The Concept of Practice Firm!

A practice firm is a business simulation where participants work to further develop their employment skills and gain more work experience. The program is very similar to an internship program. The business of the practice firm is the promotion of the business products or solutions of its sponsor company.

Although there is no actual transfer of goods or money, in a practice firm all the usual business activities take place: invoices are issued, financial accounts and records are maintained, budgets are planned, products are promoted, employees are virtually paid... A practice firm simulates all the administrative and commercial activities of a real company.

Each practice firm is a replica of a real company, with all its usual departments.(Sales, Marketing, Accounting, Human Resources, Information Technology.) The goal is giving participants a real business insight and awareness of current business practices.