Enterprise Risk Management, 2nd Edition

CHAPTER 5How to Teach Enterprise Risk Management: A Learner-Centered Activities Approach

 

DAVID R. LANGE, DBA

Adjunct Teaching Fellow, Trinity College, Dublin Emeritus Professor of Finance, Auburn University, Montgomery, Alabama

 

BETTY J. SIMKINS, PhD

Department Head of Finance, Regents Professor of Finance, and Williams Companies Chair of Business, Spears School of Business at Oklahoma State University

 

INTRODUCTION

In recent years there has been a movement in higher education that may be viewed as a paradigm shift, moving from an instruction-centered focus in teaching to a more student-centered education. This chapter introduces a method consistent with this paradigm shift—the learner-centered activities (LCAs) approach for teaching enterprise risk management (ERM) in higher education. The LCA approach covered in this chapter is an extension of the ERM innovative teaching methods discussed in Lange and Simkins (2015). This approach expands the learner-centered teaching (LCT) method of Weimer (2002) and the flipped classroom approach of Shibley and Wilson (2012), which utilize content as a means to learning. LCA places emphasis on conceptual discovery and employs the ERM integrated framework and a holistic vision.¹ Using a holistic vision approach to risk management education ensures that students understand the interrelationships among individual risks and grasp the enterprise view.

The LCA method provided in this chapter was developed by Dr. David Lange, one of the authors ...