Evolution

The first programmes of study were commenced with the introduction of two undergraduate degree programmes in Business Administration and Public Administration under the Department of Economics, Business and Public Administration of Faculty of Arts.    

– The Department was reconstituted as the Department of Management Studies under Faculty of Arts. – A PhD programme and a MBAprogramme in Management were commenced under the Faculty ofArts.

Under the reorganization of the university structure, the Department of Management Studies was elevated to faculty status and the FMSC was established with two Departments, namely, the Department of Management Studies, and the Department of Commerce .

B.Com (Special) Degree Programme was commenced under the Department of Commerce.

The degree programme in Estate Management and Valuation, established at University of Colombo in 1972, was transferred to SJP and separate unit was established under the Department of Business Administration to offer this degree programme.

Department of Management Studies was split into two Departments as Department of Business Administration and Department of Public Administration.

The Department of Estate Management and Valuation was established.

Postgraduate Institute of Management (PIM) was established and the PhD and MBA programmes in Management were brought under PIM

The Department of Accountancy and Financial Management was established.

A degree programme in Accountancy was introduced under the Department of Accountancy and Financial Management as the first academic degree in accountancy in the Sri Lankan university system.

Introduced a degree programme in Marketing Management under the Marketing Unit, which functioned under the Department of Business Administration.

Department of Public Administration introduced a degree programme in Human Resource Management functioning separately under the Human Resource Management Unit.

M.Sc. Programme in Management was commenced.

The Marketing Unit was converted into the Department of Marketing Management.

HRM unit was converted into the Department of Human Resource Management.

The year 2001 marked a turning point in the history of FMSC with the restructuring of its structure moving away from the previous line department concept to the service department concept. This restructuring process led to the formation of 10 service departments where each is identified with a specific functional area of business. Each service department is responsible for the degree programme offered in its own area of expertise as well as to courses in its functional areas to all other degree programmes of FMSC.        

The Department of Information Technology and Decision Sciences was established.  

B.Sc. in Business Administration (Information Systems) (Special) degree programme was commenced under the Department of Information Technology and Decision Sciences.  

A degree programme in Finance was commenced.

The Department of Business Economics was established and the B.Sc. in Business Administration (Business Economics) (Special) degree was introduced.

Department of Information Technology and Decision Sciences was split into two Departments namely the Department of Information Technology and the Department of Decision Sciences.

A degree programme in Operations & Technology Management (Special) was introduced under the Department of Decision Sciences.

Degree programme offered by the Department of Information Technology was renamed as B.Sc. in Business Information Systems (Special) Degree.

As the hub ofthe management education in Sri Lanka, FMSC commenced a Master of Business Administration Programme in 2009 with six specialization areas cater to the purpose of moulding business leaders ofthe country.

With the purpose of improving language skills of future managers, a unit for Business Communication was established.

Department of Entrepreneurship was established and introduced a degree programme in Entrepreneurship.

Showing its academic orientation, Faculty started a PhD Programme in Management with the intention to enhance boundaries of knowledge creation and dissemination in management education.

Legal Studies Unit was established under the Department of Commerce to service the law courses offered in the degree programmes ofthe faculty.

Obtained the membership of The Association to Advance Collegiate Schools of Business (AACSB), which is a leading global accreditation institution for business schools.

Legal Studies Unit (LSU) made operative as a separate Unit directly under the Faculty of Management Studies and Commerce since 6th November 2017

Secured an “A grade” for all 12 degree programmes at the Quality Assurance Programme Review conducted by the UGC. This is a unique achievement since the FMSC was the only faculty that obtained such outstanding results for all its programme submissions.