Business Risk Management

A1: Understand the main asset-based and resource-based risks facing individuals and corporate entities

A2: Appreciate the impact of incomplete information in knowledge-based decision making environments

A3: Have knowledge of the main secondary sources of information and techniques of gathering primary information for risk management in the international business environment

A4: Have a practical knowledge of the main insurance and risk management techniques and when they should be applied

B1: Appreciate the multi-disciplinary approaches to risk and business continuity planning

B2: Critically evaluate and formulate a risk management strategy for an international business

C1: Act effectively in a situation of crisis management within a simulated environment

D1: Communicate effectively within a crisis environment

Learning and teaching for this module will typically comprise of the following;

· Directed learning – to include lectures, seminars/workshops

· Independent/student managed learning – to include reading, research activities and preparatory work for seminars/workshops

· Summative assessment – to include a group study report (50%), and an individual report (50%).

This module will comprise of lectures and seminars for which preparatory reading and study will be required.

Directed Learning: 52 hours (4 hours per week)

Independent/Self-managed learning: 148 hours (average 10 hours/week)

Total: 200 hours

The university has an attendance policy. For this programme, you are expected to attend all lectures and seminars and complete all assessments as not only has attendance been closely linked to academic achievement but students who actively participate in their learning are more likely to enjoy their learning experience. If you are unable to attend a seminar/workshop, please advise the relevant tutor or programme administrator in advance where possible. For further details, please refer to your programme of study information site which can be found on Moodle.

Formative Assessment

Regular tasks relating to critical information gathering, analysis, discourse and negotiation will feature during the seminar and workshop sessions which will support the formal assessment tasks below; opportunities for

review and discussion during sessions will feature and the skills for peer-based review developed.

Summative Assessment

This module will be 100% coursework consisting of two assessments:

Coursework 1 (50%)

Group-based tutor facilitated analysis of risks facing a particular international business, and development of a risk management strategy and business continuity plan. This will comprise a report of 3500 words (exclusive of tables, figures, references, appendixes) (10% either side). Groups are typically of no less than 3 and no more than 6 students. Groups are formed by the tutor on the first seminar sessions.

The learning outcomes assessed by the report are:

Abilities to analyse, interpret, and evaluate multidisciplinary business risks

Abilities to integrate a number of aspects of earlier and parallel final year studies in the context of business risk management

Skills in case and company related situation analysis, group work and problem solving

Assessment criteria for the group report are:

Evidence of a well-planned, organised and structured piece of work including clear conclusions and recommendations

Content and coherence; relevance of the content to the questions set; have the assessment questions been squarely and clearly answered?

To what extent does the content develop coherent themes of argument in answering the questions?

Analytical standard; emphasis on analysis rather than repeating descriptive detail from the data sources; application of theoretical concepts and techniques studied on the Business Risk Management module.

Presentation; use of case study report format, use of diagrams and visual aids, quality of academic writing, correct referencing in text and Bibliography.

Coursework 2 (total 50%)

Individual reflective report based on experience in crisis management simulation. These simulation sessions typically last 4 hours and will be run during the teaching sessions time. Attendance to the simulation is compulsory for attempting and submitting this piece of assignment. Feedback/transitions briefing given as integral part of this simulation and part of the assessment.

This report will typically be of 1,000-1,500 words and to support the reflections on the experience and the learning may include visual materials from the simulation.

Assessment Brief(s)

Your Assessment Brief(s) include your submission deadlines and the date by which you will receive feedback.

Students should be reminded that the University has a policy on claiming for mitigating circumstances, such as illness, and penalties for unauthorised late submission of coursework.

The full procedure document will be available on the Policies and Procedures section of our website, and the form students will use within MyAccount also provides detailed information to students, depending on (for example) whether they are submitting a prospective or retrospective claim, or claiming for an exam or course.

It is important that you meet all deadlines, but if you are having difficulties in doing so, it is also important to let us know as soon as possible so that we can provide the best support and guidance.

The module curriculum is organised around three main areas of implications for Business Risk Management.

1. Risk assessment and management within projects

–Most strategic initiatives are run as projects

–Project management provides a relevant context to assess and learn how to manage risks to objectives

2.Enterprise-level aspects

–Risk appetite, governance, business model and reputation risks, innovation, insurance and risk transfer, enterprise risk management, business continuity planning…

3.Crisis management

–Scenario planning, simulation, stakeholder communications, distributed leadership, teamworking

In addressing these contexts and implications for business risks a set of theoretical frameworks and practical tools will be covered on the module:

· Historical overview of insurance and risk management

· Risk definitions and typology

· Risk context

· Enterprise risk management and business continuity

· Risk assessment approaches

· Risk response

· Insurance and risk transfer

· Reputation and Business model risks

· Risk management standards

· Crisis management, communications and business continuity planning

Learning and teaching will be through a variety of different methods, including tutor input, class discussions, and small group seminars, case studies, presentations and examples from students’ own organisations, where possible, as methods of applying learning. Their own contribution will therefore be a critical factor in successfully achieving learning outcomes and the sharing of own experience will be used wherever possible to complement more theoretical underpinning and as an active learning method.

