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Final Report of the Expert Group - European Commission - Europa

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The adopted definition and related criteria are <strong>the</strong> following:A student company is a pedagogical tool based on practical experience by means <strong>of</strong>running a complete enterprise project, and on interaction with <strong>the</strong> external environment(i.e. <strong>the</strong> business world or <strong>the</strong> local community).Criteria to assess whe<strong>the</strong>r a programme satisfies <strong>the</strong> above definition:A. Students develop a real economic activity by running <strong>the</strong>ir own company, although in aprotected environment and for a pedagogical purpose: i.e. student companies producingand/or selling real products or services;or:B. In case <strong>of</strong> simulation <strong>of</strong> economic activity (virtual or training firms):1) Students work in team, in an enterprise project, within <strong>the</strong> organisational structure <strong>of</strong>a fictitious company, reproducing <strong>the</strong> functions, processes and objectives <strong>of</strong> a realfirm; <strong>the</strong>y are responsible for all aspects <strong>of</strong> management <strong>of</strong> <strong>the</strong> simulated firm.and 6 :2) Interaction outside <strong>the</strong> school environment is ensured: students carry out <strong>the</strong>ir tasksin contact with real firms, or under <strong>the</strong> direct supervision <strong>of</strong> business people (actingas mentors, etc.), or liaising with <strong>the</strong> local community.In this <strong>Report</strong>, <strong>the</strong> expressions “student company” and “mini-company” will be used assynonyms, meaning both companies producing and selling real products or services, andvirtual or practice firms complying to <strong>the</strong> criteria described above.6 Both conditions 1 and 2 need to be satisfied14

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