Executing Strategic Risks Mitigation Plan Amidst VUCA Situation: A Lesson from COVID-19

نویسندگان

چکیده

This study focuses on how higher education institutions, or HEIs, may respond to future strategic risks of an unprecedented magnitude. As the business world grapples with impact pandemic corporate strategies, so are HEIs. The management tends be viewed as ‘managing risk strategically’ and thus, they often overlooked despite being found far more consequential than other traditional risks. Therefore, incorporating tactics manage VUCA, which refers volatility, uncertainty, complexity ambiguity is timely necessary in new norm. findings reveal that seven basic steps required developing a mitigation plan (SRMP) namely: identify risks, determine triggers, describe (and where it likely strike), develop plan, discuss concerns, perform analysis create map scorecard. experience shows these can narrowed into four broad categories identification, analysis, assessment taking appropriate corrective actions. also recommends rigorous factors related basis strategies amidst challenging VUCA situations such Covid-19.

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ژورنال

عنوان ژورنال: Asia proceedings of social sciences

سال: 2021

ISSN: ['2663-662X', '2663-6638']

DOI: https://doi.org/10.31580/apss.v8i1.1955