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Risk Management

Supported risk-taking, together with opportunities for learning how to assess and manage the consequences appropriately, should form an integral part of any entrepreneurial learning programme. This is a statement of why risk management matters, based on the experience of Junior Achievement Slovakia.

Purpose and process

Students must develop a variety of skills crucial to becoming a successful entrepreneur, including the skills associated with taking and managing risk. For example, students must be highly adaptable, allowing them to make changes to their enterprises in response to changing markets. However, they must also be able to assess risk so that they can make decisions that do not have a high potential to lead to economic failure. Unfortunately, schools do not develop curriculum often that encourage students to develop these skills.

Learning outcomes

Students can:

  • Build enterprising skills, attitudes and behaviours directly linked to making informed choices and recognising the effect that one's own actions can have on others - and theirs on you;
  • Develop confidence in decision-making and the ability to accept change, even when it is unexpected;
  • Through learning by doing, develop a range of strategies for managing risk and assessing what might be the consequences.

Curricular or thematic relevance

Could be used to enrich most subject areas, including STEM.

How to organise:

Developing the skills of risk management can take place in any context.

Assessment and evaluation approaches

Evaluation is necessary to ensure students understand the effects of risk-taking and how well they have managed the process.

Volunteer involvement

External partners including entrepreneurs can help students understand about risk and how to manage it - for example, when to take a risk and when to avoid it - by sharing some of their own experiences. Describing what they chose to do in certain circumstances, even when things were not successful, can provide a valuable learning/discussion opportunity for students which gives them a more realistic insight into entrepreneurship and the world of work.

Provider country

Slovakia

Provider Institution:

, Junior Achievement Slovakia  Slovakia

helper do TM detail body (June 6th, 1st half)

    Anders
22.02.2014

I cant figure out what to do, I get the idea about what the studenst is supposed to do, but is there any additional material???

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Total number of reviews so far: [ 1 ]

The latest review

I cant figure out what to do, I get the idea about what the studenst is supposed to do, but is there any additional material???

Anders 22.02.2014

helper do TM detail right side (TM June 6th, 2nd half)


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