Vol. 1(2) SEP 2011 - SAVAP International

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Academic Research International ISSN: 2223-9553 Volume 1, Issue 2, September 2011 percept about risk management and easing up action along with incidental happenings. It was found that correlation between risk management and contingency mitigation actions is quite significant rejecting null hypothesis at 0.01 level of significance as shown in the table 5 Table 5. Showing correlation between Risk management and mitigation contingency activities Risk management Mitigation Contingency Risk management Pearson Correlation 1 .808(**) Sig. (2-tailed) . .000 N 587 587 Mitigation Pearson Correlation Contingency .808(**) 1 Sig. (2-tailed) .000 . N 587 587 Review is a regular activity in the change process and it becomes of more importance when coping with the risk or risky situation. Good administrators always remain watchful to the evident risks or in emergency and constantly review their strategies to achieve their desired goals. Review activities are equally important to achieve short term goals, long term objectives or an abstract aim. According to the stakeholders responses null hypothesis has been rejected and it proved to be significant at 0.01 level of significance on Pearson correlation, Kendall’s tau_b and Spearman’s rho (please refer to table 10) Management is considered to be the sole responsible to keep the record intact especially with reference to risk management, abreast not only itself but also the other stakeholders and to use it for future assistance and references and to remain connected and responsive to the past. Consistent and reliable record of risk management helps the administration in this ever changing state of affairs in the educational institutions, and comprehensively tells about what happened in the past near or far. Keeping record is always positive in order to plan better for the present and future in the light of the past experiences and in raising positive and feasible and practical strategies. The responses show close association between risk management and record activities and have a strong correlation at 0.01 level of significance as can be seen in table 6 Table 6. Showing correlation between Risk management activities and record Risk management record Risk management Pearson Correlation 1 .761(**) Sig. (2-tailed) . .000 N 587 587 record Pearson Correlation .761(**) 1 Sig. (2-tailed) .000 . N 587 587 CONCLUSION It is concluded from the above discussion that though the administrator claim to be well versant with risk and risk management activities like judicious use of financial resources, that they have a strong belief in crises management and remain involved in giving proper directions to the team through well defined processes on daily basis to control the risk before it materializes in the institution but the parents and teachers did not favour them to a large extent. It means that the administrators, who are the sole responsible for the change activities must work upon risk management keys like keeping closer liaison with their team, proper planning, taking mitigation and contingency actions, reviewing the achievements, goals and ongoing activities on regular basis Copyright © 2011 SAVAP International www.savap.org.pk www.journals.savap.org.pk 266
Academic Research International ISSN: 2223-9553 Volume 1, Issue 2, September 2011 and keeping a detailed record of happenings in the institution to merge the new ideas with positive note for all the stakeholders. End Note A famous proverb, “look before you leap and think before you speak” was probably written with the mind to “Manage the risk before it materializes” as those who thought well, processed and planned well, developed the ideas properly, looked for the pros and cones from all sides, discussed them with mindful people and acted accordingly had always registered their names in the history. REFERENCES Adams, J. 1995. Risk London: UCL Press. Attwood, R. and Gill J. (2008). Student numbers are at risk as UK demographics shift. Times Higher Education Supplement. [Viewed June 17 2008]. Blomkvist, A. (1987). Psychological aspects of values and risks. In L Sjöberg (Ed) Risk and Society, Allen & Unwin: London. Bok, D. (2003). Universities in the marketplace: The commercialization of higher education. Princeton, NJ: Princeton University Press. Cary, J. Webb, T. & Barr, N. 2002. Understanding landholder capacity to change to sustainable practices. Bureau of Rural Sciences: Commonwealth of Australia. Chen, C. P. (2003). Integrating perspectives in career development theory and development. Career Development Quarterly, 51, 203-216 Curran, M. W. (1988). Range Estimating: Reasoning With Risk, Paper N-3, AACE Transactions, AACE International, Morgantown, WV, USA. Curran, M. W., ed. (1998). AACE International’s Professional Practice Guide to Risk, 3 vols., AACE International, Morgantown, WV, USA. Dalgleish, D.L. & White, B. 1999-2001. CVAP Project M5 – Seasonal climate information and farmers’ risk assessment and decision-making. Land & Water Australia: Canberra. De Beauvoir, S., 1953. The Second Sex. Translated and edited by H.M. Parshley. London: Jonathan Cape. Doz, Y.L., Santos, J. & Williamson, P. (2001) From global to metanational: how companies win in the knowledge economy. Boston, Harvard Business School Press. Edward G. Rozycki, (2003) "Religion, Intelligent Design and the Public Schools: serving God to Mammon" http://www.newfoundations.com/EGR/Religion.html Egneus, H., Bruckmeier, K and Polk, M. (2000) “The Nature of interdisciplinarity”. Papport til Temanämsden, Institutionen för Tvärtenskapliga studier. Göteborgs Universitet. Finucane, M. 2000. Improving quarantine risk communication: Understanding public risk perceptions. Report # 00-7, Decision Research: Eugene, Oregon. Garvin, T. 2001. Analytical paradigms: the epistemological distances between scientists, policy Makers, and the public. Risk Analysis 21(3): 443-455. Genderwatch: …still watching. Stoke-On-Trent: Trentham, pp. 82-84. Ghadim, A.A. & Pannell, D.J. 2003. Risk attitudes and risk perceptions of crop producers in Western Australia. Pp 113 – 133 in B.A. Babcock, R.W. Fraser, & J.N. Lekakis (eds) Risk Management and the Environment: Agriculture in Perspective. Kluwer Press: Dordecht. Copyright © 2011 SAVAP International www.savap.org.pk www.journals.savap.org.pk 267
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