an integrated curriculum with impact across four states l.
Skip this Video
Loading SlideShow in 5 Seconds..
: An Integrated Curriculum With Impact Across Four States PowerPoint Presentation
Download Presentation
: An Integrated Curriculum With Impact Across Four States

Loading in 2 Seconds...

play fullscreen
1 / 21

: An Integrated Curriculum With Impact Across Four States - PowerPoint PPT Presentation

  • Uploaded on

: An Integrated Curriculum With Impact Across Four States. C. Bastian, L. Anderson, T. Daniels, G. Gordon D. Griffith, S. Hadrick, V. Hayman, J. Hewlett, B. Taylor, R. R. Weigel 2005 National Extension Risk Management Education Conference. Introduction. Financial stress creates family stress

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
Download Presentation

PowerPoint Slideshow about ': An Integrated Curriculum With Impact Across Four States' - Michelle

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
an integrated curriculum with impact across four states

: An Integrated Curriculum With Impact Across Four States

C. Bastian, L. Anderson, T. Daniels, G. Gordon D. Griffith, S. Hadrick, V. Hayman, J. Hewlett, B. Taylor, R. R. Weigel2005 National Extension Risk Management Education Conference

  • Financial stress creates family stress
  • Survey conducted in Wyoming and Colorado found risk management to be an important topic for producers
  • Human risk element and dealing with family members ranked very high relative to traditional ag econ topics
  • How best to have educational impact?
past research
Past Research
  • Little published research on impact of risk management educational programs regarding producer behavior and knowledge levels.
  • Integrated educational programs offered in short sessions coupled with hands-on application between sessions improves educational impact.
  • Develop, present and evaluate series of educational programs to producers focusing on an integrated approach to risk management, business, personal finance and human relations
  • Introduce producers to computer programs they use in class and at home between sessions and beyond.
program timeline implementation
Program Timeline & Implementation
  • Early November Wyoming team conducts train-the-trainer session
  • Educators from WY, MT, SD, and ND participate
  • Educators from respectivestates conduct programs duringwinter/spring
  • Follow-up evaluation mailed early June using Dillman design
program components
Program Components
  • RightRisk
  • Family Financial Management
  • Can I Survive in Ag?
  • Rural Family Business
  • 2-3 hour in-class and handson sessions
  • Homework assignments betweensessions to keep producers engaged
  • Funded by 4-state grant (WY, MT, SD, ND)
family finances
Family Finances
  • Managing family finances; Power paying your way out of debt; Basics of estate planning
  • Educational objectives:- Increase awareness of family financial risks- Learn characteristics of financial literacy- Assessment of financial stability- Evaluation and planning to handle debt- Understand basic concepts of estate planning- Increase awareness of resource alternatives
risks in the family business
Risks in the Family Business
  • Family business risks; Family case activity; Family business model; Family business balance; Activity of family climate, family business role, or written policies
  • Educational Objectives:- Increase awareness of family business risks- Increase knowledge of risk mitigation alternatives- Assessing family business balance- Increase awareness of available resources
  • Computerized ranch/farm simulation allowing hands on risk management decision making (production & market risks)
  • Educational objectives:- Increased knowledge of sources of risk

- Increased knowledge of integrating risk management into operation

- Increased awareness of potential risk management alternatives

surviving in ag
Surviving in Ag
  • Presentation and interactive spreadsheet of case ranch and major financial statements
  • Educational objectives:- Gain understanding of the need for business financial performance analysis- Gain basic understanding of the interaction of financial statements- Gain understanding of interaction/impact the family has on the business
participation evaluation
Participation & Evaluation
  • Registration fee
  • Increased chance to win savings bond for each session attended
  • Certificates of completion
  • Pre & Post Program surveys; Pre & Post surveys for each session; Three-month follow-up survey
  • General Pre & Post Surveys:- Producers view risk management to be more important to their operation after going to educational sessions- Increased optimism about future- Increased knowledge of production, marketing, legal, and human risk and mitigation alternatives

- Increased desire to re-evaluate their risk management plans

results cont
Results (cont.)
  • RightRisk Pre & Post:- Production, market and financial areas significant sources of risk- Assessing levels of risk important in developing risk management plan
  • Family Finance Pre & Post:- Importance of family involvement in decision making- Importance of goal setting and planning for successful family financial management
results cont18
Results (cont.)
  • Surviving in Ag Pre & Post:- Shift in answer regarding what constitutes financial performance – from cash flow to positive net income- Increase in desire to prepare financial statements and do financial analysis
  • Family Business Risk Pre & Post:- Increased knowledge of how four systems of family work together to create successful business- Family business works best when individual, family, business and community working in balance
results cont19
Results (cont.)
  • Follow-up Survey:- 26 of 40 producers responded to follow-up survey- Had evaluated risks in operation and risk management plan- Investigating alternatives to reduce production and market risk- Evaluated family financial risk- Evaluated ways to reduce family business risks- Top priorities include assessing family balance and improving communication about business risks
  • Results indicate producers were implementing what they had learned.
  • Integration of traditional ag econ risk management with family business issues and relationships makes this program somewhat unique
  • Educational format seems to have worked relatively well