Sustainability, Profitability and Challenges Encountered in Income Generating Projects of University of Rizal System

Dr. Jennelyn Guzman-Mercado¹, Dr. Susana C. Bautista²

^1,2 University of Perpetual Help System Laguna, Philippines

ABSTRACT: In today’s educational landscape, financial constraints are common among institutions. However, income-generating projects (IGPs) offer a sustainable solution, as noted by Boqueo (2023), providing both financial stability and valuable learning experiences for students. State universities and colleges (SUCs) particularly see IGPs as a vital income source, reflecting a shift towards collaborative funding efforts between the government and development partners (Adan & Keiyoro, 2019).Insights from Adora and Ultra (2022) highlight IGPs’ effectiveness in securing additional resources for schools, supporting various programs and bridging funding gaps. Embracing IGPs, as emphasized by Battad (2019), offers solutions to various challenges by integrating research, instruction, and extension while fostering job creation and supplementing school budgets.

In this context, this study was conceived to determine the level of profitability, level of sustainability, and challenges encountered in income generating projects of University of Rizal System. The study utilized descriptive-correlational research design. Copeland (2022) stated that the aim of descriptive research is to describe a phenomenon and its characteristics. Correlational research refers to a non-experimental research method which studies the relationship between two variables with the help of statistical analysis. In particular, this study described level of sustainability, level of profitability and challenges encountered in income generating projects of University of Rizal System.

The respondents of the study composed of the 130 admin and finance officials  of University of Rizal System . The actual sample of 98 was computed using the Raosoft Calculator and were chosen through the random sampling method (Rahi, 2017) with a confidence level of 95% and 5% a margin of error. A stratified sampling technique was in the study.

The findings revealed that the overall weighted mean of 3.37 indicates that there was a “Very High” level of sustainability in income generating projects of University of Rizal System . More so, the overall weighted mean of 3.25 indicates that there was a “Very High’  level of profitability in income generating projects of URS .The University of Rizal System faces several challenges in its Income Generating Projects (IGPs) based on survey responses. Major hurdles includes lack of funding for initial investments, insufficient project execution infrastructure, and resistance to change among faculty and staff, and difficulties aligning projects with academic goals. The level of sustainability significantly correlated with the level of profitability as shown by the Pearson r values of market demand and level of profitability along revenue generation (r=0.832; p=0.000) and financial and cost management (r=0.781; p=0.000) level of sustainability; Community engagement  and level of profitability along revenue generation (r=0.738; p=0.000) and financial and cost management (r=0.731; p=0.000), level of sustainability; Legal laws and regulations  and level of profitability along revenue generation (r=0.622 p= p=0.000)Financial and cost management (r=0.609 p=0.000) level of sustainability environmental and social impact and level of profitability along revenue generation (r=0.635 p=0.000) which were all less than the 0.01 and 0.05 level of significance. A value of 0.000 indicates a high level of prediction of the dependent variable (Level of Profitability). The obtained R square of 0.723 shows the independent variable ( market demand, Community engagement, Legal laws and regulations, Environmental and social impact)explain the variability of the dependent variable (level of profitability). Further, the ANOVA shows that the independent variable (level of Sustainability) being statistically significantly predicted the dependent variable Level of Profitability with an F-value of 47.922 and a probability value of 0.000which is less than the 0.05 significance level.

In conclusion, the Income Generating Projects (IGPs) at University of Rizal System (URS) achieved a very high level of sustainability. This is a manifestation that the IGPs are not only meeting legal requirements but are also making positive contributions to the environment, society, and community. The high level of profitability in Income Generating Projects (IGPs) of University of Rizal System (URS) signifies outstanding performance in terms of revenue generation and financial management. The Income Generating Projects (IGPs) at University of Rizal System (URS) reveals a comprehensive understanding of the challenges faced in their implementation. The predominant challenges include a lack of funding for initial investments, insufficient project execution infrastructure, and resistance to change among faculty and staff. The higher the level of sustainability along with market demand, community engagement, legal laws and regulations and environmental and social impact, the higher the level of profitability along with the revenue generation and financial and cost management. The independent variable level of sustainability is the driver of level of profitability, hence, the proposed action plan may be implemented to address the challenges encountered in income-generating projects at the University of Rizal System.

