Abstract:

The Corporate Simulation Initiative is a partnership model that is implemented in interdisciplinary projects for Business Education classes. A critical component of this practice is the student and teacher collaboration with industry experts through a simulation that requires students to construct a subsidiary company and new product line. These experts provide immediate and direct feedback to the students as they expand their understanding of the corporate structure and various roles required to successfully run a company.

Area 1: Goals:

Our school's Corporate Simulation Initiative addresses the following Core Curriculum Content Standards:

9.1 Career and Technical Education

All students will develop career awareness and planning, employability skills, and foundational knowledge necessary for success in the workplace.

• Through the process of having to learn about the different roles in the corporate setting (i.e. Finance, HR, etc.), selecting the role that best matches their skill set, and having to market themselves in a mock hiring process, students self assess their own interests and abilities.
  


• Given that this practice is used in a simulated workplace rather than a traditional business education class, students have the opportunity to evaluate multiple academic and career skills as they relate to both school and employment. Such skills include communication, time management, organization, delayed gratification, resource allocation, and action planning.
  

9.2 Consumer, Family, and Life Skills

All students will demonstrate critical life skills in order to be functional members of society.

• By running each division through a student leader, students are provided with opportunities to develop project planning and management skills with the support of both teachers and outside professionals.


• The presentations to our mock board of directors as well as the consultation meetings between each student team and their executive encourage students to communicate in a variety of settings with a diverse group of people.
  

Area 2: Activities:

Our school's Corporate Simulation Initiative is a partnership model that has been implemented in two different interdisciplinary project based courses for our Business Education classes. The objective of this practice is to enhance career education experiences by integrating partnerships into a simulation approach to learning. As a result, teachers work directly with industry to facilitate the development of a wide array of career skills such as technology management, communication, time management, and data analysis, all in a fluid, active learning environment. Both programs resulted in expanding our partnership base and numerous internship opportunities for students who impressed the executive partners during our exchange meetings.

This partnership model is innovative for three main reasons. First, it gets executives directly involved in the instructional planning and interacting with students to bridge the gap between school and the workplace. This practice raises the bar for partnerships through direct instruction in a simulated work environment. Next is the model's emphasis on developing the skills that are linked to success: adaptability, delayed gratification, influence, and the ability to receive, critique and implement suggestions. Finally, there is a clear focus on the action planning process that does not exist in the traditional classroom experience. Research, brainstorm, feedback, implementation, and reflection are all explored in an effort to develop planning skills that are universal to any arena.

A critical component of this practice is the student and teacher collaboration with industry experts through a simulation that requires students to construct a subsidiary company and new product line. These experts provide immediate and direct feedback to the students as they expand their understanding of the corporate structure and various roles required to successfully run a company.

Teams of students complete a comprehensive research initiative on a particular business division (i.e. Marketing, Finance, Human Resources, IT, Risk, and R & D), its mission, and required job skills. They then individually develop resumes and apply for a specific management position within one of the divisions. Students on the human resources team conduct an extensive screening process for all interested applicants. Based on the recommendations of the HR team, students are assigned to positions in one of the six functional business divisions.

The culmination of this research phase is a presentation to a mock board of directors composed of real executives from Time Warner, Citistreet, MetLife, and PriceWaterhouseCoopers. The goal of this exchange between students and industry partners is to gather useful feedback on their preliminary action plan for building a new product line and infrastructure for a large parent corporation. Once this initial exchange has taken place, each industry partner is paired with one of the simulated business divisions serving as a consultant to student leaders in implementing suggestions. Through a series of meetings, students, executives, and teachers prepare for a second presentation to the mock board to gain approval for a comprehensive business plan for their new subsidiary; complete with budgets, compensation plans, and market analysis. The number of volunteers and the hours they contribute to the success of these projects follows:

There is a minimum of 5 Corporate executives that volunteer a minimum of 15 hours each. This time includes a preliminary meeting with teachers to plan the project goals and objectives and meeting with students for their preliminary and final presentations. Participants act as consultants and provide feedback for final assessments of the students. On average 2 parents contribute about 5 hours each for fund raising activities to build the product prototype. The 2 class teachers contribute at least 48 hours each to prepare and deliver this course.

Area 3: Outside Resources:

The Human factor is the most significant of external resources. The established partnerships with industry leaders provide the foundation for the success of this simulation practice. Our partners are thoroughly involved in the project from conception through implementation. This practice format provides the opportunity for knowledge transfer between our partners and students that closely mirrors a real world scenario; however it is experienced in a classroom setting. A major benefit of our Corporate Simulation Initiative is that it requires a minimal amount of external financial resources. Thus, it is a practice that can be implemented in almost any school district regardless of budgetary constraints.

