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A Risk Management Approach for the Internationalization of Higher Education

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  • Bradley Beecher

    (The George Washington University)

  • Bernhard Streitwieser

    (The George Washington University)

Abstract

This paper analyzes how higher education institutions can utilize a framework for assessing the risks associated with international expansion initiatives. It makes an argument for why borrowing risk assessment frameworks from other disciplines can also be beneficial to higher education institutions. The riskiest form of internationalization—establishing an international branch campus—is used as a benchmark for assessing risks. A risk management framework developed for managing risks associated with global megaprojects is used to analyze key decision points senior leaders at higher education institutions may want to consider when deciding to expend scarce institutional resources to pursue an international higher education project. This paper finds that risks management models borrowed from the business discipline are adaptable for a higher education context. With few risk management models available to assess the risks associated with internationalization opportunities, the authors argue that more research is needed on the topic of risk so that senior leaders can make well-informed decisions about taking on riskier international education opportunities.

Suggested Citation

  • Bradley Beecher & Bernhard Streitwieser, 2019. "A Risk Management Approach for the Internationalization of Higher Education," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(4), pages 1404-1426, December.
    • Handle: RePEc:spr:jknowl:v:10:y:2019:i:4:d:10.1007_s13132-017-0468-y
    DOI: 10.1007/s13132-017-0468-y
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    References listed on IDEAS

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    1. Philip G. Altbach & Jamil Salmi, 2011. "The Road to Academic Excellence : The Making of World-Class Research Universities [El camino hacia la excelencia académica : la constitución de universidades de investigación de rango mundial]," World Bank Publications - Books, The World Bank Group, number 2357.
    2. Ben Wildavsky, 2012. "The Great Brain Race: How Global Universities Are Reshaping the World: With a new preface by the author," Economics Books, Princeton University Press, edition 1, number 9694.
    3. Jamil Salmi, 2009. "The Challenge of Establishing World-Class Universities," World Bank Publications - Books, The World Bank Group, number 2600.
    4. David J. Weerts & Justin M. Ronca, 2006. "Examining Differences in State Support for Higher Education: A Comparative Study of State Appropriations for Research I Universities," The Journal of Higher Education, Taylor & Francis Journals, vol. 77(6), pages 935-967, November.
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    Cited by:

    1. Jing Lu & Guohua Cao & Chuan Lin & Stavros Sindakis & Saloome Showkat, 2024. "Corporate Site Visits and Stock Price Crash Risk: The Role of Institutional Investors’ Knowledge Acquisitions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 9082-9114, June.
    2. Zhao Li & Yujing Chu, 2023. "Is Hierarchical Education Investment Synergistic? Evidence from China’s Investment in General and Advanced Education," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1522-1537, June.

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