The study was conducted to determine risks surrounding global educational and professional activities and develop strategies that can be used to manage them. The study adopted both the quantitative and qualitative approaches in gathering information from the participants. The questionnaires consisted of two parts. The first part was aimed at collecting qualitative data on risk culture, risk recognition, risk organization, and risk governance, while the second part was aimed at collecting quantitative data, explicitly based on the assessment of GEDC’s exposure to a portfolio of potential risks. The information gathered was compiled and presented on tables for a straightforward interpretation of the finds and conclusion.
Findings Approach and the Methodology
Based on the results from the participants, most participants rated the overall AC’s risk management culture at 3.3, risk recognition at 3.7, risk administration at 3.3 and risk governance at 3.3, all based on a rating of 5. These figures show that the majority were able to recognize the risks as compared to maintaining a risk culture, organizing the risks or governance.
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The results reflect on different risks, their likelihood of occurrence, the expected impact on achieving strategic objectives as well as the expected control of the risk. Human resource has the lowest expected result, as compared to strategic risks which have the highest impact. Regulatory and legal risks, financial as well as innovation have a relatively average impact on strategic objectives. Credit and product risks, operational risks and reputation risks are among the most likely to have a higher effect on the strategic objective. Also according to data, information and security risks though have a low impact on strategic objectives; they have the highest probability of occurrence. In terms of controlling, geopolitical risks, credit and product risks, regulation risks and financial risks are the least controllable in that order, while strategic and innovations are the easily manageable risks.
Limitations of the Analysis
This analysis was limited to the design and methodology which only allowed for individuals’ data to be collected without any backing evidence, therefore controlling for quality is not applicable.
Suggestions for Improvements
A more elaborate design and methodology should be used in the future to allow for the collection of data that gives an accurate representation of the situation
