Advanced Certificate in Business Management in Risk Management
Business, Commerce and Management Studies - Generic Management
Purpose and Rationale
Advanced Certificate in Risk Management
Purpose:
The purpose of the Advanced Certificate in Risk Management is to equip learners with intermediate business management theories and risk management competencies. This qualification aims to supplement practical experience in the workplace, enabling individuals to act in a supervisory and managerial capacity.
Rationale:
The institution's customization of short learning programs to industry needs is a standout feature. These career-oriented learning qualifications are designed to provide just-in-time and just-enough learning to meet industry requirements. The focus on career-oriented qualifications allows for access to learning in a cost-effective, time-efficient, and resource-friendly manner for both employers and employees. Specifically targeting adult learners, these short learning programs aim to upgrade skills and knowledge within a workplace context while adhering to the institution's quality assurance processes.
Outcomes
- Analyse an organisation, identify their strategic objectives and recommend a strategy to achieve these objectives.
- Explain basic economic principles.
- Relate change management principles and theories to effect change within the organisation.
- Apply international management principles in establishing and manage a global business mind set within international organisations.
- Use management accounting principles to develop an operational budget and controlling the budget.
- Use analytical techniques to interpret and solve basic business data.
- Apply internationally accepted risk assessment techniques to identify and analyse organisational risk.
- Illustrate the application of risk management tools in managing risk in the organisation.
- Use limited variance models to finance risk in an organisation.
- Apply basic business continuity management principles to develop a business continuity plan.
Assessment Criteria
Organisational Analysis:
The organisation under analysis is a multinational corporation operating in the technology sector. The company's goal is to become a market leader in the development and distribution of innovative technology products worldwide.
Recommendation Strategy:
To achieve the organisational goals, the company should focus on the following strategies:
-
Market Expansion: The company should focus on expanding its market reach by entering new international markets. This can be achieved through strategic partnerships and alliances with local companies in target markets.
-
Product Innovation: Continuous innovation is key to staying competitive in the technology sector. The company should invest in research and development to bring new and cutting-edge products to the market.
-
Cost Management: Implementing cost-effective measures in operations and production can help improve profitability. This can include optimizing supply chain management and reducing unnecessary expenses.
Basic Economic Principles:
Understanding economic principles such as supply and demand, opportunity cost, and economies of scale is essential for making informed business decisions. For example, analysing the demand for the company's products in different markets can help in pricing strategies and market expansion plans.
Change Management Principles:
Utilizing change management theories like Kotter's 8-step model can help in effectively implementing changes within the organisation. Communicating the need for change, involving employees in the process, and providing support and training are key components of successful change management.
International Management Principles:
Establishing a global business mindset involves understanding cultural differences, adapting to local business practices, and managing international teams effectively. Implementing international management principles can help in navigating the challenges of operating in diverse global markets.
Management Accounting Principles:
Developing an operational budget involves forecasting expenses, setting financial targets, and monitoring performance against budgeted figures. Utilizing management accounting principles like variance analysis can help in identifying areas of improvement and controlling costs effectively.
Risk Management:
Identifying and analysing organisational risks is crucial for mitigating potential threats to the business. Utilizing internationally accepted risk assessment techniques and risk management tools can help in proactively managing risks and ensuring the organisation's sustainability.
Business Continuity Management:
Developing a business continuity plan is essential for ensuring operations can continue in the event of disruptions or disasters. Applying basic business continuity management principles can help in assessing risks, developing contingency plans, and ensuring business resilience.
In conclusion, by implementing the recommended strategies, understanding basic economic principles, applying change management theories, international management principles, management accounting principles, risk management techniques, and business continuity management principles, the organisation can work towards achieving its goals and maintaining a competitive edge in the global market.
Qualification Details
- Type
- Advanced Certificate
- NQF Level
- 06
- Min. Credits
- 120
- SAQA Source
- More Information
Education Cost Calculator
This page includes information from the South African Qualifications Authority (SAQA) . Builtneat Pty Ltd trading as Study Start, has modified all or some of this information. SAQA has not approved, endorsed, or tested these modifications.