High-Stakes Strategies

From Financial Crises to Pandemics: Executive-level strategies to manage systemic risks for competitive advantage

2021 PROGRAM: Redesigned to fit a convenient 2-week live-online format It was March 2008 and the shares of Bear Stearns were in freefall. Without swift action, the investment would collapse.

Gathered at the Fed in Washington on a Sunday afternoon were Chairman Bernanke and the Fed Governors, including Randy Kroszner. They were about to make one of many consequential decisions to save Bear Stearns, a rescue that was a warning of the financial meltdown that was yet to come. Their choices were far from easy. In an unprecedented move, they invoked the Fed’s emergency powers in order to facilitate a takeover of Bear Stearns and create a program that would provide funding to other securities firms, expanding the ranks of organizations to which the Fed could lend directly.

Professor Kroszner, who served as a governor of the from 2006 to 2009, recalls the “heart-pounding” nature of the experience. “The Bear Stearns crisis was personally transformative. I couldn’t believe we were faced with these choices and that I would vote for them. We had to make real-time decisions about massive interventions.”

The stakes were high during the 2008-2009 financial crisis, and the stakes are high today. Like the financial crisis, the COVID-19 pandemic has revealed fragile interconnections in a number of systems, which have serious implications for businesses. Nevertheless, Kroszner says that companies can prepare for these risks. “I wanted to create a program that provides senior executives with this proactive risk and reward framework while also delivering a toolkit to help them communicate effectively to key stakeholders when their organization’s reputation is on the line.” The result is a highly interactive live-online program, High-Stakes Strategies, which gives senior leaders the tools to identify and anticipate a broad set of risks and the ability to break these risks down into factors they can control.

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When it is time to develop High-Stakes Strategies, senior leaders go to The University of Chicago Booth School of Business

he possibility of a global pandemic has been looming for decades, yet many leaders found their organizations T unprepared to respond to COVID-19. Although you can’t predict pandemics, it doesn’t mean your organization can’t prepare for them and other crises—and emerge from them even stronger than before.

To succeed in times of uncertainty, senior leaders need to make the right set of strategic risk and leadership choices to move thier organizaton ahead. In this collaborative live-online program, you’ll learn how to build a more resilient organization and develop strategies to protect your organization's future.

This program utilizes The Chicago Approach™ to business—a multi-discipline based approach to turn business challenges into opportunities. This approach helps you define problems, ask better questions, and develop solutions.

EXECUTIVE-LEVEL STRATEGIES TO MANAGE SYSTEMIC RISKS FOR COMPETITIVE ADVANTAGE to managing systemic risks for competitive gain. EXECUTIVE-LEVEL STRATEGIES TO MANAGE SYSTEMIC RISKS FOR COMPETITIVE ADVANTAGE to managing systemic risks for competitive gain.

High-Stakes Strategies Successful senior leaders are those who can proactively lead systemic risk strategies for their organization, scan the horizon for threats, and shine a light on new opportunities. They show effective, resilient leadership around their decisions and communicate clearly under pressure. At Chicago Booth, we help executives hone these skills and lead their organizations to new heights when the stakes are high.

OVERVIEW In this highly collaborative live-online program, participants will gain strategic risk and leadership skills to protect their organization from threats. Attendees will learn how to move beyond traditional risk-management approaches to uncover fragile interconnections, anticipate potential shock waves, and develop a proactive risk-and-reward management strategy for their organization.

By attending, you'll acquire the tools to identify and anticipate a broad set of risks—not only the risks in your direct control, but also those that result from external forces such as pandemics, supply-chain disruptions, financial crises, terrorism, and cybersecurity threats. This will help prepare you to make critical decisions, before a crisis strikes, to protect your organization.

What's more, you'll learn how to cultivate crisis communication strategies to help create resilient, high-performance organizations to weather difficult times, develop a strategic communication plan, guard against miscommunication, and avoid reputational damage.

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"There are no innocent bystanders when it comes to risk management. Just because you can’t predict a global pandemic doesn’t mean you can’t be prepared. A framework that breaks down macro vulnerabilities into risk factors you can control allows you proactively to manage the impact of events outside of your control."

