MSc in Business Development

1. Name of master's programme: Business Development

2. Level of qualification obtainable in the master's programme and designation of professional qualification on the diploma:

• level of qualification: master's degree (magister, master; abbreviated: MSc)
• qualifications: Economist in Enterprise Development and Entrepreneurship

3. Field of training: Economics

4. Degrees accepted as prerequisites for admission to master's programmes

4.1. Full credit value can be taken into account: business and management, international business undergraduate programme.

4.2. The credits specified in section 9.3 may be taken into account primarily in the following areas: applied economics, economic and financial mathematical analysis, public service, trade and marketing, human resources, finance and accounting, tourism and hospitality, and basic training for business educators.

4.3. The following may also be taken into account when fulfilling the credits specified in Section 9.3: those bachelor's and master's degree programmes, as well as programmes specified in Act LXXX of 1993 on Higher Education, which are accepted by the credit transfer committee of the higher education institution based on a comparison of the knowledge serving as the basis for determining credits.

5. Duration of training in semesters: 4 semesters

6. Number of credits required to obtain a master's degree: 120 credits

• specialisation: balanced (40-60 percent)
• credit value assigned to the thesis: 15 credits
• minimum credit value for optional subjects: 6 credits

7. Classification of fields of study according to the uniform classification system for vocational training areas: 345/0413

8. The training objectives and professional competencies of the master's programme

The objective of the training is to train business development specialists who, with their internationally competitive, up-to-date and high-quality theoretical and methodological knowledge, are able to analyse the activities of small and medium-sized enterprises or other business organisations and solve complex development tasks. With their theoretical and methodological business knowledge of business development (innovation) and consciously developed management skills and abilities, they are capable of founding small and medium-sized enterprises, solving operational issues, providing consulting services for their operation, and performing middle and senior management tasks in various areas of domestic and international economic life. They are prepared to continue their studies in doctoral programmes.

8.1. Professional competencies to be acquired

8.1.1. Economist in business development

a) knowledge

• Has mastered the concepts, theories, processes, and characteristics of economics and micro- and macro-level economic organisation, and is familiar with key economic facts.
• Understands the structure and operation of economic organisations, their domestic and international networks, and their informational and motivational factors, with particular regard to the institutional environment.
• Familiar with the European integration process and the European Union's policies related to its activities.
• Possesses problem recognition, formulation, and solution skills, as well as modern, theoretically sophisticated mathematical-statistical, econometric, and modeling methods for information gathering and processing, and is aware of their limitations.
• Knows the rules and professional and ethical standards of business, economic organisations, and project planning and management.
• Knows and understands the basic and comprehensive concepts, theories, characteristics, and interrelationships of business development, as well as the scientific issues involved.
• Understands the structure, operation, and network of relationships within businesses, the environmental factors that determine business behavior, and the informational and motivational factors behind economic decisions.
• Familiar with assessment methods based on professionally sound analyses of the current position of businesses, taking into account internal characteristics and external environmental factors.
• Familiar with the assessment of financing sources necessary for the implementation of development (change) and methods of financial return analysis.
• Has extensive management and organisational skills.

b) abilities

• Formulates independent new conclusions, original ideas, and solutions; is capable of applying sophisticated analytical and modeling methods, developing strategies for solving complex problems, and making decisions in a changing domestic and international environment and organisational culture.
• After acquiring practical knowledge and experience, manages medium-sized and large enterprises and complex organisational units, performs comprehensive economic functions in business organizations, plans and manages complex business processes, and manages resources. Able to work effectively in an international, multicultural environment.
• Able to recognize the interrelationships and interactions within corporate management and to assess the relative importance of factors affecting future profitability.
• It organises and critically analyses the professional resources and data it has uncovered, including with the help of information and communication technology tools.
• Able to recognise requirements and development opportunities arising from international trends in business development and European policies.
• Develops an individual position based on their own analysis, is able to present it, and defend it in debate.
• In addition to performing job duties, after acquiring practical knowledge and experience, you will be able to manage a business, plan and direct complex management processes, and manage resources.
• Able to participate in large-scale and complex projects, group problem solving, lead, organise, and evaluate activities as a leader.

c) attitude

• He takes a critical approach to his own work and that of his subordinates, and demonstrates innovative and proactive behavior in dealing with economic issues.
• Open and receptive to new developments in economic theory and practice.
• Has a cultured, ethical, and objective intellectual attitude toward people and social issues, and in their work, they pay attention to broader social, sectoral, regional, national, and European values (including social, ecological, and sustainability considerations).
• Strives to develop his/her knowledge and working relationships, and encourages, assists, and supports his/her colleagues and subordinates in doing the same.
• Open to economic and social changes affecting business development, with social sensitivity.
• In his work, he/she is decisive, constructive, cooperative, and proactive.

d) autonomy and responsibility

• Independently selects and applies relevant problem-solving methods in areas of significance in terms of organisational policy, strategy, and management, and independently performs economic analysis, decision preparation, and advisory tasks.
• Independently establishes, organises, and manages larger enterprises, organisations, or organisational units.
• Takes responsibility for their own work, the organisation they manage, their business, and their employees.
• Independently identifies, plans, and organises their own and their subordinates' professional and general development, taking responsibility for it. 
• Independently plans the areas of operation of the business, the development of strategies, organisational processes, and employee cooperation both within and outside the organisation.
• Analyses and evaluates the experiences of the company's operations, manages the responsibility that the results obtained during the analyses and practical procedures also depend on the chosen method.
• Takes responsibility for their work and for the relationships they build with colleagues and partners.

9. Characteristics of the master's programme

9.1. Professional characteristics

9.1.1. The disciplines and fields of study that make up the programme and lead to professional qualification:

• economic and social sciences (corporate strategy, financial analysis, business innovation, social and economic forecasting, corporate budgeting, research methodology) 25-35 credits;
• professional knowledge of business development (project management, innovation methodology, corporate finance and financial strategies, corporate decision support systems, entrepreneurship, business communication, innovation and business development policy, business and globalisation, market strategies) 35-45 credits.

9.1.2. Taking into account the optional specialisations, special knowledge can be acquired in the fields of managerial economics, controlling, business consulting, and evaluation methodology, with a credit value of 25-35 credits.

9.2. Requirements for professional practice

The professional internship related to the thesis is determined by the curriculum.

9.3. For holders of the certificates specified in sections 4.2 and 4.3, the minimum requirements for admission to the master's degree programme are:

The minimum number of credits required for admission to the master's programme is 30 credits in the following areas:

• 8 credits in methodological knowledge (mathematics, statistics);
• 10 credits in theoretical economics (microeconomics, macroeconomics, finance);
• 12 credits in business studies (marketing, business law, business economics, accounting, corporate finance).