Программа дисциплины «Стратегический менеджмент» - страница №1/1
Правительство Российской Федерации
Федеральное государственное автономное образовательное учреждение высшего профессионального образования
"Национальный исследовательский университет
"Высшая школа экономики"
для направления 080300.68 финансы и кредит
магистерская программа «Финансовые рынки и финансовые институты»
Stuart Lawson, Ernst & Young LLC
Одобрена на заседании кафедры
Ernst & Young LLC «__» _____ 201 г
Зав. кафедрой Смирнова С.Л.
Рекомендована секцией УМС «Конкретная экономика» «___»____________ 20 г
Утверждена УС факультета Экономики
Ученый секретарь Т.В. Коссова ________________________
Настоящая программа не может быть использована другими подразделениями университета и другими вузами без разрешения кафедры-разработчика программы.
Course name: Strategic management
Level: Master, 1st year
Language of instruction: English
Period: Module 4
Workload: 24 hours
LECTURER: Stuart Lawson, Ernst & Young LLC
- executive director, Head of UK Business Center, senior advisor for financial institutions and government initiatives in Russia and the CIS, Ernst & Young Moscow.
Risk management, financial and non-financial risks. The course will provide students with a practical framework to manage the differing types of risk (operating, financial, political systemic, management, physical) that they are likely to encounter in their careers.
The approach will focus on the practical elements of risk management and whilst
there will be references to the theory of risk management, the core focus will be on real life situations.
The course will use case studies to illustrate key points that then will be discussed by the class in teams. Guest speakers will be drawn from a wide range of industries and will bring risks and their management to life.
The role-playing for the credit application will create an environment in which the class will review a business plan and then seek to defend a proposal to establish credit facilities with a bank. The objective will be to focus specifically on the risk element of the proposal and to experience the review of a senior credit officer.
Analyze the constellation of risks that exist within the business world, their differing characteristics and their potential impact on the dynamics of the business model.
Develop an understanding of financial and operating risk, its components and impact. Viewed from the perspective of banking, what are the implications of differing risks and how can these be mitigated?
Enable students to understand the impact of a crisis on the business model and management. Analyze the role of a crisis manager and the tools needed to survive unexpected, negative events.
Experience the process of creating and defending an application for credit facilities from a bank. This will enable the students to gain a banker’s eye perspective.
30% - class participation
15% - preparing responses for the cases (+ in written form)
15% - restructuring
40% - final assignment – approval
The Big Short, Martin Lewis
Lecture/discussion; an introduction to financial and non-financial risk management
Class discussion on what constitutes a risk (operating, financial, physical etc). Emphasis will be placed on defining a very broad range of risks. The analysis will then explore the connectivity of risks and the importance of the dynamics of risk over time.
What are the Black Swans and how do they affect our view of risk?
What impact do these risks have on the business model and what tools can be used to mitigate them? Focus will be on how to measure risk and the importance of creating a forward-looking ‘radar’.
Introduction to Restructuring
Other operating risks.
Detailed review of types and impact of risks:
-Technological (information security)
Breakout session teams to create presentation on risks and their proposed mitigants. Learnings would include the importance of understanding the extent of risks faced, scenario planning and sticking to an action plan.
Team presentation of the case study and learnings.
Lecture/ discussion; the human element in Risk, impact of management.
The objective is to highlight the importance of the management element in control of risks.
Decision-making in crisis, what are the core competences? Specifically what differentiates the winners from the losers.
Role of a crisis manager. This role is critical and requires a skill set that can be learned. Importance of maintaining flexibility whilst rigidly enforcing the action plan. Short case studies from the author’s experience.
Failure of management. Focus will be on how the situation developed and the role of management in its collapse. Key issues around integrity will be explored and warning signs analyzed
Break-out session for case analysis. Team presentation of risks encountered in Enron.
Decline, fall and recovery.
Lecture/the banker’s perspective.
What are the components of financial risk? Review the differing on and off balance sheet financials risks and their impact on the business model.
Tools used by companies and banks to manage financial risk. Analysis of counterparty, liquidity risks. Use of hedges and swaps, role of debt rating etc.
How does a bank look at risk?
The objective is to allow students to experience the process of a credit approval from a bank and to understand the key decision points and observations that a banker is likely to use in making their judgement.
Briefing on what to look for.
Review of materials by teams and create presentations
Present risks for review
Feedback and summary
Management of PR Risk and module wrap-up.
What are the initial steps on taking control of a bank as CEO
What issues should you be aware of?
What can go wrong and how to avoid the worst consequences
Томпсон-мл., А. А. Стратегический менеджмент. Вильямс, 2009