General Course Information
What is Virtual Enterprise?
(College Credit Available; BUS 110)
A Virtual Enterprises (VE) is a simulated business that is set up and run by students with the guidance of a teacher. This program allows students to experience, in a simulated business environment, all facets of being an employee in a firm. The Virtual Enterprise involves students in every aspect of a business, including human resources, accounting, product development, production, distribution, marketing and sales. This workplace simulation enables students to understand how employees, workgroup teams, and departments interact with each other and work together for the goal of the company.
The program is based on the European concept of practice firms, in which students run simulated offices in their schools and engage in virtual trading with other practice firms. It is a comprehensive and student-oriented approach towards teaching and working that provides practical and task-oriented instruction in a real-world environment, which ultimately conveys the expectations of the workplace. With communication links to nearly 3,000 firms around the world, the VE exposes students to different cultures, business practices and currencies and gives students a broader international perspective. Students engage in hands-on applications, problem solving and written and verbal communication. In addition, students learn about a variety of careers associated with business and industry, acquire global economic knowledge (including monetary and business systems of the countries in which the practice firms operate), and use technology as applied in business, including the use of the Internet for global transactions and communications.