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CUNY Institute for Virtual Enterprise

One Bernard Baruch Way (55 Lexington Ave. Suit 2-140).
New York, NY 10010

P: 646-312-4790
F: 646-312-4781
ive@baruch.cuny.edu


Virtual Enterprise

What is VE?

:: News & Events :: Introduction :: Overview :: VE World History :: VE at CUNY History ::
:: Learning Outcomes :: Student Workbook :: Evaluation of Virtual Enterprise ::
:: Summer 2014 Faculty Development Seminar ::

Where is VE?

:: IVE Global Collaborative :: Partner VEs ::

Overview

Virtual Enterprise is a program of study which requires students to learn and apply concepts of business through a reality-based simulation of an actual business. In the same way that commercial airline pilots are trained in a flight simulator, Virtual Enterprise ("VE") students use a model of business reality in order to learn the necessary skills to be successful in the current knowledge and office based economy. Within these business models tomorrow’s employees learn to make decisions and then see the impact on the enterprise as well as a virtual economy of other simulated businesses. The VE course of study allows for practical application of the concepts of business process, entrepreneurship, risk management and teamwork. The applications for this program go beyond the tourism and business curriculums, as successful VE programs have been established in technology, engineering and the sciences.

The Institute for Virtual Enterprise ("IVE") at CUNY  provides the strategic umbrella for developing and educating tomorrow’s employees. The IVE is charged with setting the program’s learning and assessment policies, while the individual CUNY colleges are responsible for delivering lessons and plans. In essence, the IVE governing system provides three key roles:

I. Identifying and prioritizing current and future learning needs

IVE and its advisors will need to determine the learning needs which will support the strategies of the Virtual Enterprise program and those of the individual private sector partners. IVE will constantly evaluate the new skills necessary for our students to participate in overall "real-world" business expansion.

II. Linking training to these key business strategies

IVE will determine how to link the training to the strategies as well as priorities for investment of resources.

III. Ensuring consistent design, development, delivery, and measurement

IVE will first determine the procedures, processes, and standards for training as well as the best solutions to cost effectively design, develop, and deliver the learning programs.

A quick examination of the education market indicates considerable change over the last decade. The traditional 18 to 24-year-old full-time undergraduate and graduate student, long the primary focus of four-year colleges and universities, no longer represents an overwhelming majority of the education market. According to the US Department of Education 1998 statistical release, twenty years ago this population accounted for 80 percent of the market. Today, however, traditional full and part-time students represent only 56 percent of the population pursuing higher education. The future belongs to the nontraditional working student now estimated to be 44 percent of the education market.

Together with these changes in the population are several other important trends: the rise of the nontraditional student as a consumer of education; the rapid advancement of technology; the need for lifelong learning; and the increase in experimentation with distance learning. Students as consumers of education are seeking the same level of customer service from their educational providers as they have become accustomed to from their retailers and financial service providers. These consumers are looking for convenience, self-service, and quality that can help them advance in their careers. These trends are clearly beneficial to the Virtual Enterprise programs.

The IVE views its marketplace as one which has three sets of customers: general education customers, workforce retraining and development customers, and contract learning customers. The general education customers are those at CUNY member institutions, as well as partner institutions and networks within the U.S. and abroad. The workforce development customers are those private sector customers seeking structured "school-to-career" management, and government sponsored students in "welfare to work" programs. The contract learning customers are private sector customers seeking pre-employment training, team building, and entrepreneurial training for junior officers.

  





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