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Integrating Risk into Strategic Decision-Making – Live Online

Image of a man in a classroom, taking part in a group discussion.

Overview

Economic volatility, regulatory change and digital disruption are the new normal. Leaders require new ways to manage and respond dynamically to complex risks and uncertainties. Which strategic risks are critical to avoid – or essential to take? Now is the time to take a broader view beyond the traditional areas of operational, financial and compliance risk and embed risk as a relevant element for consideration in strategy setting.

Forward thinking organisations use risk as a fully leveraged tool for strategic decision-making; to challenge strategy, business planning and key decision-making processes, quantify the impact of major risks and opportunities, estimate the degree of volatility of expected results and to proactively select and implement risk responses to drive business performance.

Being able to identify and evaluate overall risk within the strategic plan and integrating risk across strategic planning will improve the quality of organisational decision making and increase the responsiveness to threats as well as opportunities.

This programme is designed to help leaders recognise and manage the interaction between the broader environment and strategy. We will look at some of the risk-informed decision-making components such as risk appetite, culture, strategy, business context, scenario generation. You will be guided through practical frameworks to assess strategic implications from risks associated with the way your organisation works in practice. By the end of the programme, you will leave with a reassessment of both your strategy and how to effectively implement it in a world shaped by complex decision-making environments. You will be able to identify current risks and anticipate emerging risks to seize the opportunities hidden within them.

During this programme you will take part in team exercises in small breakout groups where you will gain feedback from your peers and faculty members. Work on a scenario take away task for your organisation and bring it back for discussion and analysis. You will also interact with an established panel and learn from their insights and experience.

Our Live Online programmes offer the same quality and academic rigour associated with all Cambridge education:

  • Delivered by Cambridge Judge Business School’s world-class faculty – Cambridge Judge is a strong research-oriented business school with 19 research centres. All programmes are designed and led by an Academic Programme Director who is a member of Cambridge Judge faculty.
  • Drawing upon the strengths and resources of the wider University of Cambridge and the Cambridge ecosystem, including accessing global alumni and specialists as guest speakers
  • Small class sizes (maximum 30) and high levels of interaction with world-class faculty.
  • Emphasis on quality outcomes – we seek to monitor our delivery against the individual needs of participants. It is no accident that a little over half of our open programme participants come back to Cambridge Judge at least once, often multiple times.
Fantastic programme. I enjoyed the mix between the academic teaching from Professor Danny Ralph and Dr Kishore Sengupta, and the real-life experiences brought in by Dr Mark Bloomfield and Phillip Brice. A nice balance of everything, and plenty to think about. As a non-risk manager, it provided a number of tools and frameworks I can use in my own area, and a broader view of managing risk.
Pietro Gatti, Associate Director, Scientific Research, Illumina

Topics

This programme is hosted by Academic Programme Directors Professor Daniel Ralph, Operations Research and Academic Director of the Cambridge Centre for Risk Studies, and Dr Kishore Sengupta, Reader in Operations Management. You will benefit from their cutting-edge insights and extensive exposure to executive thinking.

In the first part of the programme, you will analyse how risk informs your strategic perspective. By the end of part one you should be able to:

  • Manage risk-related behaviours and heuristics in yourself and others
  • Define your organisation’s appetite for risk
  • Evaluate how your organisation’s culture impacts its approach to uncertainty
  • Apply scenario planning frameworks to identify and assess drivers of change for your organisation.

In the second part of the programme, you will evaluate how risk affects the implementation of your strategy. By the end of part two you should be able to:

  • Stress test your current strategy to assess the risk of operating today’s business as usual in future
  • Identify vulnerabilities in your business model to improve resilience for future systemic events
  • Recognise how a small event transitions to a systemic event through complexity and contagion
  • Evaluate how your organisation functions in crisis.
Graphic to illustrate the topics on the Integrating Risk programme: scenario generation, scenario assessment, managing complexity, systemic effects and contagion and risks to the enterprise.

