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Law, Governance and Enterprise Risk Management

This subject is available as a postgraduate-level MBA subject offered by the International College of Management, Sydney (ICMS). Please click the button below to find a postgraduate course suitable for you.


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Credit Points:

4 credit points

Subject Rationale:

Law is a fundamental part of business and there is a need for leaders to have a broad understanding of legal regulations and obligations governing the business environment their organisation operates in. Business leaders should be able to anticipate the legal needs of their institution and comprehend how laws and regulations can impact the business in both positive and negative ways. Leaders involved in large corporations need to understand their duties as directors, and what ethical and corporate governance considerations there are. Moreover, effective risk management is crucial in protecting the business and ensuring the sustainable future of an organisation.

The aim of this subject is to provide students with an understanding of corporate governance, the Australian regulatory framework, and the ethical and legal principles which affect the work of corporate leaders. This includes the roles and responsibilities of company directors and the way in which legal and ethical frameworks govern the actions of public, private and non-profit organisations.

The subject also examines enterprise risk management and the process of identifying and addressing potential events that represent risks to the achievement of the organisational strategic objectives. Students will learn how to integrate the risk management framework into the strategic decision-making within an organisation.

Learning Outcomes:

a) Apply integrated knowledge and understanding of the Australian regulatory framework, legal and ethical principles, incorporating enterprise risk management and corporate governance.

b) Succinctly communicate legal responsibilities and associated risks for executive level decision making.

c) Evaluate the legal, social and ethical responsibilities of public, private and non-profit organisations when dealing with diverse stakeholders.

d) Justify the role and impact of corporate governance within an organisation and in enterprise risk management context.

e) Argue how and why risk management needs to be integrated into business decision-making and strategic planning.

Assessment Information:

Learning outcomes for this subject are assessed using a range of assessment tasks as described in the table below.