what is ltf

A bridge between technology and business

The Training Firm

What is a training firm?

o A training firm is a place for learning business by simulating real life enterprise with different departments (supply, sales, marketing, accounting, personnel).

o A Learning Training Firm is a constituent part of the economic education for young people.

o The aim of the learning process is to acquire business culture based on interdisciplinary-oriented and problem-oriented approach.

o The teacher-trainer is a moderator, colleague, manager of the firm, educator and assessor.

o The student-trainees activity cooperate in the process, acquiring abilities for personal responsibility and self-government.

Part of Business Plan

Fixed Expenses

Insurance

Rent

Stationary

Other Expenses

Marketing and

Advertising

Bank Services

Salary (payment)

Depreciation and Amortization costs

External Services(phone, fax)

International Plovdiv Fair

Preparing the stand

Participants

Criteria determining the differences

Virtual training firm Real life firm

Business activityGoods and services are simulated but entrepreneurial decisions are

taken as in real life

All possible business activities, goods and

services

Cash flow No real cash flow Cash flow

Entrepreneurial risk Entrepreneurial risk lacks Entrepreneurial risk exists

External contactsPredominantly with other Learning

Training FirmsEconomic area

All variety of tasks and activities

Expansion of tasks during the learning process

Absolute necessity of implementing all tasks

and activities

StructureRotation of position within the firm as a basic element in the learning

process

Rotation of position within the firm as personnel’s improvement in modern

and successful enterprises

Choice of branch and product

Teacher – student – LTF - market Market - entrepreneur

Working hours 2- 3 hours a week Regular working hours

Training Centre

Key competences•willingness to make new contacts •language competence•independent actions•adaptive behavior •confidence •team work skills•ability to make decisions•responsibility•empathy•diligence and efficiency•organizational skills

The aim of teaching is not effective knowledge, but the ability of trainees to estimate the economic situation, to

develop and put into practice creative decisions.