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Aims of the courseThis unit aims to disentangle the components of strategic risk and then encourages students to create new strategic risk management processes applicable in the white heat of busy organizations. This course is intended to equip the general manager with sufficient knowledge to be an active and informed participant in organizational decisions regarding strategic risk management. Tools and techniques will be offered to bring alive conceptual frameworks and theory. Learning outcomes and competences Upon successful completion of this course, students will be able to utilize analytical tools, and understand different risk management perspectives which will provide a sound basis for strategic risk management decisions. To apply risk management knowledge relating to specific organizational functions in both domestic and international contextsCourse contentDay 1: Introduction to strategic risk management processes and the management of risk and uncertainty in marketplacesIntroduction to strategic risk managementThe Strategic Risk Management Process. Managing risks and uncertainties in marketplaces
Day 2: Strategic decision making and risk managementRisk appetite (corporate and personal)Heuristics and biasesManaging decision maker riskRisk culture and awarenessRisk communication
Day 3: Practicalities of Strategic Risk ManagementProject and programmed risk management to support strategic risk managementEnterprise Risk Management
Day 4: Corporate governance and risk managementCorporate governance and risk: national and international systemsStrategic aspects of financial risk managementSafeguarding reputation – managing risk to reputationBusiness continuity
Assessment MethodsPoints for gradingAttendance: 20Midterm: 20Assignment: 40Final: 20Maximum: 100Recommended literature:
The Risk Management Universe: a Guided Tour London; British Standards Institution, Hillson, David ed 2006
Entertainment Industry Economics: a guide for financial analysis, Cambridge, Cambridge University Press, Vogel H 2001
Kendrick, Terry (2004) “Strategic risk: am I doing ok?” Corporate Governance vol 4 no 4, pp 69-77. 2004
Drew. Stephen, Patricia Kelley and Terry Kendrick. Using five pillars (CLASS) of corporate governance to manage strategic risk. Business Horizons, March /April 2006 pp 127-138 (with Drew and Kelley) 2006
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