20 May 2021 Volume :9 Issue :16

Risk Management in a Time of Crisis

Risk Management in a Time of Crisis
Businesses have had to adapt to survive COVID-19.

If COVID-19 has taught us anything, it is that there are some risks that businesses can not completely plan for.

While a number of tools exist to identify the different kinds of business risks, “pandemic risk” is not a common feature. The COVID-19 pandemic has had disastrous effects on many businesses that have had to implement a number of cost reduction measures to survive. Unfortunately, some have not had the means to endure the grueling lockdown restrictions.

UKZN Extended Learning (UEL) recently reviewed its Supply Chain Management programme and redeveloped it to cover this increasingly important area. The focus has been shifted to business risk within the supply chain from a global perspective. It may be difficult to predict the precise risks that could affect businesses but there are procedures that if put in place and effectively managed, could minimise the outcome of risks that may occur.

The Global Supply Chain Management Programme will enable participants to identify potential business disruptions that could affect their organisation and to better understand its vulnerabilities. Participants will also gain risk management expertise in resilience planning, prevention, crisis management and recovery. They will be able to implement effective communication and messaging frameworks when their organisation’s reputation is on the line; and develop expertise in cultivating a resilient, high-performing organisation in times of crisis. On returning to their organisations, they will be able to carry out a detailed company risk assessment and develop mitigation plans to efficiently manage potential risks.

The programme has also been adjusted to fit within the busy schedules of today’s leaders. Instead of three consecutive full-day sessions, it will be presented over six weeks and will consist of three hours live online facilitation per week. The content will build up across the weeks and will also allow time for further understanding. Additional resources will be made available on a Learner Management System that can be accessed by registered students throughout the programme. These resources include additional pre-recorded sessions, readings, case studies and current research materials.

The programme will not only benefit supply chain management specialists but leaders in any industry responsible for decisions impacting their organisations. It includes assignments that will be graded, promoting understanding and the ability to apply learning in real-life case studies.

For the May intake, organisations can also take advantage of UEL’s mid-year sales promotion. Please click here for more details.

For more information on the programme, click here or contact Faith Ndlovu on email: Ndlovuz1@ukzn.ac.za or telephone: +27 31 260 1234.

Words: Sarah Haffenden

Photograph: Supplied

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