"Virtual Enterprises" is a group activity, which will give the students the opportunity to create their own business and understand the operation steps. The "Virtual Enterprise" program will be implemented in cooperation with volunteers / Counselors of Junior Achievement - Young Enterprise who will advise and guide the student group through their own professional experience and knowledge. The Junior Achievement - Young Enterprise organization's programs have been acknowledged by the European Commission's Enterprise Bureau as "Best Practice in education for entrepreneurship", according to the president of the European Commission, Mr E. Baroso.

1. VIRTUAL ENTERPRISES
A. Description of Action
The program 'Virtual Enterprises' has as a primary aim the implementation of "Economy -
Entrepreneurship" in practice, aiming at students coming in contact with the professional
field and the production - business process.
In particular, students in groups (of 6 - 7) will establish 12 Virtual Enterprises. Three of the
enterprise will be active in the primary sector of production, five in the secondary and the
remaining four in the tertiary sector.
"Virtual Enterprises" is a group activity, which will give the students the opportunity to
create their own business and understand the operation steps. The "Virtual Enterprise"
program will be implemented in cooperation with volunteers / Counselors of Junior
Achievement - Young Enterprise who will advise and guide the student group through their
own professional experience and knowledge. The Junior Achievement - Young Enterprise
organization's programs have been acknowledged by the European Commission's Enterprise
Bureau as "Best Practice in education for entrepreneurship", according to the president of
the European Commission, Mr E. Baroso.
At the same time, students will visit firms and will contact business executives in order to
become partakers of the executives’ professional experience. During the visits, members of
the company will analyze to the students the company structure and the different sections
in it, how they work and the role of each one in the products or services business provision.
A short tour of the premises will follow and the visit will conclude with discussion where
students will formulate any questions or concerns.
Each visit will normally take 2-3 hours. Company executives will present their personal
experiences from the world of business and will also refer to their studies in order to help
students in their career choices. The program will therefore help students explore career
opportunities while assessing skills and competencies needed to meet the labor market.
Throughout the program, students will gain real experience of the business world: they will
set up their own business, will allocate roles and responsibilities, will draw up a business
plan and take on responsibility for the progress of the business. They will also develop skills
necessary for their future personal career and success. They will understand the meaning of
self-employment, will take initiatives and learn to deal with adversities in business with the
help of volunteers - counselors.
B. Aims
The expected general aims for students are summarized as follows:
 To understand the important role of business in society (increase in employment,
self-employment).
 To understand the distinction of enterprises according to their legal status, their
ownership, type of activity and size.
 To discover and develop their latent entrepreneurial skills which can help to expand
their professional development options.

2.  To understand what a business plan is.
 To become aware of the fact that programming and design of an enterprise's
operations is a prerequisite for achieving goals.
C. Specific aims
The expected specific aims are summarized as follows:
 To conduct market research.
 To work in teams to build their business.
 To produce their own product or service.
 To advertise and launch the product or service.
 To make commercial transactions.
 To successfully manage the finances of the company.
 To compete with other teams in trade fairs and entrepreneurship competitions in
Greece and in other European countries.
D. Procedure of action implementation
1st phase
Group forming, aim setting and mode of action, identification of the virtual enterprise, the
industry in which it will operate and the products that it will provide in cooperation with
business executives and the Young Entrepreneurs Association to support business activity.
2nd phase
Division of labor based on the particular abilities and interests of students. Specifically,
students will compile CVs and will give interviews for the selection of the General Director
and the Directors of the individual departments of the virtual enterprise, by choosing
together the persons for various positions. In this way, the organizational structure of the
enterprise will be formed and its individual departments will be staffed.
3rd phase
Creating the virtual enterprise (legal form of identification, drafting of statutes, identification
of funding sources).
4th phase
Operation of virtual enterprise in the form of Board meetings and creation of a business plan
(business description, description and product development, sales & marketing, market
analysis, human resource management, financial analysis, evaluation of investment plans,
etc.).
5th phase
Hardware processing and presentation of the final products of the project - Dissemination of
the final outcomes - Evaluation.
The project implementation stages are outlined in the following figure "Virtual
Enterprises".

3. E. Expected outcomes
The outcomes that we seek through this program are as follows:
 Awareness of the usability of a business plan as an entrepreneurial tool.
 Implementation of the "business plan" of the enterprise, based on the
enterprise conception of its students-members.
 Understanding of running a business.
 Understanding of the interrelation between business planning and business
sustainability.
In addition, through the operation of the Virtual Enterprise, students will gain:
 Creative thinking and problem solving.
 Communication skills.
 Ability to work in teams and take on leadership roles.
 Ability to negotiate and make decisions.
 Organizational skills.
 Responsibility and risk taking.
The basic principles that the Virtual Enterprise program seeks to promote are
presented in the figure below.
Εstablishment of virtual enterprise and cooperation with
consultants business executives
Survey conduct of customer needs
Making a business plan.
Allocation of responsibilities and roles
Product or service production - promoting / selling to
customers.
Financial review of the operation of the business
Dissemination of final outcomes - Assessment

4. Social
awareness
Determination
Professional
Ethics
Strategics
Flexibility
Discretion
Innovation
Cooperation -
Team Spirit
Responsibility
Οrganisation