21664 Managing Risk and Opportunity
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particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2025 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(s): 48 credit points of completed study in 48cp a Business Faculty Bachelor's Degree OR 48 credit points of completed study in 48cp a Business Faculty Bachelor's Combined Degree OR 48 credit points of completed study in 48cp a Bachelor's Combined Degree with Business Faculty
These requisites may not apply to students in certain courses. See access conditions.
Description
Post GFC, business leaders are re-thinking the management of uncertainty. All enterprises face uncertainty and the challenge for management is to determine how much uncertainty to accept as it strives to grow stakeholder value. Uncertainty presents a dichotomy of risk and opportunity, with a potential to erode or enhance value. The critical question is how best to manage risk to derive value. Students will learn techniques for identifying, responding to, monitoring and communicating risk using analytics software.
Subject learning objectives (SLOs)
| 1. | Demonstrate an understanding of enterprise risk management theories |
|---|---|
| 2. | Evaluate risks in strategic and tactical initiatives in organisational settings |
| 3. | Assess the sustainability of businesses by use of appropriate risk management tools |
| 4. | Articulate the role of risk managers and their expected standards of performance in organisations |
Contribution to the development of graduate attributes
This subject is aligned with the graduate attribute of communication and collaboration.
This subject immerses students in the complex areas of risk and opportunity. Post GFC, business leaders are re-thinking the management of uncertainty. All enterprises face uncertainty, and the challenge for management is to determine how much uncertainty to accept as it strives to grow stakeholder value. Uncertainty presents a dichotomy of risk and opportunity, with a potential to erode or enhance value. The critical question is how best to manage risk to derive value. Students will learn techniques for identifying, responding to, monitoring, and communicating risk using analytics software.
The subject is part of the Digital Creative Enterprise major and the Event Management major of the Bachelor of Management, building on skills and knowledge learnt in the core by applying them to issues that are specific to the creative industries.
This subject also contributes specifically to the development of the following Program Learning Objective for the Bachelor of Management:
- Develop effective communication skills to enable cogent knowledge transfer with colleagues, this enabling productive project outcomes relevant to professional practice (2.1)
Teaching and learning strategies
The subject is presented in seminar format. Essential principles are presented and analysed and students are lead through practical application exercises.
Content (topics)
- Principles of Enterprise Risk Management (ERM)
- Strategic Risk
- Leadership Risk
- Life Cycle Risk
- Horizon Risk
- Financial Risk
- The Role of Risk Managers
- ERM Technology
- Implementation of ERM
- Case Studies from the field
Assessment
Assessment task 1: Critical Analysis (individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 40% |
| Length: | Essay: 1500 words +/- 10% (excluding reference list) |
Assessment task 2: Presentation (group)*
| Intent: | Industry case study, 15 marks individually assessed, 15 marks group assessed |
|---|---|
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
| Weight: | 30% |
| Length: | Presentation: 15 minutes Risk Management Plan: per template. No word limit |
| Criteria: | *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 3: Final exam (individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 30% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Hampton. J.J., (2015) Fundamentals of Enterprise Risk Management Second Edition. Amcon. New York. ISBN 13:978-08144-4903-5
Also available as E Book.
Recommended texts
Beirman. D (2021) Tourism Crises & Destination Recovery.Sage Publications London. (available in print and as an E book)
Dunn C.E., (2012). Planning Work Health and Safety- An introduction to Best Practice. CCH Australia.
References
Allen J, O'Toole W. Harris, R, Mc Donnell. I (2008) Festival and Event Management. John Wiley and Sons. Milton QLD
Beirman. D., (2003) Restoring Tourism Destinations in Crisis. Allen and Unwin, Crows Nest , Sydney
Beirman. D., (2021) Touris, Crises and Destination Recovery. Sage Publocations. London. (inpublication during the semester)
Foster. N. (2012) Workplace Health and Safety Law in Australia. Lexis Nexis Butterworth Australia
Henderson. J., (2007). Tourism Crises, Causes , Consequences and Management.Elsevier. Amsterdam
Hubbard G., and Beamish P., (2011) Strategic Management. Thinking, Analysis and Action. Pearson Australia
Lowenstein, A., (2015) Disaster Capitalism: Making a Killing out of Catastrophe. Verso. London and New York
Tarlow. P., (2014) Tourism Security. Elsevier Amsterdam
United Nations Economic and Social Commission to Asia and the Pacific (2013). Building Resilience to Natural Disaster and Major Economic Crises United Nations. New York
World Bank (2013). Risk and Opportunity 2014- Managing Risk for Development World Bank Washington DC (NB this is available on
Canvas.
Other resources
There are countless resources for this subject, especially on-line area.
The following Organisations can be of assistance;
Emergency Management Australia - look for the Knowledge Hub
Australian Department of Foreign Affairs and Trade : DFAT Crisis Hub
NSW Department of Small Business
Kenyon International Emergency Assistance
International SOS
Intelligent Travel- Excellent for Coverage of Security related issues
Choice Magazine
Some Relevant Academic journals include.
Annals of Tourism Reseearch
International Journal of Event Management Research
Journal of Hospitality and Tourism Management
Journal of Risk Management
The Australian Journal of Emergency Management
Risk Sense Software