Sustainability Risk Framework for Universities In the Context of Covid-19 Pandemic

In today’s world, COVID-19 pandemic has affected many organizations. Pandemic issues have created financial and social problems for businesses. Crisis and risk management have a significant impact on reducing consequences of pandemics. Rapid response to risk enhances the performance of organizations in times of crisis. Therefore, a framework to provide risk treatment in a pandemic crisis seems essential. To do this, this paper presents a framework to identify risk factors posed by pandemics. In this regard comprehensive risk factors by considering sustainability concept are illustrated for university. Then, identified risk factors are evaluated by best–worst methodology (BWM) and then the important risks are recognized. Using the importance of risk and the strengths and weaknesses of the business, solutions to reduce the impact of risk are suggested to managers. The results of this paper can be used in order to enhance resiliency of the organization in front of the pandemics from social and financial viewpoints.