RANDALL KROSZNER Deputy Dean for Executive Programs and Norman R. Bobins Professor of , Chicago Booth

UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS THE UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS 5 5 Executive-level strategies for when an organization's future is on the line.

WHO SHOULD ATTEND This program is designed for senior leaders who are responsible for making high-stakes decisions to protect their organization from potential threats and move their organization ahead during times of change.

Across an organization, leaders who seek to evaluate or create a strategic risk- management approach to safeguard their organization will also find this program beneficial, as well as those who play a role in managing their organization’s reputation to shareholders, customers, employees, and other key stakeholders.

Executives from a wide range of industries and organizations, including corporations, startups, and public-sector organizations, will find this program beneficial.

RECOMMENDED TITLES • Board Members • C-Suite Executives • President • Senior Vice Presidents • Entrepreneurs • Other Senior Titles

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WHY ATTEND? In times of economic uncertainty, organizations face challenges that are potentially devastating. With risks, fragilities, and threats magnified by the global COVID-19 pandemic, senior leaders are making some of the highest-stakes decisions of their carers. This program helps senior leaders steer their organization toward resilience by embedding strategic risk capabilities throughout the organization.

PROGRAM OBJECTIVES

Learn to scan the horizon for red flags Learn how to leverage and enhance in government and market conditions your organization's reputation as to better protect your organization from a tool in your crisis-management potentially disruptive events. planning.

Broaden your perspective to better Cultivate a resilient, high-performing understand your organization’s organization in times of uncertainty vulnerabilities and avoid being hurt as and change. an innocent bystander.

Gain the strategic mindset to capitalize Gain effective communication and on new opportunities that occur as a messaging frameworks that can be result of a crisis. applied to diverse audiences such as investors, customers, employees, and government officials when your organization's reputation is on the line.

UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS 7 The Curriculum

OVERVIEW In a convenient live-online format, you'll hone your ability to manage strategic risks and strengthen your skill to lead under pressure. Attendees will uncover risks and fragile interconnections that can threaten ways of doing business, discover the tools to build a resilient organization and gain the frameworks to communicate effectively in times of crisis.

Scan the Horizon: A Proactive Strategic Crisis Communication Strategies: Straight Risk-Management Approach to Decision-Making Talk in Tough Times

• Learn how to put your domain expertise in • Improve strategic communication to lead the context of broader risks that pose a threat effectively, guard against miscommunication, to your organization and the economy more and avoid reputational damage. generally. • Gain the communication tools to tell bad • Uncover fragile interconnections to news, defuse negativity, tackle tough understand systemic risks that can emerge questions and unspeakable subjects, and from events such as pandemics, policy make bold statements of change. changes, financial crises, and supply-chain disruptions. • Acquire frameworks to formulate effective messages for different audiences and • Discover how to step outside your stakeholders. organization in order to understand your vulnerabilities and avoid being hurt as an innocent bystander.

• Gain the strategic mindset to capitalize on new opportunities that occur as a result of a crisis.

• Examine unintended consequences and global spillovers of policy responses to crises and macro volatility.

• Apply a risk-and-reward framework— "Urgency, Mission, Agility, and Persistence"— to encourage innovation, manage disruption, and “UMAP” your future.

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Learn From GLOBALRenowned LEADERSHIP INSTITUTE Faculty PROGRAM

Chicago Booth professor Randall S. Kroszner will share his expertise and experience as governor of the Federal Reserve System during the 2008–2009 financial crisis and as a member of the President’s Council of Economic Advisers from 2001–2003 where he dealt with the shock of 9/11, Latin American debt and currency crises, and corporate governance scandals.

Kroszner is currently the chair of the Financial Research Advisory Committee of the Office of Financial Research of the U.S. Treasury, an entity that provides financial stability and “shines a light in the dark corners of the financial system” to analyze, assess, and predict risk as well as to provide policymakers with risk-mitigation tools.

