M.Sc. in Strategic Management & Consulting

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Master of Science in Strategic Management & Consulting (M.Sc.) in Germany

Master of Science in Strategic Management - Why should you study it?

With its comprehensive training concept, the master of science in strategic management & consulting prepares you optimally for positions in management or consulting companies. Within four semesters, you will thus become able to make far-reaching decisions for your future employer on the basis of figures and facts.

What strategy change should a company implement? And which consulting tools and techniques do you use to base your evidence on to justify this change in strategy to the management? In your master’s degree in “Strategic Management and Consulting” you will not only acquire a comprehensive understanding of the entirety of a business model, but also apply a comprehensive Consulting Tools Kit that will prepare you ideally for the demands of the professional world. After successful completion of your consulting studies you will be awarded the title “Master of Science”.

Targeted further development of consulting and management skills

Can you imagine using your analysis and decision-making skills to successfully manage your company? In our English-language master`s programme in Consulting you will acquire all the necessary specialist and methodological skills for this: you will deal intensively with the digital aspects and considerations of sustainable management and take a look at the topic of “Business Models”. The major changes in traditional industry structures and the continuous transformation of successful business models – especially in times of digitalisation – require clever strategic approaches and answers, which you will acquire in the “Strategic Renewal” course. In addition, you will develop an understanding of business start-ups and your own start-up idea as a basis for management consulting in subjects such as

Strategic Investment Decision and Risk Management
Strategic Renewal and Digital Business Models
Environmental Impact Management
Corporate Governance

Master of Science in Strategic Management at a Glance

Campus

Cologne

Start of Studies

Winter

Semester

ECTS

120

Study Fee*

5.730 €

All facts in detail

Language English
Type of Study Full-time
Degree Master of Science
Internship Integrated**
Semester Abroad Integrated**

Start of Studies Winter Cologne

*The displayed prices are semester fees. For non-EU students' fees please check the tuition fees information page. Status: January 2024.

Study Course Plan

Some information about the study plan for the study programme Masters in Strategic Management:

General business teaching units

Business Economics3 ECTS

Analysis of demand, supply, and market equilibrium
Theory of consumer choice
Theory of the firm, production and cost analysis
Market structures: perfect competition, monopoly, monopolistic competition, oligopoly, contestable markets
Game theory
Pricing strategies
Factor markets, labor economics
Economics of information
Industrial organization
Limitations of markets and interventions by the government
Econometric techniques related to these topics

Empirical Research Methods3 ECTS

Development of a research question
Primary vs. secondary data
Steps of research process
Research designs
Quantitative and qualitative data
Structured methods of data collection: questionnaire and structured interview
Un- and semi-structured methods: qualitative interview and focus group
Quantitative and qualitative content analysis
Ethical considerations of data collection
Sampling
Data analysis using statistical software programs (SPSS)
Univariate analysis, bivariate analysis (crosstab and correlation), multiple linear regression
Writing a research report – structural and other formal requirements

Strategic Analysis & Management3 ECTS

Strategy making process and strategic reasoning: cognitive process of strategy
creation through the prism of logic and intuition
Setting strategic purpose in the context of responsible stakeholder management
Advanced external environment analysis: markets, industries and competitive
landscapes in static and dynamic perspective in the domestic and international
context
Diagnosing and managing strategic capability through national borders over time
Cultural and institutional context of strategic management: concepts, frameworks
and analytical tools
Generic and interactive business strategies, inside-out and outside-in perspective on
achieving and sustaining competitive advantage internationally
Network-level strategies
Corporate development and configuration: strategic options and portfolio matrices
Strategy formation
Strategic change and corporate restructuring
Strategic renewal
Strategy evaluation and strategic controls: tools and methods
Organizing for success

Innovation Management & Digital Transformation3 ECTS

Diagnosing the change context: diffusion and dynamics of innovation
Sources & types of innovation
Product/service, process & business model innovation
Individual and corporate creativity
Strategic innovation management & the innovation process incl. New Product Development (NPD)
Introduction to digitalization, digital age & digital divide
Digital drivers & disruptive forces
Technological drivers of digital transformation
Socio-technological change associated with the adoption of the mentioned drivers
Introduction to the digital organization & digital business models
Impact of digitalization on the value chain (Industry 4.0)
Digitalization-related innovation theories & technology management
Digitalization leadership & organisational transformation concepts
Change management & transformational leadership
Agility and VUCA world
SCRUM and Design Thinking

