MQM1HRB: Handling Risks at Board Level

Module code: MQM1HRB

Module provider: Marketing and Reputation; Henley Business School

Credits: 20

Level: Postgraduate Masters

When you'll be taught: Full year

Module convenor: Dr Nadeem Khan, email: nadeem.khan@henley.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: No placement specified

Academic year: 2024/5

Available to visiting students:

Talis reading list:

Last updated: 28 May 2024

Overview

Module aims and purpose

This module is designed for practising board members and senior managers and aims to enable them to:  

develop enhanced effective director judgement, skills and capabilities for handling risk 

recognise risk and handle uncertainty at board level 

appraise risk as a concept of future uncertainty (favourable and unfavourable outcomes) at the board level 

distinguish between controlling for risk and connecting contingencies in board decision-taking 

evaluate risk as an ongoing dynamic of strategic oversight and stakeholder engagement 

This module introduces risks as a concept of future uncertainty (favourable and unfavourable outcomes) at the board level. The relationship between risk and uncertainty will be considered in relation to business decisions; behavioural economics; cognitive bias; accounting and finance. The appetite and tolerance for risk will be understood and linked to internal/external factors. The perception of interpreting and reporting risk by board and board members will be considered as not just controlling against unfavourable outcomes/interruptions but more so, being better understood as a complex dynamic conceptualisation of connectivity between contingencies and resources i.e. a better board preparedness for possibilities - and as enabler for transformation. The module will further consider the relationship between risk and strategy at board level and how both of these need to be understood together as a business model. Students will be able to consider how to articulate board level risk reporting in meeting regulation and setting expectations/future direction for different stakeholders – regulators, auditors, legal, investors, shareholders and industry analysts. 

Risk at board level should be embraced as uncertainty i.e. dealing with it positively and in turn recognising it as offering options to create value and as opportunity for progress; risk then becomes an enabler as opposed to a simple control function too often linked to governance compliance and certainty seeking. Key elements of risk literacy include:  

• Board dynamics 
• Decision making environment 
• Strategic risk 
• Accounting and finance 
• Governance vs management 
• Managing uncertainty 
• Forecasting risk and strategy 
• Communicating risk 

Module learning outcomes

By the end of the module, it is expected that students will be able to: 

• Explain risk as having consequences in action favourable and unfavourable outcomes. 
• Formulate risk as more than just controlling against unfavourable outcomes 
• Assess different types of risk as part of decision-making process at board level 
• Evaluate their own board and organisational tolerances for risk as having the confidence to handle uncertainty rather than just a fear to control for possibilities 

Module content

This module provides insight into understanding risk and how to handle uncertainty at the board level. Students will benefit from understanding to recognise controlling for risk as different to making connectivity to contingencies. Students will learn about risk not as controlling for it, but as having confidence in dealing with risk as an ongoing dynamic that links it to decision making, stakeholders, finance and strategy at board level. Students will benefit from board level risk practitioner engagement in this module and gain learning applicable for directors across the private, public and third sector.  

This module is designed to allow for multiple delivery points. 

Content includes: 

• Appreciating risk as future uncertainty 
• Decision risk round the boardroom table 
• Homework briefing and case-study analysis 
• Case-study feedback 
• Risk as intrinsic part of strategy 
• Communicating risk to stakeholders 
• Private, Public and Third sector boards international governance contexts 

Structure

Teaching and learning methods

The module will be taught inclusive of risk practitioner insights. The lectures will include: 

• PowerPoint presentations 
• Appropriate use of learning technologies where relevant 
• Interactive Q&A 
• Individual/group exercises 
• work based and active learning opportunities 
• problem solving opportunities 

There will be an evening session end of day one on homework and case study analysis. Day two will include case study feedbacks combining theory and practice to support facilitated learning. 

T&L approaches and exercises will cater to individual needs by including wide ability range questions as part of scaffolding, moving progressively towards more active learning for confident learners. 

Each student will also have opportunity to contribute to their own diary as part of the learning experience. 

Guided Independent Study includes preparation and planning for scheduled sessions, pre-reading or research, follow-up work, wider reading, practice or application to practice, understanding learning tools and techniques (e.g. technologies, software and different research methods) - relevant to participants own area of interest or context of study. This also includes completion of assessment tasks e.g. getting access or information, analysing data, evaluating, synthesising and reflecting on the particular case or topic of interest. GIS is balanced between pre and post study. 

The contact hours are shown for one semester in the table below for illustrative purposes only. The actual timing of study hours will vary depending on your cohort start date. 

Study hours

At least 20 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

50% pass mark - Students need to achieve a mark of 50% in each assessment and overall 50% mark to pass this module

Summative assessment

Penalties for late submission of summative assessment

This module is subject to the Penalties for late submission for Postgraduate Flexible programmes policy, which can be found at:

https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmissionpgflexible.pdf

The Module Convenor will apply the following penalties to work submitted late:

• where the piece of work is submitted up to one calendar month after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark; 
• where the piece of work is submitted more than one calendar month after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs