing research methods. This module will give students the research tools that will enable them to produce a project that draws on their analytical, research and presentation skills and the knowledge developed during their courses. Students will be expected to demonstrate synthesis of knowledge and skills developed throughout the entire programme.
 
  1. Organisational Behaviour
The module of Organisational Behaviour focuses on the interaction of people in organizations and the consequences of their behavior for organizational effectiveness and performance. Organizational structures, perceptions and attitudes, technologies and objectives provide the appropriate framework within the behavior of individuals, groups, networks hierarchies and organizations. This course aims to provide students with an understanding of a systematic set of behavioral science concepts for analyzing human behavior in organizations. Further it provides the opportunity for relating these theoretical ideas to realistic organizational problems through practical experience within the corporate environment. The course aims to increase the ability to influence, lead and manage others effectively in organizational contexts. The major theories and research findings in this area derive from the academic disciplines of psychology, sociology and anthropology and students will be required to familiarize themselves as directed. It is expected that the knowledge gained will be used in case study analysis. In this way students are expected to improve their ability to perceive the drivers of organizational behavior and to form diagnostic conclusions as a basis for managerial action and change management.
 
  1. Strategic Management
Strategic Management is aimed to provide students with an understanding of the strategic aspects and decision making processes of the organization and the tools that top management employs. Furthermore, the course aims to provide students with an understanding of the various organizational structures and management processes with emphasis on strategic decisions such as the resource allocations, mergers, & acquisitions, diversifications, business analysis, competitor analysis and planning. Finally, the course discusses the role of top managers such as CEO, or General Managers as strategists and how these roles attempt to co-ordinate all businesses and functions in the organization to reach its objectives and longer term goals.
 
  1. Maritime Economics, Finance & Accounting
The Maritime Economics, Finance & Accounting module aims at fast-tracking promising young professionals into tomorrow’s leaders in business and government. The module prepares experts with modern economic and management tools for efficient decision-making, providing them at the same time with methods, concepts, and theories to enable them to understand and analyse, in a holistic and multidisciplinary way, the complexities of global maritime supply chains. In this way, graduates are expected to be able to act and make decisions, with managerial style and determination, under complex and uncertain conditions, in a global economic and social environment. At the same time, the module provides an understanding of the financial functions in a corporate context.   It focuses on methods of internal management of funds and investment decision-making together with related topics and an understanding of their underpinning theory. Different ratios are combined to assist students realize the necessity of different financial considerations regarding an effective decision making like ROI, budgeting, etc.
 
  1. Maritme Law & Marine Insurance
Maritime law consists of a combination of customs, legislations, European and International treaties concerned with the rights and responsibilities of vessel ownership and operation. Students will be exposed to different areas of maritime law, covering the legal issues related to commercial shipping activities, vessel registration; shipbuilding; insurance and safety at sea.The Marine Insurance component of the module will provide an in-depth study of the legal principles underlying the area of marine insurance. The Marine Insurance component is intended to provide students with the tools necessary for interpretation, critical analysis and practical application of the clauses commonly used in the London Market in Hull, Cargo, Liability and Offshore Energy insurance contracts. To this effect, an in-depth analysis of the basic principles of marine insurance law following the provisions of related statutes and case law is provided in addition.

OPTIONAL (CHOOSE 1): 
  1.  International Trade & International Marketing
The primary aim of the module is to introduce the many domains of knowledge that international trade and business students should be aware of. The module reviews international trade theory; examines how culture influences international business decisions; explores how all functional business areas (operations, marketing, management, accounting, finance, human resources and law) change in international setting thus developing a strategic framework for analyzing international business decisions. The module will provide a thorough review and analysis of the international trade and business environment and applied this knowledge to practical aspects of doing business in international markets. A rigorous approach is used to provide students with a good understanding of the complex nature of international trade and business activities. Moreover, this module  aims to give students the knowledge and ability to understand the international marketing environment in comparison to their own country, thereby giving students a greater appreciation of the barriers and opportunities that are encountered through diversity in culture, language, laws and other factors.  This helps them to acquire the practice, skills and expertise to deal with international marketing situations.
 
  1. Maritime Logistics
This module underlines the importance of maritime logistics through a series of lectures dedicated to contemporary issues. The logistics elements of shipping and seaport processes are considered and the intersection between shipping, ports and logistics is covered throughout this particular module. The module focuses on the current developments and practices in logistics and supply chain management within the global maritime industry (i.e., shipping and ports). It also aims to provide an understanding of the challenges involved in the management of systems for the transportation of goods by sea as well as the optimization of maritime transportation and distribution systems. The module covers the importance of the maritime industry within global logistics and supply chain, the impact of current business patterns in logistics and supply chain within the maritime sector, the strategic approach of shipping companies in the globalised market place, as well as the logistics related challenges faced by global port operators.
 
  1. Shipbroking & Chartering Practice

    Shipbroking and Chartering Practice provides a sound knowledge of the law and economics of international shipbroking and chartering in a practical way that enables the principles described to be applied in everyday situations. The module has been designed to thoroughly take account of chartering practices, cases and standard forms that have surfaced in the recent years. The Shipbroking & Chartering Practice module is designed to provide, enhance and develop knowledge of the chartering procedures (dry cargo and tanker), taking into consideration all parties involved in the process. The module focuses in the following items: parties involved; market reports; freight indices; offers and counteroffers; details required to be included in offers; negotiations; recapitulation; voyage estimation; charter party types; drawing up charter parties; common clauses. The module also focuses on laytime calculation and advance understanding of the charter party clauses with comparison of wording of different charter parties.


Course Recognition
The CIM MBA Shipping is the first MBA of its kind to be offered in Cyprus and enjoys world-wide recognition. Apart from recognition by ICS (UK) the CIM MBA Shipping has been accredited by the Cyprus Quality Assurance Agency and thus recognised by KYSATS. Cypriot students are eligible to apply forGovernment subsidy up to €3420.


CIM is delighted to announce that its MBA Shipping, has been reviewed and awarded maximum exemptions (3 out of 7) from ICS:
1. Introduction to Shipping
2. Marine Insurance
3. Economics of Sea Transport & International Trade
The CIM programme is the only Master's in Shipping programme that enjoys maximum exemptions in Cyprus.

 

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