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Risk Management For Ag Families: An Integrated Curriculum With Impact Across Four States

Christopher Bastian

Summary

Given the importance of risk management skills in improving agricultural firm viability, it is noteworthy that little research has been published regarding the impact of risk management education programs on producer behavior and knowledge levels. The available research literature suggests that integrated educational programs offered in a number of short educational sessions coupled with hands-on applications between program offerings greatly improves depth of knowledge and significantly changes behavior of individuals. The objectives of this project were to; 1) Develop, present and evaluate a series of educational programs to producers in northeastern Wyoming, northwestern South Dakota, southwestern North Dakota and southeastern Montana focusing on an integrated approach to risk management, business finance, personal finance and human relations in family run businesses,; and, 2) Introduce producers to computer programs that they could use, in class and at home, to analyze possibilities and formulate plans related to risk management, business financial analysis and family finance. Research on the impact of this educational approach and the effectiveness of these teaching tools required participants to complete the following:
a. Pre-workshop survey related to knowledge and practices in the areas of risk management, family decision making and family finance;
b. Post-workshop surveys of the same areas;
c. Risk-management self-assessments regarding current practices;
d. A follow-up survey one to three months after completing the training.
Preliminary analyses of the results indicate this integrated approach had impact across the four state area. Further analyses of these data will be conducted and subsequently presented during the session.

Details

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