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Lecturer(s)
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Kolčavová Alena, Mgr. Ph.D.
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Metzker Zdenko, Ing. Ph.D.
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Course content
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Emphasis is placed on understanding the role of the risk manager, crisis communication and, last but not least, the economic and substantive nature of crises. Upon completion of this course, the student should be able to describe selected financial (especially foreign exchange) and non-financial risks (especially operational) in an appropriate manner, structure a decision problem and apply appropriate tools for its analysis. Furthermore, the student will be able to identify, evaluate and manage risks based on the knowledge acquired. The methodology of scenario development with modern analytical modelling approaches is also demonstrated. In the second part of the course, students are introduced to the actual risk management issues. Students are also introduced to a number of practical and widely applicable methods and tools to support multi-criteria decision making. - Introduction to Risk Studies. Historical development of risk management. - Modern risk management tools. - Tools for managing financial risk, particularly foreign exchange risk. - Quantification of risk - Cyber risks - Decision-making roles in management practice and their classification. - Tools and methods to support managerial decision making. - Risk mitigation methods - Crisis management - Practical approaches to risk management
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Learning activities and teaching methods
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- Participation in classes
- 26 hours per semester
- Preparation for examination
- 25 hours per semester
- Home preparation for classes
- 35 hours per semester
- Preparation for course credit
- 25 hours per semester
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| learning outcomes |
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| Knowledge |
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| Explain the importance of managing both hazard, controlled, and opportunistic risks |
| Explain the importance of managing both hazard, controlled, and opportunistic risks |
| Clarify the importance of risk management in an organization in the context of long-term sustainability |
| Clarify the importance of risk management in an organization in the context of long-term sustainability |
| Apply risk management methods such as bow-tie and FMEA |
| Apply risk management methods such as bow-tie and FMEA |
| Assess the level of uncertainty based on scenario analysis |
| Assess the level of uncertainty based on scenario analysis |
| Design measures for managing cyber risks (CIS controls) |
| Design measures for managing cyber risks (CIS controls) |
| Skills |
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| Utilizes managerial tools for risk management |
| Utilizes managerial tools for risk management |
| Calculates the level of uncertainty based on scenario analysis |
| Calculates the level of uncertainty based on scenario analysis |
| Proposes measures to mitigate risks about the organization's risk profile (risk map) |
| Proposes measures to mitigate risks about the organization's risk profile (risk map) |
| Evaluates the level of utilization of cyber risk tools at the current organization's level (CIS controls) |
| Evaluates the level of utilization of cyber risk tools at the current organization's level (CIS controls) |
| Develops solution alternatives based on identified causes and impacts |
| Develops solution alternatives based on identified causes and impacts |
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Recommended literature
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BERANOVÁ, M. Manažerské rozhodování v riziku a nejistotě. Zlín : FAME UTB Zlín. ISBN 978-80-7318-513-8.
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ČASTORÁL, Zdeněk. Management rizik v současných podmínkách. Praha, 2017. ISBN 978-80-7452-132-4.
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DOSTÁL, P., RAIS, K., SOJKA, Z. Pokročilé metody manažerského rozhodování. Praha : Grada, 2005. ISBN 80-247-1338-1.
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FOTR, J., DĚDINA, J., HRŮZOVÁ, H. Manažerské rozhodování. Praha: Ekopress,, 2003. ISBN 80-86119-69-6.
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Hopkin, Paul. Fundamentals of Risk Management : Understanding, evaluation and improving effective risk management. 2010. ISBN 978-0-7494-6539-1.
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LINDAUER, Roman. Modern risk management remarks. Prague: Oeconomica, nakladatelství VŠE, 2017. ISBN 978-80-245-2206-7.
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