KEYWORDS: Sustainablity, Profitability, Challenges in Income Generating Projects

INTRODUCTION

In contemporary times, educational institutions frequently confront financial constraints within their budgets. Nevertheless, a sustainable solution has emerged through income-generating projects (IGPs), which not only stabilize schools financially but also offer valuable learning opportunities for students (Boqueo 2023)[1]. State universities and colleges (SUCs) perceive IGPs as a significant income source, reflecting a shift in education financing towards collaboration between governments and development partners (Adan & Keiyoro, 2019)[2]. Consequently, there has been a surge in IGPs aimed at ensuring the effective provision of quality education (Chirchir et al., 2019)[3].

According to Adora and Ultra (2022)[4], implementing income-generating projects emerges as a powerful strategy for schools to obtain additional resources. These initiatives are vital in supporting programs facing funding gaps, empowering educational institutions, and enabling business units in higher education to enhance their financial resources. As highlighted by Sakhiyya and Rata (2019)[5], this diversification reduces dependence on government budgets.

Additionally, Battad (2019)[6] stressed the significance of adopting income-generating projects as a crucial solution to diverse challenges. Apart from facilitating the integration of research, instruction, and extension, these projects also foster job creation and augment the school budget. Boldureanu et al. (2020)[7] further argued that launching a business provides students with insights into the

Corresponding Author: Dr. Jennelyn Guzman-Mercado

*Cite this Article: Dr. Jennelyn Guzman-Mercado, Dr. Susana C. Bautista (2024). Sustainability, Profitability and Challenges Encountered in Income Generating Projects of University of Rizal System. International Journal of Social Science and Education Research Studies, 4(9), 1073-1089

inception of business concepts and situations. Consequently, this approach enables schools to generate revenue, ultimately enhancing the teaching and learning environment.

Highlighting the importance of income-generating projects, Ogba et al. (2019) [8] emphasized their role in promoting self-reliance and bolstering financial sustainability for schools. Various revenue sources, as noted by Okoth (cited in Living and Kaganga, 2022)[9], contribute to effective university management by facilitating salary payments and enhancing physical facilities. Mtorobo (2019) [10] discovered that such projects are crucial in providing additional funds for teaching materials and overall school provisions. Moreover, these initiatives offer students practical training experiences, bridging the gap between theoretical knowledge and entrepreneurial skills, especially in business-related courses (Nyamwega, cited in Yap, 2022)[11].

In establishing a robust educational program, administrators encounter challenges, particularly with insufficient financial support from the national government, as evident in the education budget (Tolbe, 2022)[12]. State Universities and Colleges (SUCs) face financial struggles as they aim to improve education accessibility amidst rising costs. To address this, SUCs actively engage in Income-Generating Projects (IGPs) to ensure the delivery of quality education.

Given legal autonomy, state universities, as highlighted by Sahroni (2021)[13], can participate in income-generating activities, reducing reliance on government funding. This autonomy allows them to explore additional income sources, making the profitability of such projects crucial. The planning, execution, and ongoing evaluation of these projects are complex processes, aiming to generate revenue to supplement government funding and ease the financial strain on the state. Profitability relies on identifying feasible and sustainable projects aligned with the university’s strengths and resources.

Additionally, individuals in sustainability governance roles within university projects, as indicated by the surveyed sustainability offices in the study by Filho et al. (2019)[14], express concerns about the inadequate allocation of resources and a lack of commitment from the administration to achieve sustainability goals (Son-Turan, 2021)[15].

Issa and Mhagama (2022)[16] identified challenges in managing school income-generating projects, including resource misallocation, inadequate resources, insufficient supervision skills, and poor staff cooperation. Lyanga and Chen (2020)[17] emphasized that many school administrators face challenges due to a lack of funds for implementing income-generating projects.

