Relationship between risk management practices and organizational performance of Universities in Kenya

Abstract

Risk management is a key factor which determines the level of progress of organizations. Thus proper mechanism and system of risk control should be put in place to establish, prevent and mitigate the risks encountered in operations of the organizations. An efficient risk management practices in risks could greatly reduce the costs of maintaining operations in organizations. This study was motivated by the need to establish the relationship between risk management practices and student enrollment in Universities. To achieve this objective, the study adopted a descriptive research design. The data was collectedusing a semi-structured questionnaire from the staff members of various universities working in the departments of finance, administration and security. The data was coded and entered into a computer for analysis. The data was analyzed using descriptive and inferential statistics The data was analyzed using both descriptive statistics such as mean and standard deviation and inferential statistics particularly multiple regression. The findings were presented using pie charts, tables and figures. The study found that use of highly qualified staff, competent personnel, training and holding of seminars on risks management and advancement of management systems greatly contributed to increased performance on student enrollment. The study recommended than Universities and other institutions invest on risk management practices to counter the effects of operational risks.