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The
Rise and Rise of
Business Education in Cyprus
Business
and Management as a field of study started in Cyprus only a few
decades ago. Since then an impressive rate of growth has been registered
both in number of students who are interested to study this popular
area as well as in the diversity of course offerings. Some of the
more plausible explanations for this phenomenal rate of growth in
this particular area of education are set out below: 
- Whilst some
hundred years ago the formal study of business was practically
unknown management and business studies have now overrun all other
fields of study in terms of student preference. That is why one
witnesses a scramble for places in business departments by students
wishing to earn a diploma or degree in this area with a view to
enhancing their opportunities in the market place.
- A cursory
review of the “vacancies” columns in the Greek language
papers quickly makes one realise were the opportunities for employment
lie. Young men and women come across such advertisements everyday
and they have thus been inculcated with the idea that without
a business degree one is almost handicapped in his search for
a challenging job. This is why so many young men and women with
good degrees in the sciences and other “hard” subject
areas feel the need for a conversion course into business to enhance
their chances for employment.
- Cyprus has
historically played its role as a trading route and people have
always been exposed to the challenges and opportunities of business.
An old Greek saying, which one often hears repeated even today,
loosely translates as, “you better get involved in trading
if you wish to make a living in Cyprus. Otherwise, pick up your
bags and go (emigrate).”
- The fact
that Cyprus is on the door-step of the European Union, and with
full membership just around the corner, provides an impetus for
many youngsters to get an education which is easily marketable
and can help them get a job in any United Europe country. And
here is where courses taught in English come in handy, considering
the widespread use of this language in many European countries.
 We
at Philips College have taken the message and have painstakingly
developed our Business and Management courses offering quality programmes
aiming to meet the needs of the market. The department identified
four key business studies areas and then developed market-centred
quality courses, all taught in English. Results appear to support
that the Philips strategy is working out well and to the benefit
of the student. All these programmes blend well the development
of solid analytical skills with practical applications giving the
student a head advantage in terms of employability. I have the feeling
that the Philips programmes, which follow below, give a good picture
of what is happening in the field and can enlighten the reader as
to which form business education takes in Cyprus.
The College
offers the following Business and Management streams: A) The Marketing
stream, which offers an integrated cycle of study reflecting the
pivotal role played by the marketing function in an expanding and
ever-competitive business world. B) The International Banking and
Financial services stream, which aims to bridge the gap between
the need for a firm theoretical training and the need for a solid
grasp of the applied nature of the discipline in the context of
International Financial Services. A country, which aspires to become
a regional financial centre, finds such courses very helpful in
its drive to secure such vital skills. C) The insurance stream was
developed in response to the specific and growing requirements of
such a vibrant and dynamic sector of the Cyprus economy considering
the expected growth rate of this sector. D) The General Business
stream offers a wide and representative sample of subjects and gives
the student a good understanding of how the world of business works.
In addition the College offers an MBA programme.
 The
future of Business and Management studies looks more and more promising
as we in Cyprus enter into the new era-- the era of membership to
the European Union. We believe that the peak has not been reached
yet and that we all have more work to do and more programmes, with
potential, to consider. Europe will begin to demand a wider spectrum
of management courses which will put emphasis on issues such as
bringing more harmony between business and the environment, human
rights and how business can best bring about respect for the individual
consumer. Equally, we expect the rise in courses which will focus
on the transition away from the dependence on Government and the
taking of more personal initiatives as a way to solving problems.
All in all, it appears that Business and Management education can
expect a bright future, full of new challenges and opportunities.
- Management
and business studies have now overrun all other fields of
study in terms of student preference
- Without
a business degree one is almost handicapped in his search
for a challenging job
- Cyprus
has historically played its role as a trading route and
people have always been exposed to the challenges and opportunities
of business
- The
future of Business and Management studies looks more and
more promising as we in Cyprus enter into the new era of
United Europe
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Written by:
Professor Aris Petasis, the Philips College, Nicosia, CYPRUS
For more information, contact:
The Philips College 4 Lamias Street 2001 Nicosia Cyprus
Tel. +357-2-424 614 Fax +357-2-315 222
e-mail: philip@philips.ac.cy
Or visit our the Philips College website
http://www.philips.ac.cy/
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