Lasway (2019)[18] outlined challenges faced by school administrators when managing income-generating activities. These challenges include a lack of education on specific project types within schools and a shortage of skilled personnel. Consequently, income-generating projects are often overseen by educators rather than business professionals, leading to deficiencies in financial accounting, reporting, and the absence of adequate policies and guidelines for project implementation (Dasig Jr. 2019)[19]. Additionally, according to Manasan et al. (cited in Yap 2022)[20], mismanagement such as weak financial management and a lack of internal control is evident, hindering the monitoring and analysis of project results.

Thus, this study is conceived to determine the  level of sustainability, level of profitability, and challenges encountered in income generating projects of University of Rizal System. Specifically, this study had the following aims (1) to investigate the level of sustainability in income generating projects of University of Rizal System in terms of  market demand; community engagement; legal laws and regulations; and environmental and social impact (2)discuss the  level of  profitability of income generating projects of University of Rizal System in terms of revenue generation; and financial and cost management.(3) discern the significant relationship between the level of sustainability and level of profitability  of  income generating projects and (4)discern the challenges encountered in income generating projects and (5) discover how predictive are the level of sustainability and level of profitability, taken singly or in combination motivation, taken singly or in combination, of income  generating projects of University of    Rizal System. Lastly, by the time this study had concluded, the researcher came up with several recommendations in hopes that it would serve as a guide for the implementers in aim to provide with actionable strategies to address the challenges and optimize the management of income-generating projects in educational institutions, ultimately enhancing their effectiveness and sustainability in supporting the delivery of quality education.

The study was anchored on Resource Dependency Theory (RDT) which offers a perspective on income-generating projects in schools, highlighting that schools rely on external resources for successful project initiation and sustained operation. In this framework, schools are viewed as interconnected with external entities, necessitating strategic relationships with businesses or government bodies for financial support, expertise, and community backing. The power dynamics in these relationships impact negotiation and resource allocation terms.The theory also acknowledges the dynamic external environment, prompting schools to adapt income-generating strategies in response to economic changes, regulations, and societal expectations. In essence, RDT provides insights for schools navigating the complexities of income-generating projects by effectively understanding and managing external dependencies.

Another theory used is Sustainability theory. This theory, at its core, emphasizes meeting the needs of the present without compromising the ability of future generations to meet their own needs. In the context of school income-generating projects, sustainability involves implementing practices that ensure long-term economic viability, environmental responsibility, and social equity.

In addition, this study was also strengthened by  Diffusion of Innovation (DOI) Theory postulated by E.M. Rogers (as cited in LaMorte, 2019) explains that an idea gains momentum and diffuses through a specific population. The theory assumes that adoption of a new idea, behavior, or product does not happen simultaneously; rather it is a process whereby some people are more apt to adopt the innovation than others. And lastly, Resource Dependency Theory (RDT), postulated by Pfeffer and Salancik as cited in Gordon (2023), posits that organizational behavior is influenced by external resources. In the realm of income-generating projects in schools, RDT underscores the reliance of schools on external resources for both the initiation and sustained operation of projects.

METHODS

The descriptive- correlational research design was employed by the researcher to determine the level of sustainability, level of profitability, and challenges encountered in income generating projects of University of Rizal System, AY 2023-2024. Specifically, it determined the relationship between the above-mentioned variables.  The respondents of the study composed of the 130 admin and finance officials  of University of Rizal System . The actual sample of 98 was computed using the Raosoft Calculator and were chosen through the random sampling method (Rahi, 2017) with a confidence level of 95% and 5% a margin of error. A stratified sampling technique was applied in the study. The sampling mentioned earlier eliminates any bias in the study’s result since every element in the population has a chance to be selected as a respondent or participant. It also provides empirical information with a limited chance of data errors.

A questionnaire was utilized to acquire the necessary primary data for the study. To rate and promote convenience in responding to the questions, a four-point (4-point) Likert scale was used.  Since the questionnaire was a researcher-made, it was subjected to validation through presentation to the panel of experts in research, language teaching, and in statistics. Their comments and suggestions were essential for its validity. After some modification, it was shown to the adviser for final approval. Thereafter, the instrument was statistically subjected to a content validation process using Cronbach Alpha. The computed Cronbach’s alpha coefficient for the level of sustainability was  0.874; level of profitability  was 0.883 and challenges was 0.846 which means that the data of the researcher were valid and reliable. The accomplished questionnaires were collected right after they were answered by the respondents and the gathered data were tallied, tabulated, analyzed, and interpreted.

