Final report - European Commission - Europa

PRACTICE FIRM IN MERIKOSKI VOCATIONAL TRAINING CENTRENiko Finnilä, Finnish Practice Enterprises Centre – FINPEC, FinlandWhat is a Practice FirmA practice firm is a virtual company that runs like a ”real” business modelling the business procedures, products andservices of a ”real” firm. Each practice firm conducts ”real” business with other practice firms in compliance withcommercial business procedures in the practice firm’s worldwide economic environment. A practice firm is a companyset up by students/trainees with the assistance of trainers to model commercial activities.Practice Firms in Merikoski Vocational Training CentreEarlier, practice firms were used for structuring practice firm studies on existing curriculum for business studies.Change in the educational sector and the community in general requires intensifying teaching and learning, and tobring in more entrepreneurship and practice in studies; hence the approach to studies was turned around.The Merikoski Vocational Training Centre started to plan the curriculum on the basis of a business plan of a practicefirm. They managed accommodate studies and courses to supplement the structure and timing of a business plan,thus curriculum was being planned inside the business plan, not the other way round.This new approach to planning of studies allows integrating subjects in practical way and makes studying more organisedand efficient. Theory will be taken into practice immediately from theory lessons to the practice firms and businessplans. The curriculum follows the business plan during the three-year degree programme in all aspects, such asthe timing of courses, course structure, theme penetration and subject integration.BenefitsBenefits for students are e.g. integrating theory into practice, real business contacts, learning by doing, problembased learning, professional-, technological- and social skills achieved, comprehensive knowledge of business andentrepreneurship, work experience.Benefits for schools and companies are e.g. the integration of theory and practice, delivery of entrepreneurship attitude,updating teachers’ skills, co-operation with local companies, innovative and stimulating learning environment,co-operation with local schools, well trained workforce, company profile, social status, development of education,etc...54Entrepreneurship Education in Europe: Fostering Entrepreneurial Mindsets through Education and Learning