The teaching programme is delivered in a 4-hour block over a 12-week period comprising:

· One two-hour lecture. 

· One two-hour interactive seminar.          

Students will have four hours a week timetabled, which will be a workshop consisting of introducing students to the key models, methodologies and theoretical concepts of the module together with more informal discussions based around the relevant lecture topics using case examples and practical exercises.

Directed private study will include relevant data collection, analysis and writing up the risk management report using Moodle and other online resources as appropriate.

Students are expected to be knowledgeable about the use of new media for information gathering and dissemination. Indeed, students will be asked to demonstrate an ability to use technology by participating in presentations and preparing reports. Students are also expected to undertake a significant amount of reading, and failure to do so will undermine the value of the classroom experience. The self-managed learning time is guided through a portfolio of readings (textbook- and article-based) outlined in the supporting documentation for this module.

Course materials and learning guidance will be provided via the VLE moodle site.

Student responsibility in the learning and development process will be emphasised. Students are required to undertake directed self-study and prepare solutions/discussions to questions relative to various topic areas. Students will be encouraged to identify for themselves particular problems of difficulty and to use seminar discussions, where appropriate, for the resolution of these. Students must regularly access the Moodle site for this module. They should download the class/lecture material from the Moodle site, and do the recommended reading, before each lecture/class.

Where appropriate, students are also expected to download the relevant seminar questions and study them in advance of each seminar, in order to derive maximum benefit from seminar time. The programme of teaching, learning and assessment gives guidance on the textbook reading required for each week, the purpose of which is to encourage further reading both on and around the topic.

Getting Heard If at any time you are not clear about anything we have discussed, not sure if something is a good idea or not sure what to do - please talk to your seminar tutor or the module leader. Usually, we will make time then and there to discuss it or arrange a mutually more convenient time. If you don’t feel you can talk to any of the module team, then please contact your Course Director or the Head of Division.

Alternatively, ask your student course representative to discuss the matter at the next Course Board. Course Boards are held in each semester. They are a constructive forum in which participants – students, tutors and the whole course team - can exchange viewpoints and expectations regarding the operation of the course. They are attended by the Head of Division (HoD, or nominee), the Course Director, the relevant School Administrator and module leaders.

In addition, other staff involved in seminars and workshops and the School Information Advisor are always invited. Getting Help The Student Centre is intended as a ‘one-stop shop’ for getting confidential help with a range of things, including study skills and academic English. It’s free. Please make use it.

This module contributes to student employability by ensuring that they are well equipped for careers in risk management or insurance, as well as the professions, finance and broader scale commerce and industry.

Employability can be described as the ‘set of achievements – skills, understanding and

personal attributes – that makes graduates more likely to gain employment and be successful in their chosen occupations, which benefits themselves, the workforce, the community and the economy. Hence, the intended learning outcomes of this module are designed to assist participants in developing their resourcefulness and flexibility as ‘knowledge professionals’ and lifelong learners, capable of critically engaging with, evaluating and acting on information from disparate sources, including their own experience. As such, they are likely to be and to remain eminently employable.

All students – undergraduate, postgraduate, UK or international - can use the Employability and Careers Service Job Shop within the Student Centre. Their services are available to you for two years after graduation.

Where practicable, participants are encouraged actively to take up some of the many and

varied extra-curricular activities organised by professional bodies, employers, LSBU student societies and the LSBU Enterprise Centre: in particular, the CIBS lecture series

(http://bus.lsbu.ac.uk/cibs/ and the Start and Evolve enterprise talks and workshops organised by the Clarence Centre (see http://www.lsbu.ac.uk/business and http://www.lsbu.ac.uk/business/employ-our-students

The Lecture / Seminar sequence will focus on:

· Historical overview of insurance and risk management

· Current risk and insurance market features

· Risk identification, analysis and underwriting

· Alternative Risk Transfer (ART)

· Risk ‘packaging’ and placement

· Competitive intelligence, fraud and security

· Information risks, technology risks

· Relationships and ‘ownership’ of decisions and risks

· Corporate governance and professional risks

· Health & Safety and working practices

· Environmental, supply chain and project risks

· Sustainability and risk management

· Catastrophe risks

· Crisis management, communications and business continuity planning

Core Reading:

Borodzicz, E P (2005); Risk, Crisis & Security Management; Wiley

Hopkin, P. (2014 )Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management (3rd edition). Kogan Page Publishers

Optional Reading:

Poole-Robb, S. and Bailey, A. (2003); Risky Business – Corruption, Fraud, Terrorism & other threats to global business. Kogan Page Publishers

Reuvid, J. (2014) Managing Business Risk: A Practical Guide to Protecting Your Business (Edition 10) Kogan Page Publishers

Taylor, L. (2014); Practical Enterprise Risk Management: How to Optimize Business Strategies Through Managed Risk Taking, Publisher Kogan Page Publishers

Vaughan & Vaughan (2010); Fundamentals of Risk and Insurance; Wiley

Al-Thani, F (2008); Corporate Risk Management – an organisational perspective; Wiley

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