The Master of Science in Management or MMS is an AICTE approved master’s degree program, similar to an MBA. Some universities also call the MBA program by another name. This third cycle lasts two years, divided into four semesters. Persons wishing to participate in this course must hold a management license with the required minimum grade.
The MMS course is designed to provide a deeper understanding of business strategies, financial management and the thinking behind them. In other words, it is an educational discipline that deals with fundamental areas such as social organization and organizational orientation. This postgraduate programme enhances students’ skills in business management and provides the necessary training to enable students to pursue a successful career in this field.
Since the Master in Management program is similar to the MBA program, students from all fields of study can opt for this program. Moreover, it also provides students with excellent job opportunities after completing this course. In this article, we cover everything you need to know about the Master in Management before you start this course.
What is a master’s degree in management?
This is a two-year postgraduate course for students who want a career in management. The minimum requirement for passing any part of the MMS is graduation. This program is comparable to the Master in Business Administration or MBA. Students in sciences, business administration, humanities and other fields can take this course. This course enables students to acquire theoretical and practical knowledge in this field. In the first year the subjects of the MMS courses are the same as those of the MBA courses. But in the second year, students can choose a specialization based on their interests.
Scope of the Master of Management programme:
The Master of Management program is specifically designed to teach students management and leadership skills. The MMS course has a wider reach in the global market and offers graduates numerous job opportunities both in India and abroad. The main objective of the course is to impart practical management knowledge to the students so that they can work effectively in different organizations.
Students can gain an in-depth theoretical knowledge of management and leadership that can help them in their work. It also provides knowledge on various topics such as the psychology of money, e-commerce, business ethics, etc. This internationally popular program offers graduates the opportunity to travel to different countries and gain international experience working with world-renowned experts.
A master’s in management is essentially a management degree that includes several related subjects such as project management, information technology management, innovation management, human resources management, etc. Thus, after completing the MMS course, students will have diverse knowledge on all related subjects and will be able to work in different jobs in different companies. In addition, students have a wide range of employment opportunities after completing this course.
Tuition fees for the Master of Management programme:
The cost of a master’s degree in management varies from university to university. However, the average cost of the course ranges between 60,000 rupees and 4.5 lakh in India.
Criteria for the Master of Management Programme
The minimum requirements for the Master’s degree in Management are a degree in any discipline or its equivalent from a recognized university. Students in the reserved category must achieve a minimum score of 45%. In addition, final year students can also enroll in the MMS course. In that case, the student must demonstrate that he has passed within the specified period. Some institutions also take into account the results of the admission tests to decide whether the candidates meet the required conditions.
Enrolment procedure for the Master of Science in Management
Admission to the MMS program is based on the candidate’s grades in the entrance exam and the bachelor’s degree. Some colleges also conduct personal interviews for student enrollment. Thus, in order to be admitted to this two-year master’s program, a good percentage of students must have scored well in the university entrance exam. The universities will then announce the cut-off points based on the entrance exam and available seats. Candidates can check the limit announced by the college and then start the admission process.
Entrance examination for the master’s degree in management:
The MMS course has several entrance exams to be admitted to the course. You can take any of these entrance exams if you want to pursue a master’s degree in management. Below is the list of entrance exams for the MMS program.
- Common Admission Test (CAT) :
This entrance exam is organized by the Indian Institute of Management (IIM).
- Executive Aptitude Test (GMAT) :
The GMAT exam is administered by the Indian Council of Graduate Admission. Successful completion of this exam allows students to enroll in higher education institutions administered by GMAC.
- Management Aptitude Test (MAT) :
This entrance exam is another option for admission to MMS programs at public colleges and universities. The MAT entrance exam is organized by the Managers Association of India.
- NMIMS Management Aptitude Test (NMAT) :
The Narsi Monji Institute of Management Sciences organizes the NMAT exam in India. Those who pass this exam are admitted to MMS programs at colleges and universities belonging to the Narsee Monjee group of institutions.
- Anand Institute for Rural Management (IRMA) :
This entrance exam is a qualifying exam for the business and management courses at IRMA College. The same college holds this exam to select candidates for its courses.
- MICA Acceptance Test (MICAT) :
If you want to be admitted to MICA Ahmedabad Business and Management courses, you need to pass this entrance exam. This entrance test is conducted by MICA Ahmedabad.
- Indian Institute of Foreign Trade (IIFT) :
This entrance exam is administered by IIFA to admit students to the IIFA College Band. You must take this placement test if you want to take an MMS course at an IIFA college.
- Target identification test for admission management personnel (ATMA) :
The ATMA entrance exams are organized by AIMS or the Association of Indian Management Schools. This entrance exam is recognized by the MFHRF for admission to management courses at various colleges.
Master’s Degree in Management
As already mentioned, the Master of Management programme takes a total of four semesters. These are the courses taught during the four semesters of this master’s program. The courses listed below are nearly identical in most higher education institutions. However, in some institutions, the curriculum may differ slightly from the topics listed below.
