Master of Business Administration (MBA)

Why choose this course?

Business innovation and leadership transformation are the driving forces behind our Kingston Master of Business Administration (MBA).

Whether you are looking to advance your career, increase your employability or move internationally, our MBA is the stepping stone towards personal self-development and achieving your individual career goals.

At Kingston Business School we believe that professional success is shaped by honing and developing personal capacity and skills, as well as the academic framework of knowledge. On this MBA you will gain core multi-disciplinary knowledge whilst developing your emotional intelligence, critical leadership and management skills.

Our MBA focuses on the real-life practical application of new skills, knowledge and approaches in order to transform business opportunities, tackle current problems and address future challenges. We nurture dynamic, open-minded thinking that contests existing systems, perceptions and perspectives. Through live consultancy projects and current business challenges embedded into the course we encourage a ‘big picture' approach in order to drive positive change within complex business functions and global environments.

MBA

Mode Duration Attendance Start date
Full time 1 year September 2020
January 2021
Full time 2 years including professional placement September 2020
January 2021

Executive MBA

Mode Duration Attendance Start date
Part time 2 years September 2020
January 2021

MBA (Moscow)

Mode Duration Attendance Start date
Part time 2 years 5 teaching blocks (normally six days in length) per year. A Two-week summer school in London September 2020

Executive MBA (Moscow)

Mode Duration Attendance Start date
Part time 2 years Six long weekends (normally six days in length) per year. A Two-week summer school in London September 2020
Location Kingston Business School, Kingston Hill

Reasons to choose Kingston University

  • Delivered by leading academics and researchers, as well as experienced practitioners who support your progress and personal growth. 
  • Strong emphasis on active learning methods such as peer learning, consultancy projects and running seminars to address current business problems – all designed to mirror real-business needs and global management skills. 
  • Developing your personal capacity and leadership skills whilst supporting you to build a career plan to meet your ambitions.
  • Free car parking at the Kingston Hill campus is available for students of this course. The campus can also be easily accessed by public transport. Halls accommodation is just a walk away from the classrooms.

Accreditation

The Kingston MBA has been accredited by the Association of MBAs (AMBA) since 1984 – one of the first UK MBAs to achieve this endorsement. Joining Kingston's MBA programme opens the door to lifetime membership of the Association of MBAs (AMBA) and a global alumni network.

The AMBA is the leading accreditation body in the UK and is receiving increasing recognition across Europe. It provides an independent, international verification of quality which assures employers that our MBA is well respected and up to date.

Accreditation

Kingston Business School Accreditations

Kingston Business School holds the prestigious international accreditation by the AACSB (Association to Advance Collegiate Schools of Business) in recognition of the excellence of its business education. This accreditation has been earned by just 5% of the world's business schools and recognises the high quality and standard of our business degree offering.

Kingston Business School Accreditations

What you will study

Through the MBA we aim for our students to actively analyse, question, interpret and innovate. This course will prepare you to identify and embrace potential opportunities whilst developing your creative capacities and collaborative approach in order to be successful in different environments.

The full-time MBA programme is structured in two parts across 12 months. Teaching takes place on weekday daytime classes with some weekend sessions. You will also attend a summer school in July of each year to study your electives. An optional second year is available to complete a Professional Placement.

Our Executive MBA is a part-time programme. It covers the same content at the full-time MBA and is typically completed across two years.

Part I

Part II

Year 2 (optional)

Executive MBA

Part I aims to develop a foundation in general management, including skills and perspectives across business function areas. It includes eight integrated subjects which develop the learners' understanding of theory and practice to enable them to achieve a corporate perspective of their enterprise.

Core modules

Financial Management

15 credits

This module will help you develop and enhance your critical understanding of a range of topical issues associated with financial management. You will do this by reviewing and analysing the position and performance of organisations as revealed in their financial statements and stock market indicators in the case of listed companies or key performance indicators in the case of not for profit organisations. In addition you will explore recent theoretical frameworks and empirical evidence concerning financial management issues to be found in the academic literature and then you will work to make sense of these in a practical context. You will engage with a broad range of issues, from financial reporting, through accounting for management decision making in the short and long term, to considerations of decision making in the context of responsible capitalism and accounting for and with sustainability issues.

