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Who are we?
Virtual Enterprise Australia (VEA) is a network of training businesses that students manage and operate as part of their learning programs. Each of these simulated businesses ( 'or virtual enterprises' ) follows real-world business practices and trades within a virtual economy.
Virtual Enterprises are formed from a partnership between a training provider (school, TAFE, university, private provider), a real business that agrees to mentor the students, and the VEA National Office. Each firm is tailored to suit vocational outcomes, with a strong emphasis on developing a wide range of competencies that fit within the Australian Training Frameworks and qualifications structure.
Students work as business people, operating their own business and making decisions that lead the business into profitable (or not-so-profitable) outcomes. VEA provides a safe and secure learning environment for students to work on a national basis with over 110 Australian firms and globally, with the some 5,500 international firms.
VEA is a great example of enterprise education, with students developing skills that make them highly employable. Students learn about business, but they also learn how business really works and how decisions are made. They test their skills in IT, customer relations, interpersonal relationships, negotiation, and time management. They learn to work with their business partner, who mentors and coaches them in how that industry operates.
Virtual Enterprise training differs from other business training schemes in that:
- Virtual Enterprises trade only within practice firm networks (not in the real world thus avoiding potential problems with real money)
- Virtual Enterprises are coached and mentored by real businesses on a permanent basis (students move through the firm as employees and are recruited, inducted, work and leave the business)
- students take full responsibility for their business and its outcomes (which means both students and teachers take on different roles), and
- action learning underpins all activities in theVirtual Enterprise
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