Risk Management in International Business

Teaching results

Students will possess following abilities:
- students shall be familiar with the issue of risk management in international trade, including risk analysis, monitoring, assessment, and mitigation; theoretically acquainted with risk management strategies and risk classification,
- they will analyse the issue of risk management in international trade against a background of a new institutional economic theory and against a background of transaction cost theory based on a new institutional economic theory,
- students will control the possibilities of implementing risk management as so-called governance structures or tools to secure specific transactions in practice according to a new institutional economic theory based on economic reality (imperfect information, opportunism, and specific assets),
- the international environment of the company is a source of risk, especially in the distribution of the theoretical, market, commercial and operational risks or specific risks; students gain theoretical knowledge of risk breakdown in international trade.
Students will obtain following skills:
- based on risk arising from the international environment, students acquire skills in risk awareness, analysis, monitoring, evaluation, and risk mitigation skills,
- students learn the need for prudential business and trading in relation to business partners,
- students will be able to carry out quantitative analysis, in particular cross-sectional data, as a useful tool for reducing imperfect information,
- students will learn the need to implement the principles of corporate governance, which, although largely on a voluntary basis in the form of principles, takes the form of an obligation based on a certain type of companies from the Act on Accounting; corporate governance principles are part of the ethical and marketing program in companies, including risk management.
Students will gain following competences:
- in accordance with the graduate profile, the ability to make independent and responsible decisions in a changing international environment,
- prudence in business,
- perception, anticipation, and reduction of risk,
- basic analytical competences,
- transparency in business,
- sustainability of the business,
- management of the crisis in international trade and business.