Big Data and Business Analytics

15 credits

This module is designed to introduce business students to the exciting world of business intelligence and big data science with a particular focus on its use to inform strategic decision-making policies. Today's managers need to understand where and how to use business intelligence and big data analytics, to allow them to utilise new sources of customer, product, and operational data, which coupled with data science will allow them to optimise key business processes and KPIs.

Organisations and Management in a Global Context

15 credits

This module introduces you to a systemic approach to identifying, understanding and analysing macro, meso and micro issues, set within the global context, which have significant implications for the successful management of organisations and the people within them to produce appropriate detailed recommendations for organisational implementation.

Marketing Principles and Practice

15 credits

Marketing is an essential business orientation (in contrast to production, finance, sales etc.) for all organisations in both the private and charitable (for profit) sectors and in the public (not for profit) sector. Moreover, marketing is the management discipline which identifies and tracks customer / consumer expectations and needs and then gears the organisation to meet those needs, better than the competition and at an optimum level of profit, or within available budgets (in the not for profit sector).

Traditional marketing principles have evolved over time eg. from transactional marketing to relationship marketing, from meeting needs to co-creation of value. Contemporary marketing management needs to take account of such global trends as technology, sustainability, corporate social responsibility etc. This module introduces the concept of marketing at both a strategic and tactical level, to business professionals drawn from across the business disciplines such as marketing, sales, purchasing, production, logistics, finance, IT, HR etc., and offers insights to fundamental marketing principles and practice. It then adapts traditional marketing practice in the context of contemporary marketing issues.

Operations Management

15 credits

This module is core on the MBA. The module introduces you to the nature and scope of operations management within private and public sector operations in both service and manufacturing environments. The module explores operations strategy, process and capacity issues, supply chain management and improving operations.

Strategic Management

15 credits

This module is a core module for the Master of Business Administration. The module explores how an organisation could develop widely supported and high quality decisions in a manner that would ensure its ability to succeed and remain sustainable. The module also helps you to learn how to translate a strategy into action in organisations and engage with the challenges that the implementation of strategy brings about in order to ensure sustainable success in a rapidly changing environment.

To achieve this we will be examining a number of conceptual and analytical approaches and models to help us understand the assets and capabilities of the organisation, and its relationships with suppliers, customers, regulatory bodies and other firms. Following on from this analysis we will consider the issues involved in understanding and designing strategic options and introduce a number of ideas as how the execution of strategy should be understood and related to different activities of the organisation that relate to the implementation of its different strategic options in terms of people, processes and technology.

Responsible Management

15 credits

The module provides a critical understanding of the concepts of business ethics, corporate social responsibility (CSR), and stakeholder management and enables you to analyse, evaluate, and formulate business decisions in the light of ethical and societal considerations. It will enable you to manage organisations and your activities in a socially responsible way through the ability to evaluate CSR practices as applied to various business issues.

Enterprise and Innovation

15 credits

Students learn the necessary skills to build and scale a successful business. This includes how to develop ideas, build prototypes, and understand what customers truly want. The focus of the teaching and student experience is around hands-on learning and entrepreneurial activity. Students are given the opportunity to attend guest lectures with practicing entrepreneurs and intrepreneurs to gain practical understanding towards making innovation happen. Support will be given through the Kingston University flexible office space for entrepreneurial start-ups, drop in advice, training and challenges.

Assessment is through coursework, presentations, business prototypes and completion of the entrepreneurial process.

Part II aims to develop further practical management skills through the delivery of the Management Consultancy Project.

It also includes two electives allowing you to personalise your studies to match your career path and future aspirations.

Running throughout your MBA studies the Career and Leadership Journey module aims to support you in your personal and professional development whilst refining your executive leadership and professional skills.

Core modules

Management Consultancy Project

30 credits

This is a core module in the MBA programme. The module consists of taught sessions on theory and practice of management consulting, as well as business research methods and a set of activities to support MBA candidates in the development of their consultancy project. As such it looks at the relevant business research and analysis instruments and processes of sourcing and delivering consulting work. Perspectives of both consultant and client in a typical engagement are considered. The material provides solid theoretical and practical background to those wishing to pursue management advisory work on a professional basis.

