Course Overview
This Risk Management course is designed to prepare future entrepreneurs to understand and mitigate risks associated with their new business venture. When starting a new business, it is important to understand the need for risk management and how to address issues that could jeopardize the future development of a business. During the course, entrepreneurs will consider the principles of risk management, processes associated with managing risk, identification of a variety of forms of risk including financial, operational, and political, risk management tools, analysis, and planning. The course is intended to
provide future entrepreneurs with a practical, how‐to guide to risk management and highlights best practices in risk management that will be useful for entrepreneurs as they build a new business.
Learning Outcomes
1. Understand the principles of risk management and apply them in a practical way in a small business context.
2. Explain key risk management concepts within the context of lessons learned by small business entrepreneurs.
3. Identify that forms of risk that impact a new business venture including financial, operational, social, political, and technological risks.
4. Understand and apply risk management processes and tools to small business and entreprenerial contexts.
5. Understand and apply risk management strategies to a new business venture.
6. Develop a risk management plan for their new business venture.
Syllabus
1. Introduction to risk management
2. The principles of risk management
3. Risk management tools and processes
4. Risk reduction, mitigation, and control strategies
5. Risk management planning