Bellringer: pull up PowerPoint 5.02 Risk Management
http://www.agsurvivor.com/
Give Miss W your pink exam schedule sheets to sign
Before Lunch:
We will review the 4 ways (avoid, transfer, assume, and insure) that people handle risk.
Futures explained http://www.youtube.com/watch?v=TClcxy4Ku28&feature=related
READ the risks and the decisions you will have to make BEFORE you play game.
For example if you only have 20% rain in your area is it wise to buy flood insurance?
Decide as a team which decisions are the most important because you will need to make decisions very fast if you have already talked about them you will be able to react better.
As you play the game a team member needs to write down what risks you encountered AND how you handled them, for example you decided to buy insurance for your animals (insure) or you hoped that nothing bad would happen to them (assume), you hired someone to take care of them (transfer) or you decided to sell them and avoid the hassle (avoid)
One winner from each ranch or group will be the team that makes the most profit (bank balance in green) (you must show to Miss W to be official) AND wrote down the risks you encountered and how you handled them. (insure, assume, transfer, avoid)
One team winner from entire class who lists the most risks on any type of farm AND how you would handle them (insure, assume, transfer, avoid).
Click on the Advice or Trends links to get GOOD advice
Make sure you make all decisions (there are decision tabs on some questions)
After Lunch:
Do bellringer questions for May 17
Read pages 462-468
Answer questions on page 468 (Do NOT write letter- write the entire answer)
1. A reputation for paying bills on time relates to
a person’s _________________________
2. The main activity of a credit bureau is to
______________________________________
_______________________________________________________________________
We will discuss farm risks and ways businesses insure risks.
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