Semester 1:
- Marketing Management
- Mathematics for businesses
- Organisational behaviour
- Management Information System
- Communication skills
- Business Administration
- Operational management
- Prospective management
- Topics of choice : Negotiation skills, ethical management in India
Semester 2:
- operations research
- Management of human resources
- Legal aspects of business and taxation
- Financial Management
- the economics of research
- cost and activity accounting
- Topics of choice : Event management, international finance, risk and supply chain performance management, rural marketing, quality assurance and software marketing.
Third semester:
- Strategic Management
- International Trade
- Report of the summer internship
- Sales management and promotion
- Financial aspect of marketing
- Purchasing and industrial purchasing behaviour
- Product and brand management
- Training and development
- Competence and performance management
- Organization theories and structure projects
- Introduction to industrial relations and occupational health and safety
- Material management and transport
- Planning and control of production resources
- Improving supply chain management
- Software development
- Database management systems
- Networking and communication
- Technology platforms
- Topics of choice : Product and brand management, electronic commerce, quantitative methods in business management, market research and analysis, valuation of companies, labour law
Semester 4:
- Management control system
- management of entrepreneurship
- Environmental Management
- Specialized Projects
- Business ethics and corporate governance
- Quality management
- Management of services
Career opportunities for holders of a master’s degree in management
Career opportunities for MMS graduates are numerous in India. Candidates can get jobs in leading multinational companies and other leading management and executive companies. The main areas in which MMS graduates can work include banks, management consultancies, export companies, financial institutions, industrial companies, labour sectors, etc. Graduates can also work as entrepreneurs by starting their own businesses.
Best career profiles for MMS students
Candidates can hold various positions in India. Below are some of the basic job descriptions for candidates with a master’s degree in management.
- Marketing Manager for IT Services :
The primary role of the IT Services Marketing Manager is to oversee marketing activities for IT customers. In this job profile, a person creates strategies for all marketing teams such as advertising, digital, creative and communications. The IT Services Marketing Manager also sets the team’s objectives and oversees their achievement. The person in this position also creates and manages the budgets of the marketing department. The average annual salary of a marketing manager IT services is between 6 and 8 rupees.
The production manager analyzes the market and oversees the products manufactured in the plant. The role of the Production Manager is to lead and motivate all team members to meet deadlines and improve quality. This person is also responsible for the safety of the employees working in the production. He also oversees production planning, purchasing, equipment manufacturing and shipping services to ensure smooth operations. A person holding the position of marketing manager can earn an average of Rs 8-9 per year.
The role of the operations manager in any organization is to oversee the various business operations and activities. Operational management systems and processes will also be improved to ensure that all operations are conducted correctly. The operations manager also analyzes financial data and uses it to increase profits. In addition, this person is also responsible for recruiting, training and supervising staff to ensure the smooth running of operations. The average salary of a production manager ranges from 4 to 55 rupees.
The brand manager is responsible for maintaining the brand image by monitoring the quality of the products and services. The person in this position will work with various departments within the company to ensure that all aspects of the brand are maintained. The brand manager works with various departments such as marketing and sales, finance and product development to manage the marketing process. A brand manager can earn between 8 and 10 lakh per year on an average.
List of top ranked schools in India for Masters in Management:
Below is a list of the best higher education institutions in India offering Masters in Management.
- Jamnalal Bajaj Institute of Management Studies, [JBIMS] Mumbai
- Durgadev Management Institute Saraf, [DSIMS] Mumbai
- Indian Institute of Management, [IIM] Ahmedabad
- Faculty of Management, Bangalore
- Navkonkan Institute of Management Studies, [NESIMS] Chiplun
- Asm Group of Institutes, Pune
- Alamur Ratanmal Institute of Engineering and Technology, Tane
- Rajeev Gandhi College of Management Studies, [RGCMS] Navi Mumbai
- Vishwakarma Sahajivan Madanbhai Sura Institute of Business Management, [VSMSIBM] Head.
- Pillai Management Research Institute, [PIMSR] Pune
Conclusion:
The Master in Management is a high-level course in management and leadership, similar to an MBA program. Candidates with a bachelor’s degree in any field of study can take this course and get a job in different companies.
At the end of the course, students can find a job at home or abroad and earn a good salary.
frequently asked questions
What is the registration fee for the BMS course?
BMS [Bachelor of Management] courses: Complete, natural form…
Is an MMS preferable to an MBA?
Because the MBA is a recognized degree and is known to give students easy access to the best jobs in the world, tuition is generally higher than that for the MMS program. In fact, many students who cannot afford an MBA program choose the MMS as a less expensive alternative.
What is the MMS course?
The Master of Management or MMS is a two-year postgraduate programme in management which, like the MBA, is accredited by the AICTE. In fact, it is a different name for the MBA as some universities call their management program PG MBA while others call it MMS. In India, most universities in Maharashtra offer MMSs instead of MBAs.
