Effective management is one of the key elements that is integral to the operations of an organization. Hundreds of small and large businesses are set up each year. While many businesses flourish, others disappear without a trace. And Poor management can be blamed for pushing an organization out of business. Other variables such as increasing industry competition, changing market trends, and technology also play a role in determining the success of a firm. But what keeps a business internally strong and organized is its management. Organizational management can be described as the process of organizing, leading, planning, and controlling a company’s resources.
Organizations in all types of industries rely on effective management. The need for skilled management has increased in recent years and has opened up many career opportunities. However, to prepare for a career in management, individuals must seek specialized education and training. Schools all across the nation are offering management degrees at both graduate and undergraduate level.
Masters in Organizational Management
This degree program prepares students for management roles in present day organizations.The program will enable students to acquire a strong grasp of management principles and skills. Students will cover various management subjects that will develop a strong foundation of basic business knowledge. Apart from fundamental areas relevant to the field, the curriculum will also entail advanced topics that will highlight the changing roles of managers and the technological advancements.
Students enrolled in the program will gain an insight on various types of organizations that exist, and how managerial theories are applied effectively in such organizations. Since management is a broad field, the program explores the many roles played by managers in different departments such as Human Resource, Finance, and Marketing.There are a number of accredited schools offering this program.
The coursework will depend upon the school one enrolls in. Usually, a master’s degree in organizational management will cover a number of general business subjects and electives. Here are some of the topics included in a Master’s in Organizational Management program:
Management Systems (2-3 credit hours)
This course will provide an overview of the basic management theories and concepts. Students will learn how to identify different management styles and systems. The course will highlight topics such as stakeholder theory, organizational effectiveness, decision-making, and problem-solving.
Managerial Economics (2-3 credit hours)
Students enrolled in this course will develop a basic understanding of market structure and production. The course will emphasize various principles of economics, and topics such as investment theories, pricing, risk analysis, and capital budgeting.
Strategic Management and Policy Formation (2-3 credit hours)
This course will cover the processes of strategic management. Students will learn how corporate strategies are designed and implemented effectively in organizations. It will allow students to explore economic, social, and political factors that affect strategy-building.
Statistics in Management (2-3 credit hours)
In this course, students will learn how to apply statistical techniques for business research. The course will cover a range of statistical measures used by modern-day businesses.
Organizational behavior (2-3 credit hours)
This is one of the most important areas covered in the degree program. The course is designed to provide students with in-depth understanding of employee attitudes, leadership roles, motivation theories, and productivity.
Human Resource Planning (2-3 credit hours)
This course will cover the main principles of human resource management. Students will learn how to identify HR requirements, recruit employees, develop training programs, and assess employee progress.
Communication and Conflict Management (2-3 credit hours)
This course will enable students to understand the role of communication in organizations, and effectiveness of communication channels. Students will cover various methods of negotiation and persuasion.
Accounting and Finance (2-3 credit hours)
This is a general course that will help students learn about the financial functions of organizations. The course will cover the basic principles of accounting, concepts of managerial finance, and balance sheet analysis.
A master’s degree in organizational management may help students develop the following skills:
Business writing skills
By the end of the program, students may be able to:
Demonstrate in-depth understanding of managerial concepts and principles
Effectively apply management principles in different work-settings
Manage groups and teams
Communicate effectively with business personnel
Design and implement policies, strategies, and plans
Manage business resources effectively (human resource and capital)
Allocate company resources towards achieving goals/objectives
In order to successfully complete the program, students must earn a minimum number of credit hours by completing all the courses. The program may also include examinations, assignments, and research projects. Such requirements may vary from school to school.
Duration of the Program
A master’s degree usually takes two years to complete. But individuals who are working can also opt for part-time degrees which may take more than two years. On the other hand, accelerated masters programs can be completed in less than two years and allow individuals to save time.