Career and Leadership Journey

0 credits

The Career and Leadership Journey module runs throughout your studies at Kingston and aims to support you in your personal and professional development through an emphasis on the refining of leadership, teamworking and the acquisition and refining of executive and professional skills. It also aims to prepare Senior Apprentices to meet Behavioural Standards for their End Point Assessment (EPA). The module builds on the recommendations of joint research undertaken by the Chartered Association of Business Schools (ABS) and the Chartered Management Institute (CMI) aimed at meeting the growing demands from employers for business schools to produce more professionally adept managers and leaders. You will develop a number of valuable transferable skills via a series of workshops, each focused on a different aspect of your leadership, managerial and professional development, and help you develop as an individual those areas of most relevance to you. Throughout your journey you will also be able to track and assess your own individual progress. Module workshops and other activities are delivered by a range of academics and practitioners.

Elective modules (choose 2)

Corporate Finance

15 credits

This Corporate Finance module is an elective available to course members of the MBA programme, both full-time and executive versions. The module has been designed and developed to provide course members with an opportunity to explore the theory and practice of corporate financial strategy and the link with corporate strategy. A blended learning strategy will be utilised, involving a combination of classroom based learning, independent and group study, together with tutor-student and student-student interaction via Canvas. Where and when possible, corporate finance practitioners will lead one or more session, offering course members the opportunity to explore at first-hand how analytical frameworks and models are applied in the practice of financial strategy and decision making.

Project Management

15 credits

In this module we look at how to use project management to deliver strategic change in organisations and thereby achieve performance improvement. We consider how strategic change can deliver performance improvement and identify the change required to deliver it. We then describe how to plan and manage a project to deliver the change. We consider how to define, plan and organise the project, and how to engage the stakeholders. We then describe how to manage time, cost, quality and risk. Projects usually take place as part of a portfolio or program of projects, so we describe how to manage them. We also cover the development of the business case and benefits realisation management. Portfolios and programs are a key governance mechanism in the project-oriented organisation, and so we place them in the context of governance. They are also key for translating corporate strategy into project strategy, and for ensuring project objectives are linked to corporate objectives.

Change and Creativity

15 credits

Why do organisations need to change; to become more creative and innovate? How can management help people to achieve their new ideas and practices in a creative and imaginative way?

Change is a defining feature in contemporary organisations, posing key challenges and questions for all sorts of businesses, communities and societies. Implicit in change is the ability and capacity to act creatively in order to maintain healthy organisations. Therefore, to learn more about how organisations change, how to manage it, how people understand it; and, the complexities involved in acting and enacting change through creative processes becomes an essential feature of organisations in order to succeed in the 21st century. All of these exciting issues are explored in this module focusing on both, the epistemological and ontological aspects of creativity and change.

Top Management Teams and Corporate Governance

15 credits

This module aims to provide students with theoretical grounding in the fields of corporate governance and strategic leadership. Students will develop critical perspectives on top management teams and board of directors in different organisational and national contexts. The theoretical foundations will be illustrated with examples and integrated with practical exercises to help students develop knowledge, skills and capabilities to assume a top management / board director role within an organisation in both domestic and international contexts.

Global Immersion

15 credits

This module is designed to introduce the students to key theoretical and practical aspects of human interaction occurring across cultural boundaries in a global context. It provides a structured approach to identifying, reflecting and analysing students' first-hand knowledge and experience about the culture and commerce of another country, thus developing their ability and confidence to work in the global work environment.

Winning and Retaining Customers

15 credits

The module introduces students to the core concepts of customer acquisition and retention in different contexts, namely business-to-business (B2B), business-to-consumer (B2C) and service settings. It builds on the knowledge acquired from the Marketing Principles and Practice module, examining how organisations are able to create value for their customers as well as other stakeholders. The module examines the importance of understanding the contemporary marketing environment before developing strategic plans to retain existing, and acquire new customers.

The module critically evaluates traditional marketing theories in their role of creating value. More advanced theories are introduced to evaluate customer value creation: specifically, relationship marketing, business networks, services marketing and value co-creation within service-dominant logic.

Having identified appropriate theories, relevant concepts such as Customer Relationship Management (CRM), Key Account Management (KAM), multi-channel architecture and digital media will be discussed. The importance of segmentation in new marketing environments is explored including issues of Big Data. The module concludes with an analysis of the relevant marketing and financial metrics needed to ensure effective management of the customer/business relationship.