Before collecting data, a permit to conduct the study was sought. After that, the letter and the survey instrument were sent to the respondents via google document. Google documents used for the data gathering can accommodate respondents from distant locations.

Statistical tools such as weighted mean and ranking, Pearson r, Frequency and Stepwise Multiple Regression Analysis were used for the analysis of data and interpretation of results.

RESULTS AND DISCUSSION

1. Level of Sustainability in Income Generating Projects

Table 1. The Level of Sustainability in Income Generating Projects of University of Rizal System in terms of Market Demand

Table 1 presents the level of sustainability of income generating projects of University of Rizal System in terms of  Market Demand. As seen in the table, indicator 3 “The university consistently offers excellent products and services that meet or surpass market expectations” was ranked 1 with a weighted mean of 3.30 and verbally interpreted as “very high”; while Indicator 2 and 4 “The university adapts and evolves by following market trends to ensure its continued relevance.” The university routinely engages in market research and analysis to comprehend market dynamics, identify opportunities, and foresee changes in demand”  both ranked 2.5 having a  weighted mean of 3.21 and verbally interpreted as “high”

On the other hand,  Indicator 6, “The university implements marketing strategies that adeptly cater to the demands of the market..” ranked 4 with 3. 20 weighted mean and verbally interpreted as “high” followed by Indicator 7 “The university consistently monitors and evaluates changes in market dynamics.” with a weighted mean of 3.18 and verbally interpreted as “high”.  Indicator 1 stating that ” The university exhibits a pattern of consistent and sustainable growth in revenue over time ranked 6 with 3.17 weighted mean and verbally interpreted as “high”

To sum up, the average weighted mean of 3.21 revealed that there was a High  sustainability on market demand of  income generating projects of University of Rizal System. This implies that URS admin consistently provide high-quality products or services that meet or surpass market expectations, adjust and transform in accordance with shifting market trends, ensuring ongoing relevance, routinely engage in market research and analysis to comprehend market dynamics, identify opportunities, and foresee changes in demand, implement marketing strategies that adeptly cater to the demands of the market, consistently monitor and evaluate changes in market dynamics and exhibit a pattern of consistent, sustainable growth in revenue over time and introduce distinctive features or services that differentiate them in the market and appeal to a broad range of customer segments.

Table 2. The Level of Sustainability in Income Generating Projects of University of Rizal System in terms of Community Engagement

Table 2 shows the  Level of Sustainability in Income Generating Projects of University of Rizal Systemin terms of Community Engagement. It can be seen in the table that  indicator 2 got the highest weighted mean of 3.43, “The university actively involves a variety of stakeholders, considering the viewpoints and requirements of the community, local authorities, and other pertinent groups.” and verbally interpreted as “very high”; followed by Indicator 1” The university aims to establish mutually beneficial relationships with local businesses, organizations, and residents. Having a weighted mean 3.39 and interpreted as “very high” . On the other hand, Indicator 3 and 4 “The university empowers the community by engaging them in decision-making processes and offering chances for skill development.” The university engages in projects that exhibit cultural sensitivity, respecting and integrating local traditions, values, and practices into its activities…” both got a weighted mean of 3.35 and verbally interpreted as “high”.

On the other hand, Indicator 5 stating that ” The university is committed to maintaining open and transparent communication with the community.” ranked 5 with a weighted mean of 3. 34, verbally interpreted as “very high” followed by Indicator 7  stating that “The university gives precedence to social equity by addressing disparities and ensuring that the project’s benefits are accessible and fairly distributed among community members..” with a weighted mean of 3.31, verbally interpreted as “ very high.” On the other hand, Indicator 6 ” The university regularly assesses community needs to recognize and respond to the changes and aspirations of the local population” ranked 6 with a weighted mean of 3.27and verbally interpreted as “ very high”.

