Management education today is about the broader picture of running an organisation, not just financials, and it takes a holistic look at risk. This is the comment of one of Europe’s leading business educators, Eric Cornuel. Eric is the CEO of the European Foundation of Management Development, an organisation that accredits business schools, and so a very appropriate person to participate in the FERMA Forum panel on the role of education in developing tomorrow’s risk leaders.
Eric will be talking about the advantages and disadvantages for risk managers of some of the many forms that business education is taking today. Academic institutions remain a source of high quality, if expensive, business education, but theirs is not the only approach. There are various routes for today’s risk leaders to gain knowledge, from massive open online courses (MOOCS) to professional programmes, like FERMA’s rimap®. “Going to a top class business school is a way of limiting the risk of not getting what you want from the programme,” says Cornuel, “but these newer learning methods are good.”
He adds that validation of acquired learning is important in terms of content and format. A number of institutions are providing accreditation, and there is also a market element as employers come to recognize the value of the education that a particular qualification represents.
Cornuel recommends a different approach when it comes to emerging risks from technology, such as artificial intelligence. “Here I think we are in the domain of philosophy and ethics, and we should have discussion panels not just of technical experts but philosophers and historians. If we want to be aware of future risks, we need to be reflective.”
Fellow panel member Alessandro De Felice, President of the Italian risk management association, ANRA, adds, “Training risk professionals plays a key role when innovation leads to new risks and critical situations that did not exist a few decades ago. The growing use of the Internet of Things in industrial systems, the rising demand for cloud platforms and big data analysis are key factors that characterize the new structure of Industry 4.0.”
The role of education in developing tomorrow’s risk leaders, Tuesday 17 October, 11.30-12.30
For more information on the panel, please click here