Before enrolling in any program, individuals must make sure the program as well as the college is accredited. There are a number of accrediting bodies in the United States such as the Association to Advance Collegiate Schools of Business (AACSB) and The Accreditation Council for Business Schools and Programs (ACBSP).
To enroll in a masters degree in organizational management, student must have a bachelor degree and a high school diploma. Other requirements may include the following:
GMAT (Graduate Management Admission Test)
Minimum 2.0 – 2.5 CGPA score
Letters of recommendation
It is important to note that the admission requirements may vary according to the school in question.
Online Master of Organizational Management Program
Other than traditional colleges, you can also choose to enroll in a Master of Organizational Management degree program online. Compared to regular degree programs, online courses are relatively more flexible. You can manage studies from any location and complete the program at your own pace. Also, online Master in Organizational Management programs are relatively more affordable as compared to than the degree programs offered at campus-based institutes.
Organizational managers may be required in various industries such as manufacturing, retail, information technology, and even healthcare. The duties will depend upon the type of position one qualifies for. Listed below are a few main occupations along with the 2012 median wage data provided by the US Bureau of Labor Statistics (BLS):
Administrative Service Managers $81,080
Marketing managers $115,750
Compensation and benefits managers $95,250
Financial managers $109,740
Human resource manager $99,720
Sales managers $105,260
Top executives $101,650
Factors such as location, employer, and specialization area will determine the exact income level of a management professional.
How long does it take to get a Masters in Organizational Management?
To get a Masters in Organizational Management, you will need at least 2 years. Some colleges may offer distance learning options or weekend and evening classes for more flexibility. A Masters in Organizational Management degree would train you to take up leadership and administrative positions in various organizations.
What are the requirements to get a Masters in Organizational Management?
To get a Masters in Organizational Management, you will first need to complete a bachelor’s degree in a management related field. Following this, you may apply to colleges, with your GRE score, admission tests, letters of reference and GPA, along with professional experience of at least 1 to 3 years. Once enrolled in a Masters in Organizational Management program, you will be required to take up courses such as Project Management, Human Resource Management, Non-Profit Management, Public Health Management, Public Administration and so on.
How much can I make with a Masters in Organizational Management?
According to the US Bureau of Labor Statistics, management occupations made an annual median wage of $104,240. This is the highest wage among all other major occupational groups and is significantly higher than the median wage for all occupations. Employment opportunities in this sector are expected to grow by 8% in the years from 2016 to 2026.
Frequently Asked Question(s)
Q:Where can I find colleges which offer Organizational Management degrees?
A:There are various accredited colleges like, University of Scranton, South University, and Benedictine University Online that offer bachelor's and master's level degree programs in Organizational Management. Online programs can also be pursued at these colleges.
Q:As I read on the careers with a Masters in Organizational Management, there was mention of the course on Business Ethics. What are the contents of this course?
A:It is common to get the mention of course on Ethics in Business while reading on the careers with a Masters in Organizational Management. This course is worth 4 credits in total and is designed to provide the students with ample examination of the values and ethics of a business set up. It also stresses on morality and ethical as well as non ethical boundaries.
Q:How long does it take to complete a masters in organizational management?
A:Normally it takes two years to complete a master's degree in organizational management. All masters level degree programs require two years for completion. However, is you want to complete the program in less time; you can opt for accelerated degree options. Accelerated programs are offered by many online and campus based graduate schools.
Q:What is a masters degree in organizational management?
A:Organizational management is important area of business studies. This specialization area focuses on core concepts related to management strategies, managing resources, and increasing business output. Students who opt for a master's degree with specialization in organizational management can look forward to careers as organizational manager and executives. This is a graduate level degree that can also be earned online.
Q:As I was reading about masters in organizational management jobs, I came across the term organizational management. Can you define this?
A:Organizational management can be defined as managing various resources, activities, and tasks in an organization. It is important that all the departments in an organization are synchronized and are working towards one goal. This field has become a major academic principle and is chosen as a specialization course at undergraduate and graduate levels.
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