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I Overview and Insights for Teaching ERM

An Innovative Method to Teaching Enterprise Risk Management: A Learner-Centered Teaching Approach

DAVID R. LANGE

Distinguished Research and Teaching Professor of Finance, Auburn University Montgomery

BETTY J. SIMKINS

Williams Companies Chair of Business and Professor of Finance, Oklahoma State University

Learner-centered teaching (LCT), commonly referred to as "flipping the classroom" (Shibley and Wilson 2012), is an alternative to the traditional teacher lecture (TL). With LCT, students actively participate in the pedagogical process and take increased responsibility for learning through constructive reflective reasoning. Where with TL content is covered, content in LCT is used as a "means to learning" (Weimer 2002). LCT is ideally suited for content provided in lists, tables, charts, and exhibits, and particularly so if these are in the form of topic overviews, flowcharts, or summaries. The case method espouses similar student- engaged learning processes by promoting critical thinking and analysis, creating discussion of conflicting issues and requiring a decision (Bean 2011). LCT amplifies and broadens student learning from cases. Hence, the case studies in this book are ideal for teaching enterprise risk management (ERM) using LCT.

The chapter is presented in three sections. The first section clarifies the concept of flipping the classroom with LCT, distinguishing LCT from a TL, and why the growing LCT movement should be joined. The second section considers the what, Weimer's (2002) Learner Centered Teaching "Five Key Changes to Practice," a definitive paradigm for changing pedagogy to LCT from a TL. A final section, the appendix, provides examples of how, using content to utilize LCT in an enterprise risk management (ERM) course at Auburn University Montgomery. The examples are from Enterprise Risk Management: Today's Leading Research and Best Practices for Tomorrow's Executives (Fraser and Simkins 2010), which opportunely provides ERM content in the supporting formats. The LCT examples are provided in

Exhibit 2.1 TL versus LCT

Bloom (1956)

Anderson and Krathwohl (2001)

Expanded

• Knowledge

• Comprehension

• Application

• Analysis

• Evaluation

• Synthesis

• Remember: Recognize, recall

Understand: Interpret, explain

• Apply: Calculate, solve

Analyze: Distinguish, relate

Evaluate: Critique, test

• Create: Hypothesize, devise

Memorize, recollect, retain

• Comprehend, realize, apprehend

Compute, estimate, determine

• Examine, explore, study, associate

• Assess, appraise, review, comment

Speculate, theorize, postulate, offer, imagine, assume, suggest

contrast to TL approaches, and include learning notes expanding the how of examples.

 
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