Structure of the specialisation in Management Control

Structure of the specialisation in Management Control

Goals, learning outcome, assessment and modules for our EMBA with spesialisation in Management Control

  • Goals for the specialisation

    Goals for the specialisation

    The specialisation is a unique interdisciplinary study that provides a current and future-oriented management education. Through problem-based learning, students will learn how to understand and analyse value creation in companies, and how to increasing sustainable value creation through decisions, management and leadership.

    The study provides you with:

    • Research-based knowledge within a wide range of strategy, economics, and management subjects, with emphasis on key development trends in sustainability, technology, and internationalisation.
    • Good analytical skills in areas such as strategic analysis, profitability analysis, accounting analysis, investment analysis, valuation, etc.
    • Updated knowledge on how various management tools can be used strategically to increase the company's value creation, in light of new technological opportunities and challenges.
    • Skills in applying theories and tools, by working with actual issues in businesses.
    • Methodological knowledge and skills to initiate and carry out an independent research project.
    • Opportunities to build networks for learning and development, both in and outside the teaching situation.
  • Learning outcome

    Learning outcome

    After completing the programme, candidates are expected to have achieved the following overall learning outcomes defined in terms of knowledge, skills and general competence:


    The candidate has

    • in-depth knowledge of key topics from the discipline’s strategy, management, organisation, marketing, operational analysis, accounting, finance and economics (microeconomics and macroeconomics)
    • specialist insight into financial management and how different financial management tools can contribute to the development and implementation of strategies and plans, including taking an active approach to the risk taken and utilising the possibilities offered by information systems
    • broad insight into the opportunities and challenges managers in organisations encounter at the operational and strategic levels, including the effect of cyclical, demographic, ethical, environmental, social and technological changes and risk factors on society and on the organisations
    • knowledge of how enterprises can utilise new technology in the form of digitalisation and new business models
    • knowledge of how creativity, innovation and transfer of knowledge can be influenced in small, newly formed organisations and larger, established enterprises
    • knowledge of how ethical conduct and sustainable development goals can be included as a natural part of strategic and financial analyses, as well as in an enterprise's management system (including risk management)


    The candidate is capable of: 

    • using advanced methods to analyse the profitability of products, customers, business models, entities and enterprises
    • analysing enterprises' comparative advantages and how they can be developed and strengthened
    • using advanced analysis tools to improve decision-making, including analyses of costs, customer profitability, strategic options, accounts, projects, financial investments, and the value of enterprises
    • applying his or her knowledge about management to relevant management situations (e.g., management of a team, changes, or negotiations in different cultural settings)
    • taking a critical approach to different sources of information and using them to structure and formulate arguments in the relevant fields
    • studying various issues as part of research and consultancy projects using recognised quantitative and non-quantitative methods

    General competence

    The candidate

    • has a good understanding of fundamental mechanisms and tools, so that his/her knowledge and skills can also be applied to new issues in a digital era
    • is capable of reflecting on ethical issues and sustainability in his/her own organisation
    • is capable of communicating extensive independent work in writing using language that is appropriate to the specific field
    • is capable of discussing subject-related issues and analyses with specialists as well as with the general public
    • is capable of contributing to fresh thinking and innovation processes
  • Assessment


    Students are assessed both individually and in groups during the study. The group work takes place in connection with the master's dissertation, while individual assessment is given for individual home exams.

    • Individual home exam (grades A – F): At the end of each semester, students have an individual home exam where they are tested in the theories and topics covered in each subject module.
    • Independent work (pass/fail): The students must throughout the course of study work with written works that amount to a total of 30 ECTS. The written works must overall show understanding, reflection and maturation. Students have access to academic supervision throughout the study.
  • Module 1: Strategic profitability analysis and customer orientation

    Module 1: Strategic profitability analysis and customer orientation

    In this module, we focus on product and customer profitability. The module starts with a modern understanding of enterprises’ cost structure and how this is influenced by new technology. We then look at how this understanding can be useful in decision-making situations for different purposes. Particular emphasis is placed on decisions of a strategic nature, e.g. what products and client segments we should target and what business model we should choose for the enterprise. Technically speaking, we look at activity-based costing and management, profit potential, customer profitability and segment analyses. The calculation of capital costs (interest and depreciation) is an important part of the analyses, and we discuss how the required rate of return should be fixed. Another key element is how companies can utilize customer data in various decisions. This module also introduces topics such as marketing, digital innovations and management.

  • Module 2: Strategy, management and accounting

    Module 2: Strategy, management and accounting

    In Module 2 our focus shifts from products and customers to organizational units. Here we discuss and integrate strategic analysis, financial analysis and sustainable business models. The module starts with a review of important strategic analysis tools, with the emphasis on analysis of the competitive arena and strategic resources. Financial analyses provide important input to the strategic analyses. We take the perspective of an external analyst as our point of departure, and key figure analysis is combined with insight into accounting principles. In the course of strategy work it is natural to consider what is ethically justifiable and how sustainable business models can be developed. The focus is then shifted toward the use of non-financial key figures and dynamic management systems, which are discussed in comparison with more traditional budgeting practices. We also look at how organisation and management are related and consider whether risk management could be an integrated part of the organisation's management system.

  • Module 3: Innovation and change management

    Module 3: Innovation and change management

    In Module 3, we examine innovation and change from a strategic, managerial, technological, and economic perspective. We begin by looking at change from a strategic and managerial perspective. Here, we explore digital transformation and how changes are managed and implemented (change management). We also consider how the HR function can and should adapt to such changes. During a study stay at Bocconi University (Milan), we learn more about how differentiation strategies can be developed and implemented. At Bocconi, we also discuss how framework conditions, industry structure, and corporate culture vary between countries. Back in Norway, we further discuss how technological innovation provides opportunities for new business models. Changes may involve larger investments, and in this module, we also learn how to assess the profitability of investments when the gain comes far into the future. Throughout the module, students learn about quantitative and qualitative methods for research and consultancy work, to provide them with a solid foundation for their master's thesis work. Overall, the module aims to provide an understanding of how businesses can develop, evaluate, finance, and lead new projects involving change and innovation.

  • Module 4: Finance and management

    Module 4: Finance and management


    In Module 4, we begin by looking at how businesses can be financed and what financial instruments can be used to reduce risk in a business. This part also includes how we can evaluate financial placements in various asset classes, including assessments of non-listed companies. We then combine knowledge from previous modules to value a business. This requires both strategic and economic analyses, set against future development opportunities. Acquisitions and mergers create new challenges in terms of governance and management, and we discuss how businesses can be organised into responsibility centres and how internal markets with internal pricing and economic incentives for individuals can be used in an organisation. We further discuss organisational culture and management, and how negotiations are conducted. Our discussions on governance and management in this module are also linked to what we have learned about these topics in previous modules to create comprehensive management systems that can contribute to increasing sustainable value creation in businesses. Module 4 concludes with a study stay in Asia, where we learn more about how businesses can expand across national borders and the challenges this poses for governance and management. Students work on their master's thesis throughout the module.

  • EMBA master's thesis (Capstone Project)

    EMBA master's thesis (Capstone Project)

    The final part of the study focuses on the independent work (the master's thesis). The work begins in the fourth module with students grouping and working on choosing a topic for the thesis. This is integrated with method teaching and a gradual specification of the thesis problem. Common guidelines for the master's thesis have been established for all specialisations.

    The writing of the master's thesis is combined with two gatherings. At these gatherings, the progress of the projects, integrative aspects, and academic updates are discussed, including the macroeconomic situation.