Business Typology for Examining the Risk Management Strategy in Relation to the Activities of Higher Education Institutions in the Sultanate of Oman

Abstract

This work proposed a business administration strategy for risk management in the activities of universities. Comprising description of actions from recognizing real and potential risks. Data set have been collected and configured to analyze and process several university unites based on a set of criteria that have been developed and tested. The application of the proposed solution will enable the HEI for forecasting and quantitative measurement of risks related to university activities. Aimed at preventing the occurrence of education risks through a clear description of procedures and mechanisms of risk management. The developed university criteria’s could be used as a standard for institutions to evaluate their risk management system. The proposed approach could improve risk management in education institutions by 24%. The real-world innovation of this work involves theoretical and methodological development of conceptual requirements for improving the management processes at universities, based on the application of risk management methods.