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QAA Subject Benchmark Statement: Master’s Degrees in Business and Management.

September 2023

The aims of the MSc Management and Finance programme are in line with section 1.8 of the QAA 2023 statement for master’s courses in Business and Management. The aims of the programme are:

• The advanced study of international business, and the changing external context in which businesses operate.

• The advanced study of organizations and their management and leadership, including the development of theoretical knowledge and practical skills.

• To develop a critical understanding of the contemporary role of the financial system in the economic process, including its potential role in facilitating economic growth, and the importance of regulating activities of financial institutions and markets domestically and internationally.

• To critically engage with the theories, concepts and tools in financial markets, financial institutions, financial analysis and corporate finance.

• Preparation for and/or development of a career in management or finance by developing skills at a professional or equivalent level, or as preparation for research or further study in the area.

• Development and enhancement of a range of general transferable skills and attributes.

• Development of lifelong learning skills, including engendering an enthusiasm for business and for learning more generally as part of continuing personal and professional development.

Graduates will have a sound theoretical grounding in the broad area of business and management and will have developed a range of analytical and personal skills. They have a clear understanding of how their knowledge and skills may be used effectively within an organizational context. They are able to analyse the risk and opportunities facing businesses in the international arena, and develop strategic and operational proposals to support decision-making.

Graduates will be able to collect relevant information across a range of areas pertaining to a current situation, analyse that information and synthesise it into an appropriate form in order to evaluate decision alternatives, and engage with people from different cultural backgrounds in order to raise the level of organizational thinking.

Within the broad framework of organizations, their external context and management, it is expected that graduates will gain knowledge and develop understanding in the following areas:

• A1 Operations – demand management, capacity management, inventory management, logistics

• A2 People – strategic and operational HRM; meeting future organisational requirements; people development; leadership and emotional intelligence; HR systems

• A3 External Environment – understanding of the economic, cultural, political and legal environment in which businesses operate internationally, including the impact of government policy, the role of international agencies, and compliance with commercial law

• A4 Financial Management – the sources, uses and management of finance; uses of accounting and other information systems for managerial applications

• A5 Financial Markets – financial instruments and investments: equities, bonds, derivatives; evaluating risk and expected return; portfolio theory

• A6 Corporate Finance – capital budgeting, capital structure, dividend policy, merger and acquisition, taxation, real options

• A7 Information systems, communication and business intelligence –information systems and their impact on organisations; digital and other communications tools; transforming data into useful information to support business decision-making

Learning and Teaching

Teaching/learning will take place through traditional lectures, practical modules and interactive exercises. Learning outcomes A1-A7 are acquired through lectures, seminars, case studies, individual tasks, group work and directed independent study. The development of the research project provides an additional opportunity for achieving learning outcomes A1-A7.

Lectures and seminars introduce the required theories and understanding to facilitate exploration of the character, contexts, practices and interpretations of business related issues while demonstrating and encouraging a critical and reflexive approach. The use of seminars and case studies allows students to develop their own ideas, and to express, and ultimately, justify and defend them, against competing claims. Part of the aim is to encourage the student to take increasing responsibility for his or her own learning.

Directed independent study and reading, along with individual tasks, facilitate further exploration of the relevant areas.

Students are expected to extend and enhance the knowledge and understanding they acquire from lectures and classes by regularly consulting library and journal materials relating to individual modules of the programme.

The research project requires a student to demonstrate in-depth knowledge and critical evaluation of specific issues. It also requires the student to demonstrate a range of relevant research skills.

Assessment Strategies and Methods

The intended outcomes will be assessed via both individual and group continuous assessment, and through examination. The learning outcomes are assessed informally and formally by various means. Oral presentations and the associated informal feedback provided enable students to explore and enhance their understandings and develop presentation skills. Learning outcomes are assessed formally via unseen written examinations, coursework assignments, projects, and in some instances through assessed presentations.

10.2.1 Intellectual Skills

• B1 Problem-solving and critical analysis: collecting relevant information relating to a current situation, analysing facts and circumstances to determine the cause of a problem, identifying and evaluating possible solutions; decision-making and selecting appropriate, sustainable solutions

• B2 Critical analysis: being able to think critically and be creative; managing the creative processes in self and others; organising thoughts, analysing, synthesising and critically appraising; the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately; the ability to implement and review decisions.

• B3 Research: the ability to conduct research and enquiry into finance and financial market issues either individually or as part of a team through research design, the collection and analysis of qualitative and quantitative data, synthesis and reporting; analysing and evaluating a range of data, sources of information and appropriate methodologies, which includes the need for strong digital literacy, and to use that research for evidence-based, responsible and ethical decision-making; an ability to evaluate the rigour and validity of published research in business and management and assess its relevance to new situations.

• B4 Awareness of current problems and/or new insights, much of which is at, or informed by, the forefront of the relevant field of the finance academic discipline

Learning and Teaching

Teaching/learning will take place through traditional lectures, practical modules and interactive exercises.

Assessment Strategies and Methods

The intended outcomes will be assessed via both individual and group continuous assessment, and through examination.

10.2.2 Professional practical skills / Discipline Specific Skills

By the end of their programme, all students are expected to be able to demonstrate:

• C1 To operate effectively in a variety of team roles; performance within team environments and the ability to recognise and use individuals’ contributions in group processes and to negotiate and persuade or influence others; team selection, delegation, development and management.

• C2 Leadership and managing change: take on leadership roles and carry them out responsibly and effectively. This includes having the capacity to recognise the need for change, the ability and proactivity to initiate change, as well as managing change.

• C3 People management: team building, resilience and well-being, leadership and motivating others; selecting the appropriate leadership style for different situations; nurturing equality, diversity and inclusion; performance management; setting objectives, coaching and mentoring.

• C4 Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model finance and business problems, functions and phenomena.

Learning and Teaching

Lectures and seminars introduce the required theories and understanding to facilitate exploration of the character, contexts, practices and interpretations of the key issues while demonstrating and encouraging a critical and reflexive approach.

Assessment Strategies and Methods

The use of seminars and case studies allows students to develop their own ideas and to express, and ultimately, justify and defend them, against competing claims.

10.3 Transferable/key skills

By the end of their programme, all students are expected to be able to demonstrate:

• D1 Effective business communication: verbal and/or non-verbal communication of complex ideas and arguments, using a range of media (for example, digital media) and technology, including the preparation of reports.

• D2 Interpersonal skills: understanding the needs of others and empathy towards them; sensitivity to diversity in people and inclusivity in different situations.

• D3 The ability to work collaboratively and inclusively with both internal and external stakeholders with professional integrity

Learning and Teaching

Most of the key transferable skills form an integral part of the overall assessment of the degree scheme

Assessment Strategies and Methods

Skills are assessed directly throughout the degree programme as well as informally assessed through coursework and projects including the research project.