What is Management Science?
Management science is the application of the scientific method to the study of the operations of large complex organisations or activities. The management science encompasses however more than just the development of models for specific problems. It makes substantial contributions in a much broader area. The application of the output from management science models for decision-making at the lower, middle and top management levels.
Basically, the management science can be defined as a problem-solving process used by an interdisciplinary team to develop mathematical models that represent simple to complex functional relationships and provide management with a basis for decision-making and a means of uncovering new problems for quantitative analysis.
Introduction to Bachelor of Management Sciences
The Bachelor of Management Science (BMS) is a bachelor’s degree that encompasses a range of business subjects, such as finance, analytics and statistics. It is designed to prepare students for managerial positions, which require interpretation, decision-making and leadership. The course has a multidisciplinary atmosphere which focuses on innovative technologies to efficiently run different businesses.
The course includes decision support systems, quality control and supply chain management in order to succeed in this industry, individuals need to have good critical thinking and analytical skills.
Specialisations for BMS course
Some of the important specialisations of BMS course are:
- BMS Aviation Management
- BMS Branding and Entrepreneurship
- BMS Digital Business
- BMS International Finance with CGMA, UK
- BMS International Business with Chartered Institute of Marketing, UK
- BMS Financial Services Integrated with Chartered Insurance Institute, UK
- BMS Tourism and Hospitality Management accredited by Institute of Hospitality
- BMS International Marketing Integrated with Digital Marketing Institute of Dublin, Ireland
- BMS Strategy & leadership Integrated with US, CSCA and institute of Leadership Management, UK
- BMS Event Management
- BMS Sports Management
Eligibility for Bachelor of Management Science
The students who have completed their PUC or 10+2 in any stream with 50% aggregate from recognised board are eligible to apply for the BMS course.
Admission Procedure
The students with relevant qualifications can join the BMS course by two modes. The first one is Merit based admission and the second one is direct admission.
Let’s discuss in detail
1. Merit Admission
There are many top educational institutes that conduct entrance exams for the BMS course. This mode is called merit admission mode. The entrance exams are conducted to select the serious and hardworking students from the group of non-serious candidates to the available limited number of seats in the colleges. The qualified students are allotted the merit seats and are given admission, the fees is fairly nominal for merit admissions.
2. Direct Admission
The students have another option of getting admission to BMS course by direct admission process. Under this mode of admission, the students are given direct admission to their desired colleges under management quota. The direct admission students enjoy many special privileges like they are not required to apply for any institution-based entrance exam for getting admissions. They have an option to choose their desired colleges and book their seats even before the starting of the academic year. The students who are interested in direct admissions are required to contact Galaxy Educational Services for more details.
Course Curriculum
The students of BMS will be studying the following subjects during their course duration
| Sl No | Subjects of Study |
|---|---|
|
1. |
Management Concepts |
|
2. |
Mathematics for Managers |
|
3. |
Human Resource Management and Behaviour Management |
|
4. |
Marketing Management |
|
5. |
Accounting |
|
6. |
Business Application Spreadsheet |
|
7. |
Enterprise Resource Planning |
|
8. |
Business Law |
|
9. |
Fundamentals of Management Accounting |
|
10. |
Digital Marketing and Essentials |
|
11. |
Quantitative Techniques |
|
12. |
Environment Studies |
|
13. |
Business Research Methods |
|
14. |
Financial Management |
|
15. |
Business Negotiation |
|
16. |
Communicative English |
|
17. |
Retail and Supply Chain Management |
|
18. |
Taxation |
|
19. |
Corporate Strategy |
|
20. |
Operations Management |
|
21. |
Strategic Management |
|
22. |
International Business Environment |
Career & Scope
There is a huge demand for students with Bachelor of Management Sciences (BMS) degree. Since the BMS degree is internationally recognised, many global MNCs look for skilled BMS graduates in large numbers.
Salary and Emoluments
The fresh BMS students will be earning around 6 lakhs to 8 lakhs per annum. The experienced professionals will be earning around 8 lakhs to 16 lakhs per annum.
Top Organisations hiring BMS students
Some of the top organisations hiring BMS students are:
- JP Morgan Chase
- Fidelity Solutions
- Capgemini
- Dell
- HP
- Goldman Sachs
Placement Opportunities
Some of the important job roles available after Bachelor of Management Sciences are:
Global Management Consultant: The role of a global management consultant is to assist an organisation in setting operations in a foreign market successfully. As companies are expanding and looking for more lucrative shores, these experts come useful in identifying the best options and undertaking other important procedures. A global management consultant studies current operation of a business and helps in cost management and an overall improvement in productivity and efficiency when it comes to setting company operations in other markets.
Global Business Development Manager: The role of a global business development manager is to make strategy-based goals for maximum profitability overseas. They should be able to understand the organisation’s requirements and give a defined shape to their goals. In this job role, one will be required to work closely with the global sales and marketing team to align them with business requirements. The global business development managers are also called upon for negotiating business deals and boost overall revenue of the company.
Global Supply Chain Manager: The global supply chain managers are responsible to handle the global supply chain systems in an organisation. The organisations need someone who can look for reliable vendors in new markets and global supply chain managers come into picture. A global supply chain manager is responsible to maintain best supply chain strategies that work for a particular market or product. As part of the job role, the global supply chain managers work with business consultants and find vendor organisations that can provide the organisation with an adequate quantity of goods at the right time-intervals.
International Trade Specialist: An international trade specialist is someone who performs multiple responsibilities like offering advice on matters like federal and foreign regulations, tariff and more to procuring payments for all kinds of import and export operations.
Multinational Marketing Manager: As a global or multinational marketing manager, one is required to be on a lookout for trends in foreign markets and conduct valuable advertising campaigns. As part of this profile, the multinational marketers will be managing and maintaining the brand reputation of the business product as well.
Final Lines
There is a good demand for BMS students in the global job markets. The BMS students can find ample job opportunities across diverse areas and organisations. The skilled BMS students are paid handsome salaries and can expect excellent career growth in the field. The students with a passion towards management can join this course.