Design is our success--The importance of modeling a virtual enterprise
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Elisabeth Riebenbauer
Department of Business Education and Development University of Graz Michaela Stock Department of Business Education and Development University of Graz Corresponding Author: elisabeth.riebenbauer@uni-graz.at |
Abstract
Virtual Enterprise is a multidimensional teaching method based on a business simulation for learning purposes. In a Virtual Enterprise, students execute procedures similar to real-life companies in a virtual market economy. To enable that students can act according to existing business principles, teachers must design this Virtual Enterprise as an economically valid business model. This paper discusses the importance and the process of modeling and introduces several ways of designing a Virtual Enterprise for different learning objectives.
Keywords: Virtual Enterprise, multidimensional teaching, business simulation, virtual market economy
Virtual Enterprise is a multidimensional teaching method based on a business simulation for learning purposes. In a Virtual Enterprise, students execute procedures similar to real-life companies in a virtual market economy. To enable that students can act according to existing business principles, teachers must design this Virtual Enterprise as an economically valid business model. This paper discusses the importance and the process of modeling and introduces several ways of designing a Virtual Enterprise for different learning objectives.
Keywords: Virtual Enterprise, multidimensional teaching, business simulation, virtual market economy
Preferred Citation:
Riebenbauer, E. and Stock M. (2015). Design is our success--The importance of modeling a virtual enterprise. International Journal for Business Education, 155, 41 - 49.
Riebenbauer, E. and Stock M. (2015). Design is our success--The importance of modeling a virtual enterprise. International Journal for Business Education, 155, 41 - 49.
