The undergraduate program in Management is the only accredited program of study in Management Studies, offered by public universities in Cyprus or Greece, which gives the opportunity to students to concentrate in the fields of “Entrepreneurship and Innovation” or “Energy Resources Management”. We designed these two concentrations in response to emerging academic needs and job market opportunities. Studies conducted by the Ministry of Education of Cyprus and the Human Resource Development Authority of Cyprus suggest that “Business Management” is amongst the most popular and attractive fields of tertiary education in Cyprus. Amongst the professions of advanced level, two distinct specializations of Business Management, those of “Entrepreneurship and Innovation” and “Energy Resources Management”, enjoy exceptionally favorable potential in the near future.
The program in Management is a byproduct of the close collaboration between the Department of Hotel and Tourism Management and the Department of Commerce, Finance and Shipping, both within the School of Management and Economics. Hence, the title “Interdepartmental”. Due to its interdepartmental associations, it enables students of Management to attend a plethora of interdisciplinary modules.
The program in Management is particularly targeted at people who have become interested in how modern business organizations function, how investment decisions on innovative technology products and novel solutions are made, how to meet existing and emerging consumer needs, how to transform modern challenges into opportunities, how to seek better methods of governance and to increase the performance of organizations, how businesses can operate in full harmony with the natural and social environment, and how decisions are made to optimize the use of energy resources.
The Potential for Students in “Entrepreneurship and Innovation”
The local institutions and the State are progressively oriented towards the formation of a “vibrant” and prosperous economy. The new economic form is expected to hinge on the efficiency of the process of creating start-ups that will allow innovative ideas to grow swiftly, materialize and succeed. This looming transformation gives rise to significant needs for modern “entrepreneurs”. It also reveals the lack of domestic tertiary education programs that focus on "Entrepreneurship and Innovation". According to data from the Cyprus Statistical Office that cover the period 1999-2015, there was a dramatic reduction by 26% in the employment of entrepreneurs who did not attain a university degree. In contrast, entrepreneurs that attained university education were more resilient encountering a decrease in employment by only 1.2%. A related study carried out by the Human Resource Development Authority of Cyprus (HRDA), predicts a significant average annual increase in the employment of managers for small enterprises for the period 2010-2020 by 5%.
The Potential for Students in “Energy Resources Management”
Following the discovery of natural gas in the Exclusive Economic Zone of Cyprus, it is anticipated that new domains of economic activity will arise and new economic and job market opportunities will become available. The hydrocarbon industry is largely international. Therefore, job positions are considered highly specialized demanding specialized scientific training of prospective human capital. According to a study by the HRDA of the immediate employment needs arising from the exploitation of the natural gas fields in Cyprus, there is significant outlook for new employment opportunities for managers and graduates with specialization in “Energy Resources Management”. These opportunities cover the whole value chain from the processing stages through the liquefaction and storage of natural gas. They also apply to similar, complementary and supportive sectors. A strong need to advance and specialize the indigenous human capital to optimize the hydrocarbon industry in Cyprus is imminent.
Further Potential for Students in Management
Students are able to attain several exceptions from modules that are required for the accredited qualification of the professional accountant of the ACA (Institute of Chartered Accountants in England and Wales) or the ACCA (Association of Chartered Certified Accountants).
Graduates of the program in Management will be able to apply for any job in the private or public sector, within or outside Cyprus, in the fields covered by the program, such as Accounting, Finance, Marketing, Strategy and Human Resource Management, among others. Graduating with a high mark will enable students to apply for postgraduate studies at the best internationally recognized universities.
In year three of the program, students may be selected to work in a real business organization as part of their internship course. This will enable them to understand the challenges of modern businesses in real working conditions. Often, upon completion of their studies, students who have participated in an internship are offered a full-time job by their internship companies.
