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2.0 SITUATION ANALYSIS (CONTINUED)
2.2.8 Risk Assessment Summary
In summary, the Council is conscious of the challenges and risks facing the region and exaggerated by the COVID-19 pandemic. This global pandemic has totally transformed our way of doing business particularly the delivery of education and financial allocation. Accordingly, CXC® being cognisant of the adverse effect on regional governments’ ability to make their contribution to the Council, has considered the development of a sustainable funding model. New opportunities to build financial strength will be pursued along with cost reduction strategies to augment the resources available to fund the initiatives required for successful achievement of the strategic objectives and ultimately the strategic plan. Our expansion of entries in areas such as CCSLC®, CAPE® and CVQ will show payback beyond the financial for the Council. In addition, the Council has also reviewed its approach to the expansion of its products to neighbouring territories such as Dominican Republic and Haiti with an aim of increasing market reach and to realise increased revenue. It aids in ensuring a broader section of the population has formative and more advanced technical capacity.
Using the strengths and opportunities identified in the SWOT analysis and mitigating against the risks, prospects lie ahead for CXC® and the region, despite the various challenges and threats in the environment in which CXC® operates. The Council intends to continue its efforts, through the use of technology, to not only meet its mandate of contributing to the human capital of the region, thus creating value for the society which it serves, but also to build resilience in a very difficult regional and global environment.
CXC® STRATEGIC PLAN | 2021–2025
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