Benefits

This programme will help you and your organisation to:

  • Recognise and manage the interaction between the broader environment and your strategy, and the strategic implications/risks associated with the way your organisation works in practice
  • Develop an awareness of how risks occur in immediate and longer-term contexts
  • Learn how to manage risks to create competitive advantage
  • Take away a toolkit that you can apply and cascade to your team to integrate risk into strategic decision making
  • Learn how to apply scenario generation techniques to your own organisation
  • Avoid “the prediction trap” of preparing for one future
  • Understand how to truly integrate risk discussions into strategic decision making and how this leads to exploit the opportunity implicit in risk and uncertainty to drive better business outcomes.
Icon: Executive Education Certificates of Achievement.

This programme counts towards the Cambridge Judge Business School General Management Certificate of Achievement. On completing the GMCA you will be eligible to become an associate member of Cambridge Judge Business School’s global network of graduates and business-focused University of Cambridge alumni, faculty and staff.

Who should attend

  • Senior executives and general managers responsible for setting and implementing the strategic direction of their organisation
  • Directors and those in senior leadership positions responsible for organisational change and responding to new challenges and opportunities as they emerge
  • Directors and those in senior leadership positions responsible for risk, resilience, business continuity, or crisis management who wish to take their thinking on resilience to a more strategic level
  • Sending a small group of executives on this programme will foster teamwork and amplify the programme’s impact. Executives will be asked to work on a situation / existing initiative within their own organisation over the weekend and bring it back for discussion and analysis into the virtual classroom. Group rates are available on request.
I can wholeheartedly recommend this programme. By far the very best I have attended, across subjects, schools and continents. I particularly enjoyed the energy and wisdom of the professors who provided relevant (non-COSO) frameworks that I can apply immediately in my day-to-day work and as a Board member; the excellent guest speakers who shared their industrial insight and experiences; and last, but not least the excellent crowd of fellow attendees who I am sure I will reach out to and pick their brains on various subjects in the near and distant future.
Mari Vonen Internal Audit Director at Yara International

Faculty & speakers

Daniel Ralph

Professor of Operations Research

PhD (University of Wisconsin)

Kishore Sengupta

Reader in Operations Management

MBA, PhD (Case Western University)

Dates & fees

Dates

Duration

Fees *

25-27 October and 1-3 November 2021

6 half-day sessions (mornings, UK time)

£2,475 + VAT

21-23 and 6-28 September 2022

6 half-day sessions (mornings, UK time)

£2,475 + VAT

For information regarding payment terms, cancellation rights, transfer policies and fees, please see our terms & conditions documents:

Terms & Conditions for Self-funded Applicants (pdf, 277KB) (updated 4 September 2019)
Terms & Conditions for Organisation-funded Applicants (pdf, 295KB) (updated 4 September 2019)

Registration closes at midday two working days before the programme start date.

Participants are expected to attend the full programme.

Please ensure that you have read our Frequently Asked Questions, which provide important additional information about our face-to-face and Live Online programmes, in particular during the COVID-19 pandemic.

Reserve a place

Our programmes are very popular and tend to fill quickly. We cap the group size at 25. It is therefore advisable to reserve a place on specific sessions. This will simply keep your place until you are able to send in the application form, and we will remain in touch with you to inform you when the programme is almost full.

Reserve a place

If you have any questions or would like to have a chat about this programme and how it could benefit you or your organisation, please get in touch with the programme advisor:

Elizabeth McDonald

Corporate Business Development Director
Tel: +44 (0)1223 765496
Mob: +44 (0)7548 708065

Schedule a call with Elizabeth

[email protected]

Access Elizabeth's profile

Elizabeth McDonald


Version 1.3 (16 July 2021)

Suite

Strategy & Growth

Duration

6 half-day sessions (mornings, UK time)

Dates

25-27 October and 1-3 November 2021
21-23 and 26-28 September 2022

Apply

Download a brochure

To find out more about our range of open enrolment programmes, download our brochure.

Download the brochure