Master of Business Administration (MBA) with Shipping

(14 Months FT/24 Months PT)

What is an MBA?

The MBA programme was developed originally in the United States and was introduced in the UK soon afterwards. It continues to expand rapidly both in Europe and in the rest of the world. With the relentless internationalisation of the world economy, an increasing number of companies and organisations require top managers to have an MBA degree. The degree covers not only business administration subjects but a variety of other fi elds, all of which are of vital importance to managers in business and the public sector.

Why the CIM MBA with Shipping?

For centuries, international shipping has been critical to the development of world trade. The inter-relationships between falling transportation costs, economic growth and globalisation are in continual motion as supply chain networks ceaselessly evolve. These elements – shipping, trading patterns, and organisation – are the fundamentals of the programme, while the legal, financial, and managerial aspects of trade and transport form the superstructure.

The course delivers a comprehensive integrated overview of the core subjects essential to a thorough understanding of Business Administration and Shipping Management. Specifi cally, the course aims to develop the generic business skills required by managers working in the maritime business; to develop critical analytical skills and apply them to the challenges they continually meet. The interdisciplinary nature of the programme prepares students as 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 fi rms, makes this choice possible.

Course Objectives

The specific objectives of the MBA with specialisation in Shipping, are for students to:

Develop and improve 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 describe and critically analyse the structures and institutions of managing and organizing sea transport;
Be able to grasp the importance of the economic and regulatory institutions and practices of trade and transport.

Recognition

The CIM MBA Shipping is the fi rst MBA of its kind to be offered in Cyprus and enjoys world-wide recognition. Apart from recognition by the Institute of Chartered Shipbrokers (UK), the CIM MBA Shipping has been accredited by the Cyprus Quality Assurance Agency and isrecognised by KYSATS. Cypriot students are eligible to apply for Government subsidy up to €3420.

Outcomes

Upon successful completion of this programme, 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 fi nancial 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 centres who study trade and transportation issues, locally, peripherally, and globally.

Commencement

Classes commence in October. The academic year runs from October to May, when the final exams take place. From June onwards, students work on their dissertation, which must be submitted in October.

ECTS

Yearly subjects are worth 12 ECTS, Term subjects are worth 6 ECTS and the Dissertation/Company Research Project Is worth 18 ECTS thus a total of 90 ECTS for the whole programme.

Weekly Hours Taught

The number of weekly taught hours for full-time study is 18 teaching periods per week. The total number of subjects taught in one year are 6. For part-time students, the number of weekly teaching periods is 9. The total number of subjects taught in one year are 3.

Dissertation or Company Research Project

Students have an option between a Dissertation and a Company Research Project. 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 September of the same year. Students are allocated a tutor, who assists them in the early stages of research in June. The Institute encourages students to undertake studies that are of a current concern to a real organisation, preferably their own if employed.

The Company Research Project allows students to apply classroom-taught knowledge and analytical research to solve a strategically significant issue that is highly relevant for business. It aims to enable students to demonstrate their ability to identify and solve challenging business problems through the identification of relevant information, the collection and analysis of data and the sharing of information in informative formats and contexts. The objective of the Module is to facilitate the development of a coherent business project that shows detailed knowledge of a topic relevant to Management and Shipping and to use the skills and insights gained during their studies to help solve a clearly defined problem and make a useful contribution to the existing academic and professional knowledgebase.

The Company Research Project is therefore one of the means through which has the opportunity to develop and demonstrate the power of rigorous analysis, critical enquiry, independent judgment and clear expression.

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Strategic Partners

The Strategic Partners represent companies which are local and global leaders in their respective fields and they shall offer as strategic partners among others:

Guest Lecturing
Material to students/lecturers
Awards for Top-Performing students
Internship and Work Opportunities
Master Consulting Projects

Compulsory:

1. Strategic Management (12 ECTS) – Yearly
2. Organisational Behaviour (12 ECTS) – Yearly
3. Research Methods (12 ECTS) – Yearly
4. Maritime Economics (6 ECTS) – Term 2
5. Finance & Accounting (6 ECTS) – Term 1
6. Maritime Law (6 ECTS) – Term 1
7. Marine Insurance (6 ECTS) – Term 2

Optional (1 out of 5):

8. Shipbroking & Chartering Practice – Yearly
9. International Trade – Yearly
10. Entrepreneurship & Innovation – Yearly
11. Shipping Finance – Yearly
12. Maritime Logistics – Yearly

Module Aims

Subjects (Compulsory & Optional)

1. Strategic Management

This course aims to enable students to develop a critical and informed understanding of the business environment in which organisations operate and of business opportunities as well as equip them with a range of tools and concepts of strategic analysis and business modelling that will enable them to assess the strategic position of business organisations. Students will also develop strategic thinking and vision that can be utilised in formulating strategies, evaluating options, and implementing strategic decisions.

