Module BUSI4AS15: Risk and Crisis Management for Enterprises

Department: Management and Marketing

BUSI4AS15: Risk and Crisis Management for Enterprises

Prerequisites

• None

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• Aims
• The course familiarizes students with the principles of risk identification and measurement, risk management tools to mitigate risks, and crisis management if the unexpected happens. It covers general principles and methods that apply in diverse business settings, including, but not limited to, global supply chain management, power utility planning, financial institutions, healthcare, and project management. Students will develop an appreciation of ways to deal with a broad range of overarching risks . The course goes beyond the usual risks from business uncertainty and financial turmoil to the modern risks from AI, cybersecurity, climate change, and (geo)political uncertainty. They will be introduced to analytics such as scenario analysis and stress testing, corporate governance policies, and regulatory tools. They will develop an understanding of the risks facing modern enterprises and learn how to effectively implement an enterprise-wide risk management program to hedge various types of business risks and evaluate risk-adjusted performance. They will also learn the basics of crisis management for when risk management fails and the unexpected happens.

Content

• Content
• Introduction to enterprise risk management: resilience, culture, governance, compliance.
• Endogenous and exogenous risks and identification of risk factors
• Risk and uncertainty perceptions and communication
• Climate change risks
• Political and geopolitical risk
• AI and cybersecurity

Learning Outcomes

• Gain a critical understanding of the major sources of risk in today’s global business environment, including financial, operational, strategic, reputational, and systemic risks.
• Analyse the governance frameworks, regulatory requirements, and analytical tools (such as stress testing, scenario analysis, and Value-at-Risk) that organizations use to identify, assess, and mitigate risks.
• Evaluate the complementary roles of financial derivatives, insurance instruments, and enterprise-level controls in managing exposure and enhancing organisational resilience.
• Understand how risk management integrates with broader corporate strategy, ethics, and sustainability objectives in preventing and responding to crises.

• Ability to critically describe well-known risks and identify new ones.
• Ability to critically describe basic risk management regulations and their rationale, and to describe critically analytics such as stress testing, scenario analysis, Value-at-Risk.
• Ability to analyse and coherently present real-world case studies incorporating the acquired knowledge and theories.

• Cognitive skills of critical thinking, analysis, and synthesis, including the ability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, and define terms adequately and to generalize appropriately.
• Ability to apply theories and frameworks to comprehend problems of risk management.
• Ability to appreciate the requirements for effective crisis management.
• Ability to use social media as a source of information related to risk management and its pitfalls, research library, and media for appropriate journals, publications, websites, books, and other reference material.
• Communicate effectively in writing and orally.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by way of lectures with research-led content, real-life examples, and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and private study. Students will be asked to work on a major case study during the second half of the course. Throughout the module, careful attention will be paid to grounding the discussion of relevant theory and academic content in practice and real-life examples, especially from ongoing affairs.
• Classes will also accommodate questioning and debate. Active participation is encouraged.
• Case studies, such as those below from Harvard Business School, will be used as part of the assessment process. We will also be covering breaking news. We focus on real-world examples of failed responses because we learn more from mistakes than from the dog that did not bark. Examples of real-world examples include: -
• Food retailing risks during the pandemic
• iPhone supply chain risks
• Environmental risk management at Chevron Corporation
• Risks for businesses operating at home and abroad
• Enterprise risk management at HydroOne power utility
• The role a company play in a national crisis?
• Formative Assessment:-
• Students will analyse a case study working in teams of typically 3 students. They will give a 20-minute presentation during the seminar and submit a structured PowerPoint presentation. Each team will give a joint presentation and submit one PowerPoint file.
• Summative Assessments:-
• Each student will submit a 5-minute video of their case study upon completion of the course. The videos will be individual for each student of the group, based on the common presentation.
• Students will also be required to give a 20-minute seminar discussing a state-of-the-art paper and identify three potential thesis topics, and submit a structured PowerPoint presentation. This task will be carried out by teams of three students who will give a joint presentation and submit one PowerPoint file.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Students will analyse a case study working in teams of typically 3 students. They will give a 20-minute presentation during the seminar and submit a structured PowerPoint presentation. Each team will give a joint presentation and submit one PowerPoint file.

■ Students who do not attend monitored activities shown under Teaching Methods and Learning Hours, or who fail to complete the summative or formative assessment(s) specified above, may be subject to the Academic Progress procedures defined in the University's General Regulation V, and may be required to leave the University.