Education for Entrepreneurship
| Jane Godwin Coury - 01 Jul 2021

A training company is a virtual company of a group of students that helps them create and develop entrepreneurial competencies based on principles taken from the business of real companies. This training company does business in the virtual market with other training companies. The Training Company course contains elements of gamification. Students operate in virtual markets without real entrepreneurial risk. They are free to make decisions without fear of failure. In this way, students accumulate knowledge based on their own positive or negative experiences. In the trainee model, students take on a variety of roles within their own Virtual enterprise: head of sales, marketing, and procurement must bring decisions related to their current functions.
  The first step for students is to choose an idea of what they want to produce or what service they want to provide, and the methods for finding ideas are different (brainstorming, brainwriting). After selecting the idea, we come to the establishment of a training company (a limited liability company is established by articles of association if it is more than one natural or legal person or a statement of the establishment if it is one person). Students create the organizational structure of the training company by departments: management, administration, procurement with warehousing, finance and accounting, production, and sales and marketing. After the distribution by departments, we come to the part related to employment. It is necessary to determine the plan and job description, make a competition for the required jobs, write applications, CV, interview, and finally select candidates and hire workers. Students apply written business communication, do a SWOT analysis, determine vision, mission and trademark, and goals. They create a business plan as a business document. They make promotional materials such as greeting cards, business cards, flyers, catalogs, brochures, posters, calendars, invitations, prize games, promotional films. The tasks of the finance and accounting department are: compiling the opening balance sheet, calculations and posting of procurement, sales, production, salaries, and so on.

Browse By Tags

Copyright © 2016. Jagat Media Solutions | All Rights Reserved