2. Organisational Behaviour

The aim of this course is to delve into translating management and organizational behaviour theory to practices that result in organizational effectiveness, effi ciency, and human resource development. The module will also address issues such as workforce motivation, incentives, team building and offi ce environments and how we can best manage the dynamics of organizational change. In addition, this module will examine the contemporary principles, techniques and research fi ndings in management and organizational behaviour that are driving high performance and continuous improvement in business today and provide the student with an understanding of management and organizational behaviour, concepts associated with continuous improvement in individual and group processes.

3. Research Methods

The course aims to enable students to understand business research, offering an in-depth understanding of relevant approaches and elements of undertaking a research enquiry; Students will be provided with the necessary skills and knowledge to determine the information necessary to address an identifi ed research problem and produce a critically informed research proposal suitable for a coherent business project that shows detailed knowledge of a topic relevant to the student’s programme of study; Students will also develop critical core competencies and skills including: defi ning research questions; setting appropriate research objectives; study design that incorporates research objectives and budgetary constraints; secondary and primary data collection and instruments; sampling and analysis methods; and effective reporting of results; as well as the importance of ethical conduct in conducting research in both a domestic and in international business contexts; Additionally, students will put into practice skills and insights gained to help solve a real-world business problem.

4. Maritime Economics

This course aims to analyze the role of maritime
economics in the economy, trade, society, and
general welfare. Students will be familiarized
with the evaluation and application of the basic
variables of supply and demand for ships and
shipping service, as well as the application of
these variables in the process of freight rate
determination. Furthermore, this module will equip
the students with knowledge and tools to conduct
relevant and theoretically sound analyses of
shipping markets – and have the ability to provide
qualified explanations of the trends and cycles in
these markets, together with making predictions of
the future development of the markets.

5. Finance & Accounting

The module aims to enable students to understand
the principles and most common techniques that
underlie financial and management accounting.
Moreover, they will develop an in-depth knowledge
of managerial uses and limitations of accounting
data, and techniques of financial analysis.

6. Maritime Law

Through this module, students will be introduced to general principles of maritime law, carriage of goods by sea law, and basic principles of marine insurance. In addition, a systematic and methodical approach to cover syllabus of the course through the use of case studies is adopted. The module will familiarise students with the various legal concepts by analysing case law, interpreting statute and international conventions and applying the relevant principles involved to commercial situations.

7. Marine Insurance

This course is designed 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. It adopts a systematic and methodical approach to cover syllabus through the use of case studies. Students will be familiarized with the various legal concepts by analysing case law, interpreting statute and international conventions and applying the relevant principles involved to commercial situations.

8. Shipbroking & Chartering Practice

This course aims to provide, enhance and develop knowledge of the chartering procedures (dry cargo and tanker), taking into consideration all parties involved in the process. Main focus is put on the following areas of the course: 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. In addition to the above, emphasis will be given to laytime calculation and advance understanding of the charter party clauses with comparison of wording of different charter parties.

9. International Trade

Through this module students will be introduced to many important domains of knowledge of international trade and international marketing. Additionally, the course will review international trade theory as international marketing and examine the infl uence of culture on international business decisions. By exploring how all functional business areas (operations, marketing, management, accounting, fi nance, human resources and law) change in international setting, students will develop a strategic framework for analyzing international business decisions while applying international marketing practices. Not only will the course provide a thorough review and analysis of the international trade and business environment, but it will also equip students with tools to apply this knowledge to practical aspects of doing business in international markets. Finally, students will be provided with a good understanding of the complex nature of international trade and business activities.

10. Entrepreneurship & Innovation

This course introduces students to developing and/or creating a new venture, including: – Uncovering opportunities for innovation – Building a business model to extract maximum value from innovative ideas – Financing new ventures It also aims to help students develop new skills and gain knowledge about innovation that will enhance their ability to contribute to the long-term competitiveness of businesses. The course is designed to meet the needs of future managers, entrepreneurs, and investors. Finally, it assists students in understanding the link between entrepreneurial activity and economic development, where creativity and innovation underpin all successful entrepreneurship.

11. Shipping Finance

This module analyzes all forms of corporate financing such as equity, bank financing and joint ventures. In the course students will be given an opportunity to evaluate alternative sources of funding in relation to the characteristics of shipping investments, as well as the conditions of the global shipping market. Furthermore, emphasis is given to the advantages and disadvantages of each form of fi nancing as well as to the particular characteristics of the shipping industry, such as the extremely high volatility of freight rates and ship prices.

12. Maritime Logistics

The course aims to provide students with 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. Another objective of the module is to stress and enable students to critically interrogate the importance of the maritime industry within global logistics and supply chain and the impact of current business patterns in logistics and supply chain within the maritime sector. In addition to these, the module offers the tools necessary for the understanding and the ability to assess the strategic approach of shipping companies in the globalised market place as well as the logisticsrelated challenges faced by global port operators.

Assessment

All subjects have 2 components for assessment:

– Two Assignments worth 40% (January & April)
for Yearly Subjects
– One Assignment worth 40% (December or April)
for Term Subjects
– Final Examination worth 60% (January or June)

The pass mark is 50%

Note 1: The module of Research Methods is assessed solely by the Research Proposal

Note 2: Some Assignments can be in the form of Group work followed by a Presentation and Self-Reflective Report

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