Risk management is viewed as a central component of the strategic management of successful organizations. It involves more than addressing risk exposures and plays a significant role in terms of maximizing the competitive advantage of organizations.
The increasing complexity of the higher education environment is forcing institutions to operate amidst a litany of challenges such as financial austerity, competition for students and faculty, and heightened external scrutiny. Risk management practices can ostensibly assist higher education institutions (HEIs) to achieve their missions and visions, improve their institutional standing, meet the challenges they face, and help them make more rational strategic decisions.
In a hotbed of risks, HEIs today should seek mechanisms by adapting…