The most extensive of external resources is the "Online Business Toolkit". This is a free comprehensive electronic reference resource made available to the students to conduct their research. This online reference resource is a compilation of web links to articles and information related to the project topics. It is compiled by the teachers, students and industry partners. It also provides references to printed material that will support the research phase. The only requirement is a computer with Internet access.

Area 4: Evaluation:

The educational needs of the students that our Corporate Simulation addresses are twofold. First and most important are the essential skills that research shows us are connected to success in the workplace. These skills, such as influence, delayed gratification, and adaptability are so vital but yet so unreachable in the traditional classroom environment. Only through the combination of high level partnerships and a learning experience that revolves around realistic simulated workplace scenarios, can these skills be developed.

The second student need that is addressed here is the bridge between school and work that is so desperately needed. Most students not only lack the essential skills mentioned above, but are also completely unaware of how they are applied in future careers. This experience allows them to make the mistakes and take the chances needed to grow while they still have support. Through it all, they are not only growing, but also moving closer to selecting a career that's aligned to their personal talents and goals.

Students involved in a Corporate Simulation class are assessed through comprehensive and authentic methods. These projects are broken into four distinct categories for assessment that measure both the student's individual achievement as well as his or her contributions to their functional business team. Individual assessment rubrics clearly define the specific skills that will be measured to determine a students' success in meeting the practice's objectives. For example, two separate rubrics are used to comprehensively assess the two presentations to our mock board of directors. A presentation design rubric assesses requirements fulfilled, sources, mechanics, utilization of technology, oral presentation, organization, and work ethic. Whereas, a presentation content rubric identifies evidence of the students' understanding of key concepts within a business role.

In addition to the evidence collected through these authentic assessments, the feedback that we receive from our outside partners is extremely valuable. Ongoing meetings between teachers and participating executives allow us to consistently reflect and modify the instructional design.

The most significant change in the students' attitude is their overall awareness of requirements for professional success and an understanding of the internal operations of a corporation. Additionally, working in this simulated environment emphasizes the importance of effective communication skills, the interdependencies between all departments, and the need for effective collaboration between all departments for the company to achieve its goals.

Area 5: Stability:

Our Corporate Simulation Initiative is a very stable program that represents one of the Districts' best practices. The stability stems from the fact that several of our industry experts are local residents who enjoy working with their community school. Additionally, all current industry partners have expressed their enthusiasm in this practice and have given their reassurance for continued participation. Currently this is the second year that this elective is being offered to sophomores and juniors, and there was a significant increase in student demand to take this course. Additionally, several students found it so stimulating that they enrolled for a second year.

Each year the simulation practice identifies a different industry and corporate challenge to resolve. From the District's perspective, the commitment increased when the administrative liaison to the project team's teachers was promoted to the central administrative office. His presence ensured a comprehensive understanding of this course and the valued it adds to the District's course offerings. This understanding enables the practice to receive continued support and funding.

The Corporate Simulation Initiative is a very stable partnership opportunity because it is not fueled by fancy tools or large school budgets. It's the relationships between students, teachers, and our industry partners, and the resulting exchange that makes this work so effectively.

Area 6: Endorsements:

This practice has received universal support both externally from our industry partners and internally within the District. District support transcends all levels from the students, to the classroom teachers, on up to the building principal, through the district's central administration. Following are a few statements from participants:

The opportunities for involvement provided by the Coporate Partnership Initiative provide me with clear avenues to contribute my experience in the world of work to my local community school. The ability to not only work with teachers to design these activities and resources, but also see them come to fruition first-hand in the classroom, has been an extremely rewarding experience.

Steven Paraboschi, Assistant Vice President for Metlife

The Corporate Simulation Partnership Initiative has provided me with an opportunity to expand my horizons in the classroom. As a social studies teacher by trade, it is becoming increasingly challenging for me to provide all of the expertise necessary to assist students in bridging the gap between school and the workplace. Allowing me to work directly with high-level executives in the planning, instruction, and assessment of this program provides me with the tools that I need to prepare students to succeed in a corporate environment.

Richard Panicucci, Teacher and Administrator

The benefits of a corporate simulation such as the one we have at the Bergen County Academies are especially noticeable when observing the students working together. Like an actual corporation, the students, as employees, make decisions to better the company as a team. From a student's viewpoint, a corporate simulation is an extraordinary opportunity to learn. It is especially interesting because this sort of project could act as a crystal ball. Many students actively participating in such a project could go on to work in a similar corporate environment. Having prior knowledge about one's potential career is invaluable.

Senior in our Business and Finance Academy