Interactive Marketing

15 credits

"Without a doubt, new technologies have had a profound and lasting impact on the marketing function. A paradigm shift has occurred which will forever change the way marketers and marketing managers work. This does not mean, however, that 'old' marketing tools are no longer relevant." (Molennar, 2012)

In today's business world, a large number of organisations base their strategic initiatives on various digital business models, sometimes transforming whole industries in the process. In addition, many other successful organisations use Interactive Marketing as the core of their marketing strategy and/or to complement and extend their offline marketing activities. Thus, understanding the theory and practice of Interactive marketing has become an essential element of modern marketing.

Supply Chain & Logistics Management

15 credits

This module aims to develop students' ability to understand how to plan, implement and control the most effective and efficient flow of products and services. This module will help students develop decision making skills in the structuring of strategic and tactical options for organisations engaged in various supply chain and logistics activities. Class will be delivered by the combination of lecture, discussion of case studies, and students' presentations. This module considers how the theoretical aspects and methodologies of logistics and supply chain management can be applied into the real life practices. This module will be assessed through group presentation and individual assignment. Formative feedback on how well they do this will be provided in class.

Global Business

15 credits

This module examines international business issues and the phenomenal of globalisation from a strategic perspective. On one hand, this module investigates the issues from a macro-level, looking at the trends of international trade and foreign direct investment, emergence of emerging markets and how they interact with or impacts on the global economy, and the role of international institutions such as regional economic trade blocs and the WTO. The impacts of these on businesses are then considered. On the other hand, this module also discusses concepts and theories that could be used to help firms make internationalisation decisions and formulate appropriate internationalisation strategies.

The emphasis of this module is on integration and reflection. During the delivery of the module contents, students will be constantly encouraged to share their experience in classes in relation to the issues discussed on the module and reflect in a critical manner how theories and the real world relate with one another. The ability of students to integrate and reflect is further stimulated, developed and enhanced by class discussion and the assignment, which requires the students to write a critique on an academic article, discussing with a critical mind the importance and applicability of the theoretical concepts/issues in the article to real business cases that they are familiar with.

Development and Growth of SMEs

15 credits

The potential for growth is a defining feature of the entrepreneurial small and medium enterprises (SMEs). This module is concerned with the issues and decisions that the entrepreneur must consider in successfully managing the growth and development of new SMEs. The module is designed to cover four broad and interrelated issues: a) the process of business growth of SMEs, b) barriers to business growth of SMEs; c) internal strategies for the growth of SMEs, and d) external strategies for the growth of SMEs. The course will draw on materials from the literature on entrepreneurship to provide a basis for a critical understanding of the concepts and strategies for entrepreneurial venture growth and development.

Innovation Finance

15 credits

Venture capital and Business Angel finance has been the driving force behind some of the most vibrant sectors of the economy. Companies famous for receiving venture capital or business angel funding early in their development include Apple, Microsoft, Google and Amazon. US and Western Europe no longer dominate the industry and emerging countries such as China, India and Russia are fast catching up. Recently, the explosion of Crowdfunding platforms has signalled a new era for the innovation finance industry. This module analyses all stages of the funding ladder for innovative companies, from Crowdfunding, Business Angels, Venture Capital, Private Equity to IPO or M&A. It examines the main forms of innovation finance and the investment process; how private equity and venture capital funds, business angels and crowdfunding platforms work; how firms become investment ready, raise external finance and how to they finally exit. Students also learn about wider framework conditions that have a bearing on business innovation, including availability of finance for innovation, public policies and agencies promoting innovation.

This professional placement year is optional. It takes place after the full time MBA year. It allows students to do a 12-month work placement as part of their course. The work placement is an assessed part of the course and is therefore covered by a Tier 4 visa.

Find out more about the postgraduate work placement scheme.

Core modules

Professional Placement

120 credits

The Professional Placement module is a core module for those students following a Master's programme that incorporates an extended professional placement that follows completion of the first 180 credits of taught modules and project or dissertation. It provides students with the opportunity to apply their knowledge and skills in an appropriate working environment, and to develop and enhance key employability skills and subject specific skills in their chosen subject.

It is the responsibility of individual students to locate and secure a suitable placement opportunity; this will normally involve one placement which must be completed over a minimum period of 10 months and within a maximum of 12 months. The placement must be approved by the module leader prior to commencement to ensure its suitability.

