Advanced Business II Cindy Barnes, Business Teacher

Advanced Business II Virtual Enterprise A simulated business. –Setup and run by students to prepare them for working in a real business environment. Students. –Determine nature of their business. –Determine products and/or services offered. –Develop the management structure. –Engage in the daily operations of running a business. Teacher (“consultant”). –Provide guidance on the sideline. Business partners. Business software. –Emphasis is placed on using current business software, communications, and the internet for business transactions.

Advanced Business II Virtual Enterprise Virtual Enterprise Program brings the business world to the students –The virtual enterprise program Teach entrepreneurship Practical skills essential to career readiness Promotes healthy competition to motivate students Has the added advantage of linking students in a global business network

A dvanced Business II Virtual Enterprise No cash is used at all Products and services are produced in facsimile only Employees are paid, and business is conducted, via check or electronic funds transfer The firms (high school) have other high schools as trading / business partners Network permits standardization and coordination of activities among all firms

Virtual Enterprise Program Central Office Virtual enterprise center (VEC) –Located in Bakersfield, California –Managed by the kern high school district For participating schools, the VEC provides the following services: –Electronic banking (a clearing house with other national and international banks) –Electronic mail –Data collection –Company ratings –Network meetings –Curriculum resources –Acts as a communication center for the network –Organizes activities for students to attend trade fairs

National Network California network (secondary) New jersey network (community colleges) New York network (secondary) New York network (college) Virginia network (secondary) Rochester, New York (secondary) South Carolina (secondary) Oregon and Arizona (secondary) – first year of operation

Getting a Virtual Enterprise Company Started – Equipment Our classroom looks like a business office Fax machine Scanner Copier File cabinets Office furniture Computer for each student Internet access Conference tables and chairs

Getting a Virtual Enterprise Company Started – Technology Technology is used to enhance instructional outcomes Student employees use current office software products: word, excel, PowerPoint, access, publisher, FrontPage, etc Hosted business web site for e-commerce Use of on-line banking communications All work is expected to be produced in a professional format

Program Structure – Process Student learning is facilitated through innovative practices They don’t just go to class, they go “to work” They learn by doing not by memorizing They understand the corporate organizational structure by working in teams Their assignments and projects are managerial tasks

Program Structure – Process The class will be grouped in the specific departments and separate responsibilities for the business/class as a whole: Executive/administration – business plan and presentation, approve completed tasks, ensure tasks are being completed in a timely manner and trade fair Human resource – employee manual, personnel files & staff development. Plan open house Accounting/finance – business checkbook, pay bills, taxes, payroll and participate in business plan Advertising & marketing – company catalog, uniforms, newsletters & company forms Technology - company web site & any printed items

Program Structure – Non-traditional The role of the instructor changes in virtual enterprise. –Student centered vs. teacher centered class. –Student run company, not teacher run. –The business community is involved in partnerships, mentoring, etc. –Help create student ownership of business. –Students assume a combination of professional roles in the business.

Program Structure – Content Essential business skills are delivered throughout the program - Entrepreneurial skills - Information processing - Understanding of global economy - Money management - Presentation skills - Guiding principles / workplace skills

Program Structure – Supporting Activities Local trade fairs & business conferences Job shadowing & internships with corporate partners Staff development and training Business and annual report presentations Company grand openings Open houses

My time is finished. Any questions or suggestions are welcome If You would like additional information or would like to participate as a business partner with our students, please contact Cindy Barnes, Business Teacher (928)