The Virtual Enterprise:

The typical VE company is comprised of five departments:

 

• Administration, 
• Accounting/Finance, 
• Marketing, 
• Sales/Purchasing, 
• and Human Resources. 

The company has a Chief Executive Officer (CEO), a Chief Financial Officer (CFO), and vice-presidents that head each department.

 

Students actively participate in the proceedings of their respective departments and directly contact other practice firms to do business. In this process, students learn in a way that allows them to improve their ability to handle information, to make decisions,to work in groups and independently, to set up objectives, and to evaluate—in other words—to be life-long learners. 

The work is task-oriented. Where possible, students rotate jobs and perform tasks in all departments. In the VE company, errors in judgment do not bear disastrous consequences.Instead, they become teaching and learning opportunities.

In a Virtual Enterprise, real goods are not actually produced or exchanged nor is actual currency used. (There are, however, some enterprises that do produce a real product). The transfer of “virtual funds” is made electronically through a Web-based simulated banking system that links all U.S. firms with the rest of the world.Business partners play a major role in the VEI program. They directly assist and mentor VEI students, schedule student visits to their businesses/corporations, help students design trade fair booths, and often provide scholarships.

Below is a List of Participants:

 Union Bank