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In a world that is constantly changing due to technological breakthroughs and rapidly changing market requirements, the ability to innovate is becoming a decisive success factor for companies. A degree program in innovation management prepares students to turn creative ideas into successful business strategies. This article provides an overview of what makes a degree program in innovation management stand out, what content is taught, and what career opportunities arise from it. Find out why this discipline is so exciting and relevant for forward-thinking minds.
An innovation management degree is an interdisciplinary program that focuses on the development, implementation, and marketing of innovations. The aim is to prepare students for the challenges associated with promoting and managing innovation in companies, organizations and start-ups. The program combines elements of business administration, technology, creativity methods and strategy management. Students learn how to develop, analyze and successfully establish innovative products, services, processes or business models in the market. At the same time, they acquire skills in project management, change management and leading teams in dynamic environments. The program is aimed at creative and solution-oriented people who are interested in future trends, entrepreneurship and the design of new ideas. Graduates can work in various industries, such as product development, management consulting, research and development or as founders of their own start-ups.
If you enjoy creating new things, working in teams and thinking in a solution-oriented way, you have the ideal qualities for studying innovation management. This course of study also offers an exciting challenge to those who enjoy dealing with future trends and approach change in a positive way.
At Munich Business School, you can study for a Master's in Innovation and Entrepreneurship with a focus on innovation management. This gives you the perfect mix of business knowledge and practical experience and project management skills, through a business project for example, to help you shape your future according to your ideas. These are the most important facts about studying at MBS:
This table summarizes the main topics and content areas of the course. It shows how broad and practical the course is.
| Category | Course content |
| Basics | Business administration and management, business law and ethics |
| Core areas of innovation management | Innovation strategies, design thinking and creativity methods, technology and trend management, product and process development |
| Practice-oriented content | Project and process management, change management-entrepreneurship |
| Digitization and innovation | Digital transformation, big data and artificial intelligence |
| Supplementary content | Market and competition analyses, sustainability management, communication and presentation |
| Practice and graduation | Practical projects and case studies, final thesis |
A business degree with a focus on innovation management offers you a broader foundation than a degree in innovation management alone. While innovation management is highly specialized in the development and implementation of new ideas, business administration gives you a comprehensive knowledge of business contexts, such as finance, marketing, human resource management and corporate strategy. This broad base not only helps you to develop innovations, but also to better understand their economic impact and to embed them in a targeted manner in the corporate context.
By specializing in innovation management, you can still gain in-depth knowledge of creative processes and trend analysis, but you have the advantage of also being flexibly deployable in other areas. This makes you a sought-after specialist who can take on both operational and strategic tasks. This combination opens up more diverse career opportunities for you and enables you to manage innovations holistically.
Munich Business School not only offers you a degree in business administration, but also focuses on international business, so that after graduation you can pursue your chosen career anywhere in the world. At MBS, you can expect small study groups, dedicated teachers, and award-winning programs. But more importantly, your name matters to us. Here, you are not an anonymous member, but the driving force that motivates us every morning. As a small, private university, we take the time to address your concerns and offer you a tailor-made study experience. Our lecturers have extensive practical experience and teach you skills that really count. Studying at MBS offers many highlights such as business projects, internships, semesters abroad, plenty of networking opportunities, and much more. In addition to sound business knowledge, we also promote values and skills that will give you an understanding of sustainability and social responsibility as a future professional and prepare you optimally for a wide range of careers.
The main requirement for admission to the Master study program is a successful Bachelor's degree (180 ECTS or more). Applicants with a degree in Business Studies/Management/Economics are entitled to apply for the program directly, applicants without a degree in economics can qualify for the program by completing the Pre Master Program. Upon request, we will gladly verify your documents in advance. Please contact your Program Advisor.
Applicants must proof their English language skills by passing one of the following language tests:
Note: If the test is also used to apply for a visa, please check the requirements of the respective embassy in advance.
Test results can only be accepted if achieved within the last two years. If you are unable to obtain your test results before handing in your MBS application, please inform us about your planned test date.
The English proficiency test can be waived by the following candidates:
We accept applications all year round. However, we recommend that you apply as early as possible, as the number of places is limited.
Spring semester (Master International Business only)
Applicants from Vietnam, China and India should allow an extra month to apply for the relevant visas.
Winter semester
Applicants from Vietnam, China and India should allow an extra month to apply for the relevant visas.
When submitting your online application, please provide the following mandatory documents:
You may also upload the following additional documents:
*Please provide the original documents or certified copies when you gain admission and matriculate to the program.
Qualified applicants will be invited for a personal interview on site in Munich or online via Microsoft Teams (approx. 30 - 45 minutes). The interview may include the processing of a case study.
As soon as you are an admitted student, you have the opportunity to get to know MBS even better – before making your final decision whether to join Munich Business School.
Our study advisors will of course be available for all kinds of potential questions and personal consultations.
Once you have successfully completed the application process, Munich Business School will provide you with an acceptance letter as well as two copies of your study contract. Please sign one copy and return it within two weeks to secure your spot in the program. The other copy needs to be kept for your own records.
The acceptance to the study program requires an enrollment fee of 690 Euro (EU/EFTA) respectively 1,490 Euro (non-EU) and a deposit of 1.990 Euro due upon signing the study contract. The deposit will be deducted from your first tuition fee installment.
If you are a non-EU national, you are required to apply for a student visa in order start your studies in Germany. To obtain a visa invitation letter from Munich Business School, which is necessary to apply for the visa, please add a copy of your passport details page when handing in your signed study contract.
Munich Business School offers attractive scholarship programs amount up to EUR 4,000 of the overall tuition fee. (Up to EUR 2,000 on the 1st and 2nd master's semester).
If you wish to apply for a scholarship, you should include an application when you submit your overall application. You can find further information on our scholarships and financing page.
Salaries in innovation management vary depending on professional experience, company size, industry and location. Here is an overview:
The diversity of innovation management is reflected in a number of exciting professional fields. Here is a closer look at three examples of careers:
A degree in innovation management prepares you to develop creative ideas, implement them strategically and successfully establish them in the market. You will learn how innovations in products, processes or business models are created, how they are evaluated and managed, and how you can use trends and technologies for companies. In doing so, you combine knowledge from business, technology and creativity to actively shape the future.
Entrepreneurship and innovation management deal with the development, implementation and marketing of new ideas, products or business models. While entrepreneurship focuses on the founding and management of companies, innovation management is concerned with promoting innovative processes and strategies in existing organizations. Together, they form the basis for creative solutions and economic success.
An innovation management process in a company begins with the collection of ideas, often through trend analysis, creative methods or employee suggestions. The ideas are then evaluated, prioritized and the best ones selected. These are tested in pilot projects, further developed and finally implemented. Finally, the success of the innovation is measured, and the knowledge gained is incorporated into future projects.
Global innovation management refers to the development and implementation of innovations in an international context. It takes into account global trends, markets and resources to create competitive products, services or business models. It combines cultural diversity, technological developments and cross-border collaboration to successfully innovate worldwide.
A degree in innovation management qualifies you to strategically develop, implement and market innovative ideas. It gives you in-depth knowledge in areas such as creativity techniques, project management and corporate strategy, enabling you to drive innovation in a range of industries.
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