VIRTUAL ENTERPRISE

A Virtual Enterprises (VE) is a simulated business that is set up and run by students with the guidance of a teacher/facilitator and a business partner. This program allows students to experience, in a simulated business environment, all facets of being an employee in a firm. The Virtual Enterprise involves students in every aspect of a business, including human resources, accounting, product development, production, distribution, marketing and sales. This workplace simulation enables students to understand how employees, workgroup teams, and departments interact with each other and work together for the goal of the company.

New Dorp High School Virtual Enterprise Management team placed 2nd in the 2008 NYC Business Plan Championships 

Below is a news article taken from the Staten Island Advance  on January 8, 2007

New Dorp HS students gain national final in business competition  

V.E. Law team finishes third in citywide event behind pair of Brooklyn schools
 
Monday, January 08, 2007
By YOAV GONEN
ADVANCE STAFF WRITER
 
The revenue projections, business pitches and company operations were real. The only thing virtual about the three Staten Island high school companies that participated in the citywide National Business Plan Competition in Manhattan on Friday was the money.

A total of 14 city teams -- including Ovea Advertising Agency from Tottenville High School, and V.E. Law and V.E. Management from New Dorp High School -- sought to convince corporate professionals who were serving as judges that their companies were worth investing in during their presentations.

V.E. Law managed to finish third place overall, earning the group a spot in the national finals in late March and a chance to win $25,000 in cash and prizes. Real cash, that is.

"Everything that went into their speech comes from their business," said New Dorp principal Deirdre DeAngelis, in stressing the authenticity of the year-long double-period class that comprises the Virtual Enterprises International (VEI) program.

"They don't just rehearse a speech and decide to act it."

Fort Hamilton High School's "The Printing Depot" earned the top spot, while Edward R. Murrow High School's "Universal Promotions," placed second. Both schools are in Brooklyn.

It was the second straight top-three finish for a New Dorp High School team, as V.E. Management earned second place in last year's citywide finals.

"This has been the result of hundreds of hours of work," said Paul Presti, who coordinates the program at New Dorp.

"Most of the students that are involved in these presentations remember it as one of the best moments in their lives."

Started by the Department of Education in 1996, the VEI program lets students simulate a businesses environment by creating companies from scratch and then trading their commodities or services with peers in other cities and countries using e-commerce strategies.

The students even bill virtual hourly wages for their work -- which can run the gamut from account planner to a member of the creative team.

During their presentation, the members of Ovea touted their 38 percent market share, listed in-house advertising agencies as their biggest threat, and pointed to their 11-year history as a major asset.

"We are pretty financially stable," senior and Chief Executive Officer Zachary Katz, 17, told the Advance.

He ended the presentation -- which took place in the offices of Deloitte & Touche -- by telling the judges, "With Ovea, what you get is pure advertising."

Like most companies, V.E. Law named high turnaround as a significant obstacle, the natural by-product of a program that takes in second-semester juniors as interns, and seniors as full-time staff.

While short-lived, it's an intense 12 to 18 months, students said, even if they don't advance in the competition.

"You learn how much work goes into doing something," said Margarita Pavlova, 17, chief executive officer of V.E. Management, who cited the company's 30-page business plan as an example.

"You learn how to be a leader."