Programme specific teaching units

Consulting Techniques3 ECTS

Management consulting as a management activity
Management consulting as an industry and profession: areas, history, development in the era of globalization
Controversies and ethics of management consulting
Consulting engagement as problem solving exercise
Analytical and interactive data processing and forecasting methods
Analytical problem solving approaches and techniques
Creative approaches to problem solving and decision making
Evidence-based decision making methods
Structured and logical report writing techniques
Effective communication techniques

Evidence-Based Problem Solving - CaseLab3 ECTS

Strategy process
Strategic thinking
Strategy formation
Strategic content and context
Organizational context
Industry context

Data Science3 ECTS

Machine learning, AI and neural networks
Information visualization
Big Data and statistical methods for big data analysis
Data mining
Database systems (e.g Hadoop, Kubernetes)

Business Intelligence3 ECTS

Introduction in Business Intelligence
KPIs and Dashboards
Report definitions
Multidimensional Modeling
OLAP
Data warehouses within a company infrastructure
Interfaces and ETL
BI Software Products

Interdisciplinary competencies

International Project Management2 ECTS

Social competence: Communication, motivation, groups and team structures, leadership, conflict management
Methodological competence: Structural aspects, time management, cost management, human resource management, creativity and problem solving
Organisational competence: Quality management, documentation, risk management, project start and closure

Language & Communication Skills2 ECTS

The “Scholarly Writing and Analysis” course is offered for German native speakers. German as a foreign language is offered as an obligatory course for Non-native German speakers.

General business teaching units

Corporate Social Responsibility3 ECTS

Cornerstones of sustainable management
CSR as management approach
Practical approaches of organizational effectiveness
Tools for CSR implementation
CSR and financial performance
Life cycle assessment

Corporate Governance3 ECTS

Historical developments around the world
Directors and board structures in different parts of the world
Family business governance
Role of institutional investors
Corporate governance in mergers and acquisitions
Socially responsible investments
Corporate governance in different regions

Value Based Management3 ECTS

Value maximization and corporate objectives, shareholder value and stakeholder value approach
Financial measurement of corporate strategies and competitive advantage: the principles
Shortcomings of traditional profitability ratios for a value-based management
Economic Value Added, Cash Value Added
Identifying the drivers of value creation and investment decision-making
Management compensation and incentives for value creation

Sustainable Supply Chain Management3 ECTS

Defining the state of a sustainable supply chain based on actual trends
Discussion of various theoretical concepts (e.g. Stakeholder Theory, Slack Resource Theory) and their implications for sustainable supply chain management
Defining a “New Normal” of how to do business (e.g. circular economy, regenerative business models, carbon literacy training)
Sustainable Marketing (definition, Green Marketing Strategy Mix, Green Washing and Sustainable Consumer Buying Behaviour)
Sustainable Procurement (definition, Sustainable Procurement Process Model with a focus on sustainable supplier relationship management; new trends like circular procurement)
Sustainable Logistics
Sustainable Design
Carbon Emission / Human Rights in global supply chains

Programme specific teaching units

Strategic Investment Decision & Risk Management3 ECTS

Investment decisions under conditions of uncertainty
Types of Investments and disinvestments
Investment Decisions under capital constraints
Strategic Analysis of selected investment decisions
Funding Decisions
Financial Distress

Experience Lab: Search Engine Marketing3 ECTS

Introduction: definition
Search Engine Optimization / SEO
Keyword research
On-page SEO
Web analytics and SEO tools
Search Engine Advertising/ SEA
Campaign settings

Business Project6 ECTS

The overall objective of this course is to provide students with possibility of applying their business knowledge on concrete business situation, related to the field of their specialization.

By the end of the module students should be able to:

Define project goals for the “client”.
Work under the set timeframe and agreed project scope.
Cooperate in the international project teams.
Evaluate markets/ industries/ competitive landscapes.
Develop possible strategic directions for the “client” business.
Formulate recommendations.

Elective area

Business Elective3 ECTS

A business elective is a business or management-related elective course.By choosing Business Electives in the second and third semester you can personalize your degree course and extend your management knowledge.

Interdisciplinary Elective3 ECTS

By choosing Interdisciplinary Electives in the second and third semester you can personalize your degree course and extend your management knowledge. An interdisciplinary elective is an elective from another discipline than your own specialization.

