November 16, 2011 Objective: Students will work together to determine how to deal with risk.

Risk  On Monday we talked about how to deal with risk:  Avoid the risk. For example, don’t ride in a car if the driver has been drinking.  Reduce the risk. Since many risks cannot be avoided altogether, the more practical choice is trying to reduce the risk. Risk-reducing behaviors could include always wearing your seatbelt, locking up your bike, or avoiding walking around dangerous parts of the neighborhood after midnight.  Accept the risk. This is good if the likelihood of danger or loss is very small or the loss itself will not have major consequences in your life. For example, it might be very inconvenient to go without a backpack, so you use one even though there is some chance of it being stolen.  Share the risk. This is what insurance and investments do, especially insurance. You pay the insurance companies a sum of money a little, and if disaster occurs, they help you handle the loss.

Groups  I want you to break into groups of 3 – 4  I’m going to give you a risk scenario for Sam and I want you to discuss with your groups and decide if he should avoid the risk, accept the risk, reduce the risk, or share the risk… why and how.  You will have 2 minutes to discuss with your group and then I will have each group share their feelings with the class.

Risk #1 Risk Sam will lose a friend because of something he says, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why, and How?

Risk #2 Risk that Sam, who plays on the basketball team, will miss making the basket that would win tonight’s game, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #3 Risk that Sam might injure someone in an automobile accident that he caused, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #4 Risk that Sam might not take courses in high school that would enable him to get into a particular college, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #5 Risk that someone might break into Sam’s locker and steal his jacket, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #6 Risk that the band in which Sam plays will fail by not getting any bookings, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #7 Risk that Sam’s CD player will be stolen from his room at home, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #8 Risk that Sam’s car will be stolen, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #9 Risk that the weather for Sam’s proposed class picnic date at the state park will be cold, cloudy, or rainy, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?

Risk #10 Risk that Sam will get diabetes later in life, should he…  Avoid the Risk  Accept the Risk  Reduce the Risk  Share the Risk Why and How?