Exploring risk management knowledge among MBA students at Centria University of Applied Sciences
Sinhala Pedige, Sanduni (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024060420885
https://urn.fi/URN:NBN:fi:amk-2024060420885
Tiivistelmä
Understanding of managing risk is a crucial part of the business. This leads to better decision-making and safeguards organizational values when conducting business and acting as employees locally and globally. New challenges that have not been encountered before can be opened during the daily tasks and new implementations. Therefore, a coherent and spacious understanding of how to manage risk is required by companies and their employees.
This thesis focuses on an assessment of the adoption of risk management frameworks by publicly listed companies in the Kokkola region to assess the practicability of the subject. Furthermore, a sub-sequent measurement of the understanding of risk management among students in the same region who will be a part of the company's workforce in the future or start their own business.
The theoretical framework comprises an explanation of the research objectives, a briefing about basic concepts, an explanation of the research methods, data collection techniques, and data analysis meth-ods.
The purpose of this thesis is to assess the level of understanding regards risk management which in-cludes, risk identification, prioritization, prevention and mitigation, commonly used risk management framework, and tools among the students that become a part of the future workforce.
According to the findings of the study, the students possess a basic understanding of risk manage-ment, particularly regarding the concept of risk and its significance for organizations. However, there were certain gaps in their knowledge when it came to applying the optimal risk management strategies. Additionally. participants had a lack of familiarity with the frameworks and risk management tools used in the commercial sector. Further, no connection was found between the knowledge of the par-ticipant regarding risk management and their educational background, country of origin, current de-gree program (full-time or part-time), or working experience.
Risk management is widely practiced across various companies, especially publicly listed companies. Therefore, gaining a comprehensive understanding of risk management frameworks and tools would greatly benefit students to add value to the economy as the future workforce.
This thesis focuses on an assessment of the adoption of risk management frameworks by publicly listed companies in the Kokkola region to assess the practicability of the subject. Furthermore, a sub-sequent measurement of the understanding of risk management among students in the same region who will be a part of the company's workforce in the future or start their own business.
The theoretical framework comprises an explanation of the research objectives, a briefing about basic concepts, an explanation of the research methods, data collection techniques, and data analysis meth-ods.
The purpose of this thesis is to assess the level of understanding regards risk management which in-cludes, risk identification, prioritization, prevention and mitigation, commonly used risk management framework, and tools among the students that become a part of the future workforce.
According to the findings of the study, the students possess a basic understanding of risk manage-ment, particularly regarding the concept of risk and its significance for organizations. However, there were certain gaps in their knowledge when it came to applying the optimal risk management strategies. Additionally. participants had a lack of familiarity with the frameworks and risk management tools used in the commercial sector. Further, no connection was found between the knowledge of the par-ticipant regarding risk management and their educational background, country of origin, current de-gree program (full-time or part-time), or working experience.
Risk management is widely practiced across various companies, especially publicly listed companies. Therefore, gaining a comprehensive understanding of risk management frameworks and tools would greatly benefit students to add value to the economy as the future workforce.