The MBA International program is a general graduate management degree that prepares students for a range of careers while offering the possibility of concentrating in a particular business area. Comprising of 16 ECTS credits among a set of specified required and elective courses, the concentrations give students an opportunity to gain knowledge into an area of interest, thus facilitating a career switch or developing an existing specialty. With three concentrations plus the general track, students shape their academic experience to meet their personal career goals.
Business Administration (general track)
The Business Administration track prepares students for a range of demanding positions (e.g. General Management, Sales, Human Resources, Finance, etc.), as well as a career in Management Consulting. It offers the opportunity to select elective courses in any area of interest. Students that wish to deepen their knowledge in a specific field can select one of the following concentrations:
Concentration in Finance
Virtually all important business decisions have financial implications. Finance is concerned with the acquisition and allocation of resources – how a company goes about financing the assets it needs to run a business and how those assets can be put to their most effective uses. It also requires a comprehensive understanding of the corporate capital structure, the sources of capital, and, the priorities, needs, and concerns of investors (shareholders and lenders). This concentration prepares individuals for a career in the finance division of all types and sizes of companies addressing issues in financial management; corporate finance, venture capital, and corporate restructuring, as well as in management consulting.
Students in this concentration must complete 16 ECTS among the following courses (all electives are 4 ECTS):
The course aims to provide a good understanding of the principles of equity portfolio theory and investment management. Both theoretical and practical aspects of risk and return measurement for portfolios and individual securities are examined. In the process, the concepts of diversification, portfolio selection, construction, and evaluation are analyzed. Various equilibrium models of asset prices, against which market prices of securities are compared, are put forward. Portfolio performance evaluation is part of the course.
Under a broad definition, everything a business does may fit under the rubric of corporate finance. This course will equip students with the state-of-the-art tools, methodologies, and ideas needed in making the three basic decisions in corporate finance: Investment Decisions, Financing Decisions, and Dividend Decisions. Case studies and empirical applications with real data will be used to develop guidelines and practical skills needed to implement models for equity and debt risk, discount rates and valuation. Special importance will be given in incorporating the latest developments in corporate finance involving issues such as real options, asset-backed securitization, corporate risk management, and hybrid securities.
Mergers and acquisitions can be considered as a dynamic vehicle for corporate expansion and growth. Corporate practice has historically seen a pattern of merger ‘waves’ in various business sectors, although results have not always justified underlying motives. The course will provide a concise theoretical and empirical background on the topic, based on applied tools, methods and techniques. Case studies and empirical applications will be employed to elaborate on theoretical issues. The objectives, process, and motives of the M&A will be discussed, the economic consequences will be evaluated and the impact on target and acquiring firms will be analyzed. Emphasis will be placed on acquisition strategies, target-picking, merger valuation, and shareholder value implications.
The preparation and presentation of information that facilitates the allocation of resources within a business entity are the main objectives of managerial accounting. Managerial decisions rely extensively on budgets and cost allocations. The course covers topics related to the preparation of budgets, e.g. activity-based budgeting, and the allocation of the various costs, first to the different responsibility centers and then to the products. The course also presents cases that require the determination of the relevant costs and their application on issues of product pricing, outsourcing, and idle facilities, product mix decisions, etc. Important managerial decisions about capital budgeting, executive compensation, and product quality are also topics of this course. The primary emphasis of the course is on small case studies that require decision-making on the basis of different costs.
The course is designed to provide an introduction and comprehensive overview of concepts of Energy Economics and Policy (as well as Environmental and Resource Economics) to postgraduate students. The course introduces energy, resource, and environmental economics, as a sub-discipline of economics focusing on the interrelationships between the environment and the economy. It explains how the concept of economic efficiency in the allocation of scarce resources underpins cost-benefit analysis and decision making in energy, resource, and environmental management. Basic concepts in economic theory are first introduced, so that understanding is developed of how markets are supposed to achieve economically efficient allocations and why, when they fail to do so, the result is pollution and degradation. Understanding the failure of markets involves the key concept of the property rights regime. Much of energy, resource, and environmental economics is concerned with identifying when, and under what circumstances, failures in property rights and in markets are likely to occur and how best to correct them. The course also explores why economists attach importance to the monetary valuation of energy-related goods and services and introduces a number of techniques for doing so using various Greek, European and other International case studies. It provides a critical overview of current methods and their applications. It examines the main criticisms of the approaches that are available for non-market valuation. Finally in order to set the concepts and theories introduced in the context of current concerns relating to sustainable development the course examines the relationship between energy policy making and the concept of sustainable development. It introduces core concepts of ‘sustainability’ and considers the policy implications of applying these in energy (mainly renewable energy: solar, wind, waves, etc.) within the European and International policy framework.
Concentration in Marketing and Strategy
This concentration investigates the fundamental approaches to understanding markets, competitors, and portfolios of product offerings. It is of interest to students who are interested in pursuing a marketing career in the manufacturing and the service sectors, and to those interested in product and brand management. It is also relevant for those pursuing a management consulting career.
Students in this concentration must complete 16 ECTS among the following courses (all electives are 4 ECTS):
In this course the students become familiar with the main methodologies of market research for the introduction of a new product or service. The central topics are: The new product/service development process and the need for market research, approaches to sales forecasts, methodologies for desk and qualitative research (idea generation, personal interviews, focus groups….), and quantitative market research methodologies (sampling, questionnaire building, and data analysis). The students will choose a methodology that fits best with their new business/product/ service idea and will apply it in order to gather field data on their idea. The course is evaluated on the students’ presentations on their field research.
