At the graduation ceremony yesterday, 45 students received a diploma in general management while 27 received a masters degree in business studies. This is the largest number of students graduating at tertiary level in conjunction with an overseas institution.
Dr Galea said this shows that the Maastricht School of Management is truly becoming a trusted and respected business school in the local educational and business environment.
He noted that the Institute of Management believes in the capability of Maltese managers and is committed to enhancing the profession of management in Malta. The institute is providing real opportunities for those who want to continue developing their management skills, be it through short courses or even doctorates.
The term “management” encompasses a whole range of skills – business planning, forecasting, recruitment, personnel management, operations management, strategic marketing and promotions, said Dr Galea. Such skills are becoming more relevant to the development of our economy and local enterprise as well as to the practical challenges government and businesses face today.
He advised the graduands to keep in mind the changing role of government and the impact of such changes on the world of management. Government is currently on a steep learning curve. It is following a retreat from direct intervention in the market, direct economic management and social targeting, said the minister.
He explained that feedback from graduates and their constructive participation will be crucial for sensitive policy making, and he urged them to keep abreast, participate in the making – not the breaking – of policy developments, and perceive this as a tool for growth, not an extra burden on top of the challenging roles they will occupy.
The minister emphasised the importance of maintaining a balance between productivity and productive capability. Winning enterprises today are those which place their people at the nerve centre of their organisation, he said.
“They are the brain, the eyes and legs of an operation and are the most likely factor to make or break the business.” By addressing this issue, he continued, organisations can be transformed into life sources of innovation and highly profitable businesses
Despite the misconception that innovation only occurs in high-tech sectors, it actually occurs mostly in learning organisations. He explained that the challenges of product innovation and shorter product life-cycles were in the hands of these new graduates.
Government is working on a Lifelong Learning Strategy, said Dr Galea, to address the needs of continuous learning on a national level. A National Research, Technical Development and Innovation programme will be launched through the Malta Council for Science and Technology together with the Innovation Relay Centre. This will aim to boost the diffusion of research and innovation within the industry.