What's more, you'll learn from Susan Lucia Annunzio, president and CEO of the Center for High Performance, where she acts as a strategic advisor to CEOs of leading global companies on strategy attainment, business transformation, and as a thought leader on shaping and maintaining high-performance business environments. By working directly with board of directors, senior teams, and business units, Annunzio has a proven track record of enhancing collaboration, communication, and creativity during challenging times of change and business transformation.

Randall S. Kroszner Susan Lucia Annunzio Deputy Dean for Executive Programs President and CEO, The Center for and Norman R. Bobins Professor of High Performance (CfHP) Economics, Chicago Booth • Globally recognized speaker and • Former governor of the Federal thought leader on shaping and Reserve System and former member maintaining high-performance of the President’s Council of business environments Economic Advisers • Author of prominent books including • Chair of the Financial Research Contagious Success voted Fast Advisory Committee of the Office of Company’s Reader’s Choice in Financial Research, U.S. Treasury January 2005 • Frequent commentator in the international media and advisor to • Quoted extensively in various financial institutions, government business press including the Wall organizations, and central Street Journal, CNBC, BBC, USA throughout the world Today, and Bloomberg

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Our Approach to Live-Online Learning

Our live-online programs are delivered in a Chicago Booth Certificate synchronous format where you'll learn from This program awards a Chicago Booth certificate of faculty, industry leaders, and peers in an completion at the end of the program. interactive, high-impact virtual environment. These programs blend live sessions with activities, projects, and readings to deepen your Digital Credential understanding of the materials. The benefit This program awards a Chicago Booth High-Stakes of this format is that you'll receive Booth's Strategies digital badge upon completion of the rigorous content, in short, digestible sessions program. This badge serves as an Online credential held multiple times each week. This format of your accomplishment and recognition of your also allows you to reflect and apply program achievement. Badges can be shared among social concepts in-between sessions. These high- networks such as LinkedIn. impact programs provide the Booth approach in a convenient schedule for global executives. The Booth Community Stay connected with each other and Chicago Fireside Chat Booth after the program ends. Certificate holders Learn first hand from a renowned guest will receive a complimentary subscription to the speaker who will share personal experiences of Chicago Booth Review —the official publication managing strategic challenges and risks. of the business school and access to Executive Education private social media groups.

Live-Online Networking Forum This program includes several live-virtual networking sessions where participants will have an opportunity to introduce themselves to the cohort and share their work experience. Booth team members will host these forums and will help continue discussions onto the online discussion boards.

THE UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS 10 The Schedule Program Details

Week One Session 1 (Monday) DATES 9 am– 12:00 pm CT April 12 - 21, 2021 Evaluating Vulnerabilities –Breaking Down Program dates: April 12, 14, 19, 21* Internal and External Risks into Factors You Can Control Monday and Wednesday Faculty: Randy Kroszner 9am–12 pm CT / 3 pm–6 pm BST

12-12:30 pm CT September 20 - 29, 2021 Program dates: Sept. 20, 22, 27, 29* Small Group networking Opportunity (optional) Monday and Wednesday 9am–12 pm CT / 3 pm–6 pm BST Session 2 (Wednesday) *Session 4 (April 21 and September 29) 9 am– 12:00 pm CT A Proactive Risk and Reward Framework from 9–10:30 am CT / 3 pm–4:30 pm BST for Decisions that will Make or Break Your Organization Live-Online sessions are held on Faculty: Randy Kroszner Mondays and Wednesdays from 9–12 p.m. US Central Time. These sessions are recorded, however we strongly encourage

Week Two live participation.

Session 3 (Monday)

9 am– 12:00 pm CT Crisis Communication Strategies and Straight FEE: $3,500 Talk in Tough Times Faculty: Lucia Annunzio PROGRAM FORMAT 12-12:30 pm CT Live-Online with Weekly Live Small Group Networking Opportunity (optional) Sessions, and Offline Self-Study Assignments Session 4 (Wednesday)* 9 am– 10:30 am CT Fireside Chat Guest Speaker, Program Wrap-Up Faculty: Randy Kroszner

UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS 11 LEARN MORE ABOUT EXECUTIVE EDUCATION AT THE UNIVERSITY OF CHICAGO BOOTH SCHOOL OF BUSINESS ChicagoBooth.edu/ExecEd

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