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2011/2012  KAN-CM_S82  Strategic Risk Management

English Title
Strategic Risk Management

Course Information

Language English
Point 7,5 ECTS (225 SAT)
Type Elective
Level Full Degree Master
Duration One Semester
Course Period Autumn
Please see e-campus.
Time Table Please see course schedule at e-Campus
Max. participants 150
Study Board
Study Board for MSc in Economics and Business Administration
Course Coordinator
  • Claus Parum - Department of Finance
Administration: Louise Bruun Christensen - lbc.fi@cbs.dk
Main Category of the Course
  • Finance
  • Management
  • Organization
  • Financial and management accounting
  • Corporate and Business Strategy

Taught under Open University-Taught under open university.
Last updated on 29 maj 2012
Learning Objectives
  • Study different approaches to strategic risk analysis and risk management
  • Analyze strategic risk exposures and develop appropriate responses
  • Critique contemporary approaches to corporate risk management
  • Discuss development of effective strategic risk management approaches
There are no formal limitations but prior knowledge in the areas of ‘strategic management’, ‘international financial markets’, and ‘risk management’ will be an advantage.
Strategic Risk Management:
Assessment Home Assignment
Marking Scale 7-step scale
Censorship No censorship
Exam Period Winter Term
Aids Without preparation
Duration Please, see the detailed regulations below

Students are required to submit an individual written study by the end of the course (the report is due on December 12). The study provides an opportunity to explore a range of issues related to various elements of strategic risk management in the context of a specific company. It is also possible to organize a comparative study of risk management practices across an industry and engage in other types of relevant studies as per agreement with the faculty. The study report must not exceed 15 pages excluding tables, figures, and appendices. The re-examination will be a four-hour written exam testing for conceptual understanding of course contents and ability to discuss various risk management approaches.
Course Content

The course provides an overview of the way risk assessment and risk management has been treated across different academic disciplines, e.g., insurance, financial management, general management, international business, multinational finance, etc. The course integrates diverse contributions to understand the origins of newer frameworks like Enterprise Risk Management (ERM) and develop approaches that may enhance its potential role as a useful management technique. Through discussions of relevant literature, contemporary management issues, and concrete business situations, the course will critique current applications of risk management with the aim of developing new approaches to effective strategic risk management.

Structure- the course will be structured around 10 intense three-hour class sessions (one session per week) held during the fall semester.

The course´s development of personal competences:

This course aims to provide a general understanding of the way different risk exposures can be managed in contemporary organizations as they engage in business activities on a global scale. As such, the course will approach the topic from the diverse perspectives of various academic disciplines that have focused on these managerial issues. This includes quantitative approaches developed in finance and insurance as well as more general analytical frameworks adopted in management, accounting, and strategy. The course will address current applications of risk management and consider alternative ways in which strategic management processes may enhance the development of strategic responsiveness in modern organizations.

Teaching Methods
The class will combine lectures with active class discussions of current issues and selective case examples. During classes there will be some interactive sessions with business executives to discuss current topics that challenge prevailing views on industry dynamics, competitive conditions, and contemporary managerial approaches. The students will be asked to work in groups on a comprehensive company study and complete a report on associated strategic risk management issues. Students are also required to complete an individual written exam testing general knowledge acquired during the course.

The course material will comprise a textbook, a collection of professional and academic articles, current policy studies, and working papers (relevant articles and policy papers will be available online).

· Andersen, T. J. and Schrøder, P. W. Strategic Risk Management Practice, Cambridge University Press, Cambridge, England, 2010. (ISBN: 978-0-521-13215-2)