This course follows a multidisciplinary approach to examine and analyze the consumer as a decision-maker. Its main goal is to understand how fundamental consumer behavior concepts and principles can be used in marketing decision-making and strategic marketing actions. Topics covered include consumer decision-making models and information processing, consumer perceptions, loyalty and involvement, attitude measurement and change, consumer analysis and research, demo-psychographic research, interpersonal and social influences, buyer behavior, and strategic implications on market segmentation, product positioning and marketing communications.
The course will present how the concept of marketing can be applied in the case of business-to-business (B2B) markets. Contrary to traditional business-to-consumer (B2C) exchanges, the course aims to describe the fundamental aspects of marketing strategy in the case of B2B exchanges. In particular, the key characteristics of the B2B markets along with the concept of organizational buying behavior will be presented. Also, the marketing strategy (i.e., segmentation, targeting, positioning, 4Ps) in B2B markets will be described. Emphasis will be also placed on B2B services, customer relationship management issues and key account management techniques. Also, the course is designed to teach students how to develop marketing plans for companies seeking opportunities outside their home country. Students will learn to adapt extant product, price, promotion, and distribution strategies to the needs of consumers of the target country. Special emphasis will be placed on the cultural, economic, and political environmental aspects of international marketing.
The purpose of the course is to provide a geopolitical insight on business decisions. The world has vastly changed in the last 30 years. The fall of communism in Europe and Deng’s “four modernizations” in China lead many to believe that western capitalism had finally triumphed, in tandem with democratic liberalism. The extraordinary success of modern globalization is a direct consequence of these two historic events. The purpose of the course is to clarify i) the forces that shape the geopolitical world; ii) the interplay between geopolitics and business; iii) the increasing role of proprietary technology in the balance of powers.
Mergers and acquisitions can be considered as a dynamic vehicle for corporate expansion and growth. Corporate practice has historically seen a pattern of merger ‘waves’ in various business sectors, although results have not always justified underlying motives. The course will provide a concise theoretical and empirical background on the topic, based on applied tools, methods and techniques. Case studies and empirical applications will be employed to elaborate on the theoretical issues. The objectives, process and motives of the M&A will be discussed, the economic consequences will be evaluated and the impact on target and acquiring firms will be analyzed. Emphasis will be placed on acquisition strategies, target-picking, merger valuation and shareholder value implications.
Concentration in Technology and Innovation
This concentration provides students with solid theoretical, methodological and applied knowledge about technology’s impact on business transformation and growth. They will develop their ability to initiate, manage and lead technology driven transformation, learn how to use tools and methods for maximizing the strategic, operational, human and economic returns from the use of new technology, and develop understanding of the economic and social conditions of technology and innovation.
After successful completion of the concentration, students will be well prepared to tackle challenges related to new technology implementation, digitalization, impact of AI across functions and industries, with particular emphasis on supply chain and sustainability. This concentration is addressed students working or planning to work in any firm or industry where technology driven change, innovation, and entrepreneurial thinking are keys to competitive success.
Students in this concentration must complete 16 ECTS among the following courses (all electives are 4 ECTS):
The course introduces the students to the main areas and transformations in the current wave of digitalization. It presents trends and developments across business sectors and discusses strategic directions for various digitalization challenges. Specific themes include the creation of digital value, development of digital infrastructure, delivering IT applications, and the digitalization of product management, work management, and operations.
The use of data in modern data-rich business environments has been identified as one of the most crucial parameters in successful decision making. Data collection, processing and analysis are present in any daily activity: financial transactions, call records, smart phones, wearable devices. Terms like business intelligence, big data, business analytics, machine learning, GDPR, are in the epicenter of any business unit of an organization. This course introduces iMBA students to data management concepts, modern data analysis methods and data visualization techniques. These skills are necessary in our data-driven economy.
The course aims to present the “hot” field of Artificial Intelligence (AI) and how it can help organizations become more efficient and more effective in their decision-making processes. AI techniques have the objective to make machines think and act as human beings and these abilities can be developed through continuous learning from and adapting to historical data. AI can be used in many areas of our life, but this course will focus on how it can be used to aid organizations make more effective and more efficient business decisions. The course will develop and grow your perspectives on how technologies evolve and what this means for business, entre/intrapreneurship, industries, and your career. It will exemplify what roles and skills you and your team will need to develop in businesses leveraging and driven by data and related technologies such as AI.
The objective of this course is to introduce basic concepts and tools used in modern Supply Chain Management. The course covers topics related to supply chain planning, design, and operations. Special emphasis is placed on the strategic role of Supply Chain Management and the optimization of the customer level of service. Issues regarding the modeling of strategic, tactical, and operational decisions and the introduction of advanced technologies in Supply Chain Management are also discussed.
The course is intended to provide students with an overview of the different Global Sustainability Strategies, corporate and nonprofit perspectives, legislation, related risks, and opportunities. It aims at providing a better understanding of the individual elements and criteria necessary for the development and implementation of comprehensive global sustainability strategies and Reporting addressing the different needs of stakeholders. The course takes a strategic perspective on organizations’ Sustainability and the building of competitive advantage in highly competitive environments.
