BOSTON—Harvard Business School (HBS) has announced a new Executive Education program, Risk Management for Corporate Leaders: Integrating Best Practices for Superior Strategy Execution, to help senior executives understand the importance and necessity of robust risk management systems to the long-term success of their organizations.
Risk Management for Corporate Leaders will guide participants through real-world examples of companies that have faced significant and unexpected situations, illustrating how the strategies and processes either succeeded or failed. Participants will learn to identify risk, raise the awareness of risk management within their companies, implement processes to manage both internal and external risks, and find the balance between innovation and risk management.
In the wake of the financial crisis, and recent losses suffered by BP following the Gulf oil spill, it is more important than ever for companies to give greater prominence and resources to their risk management processes.
"Risk management is too often separated from other core business functions, and a culture of suppressing the 'bad news' can lead to very costly problems later on," said Robert Kaplan, Baker Foundation Professor at HBS and faculty chair for Risk Management for Corporate Leaders. "Installing the appropriate infrastructure and processes to effectively manage risk should represent a highly favorable trade-off: investing now to avoid a much higher payout in the future should an unexpected and unmitigated risk event occur."
The program will focus on how to integrate risk management as a crucial responsibility for senior leaders so that they can guide their company to participate in high-innovation and high-reward strategies while protecting the organization from risks—both controllable and uncontrollable.
"Creating a culture of risk management needs to come from the top executives at a company," said Kaplan. "Executives who participate in this course will leave with a clear understanding of how to develop that culture and how to find the right balance between innovation and managing the potential downsides of business strategies."
This comprehensive program will guide participants through the latest research and best practices in risk management through interactive classroom discussions and faculty lectures with a diverse group of accomplished peer leaders.
Risk Management for Corporate Leaders: Integrating Best Practices for Superior Strategy Execution will run from November 28 to December 3, 2010, and will take place at the HBS Campus. Please visit http://www.exed.hbs.edu/programs/risk/ for complete curriculum details and to apply.
Risk Management for Corporate Leaders: Integrating Best Practices for Superior Strategy Execution (November 28-December 3, 2010, HBS Campus)
- Dennis W. Campbell, Associate Professor in the Accounting & Management Unit.
- Amy Edmondson, Novartis Professor of Leadership and Management and Co-Unit Head of the Technology and Operations Management Unit.
- Paul M. Healy, James R. Williston Professor of Business Administration and Henry B. Arthur Fellow. Director of Research; faculty chair of "Audit Committees in a New Era of Governance" and "Strategic Financial Analysis for Business Evaluation."
- Robert S. Kaplan, Baker Foundation Professor. Member of the Accounting and Management Unit; faculty chair of "Driving Corporate Performance: Aligning Scorecards, Systems, and Strategy" and "Risk Management for Corporate Leaders: Integrating Best Practices for Superior Strategy Execution."
- Anette Mikes, Assistant Professor of Business Administration. Member of the Accounting and Management Unit.
- Robert L. Simons, Charles M. Williams Professor of Business Administration. Member of the Accounting and Management Unit.
- Peter Tufano, Sylvan C. Coleman Professor of Financial Management. Senior Associate Dean; member of the Finance Unit.