Risk is good: It is a source of sustainable profits. Risk is bad: It can damage profitability and the future of the organisation. A strategic risk is any risk an organisation faces which, if it occurred, would significantly affect the organisation's ability to meet its strategic objectives. Managing strategic risks requires both risk-taking and risk-reducing activities. How can this be balanced in uncertain times?
- What is it?
This two day workshop offers ideas on how to achieve positive results from balancing risk, taking risk and risk reduction through strategic risk management.
In both formal and practical sessions, we will introduce a range of tools and techniques that senior managers can apply to prioritise risks for strategy implementation and realisation, and identify ways to manage the potential impact of these risks on organisational objectives.
- Who should attend?
- This workshop is designed for senior managers who have a responsibility to achieve corporate or other organisational objectives
- Attendees should be part of management teams that make a direct input into strategy formulation for their organisation
- There are no prerequisites in terms of job function or size of business. Any member of a strategy setting team will be appropriate for this course
- The course is not for aspirational junior managers.
- What are the benefits?
By the end of the two day programme delegates will have:
- Recognised the importance of a risk and uncertainty management based approach to strategy development
- Reflected upon risk appetite, culture and communication with examples of best practice
- Acquired for use, a range of tools and techniques to manage risk in an holistic way through strategy setting
- The ability to consider risk management in strategic projects
- Acquired an understanding of how to manage strategic risk in an holistic way through frameworks and models such as Enterprise Risk Management
- Recognised the importance of managing reputational risks and use techniques for managing these risks
- Discussed with other senior managers the range of risks facing organisations in their markets.
Your organisation will benefit from:
- A broad best practice approach to managing uncertainty and risk in strategy setting
- A set of tools and techniques to diffuse throughout the organisation
- Discussions with other senior managers facing the same risks, issues and dilemmas.
- Day 1
Introduction to strategic risk management processes and the management of risk and uncertainty in marketplaces
- Introduction to strategic risk management
- Corporate governance and risk
- The strategic risk management process
- Managing risks and uncertainties in marketplaces
- Risk appetite, culture and communication.
- Day 2
Practicalities of Strategic Risk Management
- Enterprise Risk Management and other risk management structures
- Project and programme risk management to support strategic risk management
- Safeguarding reputation - managing risk to reputation
- A final strategic risk to manage - business continuity
The programme is led by Terry Kendrick, Director of Executive Education at Leeds University Business School. Terry has 25 years' consulting experience in strategy, strategic marketing planning and strategic risk management. He has written academic papers on strategic risk management and also contributed to trade publications explaining the practical significance of key strategic risk models and frameworks in this area. Earlier in his career Terry was MBA Programme Director at the University of East Anglia where he taught the first UK MBA core module on Strategic Risk Management from 2007-2014, receiving high evaluations for style and content. Previous to this Terry was a consultant and undertook projects in 20+ countries with over 50 organisations either as a self-employed consultant or as part of the Cranfield Marketing Planning Centre at Cranfield University.
For further information please contact the Executive Education Team.
Tel: +44 (0)113 344 3911