Risk Management in Private Higher Educational Institutions in Region IV-A (Calabarzon)
Keywords:
Risk Management, Private Higher Educational institutions, Region IV-A, CALABARZONAbstract
INTRODUCTION
Top management of universities and colleges talk about risk management in large, complex, decentralized organizations as a significant challenge. However, before risks can be effectively managed, the organization must agree on a common definition of risk that is clearly understood by the board, top management, faculty, staff, and students.
METHODS
The researcher used the descriptive method of research using a survey questionnaire as the main instrument of data-gathering. The researcher utilized the random sampling technique to determine the number of respondents from select private colleges and universities in Region IV-A. The researcher secured and asked permission from the President/Director of each college/university.
RESULTS
The respondents agreed on the risk management in private higher educational institutions in terms of strategic, financial, operational, compliance, reputational, property, market, and governance when grouped according to profile.
DISCUSSIONS
Higher education institutions should have fast-cycling risk identification.Higher education institutions should increase campus risk awareness: Beyond the threshold challenge of identifying and assessing risks, the widely voiced university executive goal of "getting faculty and academic administrators to own risk management" faces many philosophical and practical obstacles.