Interdisciplinary competencies

Assessment Center Bootcamp 2 ECTS

Consulting Industry: Sector Overview Company Profiles – Job Opportunities and Consulting Careers
Job profile: Characteristics of capabilities and skills needed as a consultant
Job application and interview training
Consulting (mini) case study training
Framework for processing case studies
Brain Teaser Training
Case Simulation (Individual and Group Cases)

Programme specific teaching units

Industry 4.0 & System Engineering3 ECTS

Innovative concepts, technologies and systems which are required for Industry 4.0
Use cases (Digital Twin, Predictive Maintenance, Condition Monitoring ) for Industry 4.0
Maturity and Readiness Model for Industry 4.0 Strategy
Business models in Industry 4.0
Systems analysis, systems design, systems architecture

Environmental Impact Management and Marketing3 ECTS

Historical developments and environmental policies: Evolution and role of industrial ecology and environmental management
The transition from a linear to a circular economic system
Industrial Metabolism, Dematerialization, Cradle to Cradle (C2C) & Circular Economy
Life-Cycle-Impact Portfolio and Life-Cycle-Assessment: Stages of LCA process, interconnectedness to supply chain

Strategic Renewal & Digital Business Models3 ECTS

Corporate strategy
Development of a corporate strategic concept
Corporate strategy evaluation and development of strategic options
Emergent and prescriptive approaches

Applied M&A & Restructuring3 ECTS

Corporate strategy evaluation and development of strategic options
Emergent and prescriptive approaches
Gap closing strategies
Buy strategies: Mergers and Acquisitions
Build strategies: Strategic renewal, organic corporate development strategies
Ally strategies

Venture Lab4 ECTS

Discovering and evaluating entrepreneurial opportunities
Developing business ideas from opportunities (e.g. based on using Design Thinking, Personas and User Stories).
Feasibility analysis of business ideas
Transferring the idea into a Business Model
Business Model and its building blocks (value proposition, customers segments, channels, customer relationships, revenue model, key partners, key activities, key resources, cost structure)
Business Plan: Introduction, Sample Case and General Outline
Developing the details of the business plan
Finding sources of financing: Business angels; Private equity; Start up financing; Venture capital investors
Preparing a pitch deck for successfully presenting the new venture business plan

Integrative Case Studies3 ECTS

Focused review of the curriculum content
Pre-assessment quiz/ content area assessment as benchmark for students’ status quo
Guide and Strategic Plan to Case Study Analysis
Writing a proper Case Study Analysis report
Developing proper answers to Case questions, applying the relevant theoretical knowledge and frameworks
In-depth Case Study Analysis with focus all subject areas of the curriculum
In-depth Case Study Analysis with special focus on Strategic Management

Business Simulation Game3 ECTS

In a business simulation game participants have to manage their own virtual company which operates in the same market as other participant-operated competitors. This involves making typical management decisions in realistic environments. Beside the deepening and active examination of subject-specific knowledge the simulation games also include the team environment, where interaction, communication and prioritization are of paramount importance. Participants learn how to manage risk and uncertainty while time is limited and information constrained. Group-reflections help to take over different perspectives and to discuss pros and cons of content- as well as behavior-related actions.

Master Thesis Tutorial2 ECTS

During the Master Thesis Tutorial you will learn the fundamentals for your Master thesis: Defining the topic as well as structuring the thesis and you will learn the theoretical knowledge for scientific working.

Elective area

Business Elective3 ECTS

Interdisciplinary Elective3 ECTS

Interdisciplinary competencies

Event Management (Ted Talk) Seminar3 ECTS

Basics of event management
Objective of the event and different types of events
The event as a marketing and communication tool
Planning and preparation
Event execution
Tasks and role of the event manager
Choosing the right venue
Personnel selection

Programme specific teaching units

Master Thesis18 ECTS

During your 4th semester you are working on your Master thesis. You have 19 weeks to complete your thesis and the subject is freely selectable. A supervisor from CBS will support you and you can write the thesis in collaboration with a company as well. Or you can write your thesis in connection with a stay abroad.

Internship or Study Abroad10 ECTS

You can choose between an internship (lasting at least eight weeks) or a semester abroad at one of our partner universities.

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Career perspectives

What are the future career prospects in strategic management and consulting?

Consultants are the first point of contact when it comes to steering a company on the road to success. In the first two semesters you will deal intensively with the change of business models, value chains, strategic-organisational changes in the company as well as approaches and methods of strategic management. How does digitisation affect companies? And what challenges does the economy face in the context of Industry 4.0? These and other questions are aimed at the special underlying conditions of companies today and are dealt with intensively in courses such as “Innovation Management and Digital Transformation” and “Industry 4.0 and System Engineering”.

Strategic Management Career Path - What are the job opportunities?

A master’s degree programme in “Strategic Management & Consulting” opens up attractive career opportunities in various fields of work:

Management consultancy
In-house consulting
Strategy consulting
Corporate development
Project management
M&A advisories
Assistance to the management
Strategic positions in family businesses
Activities within the manufacturing industry
Activities within start-ups

The expertise of a consultant is in great demand across all sectors. For example, they work in the IT sector, logistics, banking, technology and telecommunications, as well as in the chemical and pharmaceutical industries. Even if you don’t want to commit yourself to one industry within your studies – with the title Master of Science in “Strategic Management and Consulting” all paths within the consulting industry are open to you. In addition, you are also excellently qualified for a subsequent doctorate as the basis for an academic career.

