The VEI (Virtual Enterprises International) program participated in the annual Illinois VE Business Plan Competition Regional Round on Friday, December 3. The team placed in the top 6 advancing them to the final round Friday, December 10. The 1st and 2nd place team will represent Illinois at the VE National Business Plan Competition in New York City in April.
For the Business Plan Competition, the VE students prepared a business plan, which included a company description, product decision rationale, marketing plan, and financial data. This represented 20% of the final score. The Oral Competition represented 60% and the Question & Answer session represented 20%. Students presented twice to two different panel judges to determine final scores for the Regional Round. The team received feedback and will have an opportunity to make adjustments before Friday’s event.
VEI is a student-directed program in which they run a virtual business in the classroom. This is an international program and there are over 3,000 firms around the world similar to the one that can be found at Timothy Christian High School. The course is not run like a classroom; it is run like a workplace where the students are in various departments and there are chief officers. Students are responsible for making daily business decisions and running the business for one fiscal year starting with the business plan and ending with an annual report. What you see happening each day in a business is what is happening in the VEI classroom day in and day out.
Throughout the year, students have an opportunity to compete in different competitions and attend trade shows where they set-up a booth and sell their products. The course takes what they have been learning in the classroom and applies it to a real-world situation. Though there is core content that students are learning, the secondary curriculum (and one the instructor believes most important) is the development of leadership, conflict resolution, problem-solving, speaking skills and much more.
If you are interested in seeing the VEI firm in action, they would love for you to come by for a visit. Contact Mrs. Kendra Lee (email@example.com) to set-up an appointment. To learn more about the VEI program visit www.veinternational.org