what is ltf
TRANSCRIPT
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.