What is Virtual Enteprise?

A Virtual Enterprise is a simulated business that is set up and run by students to prepare them for working in a real business environment. With the guidance of a teacher ("consultant") and real-world business partners, the students determine the nature of their business, its products and services, its management and structure, and engage in the daily operations of running a business. Emphasis is placed on using current business software, communications, and the Internet for business transactions.

More and more classroom teachers have found ways to bring the business world to their students through programs such as the Stock Market Game and Junior Achievement. These programs teach entrepreneurship and practical skills that are essential to career readiness while promoting healthy competition to motivate students. The Virtual Enterprise Program follows in the footsteps of these other efforts, and has the added advantage of linking students in a global business network. This simulation takes the teacher outside of the traditional instructional paradigm and then places the students on the front lines of the business world.

As the network of student-run businesses in the United States continues to grow, virtual enterprises are linking together in regional, national and global networks so that the firms have each other as trading/business partners. Such a network permits standardization and coordination of activities among all firms within a city, state, or country.

The Virtual Enterprise courses offered in South Carolina meet the South Carolina State Standards for the Small Business Administration cluster.