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 ("coordinator") and real-world business partners, the Virtual Enterprise students determine the nature of their business, its products and services, its management and structure, and then engage in the daily operations of running the business. Emphasis is placed on using current business software, electronic communications, and the Internet for business transactions. The Virtual Enterprise simulation takes the teacher outside of the traditional instructional paradigm and remarkably places the students in the fast-paced environment of the modern business.