The virtual company concept is an innovative business program, focused on activity-based learning. This training program provides participants with real business experience and supports them to develop personal qualities and attitudes such as leadership, decision-making, problem solving and communication skills in a group environment working towards a positive outcome.
A virtual company is a simulated enterprise that is set up and run by its participants with support from an educator (facilitator) and a real company (business partner). Virtual Companies conduct business with other virtual companies in a simulated market economy on a local, national or international basis. The virtual company educates all company employees with every aspect of business operations including marketing research, advertising, trade, payment systems, tax payments, lease contracts and the effective utilization of banks. It will also help with the original drafting of the business plan and check on the subsequent process once it is implemented.
The virtual company not only provides the business and IT skills that are necessary as a member of the work force, but also supportsawareness of the importance of self-leaning and an understanding of international business and culture.