Build up your expertise with a graduate degree

Take your next step

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Practice-oriented teaching content: Consulting Techniques and Consulting Tools

Speed and efficiency are trumps in management consulting. Experienced consultants draw on proven tools to develop optimal strategies in the shortest possible time. During your master’s degree course in “Strategic Management & Consulting” you will learn these methods in courses such as “Consulting Techniques” and immediately test them in a “Student-centred learning approach” using case studies from successful companies in the course: “Evidence-based Problem Solving – Case Lab”. In addition, you will apply the methods learned in a real business context in our practical phases, such as an internship and a business project.

Innovative skill formats: Pitching and Assessment Center Bootcamp

Put your knowledge and skills to the test in our business skills training courses: Our “Assessment Center Bootcamp” prepares you intensively for the examinations in assessment centres of large management consultancies. You will not only critically examine the various questions and questioning techniques but can also test your stress resistance in a fake selection process. The following skill formats are also taught in the second semester:

Ted Talk Seminar
Business Plan Writing and Pitching

Master in Consulting: In-depth knowledge in international business

Consultants need a broad understanding of business administration in order to find effective solutions for business challenges. They achieve their project goals by examining the individual starting position, identifying new opportunities early on and realising them within the company in a resource-saving manner. During your master`s in Consulting you can expect the following in-depth teaching content:

International Economics
Business Economics
Applied Management Accounting
Empirical Research Methods

Developing analytical skills

During your master`s in Consulting you will learn different methods for analysing large amounts of data (Big Data), on the basis of which you can make your operational decisions with confidence. In our module “Innovative Data Analysis” you will also deal with the topic of “Business Intelligence” and learn how to find number-based, goal-oriented solutions. In addition, you can develop your analytical skills in these courses:

Industry 4.0 and System Engineering
Environmental Impact Management
Data Science

High practical relevance in the Consulting master's

Practical experience in strategic management and consulting should not be underestimated: In consulting, decisions with wide-reaching consequences are made, which do not always meet with a positive response from customers or management. This requires tact and assertiveness, which can best be acquired through practical experience: During your master`s in “Strategic Management and Consulting” you will complete an internship and work on real business cases in a business project with our practice partners or in our business simulation game.

The aim of the degree programme is to prepare students as well as possible for entering the workforce and for their future careers. Therefore, the practical transfer of specialised knowledge in the Business Project, a Capstone Simulation Game and an optional internship semester at home or abroad are part of the study programme.

You can choose whether you write your Master's thesis in cooperation with a company during an internship or during a semester abroad at one of our more than 120 partner universities.

This is what our students say

Philip Kollmann

Project Manager
Wayne´s Coffee

"Especially the soft skill courses have been of great help for my performance in job interviews. Through my work in the Finance and Business Club I have built up a broad network and acquired project management skills that have enabled me to score points with companies."

Katrin Rieger

Bereichsdirektorin Reisevertrieb Deutschland / Vice President Sales
HanseMerkur Krankenversicherung

"The practical learning in small groups prepared me optimally for today's project and team work. The CBS provided me with the decisive soft skills and current knowledge from the world of business."

Christopher Rosenbaum

Manager
Ernst & Young GmbH
Wirschaftsprüfungsgesellschaft

"The Management Studies programme prepares you thoroughly for the tasks of a consultant. In particular, the development of presentation techniques as well as analytical thinking is of enormous importance in the everyday life of a consultant."

Oliver Kiderle

EMEA Regional Product Expert
Google Inc.

"The focus on internationality and practical skills have had a very positive influence on my development at Google. Especially the structured and very versatile project work, which is often found at a private school, was extremely helpful."

Kalle Kenkel

Commercial Excellence Manager
GE Healthcare

"My studies at CBS prepared me for a career in today's dynamic, global work environment. As one's origin and physical location become less and less decisive, it has become increasingly important to have a multinational network and adapt quickly to various cultures and environments."

Neil Jordaan

Global Digital Content Manager
Elanco

"Many professors shared their professional business experience with us in class and were able to illustrate dry theory with practical examples. I also enjoyed the international atmosphere on campus."

Patrick Stein

Head of Human Resources
Boston Consulting Group

"The strongly practice-oriented studies and the international orientation of the CBS, as well as the lectures held in English, were an absolutely necessary basis for starting a career with a renowned, international company."

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