Corporate Management 4.0 with Governance, Risk and Compliance

Course offered by: Prof. Dr. Josef Scherer
Offering University: TH Deggendorf
Course Language: English
Subject Area: Economic Sciences Free of Charge
Average Workload: 16 Hours Free of Charge Enrol

What awaits you in this course?

This course is based on the German course “Unternehmensführung 4.0 mit Governance, Risk und Compliance” and contains the most important topics / core topics of the German course.

Teaching and training in the area of "Governance, Risk and Compliance (GRC) and Corporate Management 4.0" should provide fundamental knowledge and skills regarding future practical requirements. However, a look at reality shows that this is still a long way off.

"GRC" or compliance in general are hardly ever taught, or if at all, only in a classically reactive and isolated manner. Neither the lectures nor the teaching material in the core topics of business administration and economics present the legal framework and requirements or risks and opportunities of the respective process flows. Humanities such as psychology, behavioral economics and sociology play no role in practice in these subject areas. Although, governance, risk and compliance are closely linked to these sciences to a not inconsiderable extent.

Frequently, it is also not known what GRC includes. After all, GRC also contains sound knowledge of entrepreneurial processes (process orientation) and risk management - how else can prophylactic action be possible?

Psychological and sociological topics as well as stochastics (e.g. for risk decisions and uncertain expectations) must be considered in "GRC" training / teaching (cf. Business Judgment Rule).

Thus, the topics of governance, risk and compliance are only barely treated and this despite the fact that the jurisdiction, such as that of the presiding judge of the 1st Criminal Senate of the Federal Supreme Court (Raum) from 2017, states that a (compliance) management system can have a mitigating effect on liability.

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What can you learn in this course?

The term “Industry 4.0” is omnipresent in the media and the working world itself is changing enormously due to the 4th Industrial Revolution.

The effects of the digital transformation and of "disruptive innovations" are not created by developing a new technology, but by companies strategically adapting to the digital world. Agile methods are being used in more and more companies. They rely on the speed and productivity of small cross-departmental teams that drive product and process innovations with great autonomy in close exchange with customers. This is how digital transformation can bring maximum value to businesses.

This course is designed to help you stay on track with these rapid developments and thus equip yourself for the ever-increasing demands on an “Integrated Management System” considering the principles of proper corporate management in the context of "Industry 4.0", digitization and globalization.

Outline

1) Introduction: “At a Glance and Overview”: The facts and the story

2) “Doing the right thing correctly“: The Prudent Businessman 4.0

3) Mitigating effects on liability and other value contributions of a digitized Integrated management system 4.0

4) Which management system(s) and how many standards for digitization and GRC does the manager need?

5) Terms that the “Prudent Businessman” and his employees need to know

6) What does digitization of business processes and enrichment with GRC methods and tools mean?

7) Company, environment, interested parties, risk and SWOT analyses: Everyone wants the same thing: No weakness in digitization and GRC

8) “Ready for takeoff”: The new tone from the top in the “Corporate Airship”

9) Governance: Interaction of corporate bodies, conscientious corporate governance and supervision

10) New goals in a new world

11) (Digitization) Vision / goals / strategy / planning

12) “Why does it often not work?”: Homo irrationalis versus fit & proper: Behavioral economics and business psychology

Course offered by

Since 1996, lawyer Prof. Dr. Josef Scherer is a professor for corporate law (compliance), risk and crisis management, restructuring and insolvency law at the Deggendorf Institute of Technology. Before that, he was working as a lawyer at several regional courts and as a judge at the regional court  in a civil chamber.

Since 2012, he is board leader of the directory of the International Institute for Governance, Management, Risk and Compliance with the Deggendorf Institute of Technology as a competence center.

The main emphasis of his work and research is on manager liability, governance-, risk- and compliance-management, Integrated human workflow management systems and digitization as well as contract-, product liability, restructuring and insolvency law, employment law and human resource management.

Further authors

Anna Lex finished her master degree studies of "International Economics and Business" at the university Passau in 2020.

Since September 2020, she is working at the „International Institute for Governance, Management, Risk & Compliance“.

Her occupation includes supporting the fields research and teaching, as well as the development and administration of several online courses of the Virtuelle Hochschule Bayern (vhb).

Target group

The course is basically for everybody interested, especially (but not only) for international (future) managers, executives and entrepreneurs, (future) department manager, lawyers, economists and consultants.

Confirmation of participation

When you have completed the course and passed the required tests, you can download a certificate of participation in PDF format in the last section of the course.

License

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