Risk Management Decisions

Code

BUSI2050

School

Business

Level

2

Credits

10

Semesters

Autumn UK

Summary

This module will introduce the different aspects of corporate risk and examine how the risk of fortuitous loss may affect the various stakeholders in the operations of firms. It will cover qualitative and quantitative models of risk management decisions taken by individuals and corporate stakeholders in several contexts.

Target Students

Part I Undergraduate students in the Business School who have taken BUSI1008 Quantitative Methods 1B and Part II students on the BSc Hons Financial Mathematics degree.

Co-requisites

Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:

• Quantitative Methods 1b (BUSI1008)

Classes

• One 1-hour seminar each week for 2 weeks
• One 1-hour lecture each week for 11 weeks
• One 1-hour lecture each week for 11 weeks

11 sixty-minute Asynchronous lectures, 11 sixty-minute Lecture Engagement sessions, and 2 sixty-minute seminars.

Assessment

• 100% Exam (2-hour): Examination - 4 questions.

Assessed by end of autumn semester

Educational Aims

Learning Outcomes

Knowledge and understanding
This module develops a knowledge and understanding of:
•    The dynamic and changing nature of business and the consideration of the future of organisations within the global business environment, including the management of risk
•    The development, access and operation of markets for resources, goods and services
•    The sources, uses and management of finance
•    The use of accounting and other information systems for managing financial risk
•    The development, management, application and implementation of information systems and their impact upon organisations
•    The development of appropriate policies and strategies within a changing environment to meet stakeholder interests
•    The use of risk management techniques and business continuity planning to help maximise achievement of strategic objectives on the economic, social and environmental conditions of the future.
•    The need for individuals and organisations to manage responsibly and sustainably and behave ethically in relation to social, cultural, economic and environmental issues
•    Theories, models, frameworks, tasks and roles of management

Intellectual skills
This module develops:
•    The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
•    The ability to analyse and evaluate a range of business data, sources of information and appropriate methodologies, which includes the need for strong digital literacy, and to use that research for evidence-based decision-making
•    Conceptual and critical thinking, analysis, synthesis and evaluation

Professional practical skills
This module develops:
•    Self-analysis and awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.
•    Commercial acumen based on an awareness of the key drivers for business success, causes of failure and the importance of providing customer satisfaction and building customer loyalty

Transferable (key) skills
This module develops:
•    Communication and listening including the ability to produce clear, structured business communications in a variety of media
•    An awareness of the interpersonal skills of effective listening, negotiating, persuasion and presentation and their use in generating business contacts
•    Ability to work with people from a range of cultures
•    Articulating and effectively explaining information

Knowledge and understanding (Industrial Economics)
This module develops a knowledge and understanding of:
•    The nature, sources and uses of qualitative data and an ability to select and apply appropriate methods that economists might use to analyse such data.
•    The nature, sources and uses of quantitative data and an ability to select and apply appropriate methods that economists might use to analyse such data.

Conveners

• Dr Zoya Saher