To sum up, the average weighted mean of 3.35 revealed that there was a “Very High”  Level of Sustainability  on Community Engagement in Income Generating Projects of University of Rizal System.  This only implies that the university incorporate and actively involve a variety of stakeholders, taking into account the viewpoints and requirements of the community, local authorities, and other pertinent groups. cultivate mutually advantageous connections with local businesses, organizations, and residents, empower the community by engaging them in decision-making processes and offering chances for skill development, engage in projects that exhibit cultural sensitivity, respecting and integrating local traditions, values, and practices into their activities. uphold clear communication with the community, give precedence to social equity by addressing disparities and ensuring that the project’s benefits are accessible and fairly distributed among community members, and consistently perform assessments of community needs to recognize and respond to the changing requirements and aspirations of the local population.

Table 3. The Level of Sustainability in Income Generating Projects of University of Rizal System in terms of Legal Laws and Regulations

Table 3 presents the level of sustainability of  income generating projects of University of Rizal System in terms of Legal Laws and regulations. It can be gleaned from the table above that  indicator 1 and 5 which states that “The university strictly adheres to pertinent laws and regulations, ensuring complete compliance with the legal standards governing its operation and “The university places utmost importance on protecting data and ensuring privacy..” both got the highest weighted mean of 3.53 which verbally interpreted as “very high”; followed by  Indicator 3” The university conducts regular audits to assess compliance with pertinent laws and regulations.”  having a weighted mean of 3.51 and verbally interpreted as “very high” while Indicator 2, “The university maintains ethical business practices, surpassing legal requirements to ensure fairness, transparency, and integrity in all transactions” ranked 4 with a weighted mean  3.50 and verbally interpreted as “ very high”.

On the other hand, Indicator 4 and 6 “The University ensures compliance with consumer protection laws to safeguard customer rights and interests.” The university ensures adherence to labor laws, advocating for fair and equitable employment practices..” both ranked 5.5, with 3.48 computed  weighted mean of 3.48  and interpreted as “ very high”. Next is Indicator 7 ”The university is committed to financial transparency, complying with all laws and regulations governing financial reporting, taxation, and accountability to stakeholders.” obtaining a weighted mean of 3.46, and verbally interpreted as “ very high”

To sum up, the average weighted mean of 3.50 revealed there was a very high  level of sustainability in income generating projects of University of Rizal System in terms of its Legal Laws and Regulations. This  only means that the University strictly adheres to pertinent laws and regulations, maintains ethical business practices, surpassing legal requirements to ensure fairness, transparency, and integrity in all transactions, regularly perform audits to evaluate adherence to legal laws and regulations, ensures compliance with consumer protection laws to safeguard customer rights and interests, ensures adherence to labor laws, committed to financial transparency, complying with all laws and regulations governing financial reporting, taxation, and accountability to stakeholders.

Table 4. The Level of Sustainability in Income Generating Projects of University of Rizal System in terms of Environmental and Social Impact

Table 4 presents the Level of Sustainability in Income Generating Projects of University of Rizal System as to its Environmental and Social Impact. As seen in the table, among the indicators mentioned, indicator 2 “The university implements measures to protect ecosystems and conserve natural habitats”  ranked 1 with a weighted mean of 3.48 and verbally interpreted as “very high”; followed by  Indicator 1 ” The university implements practices aimed at reducing ecological footprints, conserving resources, and fostering environmental sustainability obtaining  a weighted mean 3.45  which is verbally interpreted as “very high”. Indicator 4 and 6” “The university is committed to adopting environmentally responsible waste management practices.” The university demonstrates measurable positive impacts on environment, society, and community development both ranked 3.5 obtaining a weighted mean “ 3.43 and verbally interpreted as “ very high”.

More so, Indicator 3 and 7 “The University actively strives to reduce waste, promote recycling, and adopt eco-friendly waste management practices” and  “The university gives priority to fostering social inclusion and diversity bot got  a weighted mean of 3.43 and an interpretation of “ very high”. Next is  Indicator 5 stating that “The university engages local communities and relevant organizations in decision-making processes and initiatives that impact the environment and society.” with a weighted mean of 3.39 and interpreted as “very high”

To sum up, there was a “Very High”  Level of Sustainability on Environmental and Social Impact of Income Generating Projects obtaining a weighted mean of 3.43. This only means that the university implements measures to protect ecosystems and conserve natural habitat hence implements practices aimed at reducing ecological footprints, conserving resources, and fostering environmental sustainability, embrace environmentally responsible waste management practices, give priority to fostering social inclusion and diversity and involve stakeholders, such as local communities and pertinent organizations, in decision-making processes and initiatives that have implications for the environment and society.

