How to begin the first two weeks of a Virtual Enterprise course.


Recommended Department(s) Responsible:

VE Coordinator


Objective (one to two sentences):

VE Coordinators will understand what items need to be addressed during the first two weeks of the course.



2-hour program:  1st two weeks of the course

1-hour program:  1st two to four weeks of the course


Steps to Complete:

The following is a list of suggestions on topics to address during the 1st two to three weeks of the virtual enterprise course.

1.      Review 1st quarter tasks on VE website

2.      Submit necessary paperwork for students to access their VE email.

O       VE email permission form is located in Reports (teacher access only).  Print a hard copy and run enough copies for all of your class

O       -Submit permissions to the VEC

§         NOTE:  Email accounts will only be approved when ALL student applications have been received.  DO NOT submit to VEC unless you have ALL of your student’s completed applications!

3.      Familiarize the students with the CA Virtual Enterprise website.

O       To hold the students accountable for this assignment, have them write a summary of their findings.  This can be an individual assignment or a small group assignment.  You may choose to have the students give a short oral report on specific areas of the website.

§         NOTE: The VE Coordinator must be familiar with the CA VE website.

4.      Research and select a possible business (product or service, or combination of both)

O       As a class, brainstorm what kind of business the students are interested in opening.

§         Write all ideas on the board and vote as a class.

§         VE Coordinator may recommend a business

§         Discuss pros and cons of each business

·         What is the VE competition?

·         Does anyone have knowledge of the business (including the coordinator)

·         Is their opportunity for the business to be profitable

O       Do Not select a public utility, such as water, gas, or electricity

O       Have the students research the VE market and determine which markets are flooded and which markets have limited or no competition.

§         Divide into small groups (ideally, no more than 3 students per group)

§         Assign each group all or part of a market segment from the Enterprises marketplace section of the website.

O       Have students/groups report on their findings (written and oral)

5.      Coordinator needs to begin identifying and contacting potential business partners

O       Business partners can contribute information regarding setting up your company

O       Business partners can be involved with interviewing for management positions

6.      Determine if business is going to be proprietary, partnership, or a corporation (who owns the business?)

7.      Determine the business structure (department/positions within the company)

O       Create an organizational chart that includes all company positions

O       Standard departments (major topics and positions within the departments are not all inclusive):

§         Accounting - all financial records

·         CFO, Accounts Receivable, Accounts Payable, Payroll, Branch Banking

§         Human resource - all employee records, training, historian, etc.

·         HR Director, HR Asst.

§         Administration - overall business operations

·         CEO, VP of Administration, Administrative Assistant

§         Sales Department - all sales activity

·         VP Sales, Sales Associates

§         Marketing/Advertising - all publications and product development

·         VP Marketing, VP Advertising, Marketing Assistant, Advertising Assistant, Research and Development

§         Information Technology - web design, on-line order form, staff tech support

8.      Product research and pricing

O       Conduct research on your company’s potential product line

§         Determine what products are to be carried

§         Research competitive pricing

§         Internet research and/or director contact with a real business

§         NOTE to Coordinator:  If you cannot find wholesale pricing on a particular product, then contact your business partner to find out industry standard markup

9.      Evaluate room resources and determine departmental layout/configuration of classroom (once hiring takes place, employees should sit in their designated departments).

10.  Research and create job descriptions.

O       See curriculum titles “Job Descriptions”

O       Research salary range for specific jobs for your geographical area

11.  Post vacancies announcements for each job (include the number of employees needed for each position)

O       Conduct an Internet search to determine what elements need to be included in a Vacancy Announcement.

12.  Have students complete a personality survey.  Discuss the differences between the 4 basic personality types and the effective communication skills when dealing with those who do not have the same personality.

O       There are various personality surveys available.  Conduct an Internet search to locate free personality surveys available online.

O       Check with your school career counselor to determine other available sources.

13.  Have students create a resume and cover letter that are specific to the VE position they are applying for.

14.  Students should complete a job application.  A generic job application can be downloaded from the Internet.  (All references must be genuine.)

15.  Have students acquire 2 letters of recommendation from adults (non-relative).  They are to be submitted with the job application, cover letter and resume.

16.  Submit resume, cover letter, job application, and letters of recommendation to the Coordinator

17.  Job Interviews -

O       Interviewers for management positions can be business partners, school administrators, school counselors, community professionals

§         VE Coordinator may or may not be a participant in the interview process

§         It is recommended that your interviewer has a vital part in determining who fills the job position

O       Managers need to interview and hire their staff

18.  Personal Finance - Students are expected to setup and maintain their own personal finance budget.

O       Students can begin researching

§         Apartment/House (financing, deposits - must be realist cost and location appropriate to job position.)  If sharing housing expense - recommend only one person per bedroom to make personal finance expenses more realistic.  NO Section 8 or subsidized housing.

§         Vehicle - type, make, model, year, financing

§         Utilities - No employees qualify for special rate reductions.  (I.e. Universal Lifeline)

§         Auto Insurance - (can be done on-line)  Have students print this out and submit as proof

·         For selected vehicle

·         Assume 18 years old

·         Use real current driving record

·         Not living with parents and not a student

§         Homeowner’s / Renter’s Insurance

§         Internet provider

§         Furnishings

§         Appliances

O       Students must provide written documentation for each personal budget expense listed above.

O       Create a personal budget.  Refer to the curriculum “Personal Finance”

§         Include all weekly and monthly budget items

·         Each teacher has the responsibility to stimulate the virtual economy and, as such, weekly budget must include from 3-5 purchases from other Virtual Enterprises

·         NOTE:  Gasoline (weekly expense)

¨       Gas usage based on 10-12K miles per year

¨       Gas mileage is based on vehicle selected city miles (miles per gallon)