This unit prepares learners for working in a commercial environment by providing an insight into the different risk profiles from both an organisation’s and an individual’s perspectives. The three units are understanding business risk, managing risk and innovation and creativity.
The aim is to provide learners with an understanding of what makes an effective organisation in balancing out opportunity with change.
This unit will involve the learner in developing risk profiles and identifying risk management strategies for selected case studies. These will be available online as used as a means to illustrate the different ways organisations approach change. The course material will be closely linked with creativity and innovation.
Learning Outcomes and Assessment Criteria
On successful completion of this unit a learner will be able to:
1. Review organisations risk tolerance in different environments
1.1 Identify environments
evaluate the likely
business of those
1.2 Provide examples of organisation’s tolerance to risk
taking and evaluate how organisations can measure tolerance
2. Develop skills to identify and assess the risk profiles of organisations
2.1 Produce a risk profile for an organisation
2.2 Review and comment on risk profiles of organisations in different industries
2.3 Discuss enterprise wide risk and the benefits and drawbacks of such an approach
3. Investigate how innovation can be used to reduce risk aversion in growing organisations.
3.1 Analyse the possible risks of innovation in an organisation
3.2. Produce examples of how to manage innovation risk so that innovation can be used to create advantage