Table 5. Summary Table of the Level of Sustainability in Income Generating Projects  of University of Rizal System

Table 5 shows the summary table for the Level of Sustainability in Income Generating Projects of University of Rizal System. It can be gleaned above, that the overall weighted mean of 3.37 manifest that there was a very high  Level of Sustainability in Income Generating Projects of University of Rizal System. Specifically on market demand, community engagement, legal laws and regulations and environmental and social impact 3.21;3.35;3.50 and 3.43 respectively.

The study result implies that the IGPs at the University of Rizal System are effectively addressing legal requirements, positively impacting the environment and society, engaging with the community, and responding to market demands, collectively contributing to a high level of sustainability.

2. The Level of Profitability of Income Generating Projects of University of Rizal System

Table 6. The Level of Profitability of  Income Generating Projects of University of Rizal System in terms of Revenue Generation

Table 6 presents the level of Profitability in Income Generating Projects of University of Rizal System as to  revenue generation. It can be gleaned from the table that indicator 6 “The university prioritizes customer satisfaction and loyalty, fostering repeat business and long-term relationships that contribute to sustained revenue” got the highest  mean of 3.34 and interpreted as “very high”; next is  Indicator 4 stating that  “The university monitors revenue performance.” With a weighted mean of 3.27 and verbally interpreted as “very high”, Indicator 2” The university fosters repeat Income Generating Projects and long-term relationships that contribute to sustained revenue..” ranked 3 with a weighted mean of 3.20 and verbally interpreted as “high” while Indicator 7 “The university implements pricing strategies that balance competitiveness.” got a  weighted mean of 3.17 and interpreted as “high”

On the other hand, Indicator 1 “The university creates a unique value proposition that is attractive to the customers and can generate profit.” ranked 5 with a weighted mean of 3.1 and verbally interpreted as “high”.  Indicator 3 “The university increases demand and explores new markets was ranked 6 with a weighted mean of 3.12 and verbally interpreted as “high. And lastly, indicator 5” The university efficiently scales its operation to meet the increased demand or the explored new markets.”  got a mean of 3.07 and verbally interpreted as “high.

To sum up, the average weighted mean of 3.19 revealed that there was a “High” level of profitability on revenue generation in income generating projects of University of Rizal System. This only means that the university prioritizes customer satisfaction and loyalty, fostering repeat business and long-term relationships that contribute to sustained revenue., monitors revenue performance, implement pricing strategies that balance competitiveness and exhibit a pattern of consistent and sustainable growth in revenue over time.

Table 7. The Level of Profitability of  Income Generating Projects of University of Rizal System  in terms of Financial and Cost Management

It can be gleaned from table 7 the level of Profitability in Income Generating Projects of University of Rizal System in terms of financial and cost management. As seen in the table, indicator 2 got the highest mean score of 3.38 and interpreted as “Very High”.  “The university carefully plans and manages its finances by engaging in strategic budgeting that leads it to wise allocation of financial resources”. Next is Indicator 1 “The university manages and reduces its operational expenses” got a weighted mean of 3.36  and verbally interpreted as “very high”, Indicator 4 “The university aims to make the most efficient use of its financial resources which includes personnel, equipment, and capital..” ranked 3 with a weighted mean of 3.33 and interpreted as “ very high” while  Indicator 7 “The university engages in accurate financial forecasting to anticipate future expenses and revenues.” got a weighted mean of 3.30 and interpreted as “very high.”

On the other hand, Indicator 5 and 6 “The university regularly evaluates the return on investment for various initiatives. and The university engages in accurate financial forecasting to anticipate future expenses and revenues.” Both ranked 5.5 with a weighted mean of 3.29 and verbally interpreted as “ very high”.  Indicator 3” The university implements robust risk management strategies to identify, assess, and mitigate financial risks.” with a weighted mean of 3.23 and verbally interpreted as “high.”