The part-time Executive MBA typically takes 2 years to complete. You may choose to start in January or September.

Teaching takes place over a number of weekends spread over the two years.

  • Part 1: Teaching is all day Saturday and Sunday
  • Part 2: Teaching is all day Saturday and/or Sunday

You will also attend a summer school in July of each year to study your electives.

The information above reflects the currently intended course structure and module details. Updates may be made on an annual basis and revised details will be published through Programme Specifications ahead of each academic year. The regulations governing this course are available on our website. If we have insufficient numbers of students interested in an optional module, this may not be offered.

 

Kingston Business School professional lecture series

Join Kingston Business School for a series of free online lectures exploring contemporary issues in business. These lectures are open to all, and advance booking is essential.

For further information on the Kingston Business School Professional Lecture series please contact:  Dr Pauline Parker P.Parker@kingston.ac.uk.

What our students say

The Kingston MBA provides practical leadership and management skills, membership of a diverse learning community and global alumni network, and importantly; it provides a credential that sends a signal to the marketplace.

An MBA is not just about the knowledge you pick up, but the people you meet, the places you visit and the networks you create. I count my MBA journey as one of my greatest life experiences.

My MBA cohort allowed me to work closely with an extremely talented group of people from a broad range of industry sectors, geographies and backgrounds. When writing my MBA dissertation on ‘IT integration in mergers and acquisitions' I established a number of unique and interesting relationships, strengthened my professional network, and was presented with opportunities to attend and speak at a number of industry events.

Declan Burke

Declan Burke

Alumni destinations

The Kingston MBA empowers its graduates to advance their careers in a variety of ways, according to the individual's career aspirations. Many of our alumni use the knowledge gained from the Kingston MBA to help them operate more effectively at a higher level of senior management, either within their existing industry, or taking the opportunity to transition into a new role/ sector. Others use these skills to successfully set up their own business, or expand into a consultancy role within an existing firm, or by setting up their own.

Some examples of well-known organisations our alumni have worked for include; GSK, AstraZeneca PLC, RBS, Tata Consultancy Services, NHS, Amazon Internet Services PVT Ltd, Occidental Petroleum, MS Amlin, SberBank, BTS Telecom, Deloitte Digital, EY.... to name but a few.

The types of role our alumni have held following the MBA vary greatly according to the individual's experiences and area of expertise. A selection of positions held by Kingston MBA alumni include: director of technical sales, finance director, head of brand marketing & acquisition, CEO, head of operations, CTO, regional business manager, director of services,  chief operating officer, IT business relationship manager, and group chief executive officer.

Our MBA Alumni

Upon graduation you'll be joining an elite network of Kingston MBA alumni linking you up with future business colleagues and your next job role. We take great pride in the success and stories of our MBA Alumni:

Mike Adamson

Mike Adamson

CEO, British Red Cross is MBA Alumni

Tony Ball

Tony Ball

MBA 1996 Alumni Chief Executive, BSkyB, 1999-2003

Mike Dobby

Mike Dobby

Deloitte partner and VC MBA alumni 1995

Andrew Haines

Andrew Haines

Chief Executive, Network Rail studied part-time to complete his Kingston MBA

Alexey Komissarov

Alexey Komissarov

Founder and Director General, AutoRepairSystems

Veronika Peshkova

Veronika Peshkova

Public Diplomacy Foundation & Goodwill Ambassador, UNIDO

Dmitry Stapran

Dmitry Stapran

PwC Director is Kingston EMBA alumni at RANEPA, Moscow in 2010

MBA Alumni Network

The MBA Alumni Network enables alumni and students to benefit from a global network of connections in a wide range of industry sectors. The network, which is part of Kingston Connect, our online alumni platform for Kingston Business School alumni, enables MBA alumni to:

  • Connect with MBA alumni across the world
  • Share job opportunities
  • Establish mentoring relationships
  • Exchange industry knowledge and experience
  • Re-connect with class mates
  • Sharing photos of your MBA experience
  • Be part of country-specific or industry-specific groups
  • Find out about upcoming events and reunions

The wealth of knowledge and diversity of our alumni from the past 30 years of the Kingston MBA programme creates an enriching and engaging network which you will want to be a part of!

