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Frequently Asked Questions...

• What equipment is needed to run a virtual enterprise lab?
• Computer lab, Internet access
• Nice to have: fax machine, copier access, video-camera, digital camera, color printer.
• What are the start-up costs?
• Professional development expenses for training
• Fee paid to the VE Virginia Central Office. This office runs the network and manages banking functions.
• How is the project funded?
• In Virginia individual school districts fund Virtual Enterprise with a mix of local funds, student fund raising and Carl Perkins funds.
• Classroom Funding Information
• What is the meaning of virtual?
• All business conducted by the firms and the students is done on-line, at open houses and at trade fairs. No physical goods and services actually change hands. In other words, it's “virtual.”
• How are students evaluated in a virtual enterprise program?
• Teachers develop a variety of evaluation methods: product evaluation, oral and written reports, test and quizzes, as well as peer and performance evaluation.
• How is the curriculum linked to standards? Competencies? State and national standards?
• The courses that implement the concept are based on state course competency lists that are linked to the Virginia Standards of Learning and national occupational standards.
• Is virtual enterprise a class?
• The concept is a method of instruction that is used in Marketing Management, Business Management, Accounting, and Finance courses. Other states may have developed a class titled Virtual Enterprise.
• How are students selected/placed in the program?
• The course is recommended for 11th and 12th grade students. Students who have completed Accounting, Computer Applications and other technology-rich courses may have greater success.
• What are the objectives of Virtual Enterprise VA?
• Improve students' communication, problem-solving and team building skills.
• Enhance students' global economic knowledge.
• Engage students in hands-on applications with tangible results through participation in the international network of practice firms.
• Use technology and the Internet in global transactions and communications.
• How does this benefit students?
• Allows students to participate in integrated school and workplace activities to enhance learning.
• Provides student-employees with in-school work experience.
• Develops student responsibility for actual work-related tasks and transactions.
• Enhances understanding of the connection between the disciplines and the application of the acquired knowledge and skills in the workplace.