Practice Firm

The Practice Firm offers an adult learning environment, which simulates all the administrative functions of a real business. There are currently over 5800 Practice Firms worldwide. Catalogues of products and services are marketed to other Practice Firms, which buy and sell from each other and earn virtual profits. Everything is identical to a real business, except there is no actual product or exchange of real funds.

Participants of a Practice Firm work in a simulated business environment where practical training is performed in a specialized classroom in groups according to the working places and roles:

  • company management
  • secretary’s post
  • HR department
  • accounting department
  • marketing department (purchase, sales and market communication)

Main tasks participants get acquainted with and are practically simulated are:

  • foundation of a company
  • business communication
  • secretarial operation
  • purchase
  • sale
  • turnover
  • marketing
  • financial operations
  • investment and financing
  • planning
  • organisation
  • control
  • personnel function
  • insurance
  • transport
  • liquidation of a company

In case of SELPRAF project implementation of Practice Firms for unemployed in Slovenia and Croatia means the transfer of innovation in two perspectives: firstly, Slovenian practice firm (CUPS) which already running in Vocational Education Schools in Slovenia will be adopted and implemented for unemployed in Slovenia (sectoral transfer of innovation from the field of vocational education to the field of labour market) and secondly, the implementation of practise firms will be implemented also in Croatia (geographical perspective).