To sum up, the average weighted mean of 3.31 revealed that the level of profitability in income generating projects of University of Rizal System in terms of financial and cost management  was “ very high”. This implies that the university carefully plans and manages its finances by engaging in strategic budgeting that leads it to wise allocation of financial resources, manages and reduces its operational expenses, regularly evaluate the return on investment for various initiatives, engage in accurate financial forecasting to anticipate future expenses and revenues and implement robust risk management strategies to identify, assess, and mitigate financial risks.

Table 8. Composite Table for the Level of Profitability of Income Generating Projects of University of Rizal System

It can be seen above  the summary table for the Level of Profitability in Income Generating Projects of University of Rizal System. As presented in the table, the overall weighted mean of 3.25 indicates that there is a Very High  level of profitability in income generating projects of URS on their  Financial and cost management having a mean of 3.31 while  revenue generation got  3.19 weighted mean.

The study result implies that the level of profitability in IGPs at the University of Rizal System are performing exceptionally well in terms of profitability along with effective revenue generation and robust financial and cost management practices.

3. Relationship between the level of sustainability and level of profitability in Income Generating Projects of University of Rizal System

Table 9. Relationship between the level of sustainability and level of profitability in  Income Generating Projects of University of Rizal System

Table 9 presents the relationship between the level of sustainability and level of profitability in Income Generating Projects of University of Rizal System . As shown above, there was a significant relationship  between the level of sustainability market demand and level of profitability along revenue generation (r=0.832; p=0.000) and financial and cost management (r=0.781; p=0.000) level of sustainability; Community engagement  and level of profitability along revenue generation (r=0.738; p=0.000) and financial and cost management (r=0.731; p=0.000), level of sustainability; Legal laws and regulations  and level of profitability along revenue generation (r=0.622 p= p=0.000)Financial and cost management (r=0.609 p=0.000)  Level of sustainability as to  Environmental and social impact and level of profitability along with  revenue generation (r=0.635 p=0.000). This means that the higher the level of sustainability along  market demand, community engagement, legal laws and regulations and environmental and social impact, the higher the level of profitability along  revenue generation and financial and cost management.

4. Challenges in Income Generating Projects of University of Rizal System

Table 10. The Challenges Encountered in Income Generating Projects of University of Rizal System

Table 10 above presents a comprehensive overview of the challenges faced in Income Generating Projects (IGPs) at the University of Rizal System, highlighting an affirmative responses indicated by numerals. Notably, challenges such as the lack of funding for initial project investments and insufficient infrastructure for project execution are prominent, with 70 respondents affirming the former and 71 respondents acknowledging the latter. Resistance to change among faculty and staff is reported by 59 respondents, while difficulty in identifying viable income projects is recognized by 57 respondents. Regulatory hurdles and compliance issues are acknowledged by 53 respondents, and inadequate marketing and outreach strategies are cited by 54 respondents. Challenges in aligning projects with academic goals are identified by 66 respondents.

Additionally, lack of entrepreneurial mindset among stakeholders and difficulty in garnering student and alumni support each received affirmations from 54 and 53 respondents, respectively. Communication barriers among university departments are reported by 56 respondents, and the lack of a clear policy framework for income projects is noted by 51 respondents. Resistance from academic committees and boards is acknowledged by 42 respondents.

This detailed analysis offers a nuanced understanding of the multifaceted challenges faced by IGPs at the University of Rizal System, providing a foundation for targeted strategies and improvements.

5. Regression Between Level of Sustainability and Level of Profitability taken Singly or in Combination in Income generating Projects of University of Rizal System

Top of Form

Table 11. Regression Between Level of Sustainability and Level of Profitability taken Singly or in Combination in Income generating Projects of University of Rizal System

As shown in Table 11, there was multiple correlations between Level of Sustainability and Level of Profitability, Thus a value of 0.000 indicates the high level of prediction of the dependent variable (Level of Profitability). The obtained R square of 0.723 shows the independent variable ( market demand, Community engagement, Legal laws and regulations, Environmental and social impact)explain the variability of the dependent variable (level of profitability). Further the ANOVA shows that the independent variable (level of Sustainability) being statistically significantly predicted the dependent variable Level of Profitability with an F-value of 47.922 and a probability value of 0.000which is less than the 0.05 significance level. This implies that the independent variables level of sustainability is the driver of profitability, which further means that that the success and financial performance of Income Generating Projects (IGPs) at the University of Rizal System are significantly influenced by the degree of sustainability they exhibit.

