Program Orientation WebinarThursday, August 1st 2013

Presented by Nick Chapmannchapman@veinternational.org

122 Amsterdam Ave. New York, NY 10023 Phone: 212-769-2710www.veinternational.org

What is Virtual Enterprises International?• VEI is an in school entrepreneurship program• Students learn business by doing business• Classes are “firms” that do business “virtually” with

other “firms” across the U.S. and internationally– Approx. 500 firms nationally and 5,000 firms internationally

The VEI approach emphasizes learning in four key areas: 1. Ownership: Students take responsibility for their own learning. 2. Experiential: Students’ learning is authentic and realistic. 3. Cooperative: Students learn with and from others and understand the dynamics of working as part of a team. 4. Reflective: Students experience the consequences of their decisions and apply that learning to future challenges.

Program Links

• www.veinternational.org– National website

• www.veinternational.org/about/– Videos & background information

• www.veinternational.org/resources/– Links to all resources for students and teachers

Where we are

Argentina

Austria

Brazil

Canad

a

Czech Rep

ublic

Finlan

d

German

yIta

ly

Luxe

mbourg

Netherl

ands

Poland

Slova

k Rep

ublicSp

ain

Switz

erlan

d0

200400600800

100012001400

VEI/Practice Firms by Country

Map of all VE schools in the United States (source: http://batchgeo.com/map/eaaa2350282d188b8208b037b8304390)

VEI Regional OfficesVEI National Office

Iris BlancNational Directoriblanc@veinternational.org

Deni FrandExternal Relationsdfrand@veinternational.org

Tyler FugazzieDigital Communicationstyler@veinternational.org

WesternNancy Phillipsnphillips@khsd.k12.ca.us

SouthChris Haffchaff@veinternational.org

Long IslandEllen Palazzoellenp@spnet.usIrv Wortmaniwortman@veinternational.org

NortheastKathy Gielowkgielow@veinternational.org

Mid-AtlanticRhonda Doakrdoak@veinternational.org

MidwestCindy Boydcboyd@veinternational.org

New York CityJohn Jastremskijjastre@schools.nyc.govNick Chapmannchapman@veinternational.org

College NetworkKristen Callahancallahak@mccc.edu

Basics of the VEI Model• What do firms “sell”?– Everything!

• Who is the Target Market?– VEI Employees (students) and other VEI Firms

• What makes it all work?– The US Network Bank links all firms in the US– Networked to all international banking systems– The online bank works exactly like your personal

online banking system• Direct deposit, automatic payments, electronic data

Products:ApparelElectronicsFoodSporting GoodsFurniture

Services:AdvertisingFinancial servicesAdventure toursApp developersLegal services

The Role of the Facilitator

• Moving from “sage on the stage” to “guide on the side”

• VEI is a student-centered approach– Emphasis on project-based, collaborative learning

• Primary responsibility to facilitate and direct student learning– NOT to deliver a prescribed daily lesson

Role of a Business Partner

• Business partners are an essential element of the VEI program– Connecting students with adults and classrooms

with the real world of business• Partners provide guidance, resources,

opportunities and advocacy

• Opportunities may include:– Site visits, job shadowing, mentoring, work samples

What does a VEI firm do?

Research

Plan

Present

Implement

Evaluate

Report

Pacing Guide

• A sequential guide to help teachers manage firm operations

• Aligned to Curriculum Tasks and available resources

• Pacing Guide will be available on the curriculum page– http://veinternational.org/curriculum/

Name of Task Reference to Curriculum Task

Available Resources

Write the firm’s Mission Statement ADMIN Task 8 Sample mission statements

Establish procedures for managing the firm’s bank account

ACCOUNTING Task 10 US Network Bank User Guide

Curriculum

• Task based curriculum• Available online• Organized by department

•Orientation•Accounting & Finance•Administration•Communications•Human Resources•Graphics•Information Technology•Purchasing•Sales & Marketing

NOTE:All Curriculum and Resources are password protected.Please contact your regional director for access.

Resources

• Website• VEI Portal• US Network Bank• Wholesale Marketplace• US and International Firm Directories• Reference Files

The VEI Classroom

The VEI Classroom

• An office instead of a classroom– Networked computer workstations– Workgroup clusters of furniture– Conference table and chairs– Telephone, Printer, Fax/Copier/Scanner– Filing cabinets– Microsoft Office Suite or suitable alternative

The Business Plan

• Every firm is required to write a comprehensive business plan– Outlining the goals and objectives of the firm

• Regions conduct local BP Competitions– Contact your regional director for details

• Winning teams qualify for the National Business Plan Competition in NYC during the Youth Business Summit– Held in April 2014

• Written and Oral Rubrics can be found on the VEI website Reference Files

E-commerce Website• All firms should have an e-commerce website– Provides information about the firm & program– Product/Service descriptions & pictures– Online shopping cart utility or ordering procedure

• Mal’s E-Commerce is very popular among VE firms (www.mals-e.com)

• There are many template-based programs for designing simple, yet effective, websites– Google Sites, Weebly, Wix, etc.

• Introducing the “Better Business Rating”– Similar to star ratings on Amazon.com– Based on ease of use, customer relations, turnaround time, etc

Trade Shows

•Contact your regional director for information on your local trade show

•Visit veinternational.org for a list of all trade shows

2014 Youth Business Summit – NYCApril 1-3, 2014

• National Business Plan Competition• Global Business Challenge• International Trade Show

veinternational.org/youth-business-summit/

The Annual Report

• Summarize and report on the firm’s operations over the Fiscal Year1. What did you say you were going to do in your Business

Plan?2. What actually happened?3. Explain the differences.• Why were you successful?• Why weren’t you successful?• What did you learn from the experience?

• Preparation of Firm Financial Statements– Income Statement– Balance Sheet– Cash Flow Statement

Assessment & Evaluation

• Pre/Post Assessments• Economics Exam• VEI Technical Assessment NOCTI– Test Code 7975

• Student & Teacher Surveys– Pre/Post

VEI and the Scientific Method

Can we make this business profitable?

Hypothesis = Sales & Expense Projections Cash Budget

The Business Plan

Implement the Business Plan website, trade shows, etc

Accounting sales journal, bank data

The Annual Report!

Learn about the industry and marketplace

The Student Experience

91% of VEI students plan to attend college next year either full- or part-time

66% of VEI students are minorities

90% of VEI students feel the program successfully prepared them to interview for a job and how to behave in a professional situation

“The opportunities here are tremendous. You find yourself, your abilities, your future and your desires solely from this one program. If only I could stock-market-style invest in it!”Jeffrey GrinbergFrancis Lewis High School, Class of 2012Binghamton University, Class of 2016

“The VE experience is different than any other class in the fact that it is not sugar coated. What you receive from the program is real, and can help you make decisions with what you want to do after school.”Kelvin VickEast Wake High School, Class of 2012University of North Carolina, Class of 2016

Questions & Answers

For more information:

Nick Chapman – NYC Program Coordinatornchapman@veinternational.org

Iris Blanc – National Directoriblanc@veinternational.org