Risk-Taking in Times of Uncertainty
Higher education is not known as an industry that takes risks. We operate in an environment where the largest costs – human capital – are largely fixed, we have limited ability to control price, and we have so many constituencies – students, faculty, staff, public, policymakers, donors, fans, alumni – that they are too numerous to list all of them. COVID-19 has added another twist to higher education and institutions are grappling with bottom-lines and projections that might further stress and complicate how to successfully move forward.However, now more than ever, it’s time to remember what is at the core purpose of our efforts. Even in tough times it’s crucial to take risks that put students, staff, and community first. We know this is easier said than done. To help get you thinking about how to better adopt these principles, join this webinar to explore strategies for taking appropriate and managed risks in higher education.
Dr. Eric Monday, Executive Vice President for Finance & Administration, at the University of Kentucky