In: Accounting
Assess and investigate the potential impact of the risk factors
you’re your organisation faces
The coronavirus epidemic has changed the way organisations are
working.
Your task is to assess the impact of the epidemic on your university.
a) Explain how the analysis helps to identify risk for
your university??
1. The coronovirus risk is something which will be there with you till a cure or vaccination is being found but that would take some time as all of the cures or vaccination are under the testing process but in the meantime the buisness or economy cannot be stopped or put on hold becasue life needs to move and so does the economy
2. The major issue impact for the universities during this epidemic time is admission of the students as the virus is so contagious it would be very difficult that students would come and attend the lectures/classes which would impact the major revenue of the company ...........Will need to analyse what is the alternate method for the same ... if there are students who all are staying in campus then testing for all of them can be done to ensure that there are no positive cases and then restrict them not to go outside the campus nor any entry would be allowed insdie ... even the teachers would need to stay in the campus itself ... This will ensure the studies are not impacted and the risk of the epidemic spreading is also reduced But if staying in campus is not possible then the online classes needs to be done it needs to be ensured that students as well as teachers are well acquainted with it and also it needs to be ensured that all students attend the online classes and all teachers complete the syllabus via online methodology and the same can be ensured by some credit rating on presence or on some assignments given to students while for teachers it can be asssured to be implement this in their appraisals
3. As the admission process has begun there would be lot of enquiries coming across but as the office is closed the response time to the applicant would increase resulting in the applicant choosing some other university ...... The staff can be assigned a dedicateed phone which they can answer from their home and even the email access is given to them with proper authorisation and approval so that all admission queries are answered and taken care of .Details of the new number and email id can be updated on th university website
4. Graduation ceremony for those who have passed cannot be kept as a result you would miss on some the major social activities of the university:...................... There is no option as social distancing is the most required thing during this crucial coronovirus thing hence this needs to be postponed may be their Certificates can be emailed and later courier them the hard copy or they can be given in the graduation ceremoney once the epidemic fear is gone