VIRTUAL ENTERPRISE
WHAT IS VE?
Virtual Enterprises International (VEI) is an in-school entrepreneurship program and global business simulation that draws on the European tradition of apprenticeships. While VEI thrives in all types of schools and is open to all interested students, the program targets high school and college students from underserved communities, empowering them to unleash their potential through creating and managing business ventures. Each year, VEI transforms 500 classrooms into offices and 10,000 students into business executives.
VEI students learn by doing. The simulated business replicates all of the functions and demands of a real business in both structure and practice, from product development, production and distribution to marketing, sales, human resources, finance and accounting. As “employees” of the virtual business, students are accountable for their company’s management and performance. Through a web-based banking system that connects 5,000 student-run businesses in 40 countries, VEI students experience the expectations of the global economy and find new solutions to drive business results by trading across industries, borders and cultures.
VEI students receive 90 minutes of daily instruction for a full year. Rather than deliver prescribed lessons, VEI teachers guide learning using a project-based curriculum that is aligned with state standards, validated by the business community, and measured by a national exam. Business partners expose students to real- world learning by connecting them to professionals across industries who deliver technical content and serve as role models, coaches, mentors, business advisors and internship hosts.
VEI students are transformed into independent learners who take responsibility for the success of their firms and devote many hours beyond the school day:
* conducting market research
* developing business plans
* creating annual reports
* paying wages and taxes
* maintaining 401(k) plans
To further enrich their experience, students participate in a series of extended learning opportunities,
including:
* VEI’s Global Business Challenge
* VEI’s Advertising Futures Competition
* local and national business plan competitions
* local and national trade shows
* national and international business trips/exchanges, internships and career-readiness seminars
* college credits while in high school
Students also develop skills in:
* Technology
* Accessing, using and analyzing information
* Critical thinking, problem-solving and decision-making communication and collaboration
* Time management
As students develop workplace expertise and an entrepreneurial mindset, they also sharpen academic skills in math and English through activities such as working on their firm’s financials, analyzing risks and returns, and developing presentations and reports. With hands-on experience running and marketing a business, making complex decisions, communicating with customers and investors and preparing reports and presentations, these young entrepreneurs emerge prepared to tackle the demands of post-secondary education and meet the expectations of the job market.
WHY VE?
VIRTUAL ENTERPRISE SEQUENCE
Year 1 - Computer Applications
With information technologies a ubiquitous part of today's businessworld, business computer applications are one of the most fundamental skills to be learned by anyone entering the workforce. Business computer application courses teach students how to use standard software and programs found in everyday businesses. Classes cover ways to input, review, design and present information that improves productivity and efficiency. Courses are offered as the first sequence as a sophomore.
Year 2 - Entrepreneurship
The current generation of Millennials is generally characterized as being somewhat self-centric, confident and averse to traditional social conventions, traits that are consistent with those most seen in entrepreneurs. Students can learn how to identify and establish a strategic planning process for a future business through their coursework, says Dina Dwyer-Owens, CEO ofThe Dwyer Group who informally teaches entrepreneurship courses at Baylor University.
Entrepreneurship isn’t just an academic discipline; it is a way of life. Our faculty and staff recognize the interdisciplinary value of entrepreneurship and weave it throughout our curricular. The skills learned in our entrepreneurship classes are vital for the success of any business, large or small, public or private, corporate or not-for-profit, local or global.
Students learn to recognize, create and shape opportunities, provide the leadership and build the team to create economic and social value. Our students learn to assess feasibility and drivers of opportunities, develop viable business models, and take action. We teach both predictive and creative approaches to all aspects of launching, growing and expanding businesses and organizations. Our course provides a broad skill-set for businesses and a foundation in business skills and thinking like an entreprenuer.
Year 3 - Virtual Enterprise
With an emphasis on college and career readiness, VEI is an in-school, live, global business simulation that offers students a competitive edge through project-based, collaborative learning and the development of 21st-century skills in entrepreneurship, global business, problem solving, communication, personal finance and technology.
The National Business Plan Competition (NBPC) challenges VEI students from across the country to demonstrate their global business expertise through written business plans and oral presentations. It showcases best practices, rewards excellence, and allows high school students to apply sophisticated knowledge and skills attributed to business professionals and college students.
THE VE SEQUENCE
WHY VE?
WHAT IS VE?
