Lecture 7: Risk Management in Strategic Management

Business & Economics - Lecture 7: Risk Management in Strategic Management - 13 slides

Explore Lecture 7: Risk Management in Strategic Management, covering This lecture focuses on the integration of risk management tools within strategic decision-making, emphasizing key.

Topics Covered

  • Introduction to Risk Management in Strategic Management
  • Key Steps in Risk Management for Strategic Decisions
  • Risk Assessment Techniques: Tools and Frameworks
  • Business Continuity Planning: Frameworks and Implementation
  • Scenario Analysis: Preparing for Uncertainty
  • Strategic Flexibility: Adapting to Change
  • Quantitative Tools for Risk Management: Expected Monetary Value (EMV)
  • Risk Appetite Frameworks: Defining Tolerance Levels
  • Decision-making Under Uncertainty: Decision Trees
  • Introduction to Risk Monitoring and Response Strategies
  • Enterprise Risk Management (ERM): An Integrated Approach
  • Real Options Analysis: Dynamic Decision-Making in Uncertain Environments
  • Key Takeaways and Closing Thoughts

References

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  • Hillson, D. & Hulett, D. (2004) Project Risk Management: Principles and Practices. Boca Raton: CRC Press.
  • Kerzner, H. (2017) Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 12th edn. Hoboken: Wiley.
  • ISO (2019) ISO 22301:2019 Security and resilience - Business continuity management systems - Requirements.
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  • Rigby, D.K., Sutherland, J. and Takeuchi, H. (2016) 'Embracing Agile', Harvard Business Review, 94(3), pp. 40-50.
  • PMI (2017) A Guide to the Project Management Body of Knowledge (PMBOK® Guide). 6th edn. Newtown Square, PA: Project Management Institute.
  • Hubbard, D.W. (2009) The Failure of Risk Management: Why It's Broken and How to Fix It. Hoboken, NJ: Wiley.
  • COSO (2017) Enterprise Risk Management – Integrating with Strategy and Performance. AICPA.
  • Kaplan, R.S. and Mikes, A. (2012) 'Managing Risks: A New Framework', Harvard Business Review, June 2012.
  • Hubbard, D.W. (2020) How to Measure Anything in Cybersecurity Risk. 2nd edn. Wiley.
  • Savage, S.L. (2002) The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty. Wiley.
  • Hillson, D. (2016) Practical Project Risk Management. 3rd edn. Boca Raton, FL: CRC Press.
  • PMI (2017) A Guide to the Project Management Body of Knowledge (PMBOK Guide). 6th edn.
  • COSO (2017) Enterprise Risk Management: Aligning Risk with Strategy and Performance.
  • Nocco, B.W. and Stulz, R.M. (2006) 'Enterprise risk management: Theory and practice', Journal of Applied Corporate Finance, 18(4), pp. 8-20.
  • Black, F., and Scholes, M. (1973) 'The pricing of options and corporate liabilities,' Journal of Political Economy, 81(3), pp. 637–654.
  • Amran, M. and Kulatilaka, N. (1999) Real Options: Managing Strategic Investments in an Uncertain World. Boston: HBS Press.
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