Master of Science in Strategy, Innovation, and Management Control

The Master in Strategy, Innovation, and Management Control prepares tomorrow's executives for their role as organizational leaders. The program combines theory, practice, and instruction in relevant social skills, for an integrated approach to organizational leadership. Great emphasis is placed on developing the ability to identify new entrepreneurial opportunities and, based on that ability, creating strategies for achieving sustained success.

Visit the website: https://www.wu.ac.at/en/programs/masters-programs/strategy-innovation-and-management-control/overview/

Course detail

The 21st century is characterized by challenges that are unique in the history of mankind. Technological advances and social developments, together with a high level of interconnectedness due to globalization and the continuous expansion of the Internet are dramatically changing the world's dynamics. Change is happening faster, in a more complex way, and occurs on a more profound level. As a result, management tasks have never before been as demanding as they are today.

Simultaneously, entrepreneurial opportunities have never before been as great and diverse as now. For executives to operate effectively in this promising yet risky economic environment, they need to be equipped with a broad range of knowledge, techniques, and skills. Tomorrow's leading executives will have to combine know-how in the areas of strategy, innovation, organization and change management, and have profound knowledge of how to manage and control business from a financial perspective. They will need analytic and creative skills, to think and act as entrepreneurs.

Purpose

The Master in Strategy, Innovation, and Management Control offers a profound education to develop these necessary skills. The international oriented program combines theory, practice, and social and intercultural skills and bridges the gap between strategic management and entreupreneurship.

Format

Selected students have the possibility to gain a double degree at one of 4 renowned partner universities. All SIMC students can spend a semester at one of WU's 120 partner universities for graduate students.

The flexible structure of the program does not only allow students to study abroad but also makes it possible to individualize their acquired qualification. Therefore, students choose 4 electives from a broad range of 5 different areas.

First Year

In the first semester foundation courses provide the basis for an in-depth understanding of how companies develop corporate and business strategies (strategy development) and how they can translate their strategies into employee action (strategy implementation). The second semester is dedicated to the contextualization and integration of the program's core subjects. You are provided with the opportunity to apply and deepen the knowledge gained from the introductory courses in a comprehensive way.

Second year

Building on this solid foundation you have the opportunity to specialize by choosing four out of numerous electives and start to prepare and write your master theses. In addition, a business project is organized in cooperation with our corporate partners which offers the opportunity to apply theoretical knowledge to real life problems or a garage course is offered which allows you to develop your own start-up idea.

The program's flexible structure allows you to spend one or two semesters of your second year of studies at one of our prestigious partner universities. For selected students we provide the opportunity to join a double degree program.

Career Prospects

Our graduates are ideally prepared to take on executive positions in established companies and are provided with a toolkit that eventually enables them to found their own company.

After completing the program, students have learned to think and act as entrepreneurs and to actively contribute to organizations and lead them into the future. Our graduates are able to combine expertise in the areas of strategy, innovation, organization, and change management, as well as in managing and leading businesses from a financial perspective. This is the main reason why our alumni are employed in various industries and work in diverse functions.

They typically assume the following roles/work in the following areas:

- Management consulting
- Corporate development/strategic management
- Management control and financial management
- Assistants to senior executives
- Innovation management and organizational design

Several of our graduates apply their acquired entrepreneurial skills in real-life and found their own start ups.

How to apply: https://www.wu.ac.at/en/programs/masters-programs/strategy-innovation-and-management-control/application-admission/

Funding

Information on funding and scholarships can be found at the following webpage: https://www.wu.ac.at/en/students/my-degree-program/masters-student-guide/grants-and-scholarships/

Visit the Master of Science in Strategy, Innovation, and Management Control page on the WU – Vienna University of Economics and Business website for more details!