6. Proposed Action Plan based on the challenges encountered in income generating projects

Based on the in-depth study of the data, the researcher has devised a plan of action to be considered in order to address the challenges encountered in income-generating projects at the University of Rizal System. Each area of concern is accompanied by specific objectives, strategies, timeframes, persons involved, budget allocations, and success indicators to ensure effective planning and implementation.

CONCLUSIONS

The Income Generating Projects (IGPs) at the University of Rizal System (URS) have achieved a very high level of sustainability. This indicates that the IGPs are not only meeting legal requirements but are also making positive contributions to the environment, society, and community. Moreover, they are responsive to market demands, collectively fostering a robust and improved sustainability framework within the university’s income-generating initiatives.

The high level of profitability of the Income Generating Projects (IGPs) of the University of Rizal System (URS) signifies outstanding performance in terms of revenue generation and financial management. This suggests that the IGPs have experienced notable improvements, showcasing effective strategies for optimizing financial outcomes and ensuring sustainable profitability within the university’s income-generating initiatives.

The Income Generating Projects (IGPs) at the University of Rizal System (URS) reveals a comprehensive understanding of the challenges faced in their implementation. The predominant challenges include a lack of funding for initial investments, insufficient project execution infrastructure, and resistance to change among faculty and staff. Additionally, difficulties in identifying viable income projects, regulatory hurdles, and inadequate marketing strategies pose significant obstacles. Despite these challenges, the study highlights areas for improvement, such as enhancing alignment with academic goals, fostering an entrepreneurial mindset among stakeholders, and addressing communication barriers. A clear policy framework and overcoming resistance from academic committees and boards are also essential for the successful execution of IGPs at URS.

The higher the level of sustainability along with market demand, community engagement, legal laws and regulations and environmental and social impact, the higher the level of profitability along with the revenue generation and financial and cost management.

The independent variable level of sustainability is the driver of level of profitability. The proposed action plan may be implemented to address the challenges encountered in income-generating projects at the University of Rizal System.

RECOMMENDATIONS

1. The administrators should prioritize investing by establishing continuous financial monitoring systems for regular assessments and adjustments to enhance and sustain profitability. Implement capacity-building programs for staff to improve financial management and sustainable practices. Emphasize diversification, innovation, stakeholder engagement, and adaptation to market trends for long-term success in successful IGPs and use them as models for future initiatives.
2. Faculty and staff should actively engage with and support these initiatives like incorporating sustainability principles into curricula, raising awareness about the positive impacts of IGPs on the environment and society. Collaboration with students to integrate real-world examples from IGPs into coursework can enhance the understanding of sustainable practices.
3. Faculty and staff should participate in on-going training programs focused on sustainability, ensuring they stay informed about the latest practices and can effectively communicate the significance of these initiatives to the broader school community.
4. The university administrators should prioritize securing additional funding for initial investments, focusing on infrastructure development, and implementing change management strategies to overcome resistance among faculty and staff. Improving the identification of viable income projects, navigating regulatory landscapes, and enhancing marketing strategies are critical for overcoming obstacles. Furthermore, the URS should work towards better alignment of IGPs with academic goals, fostering an entrepreneurial mindset among stakeholders, and establishing clear policy frameworks. Proactive measures to address communication barriers and gain support from academic committees and boards are essential for ensuring the successful execution and sustained success of IGPs at URS.
5. Administrators should implement or utilize the proposed action plan to address the challenges faced by the university.
6. Future researchers may replicate this investigation while considering additional variables such as socio-economic factors, technological advancements, or regional differences. Exploring these variables could provide a more comprehensive understanding of the factors influencing the success and challenges of Income Generating Projects at the University of Rizal System.

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