Risk Management and Internationalization in Education Institutions

Introduction

Risk Management is a scientific approach that explains the matter of using the management approach in a specific situation or what the institution could do when facing possible risks. Risk management emerging from the insurance management is to determine the risks in facing any situation, to create options for those risks and to inspect the application process of the most proper option to the situation. Risk Management is applied by taking rapid actions upon fast decision making, and by developing a plan for strategies for resolution, assessment and control within the framework of risks (Dayan, 2006). Behaviors of the related institutions appear as the primary factor that influences both the nation itself and overseas. Decisions in providing resources for overseas activities is based on the experiential power of the company, and they pay attention to what alternatives are developed and how they are selected. This is an indicator stating that economies of the world depend on each other now. Higher education tends to be disrupted disproportionately by the government budget determinants. Even though the states and educational conditions are facing hard time, it is believed that everything will recover when risk determinants are used correctly (Knight, 2006).

Uppsala model has been placed in the frame of analytic formula which is handled on the risk factor basis as a mechanism that nationalizes the international problems and their solutions, making decision and determining risks. Risk management under educational process is a training unit which is prescribed with regard to how to prevent an argument that may arise among stakeholders. In a general sense, risk management which detects the risks of the organization is embraced as an academic attitude regarding what conditions should be protected or realized. Besides, it is a system which takes precautions for the problems, reduces problems and contains plans. In this context, previously developed risk management, namely the notification of strategy becomes effective in revealing the factors that will endanger the institutions in terms of the related vision, mission and values in order to boost the success and target regarding education management (Derici, Tüysüz & Sarı, 2008).

In literature science, the risk management characterizing the risks to which the institution would be subject as an academic attitude regarding in which conditions to protect or realizing the meaning of administration or management in a particular field, in fact, it has been brought forth from the insurance management and it is the inspection of the procedure by determining the risks in a possible individual case on condition that the alternatives are put into practise for handling the risks (Aras, 2007).

It is an inspection that helps to fix the negative factors which can form instability and uncertainty in risk management. It is a preliminary factor that has a retention capacity before problems emerge. It is a system that includes the plans that take precautions and minimize the damage by identifying the risks before problems emerge and create danger (Güzel, 2007). It can be seen that there are many internationalizations of higher education put forth by Jane Knight and Stephen Wilkins. Among them there are exchange programs, online programs that are marketed globally, matching agreements, joint evaluation programs, opening work centers and installation of in-branch campus areas (Knight, 2006; Wilkins, 2011). Each of these internationalization activities states the potential of generating income for a new institution. However, physical welfare of a faculty and personnel provides ways in stratifying of risk levels related to international operations in respect of the brand and reputation of an institution in each profit gaining. The risks for academic quality and institutional resources as well as academic activities provide institutions with many options in order that they could better adapt to their mission and culture. Thus, they can be associated through the factors that may be used to understand whether there is coherence with risk scale, which may be expected from the application of professional activities in relation to risk and nationalization at higher education (Beecher & Streitwieser, 2017).