 

MBA Alumni Network

MBA in Russia

The Kingston MBA and Executive MBA is also delivered with our partners in Moscow at the Russian Presidential Academy of National Economy and Public Administration (RANEPA). The modules are identical to those delivered at Kingston University, though some additional workshops and input from local regional practitioners are included. The core curriculum is delivered by Kingston University academics, supported by colleagues from RANEPA.

Entry requirements

We advise that candidates apply for the Kingston MBA as soon as possible – it can take longer than you think to get organised to start your MBA. We accept admissions throughout the year, so you can join the next available group of students when you are ready.

The Kingston MBA is a generalist course that is offered as a full-time and a part-time (executive) programme. Our specific MBA admissions criteria reflect the fact that students on the programmes often have different academic and business backgrounds.

Specific MBA admissions criteria

Committing to an MBA is a huge, life-changing decision. We want your experience on the Kingston MBA to be challenging, enjoyable and rewarding, so making sure we select both the right students and the right mix of students is extremely important. We use a set of admissions criteria to determine if a student is ready to take on an MBA. The criteria help us to make sure that you can successfully complete the MBA, and that each cohort of students will work together successfully as a team.

  Area  Requirement
 You need to provide:
 Academic
 
First degree or recognised equivalent from a professional body.
Certified copy of your degree, transcripts, or letter of award.
We also consider applications from individuals with considerable management experience but no first degree. Evidence of alternative professional development and achievement.
Work experience
Minimum of three years' relevant work experience for the full-time programme or five years' managerial experience for the executive programme.

English proficiency Very proficient written and spoken English. Applicants whose first language is not English are expected to meet our requirements for English language proficiency (see below for details).
Motivation The MBA is a big commitment. We need to know you have thought about the opportunity and the consequences of studying. Personal statement (750 words maximum) within application form.

Interview to discuss the suitability of the MBA for you.

Admissions process

After receiving a candidate's application form, the first stage in our admissions process is to confirm that the candidate meets the criteria listed in the table above. So it is crucial for you to send us all the evidence and documents we require.

If you meet the minimum requirement for this programme your application will be considered further and you may be invited to an interview. This is either a face-to-face meeting over telephone or via skype.

We will be in contact with you throughout the admissions process, after your initial application, so you know what the next step is on the route to your MBA.

International

All non-UK applicants must meet our English language requirement, which is Academic IELTS of 6.5 overall, with no element below 5.5. Make sure you read our full guidance about English language requirements, which includes details of other qualifications we consider.

Applicants who do not meet the English language requirements could be eligible to join our pre-sessional English language course.

Applicants from a recognised majority English speaking countries (MESCs) do not need to meet these requirements.

Teaching and assessment

Guided independent study

When not attending timetabled sessions you will be expected to continue learning independently through self-study. This typically will involve reading journal articles and books, working on individual and group projects, preparing coursework assignments and presentations, and preparing for exams. Your independent learning is supported by a range of excellent facilities including online resources, the library and CANVAS, the online virtual learning platform.

Support for postgraduate students

As a student at Kingston University, we will make sure you have access to appropriate advice regarding your academic development. You will also be able to use the University's support services

How you will be assessed

Assessment typically comprises exams (eg test or exam), practical (eg presentations, performance) and coursework (eg essays, reports, self-assessment, portfolios, dissertation).

Feedback summary

We aim to provide feedback on assessments within 20 working days.

Your timetables

Each student receives a personalised timetable. This is usually available after you have completed your online enrolment, which is typically accessible one month before the start of your course.

Class sizes

You will be part of an intimate cohort of students which provides dedicated academic guidance and advice and the opportunity to build a life-long network of colleagues. Some modules are common across other postgraduate programmes therefore you may be taught alongside students who are on these courses within the Business School.

Who teaches this course?

You will be taught by an experienced teaching team whose expertise and knowledge are closely matched to the content of the modules on this course. The team includes senior academics and professional practitioners with industry experience. The following group of staff members are currently involved in the delivery of different elements of this course. This pool is subject to change at any time within the academic year.

Fees for this course

Home and European Union 2020/21

  • MBA full time £23,500
  • MBA part time £12,925 per year

Overseas (not EU) 2020/21

  • MBA full time £23,500
  • MBA part time £12,925 per year

Fees for the optional placement year

If you choose to take a placement as part of this course, you will be invoiced for the placement fee in Year 2. Find out more about the postgraduate work placement scheme and the costs for the placement year.