Risk and Society

Code School Level Credits Semesters
BUSI4451 Business 4 20 Autumn UK
Code
BUSI4451
School
Business
Level
4
Credits
20
Semesters
Autumn UK

Summary

The module will provide critical foundations in societal aspects of risk management. Students will develop conceptual and practical understanding of risk problems in context, including the emergence and development of risk concepts, the character and diversity of risk governance and regulatory regimes, and varieties of public risk management and communication practices across different sectors and public and institutional settings. Students will gain knowledge of social science and public management theories, concepts and techniques, and critical approaches to explaining and addressing societal risk issues. Indicative topics include: social and cultural theories of risk; the risk society; risk communication and the Mental Models approach; the constitution of risk communication; the social amplification of risk framework; risk regulation regimes and risk governance approaches; risk and social resilience; corporate social responsibility, ethics and risk; uncertainty and precaution; emerging technologies and risk; disaster preparedness and emergency management; knowledge controversies.

Target Students

Core module for MSc Risk Management and available to MSc Exchange students.

Classes

This module is taught through a combination of lectures and seminars.

Assessment

Assessed by end of autumn semester

Educational Aims

Addressing the societal aspects of risk problems demands understanding the sociocultural contexts of risk, the political dynamics of risk regulation and governance, and the myriad factors shaping the success of different approaches to publicly communicating and managing risk across a variety of settings. Students will be able to critically analyse risk problems across wide variety of settings, evaluate the context and dynamics of varieties of risk governance and management options, and develop reflexive risk communication strategies.

Learning Outcomes

Knowledge and Understanding:
• The dynamics of the global economy and international business &/or an awareness of cultural, legal/regulatory, political, and economic differences across countries &/or an appreciation of management issues from a global perspective.
• Finance - the sources, uses and management of finance
• Information systems and business intelligence - the development, management, application and implementation of information systems and their impact upon organisations
• Communications and the comprehension and use of relevant communications for application in business and management, including the use of digital tools
• Digital business and the development of strategic priorities to deliver business at speed in an environment where digital technology is reshaping traditional revenue and business models, associated risk management
• The importance of sustainability issues, including an understanding of the challenges and opportunities arising from the activities of people and organisations on the economic, social and environmental conditions of the future.
• Strategic management - the development and implementation of appropriate strategies within a changing environment
• Strategic risk management and issues of compliance

Intellectual Skills:
• Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
• Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions

• Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills

Professional Practice Skills:
• The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of qualitative data, synthesis and reporting

• Effective performance within team environments and the ability to recognise and utilise individuals' contributions in group processes and to negotiate and persuade or influence others; team selection, delegation, development and management.
• Leadership and performance management: selecting appropriate leadership style for different situations; setting objectives, motivating, monitoring performance, coaching and mentoring

• The ability to recognise and address ethical dilemmas, corporate social responsibility and sustainability issues, applying ethical and organisational values to situations and choices

Transferable (Key) Skills:

• Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports

• High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict  resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience

• Soft skills: understanding the needs of others and empathy towards them; sensitivity to diversity in people and in different situations

Conveners

View in Curriculum Catalogue
Last updated 07/01/2025.