College Uses Virtual Business to Prepare Students for Global Economy.

Recent surveys of American business leaders reveal that business education is not responding to the needs of high performance business workplaces where technological change constantly alters the way business operates. In light of the U.S. Department of Commerce prediction of huge growth in international trading, business education will need to respond with training to provide the most up-to-date understanding of modern business, the ability to apply such knowledge in the workplace, and the opportunity to practice skills in a business environment. This article begins by outlining the essential skills for productive employees in the next century and then describes an innovative simulated business learning environment known as the International Business Practice Firm (IBPF). The Mercer County Community College in New Jersey electronically links with European colleges that comprise its international business trading partners. The IBPF simulates the operation of a real business using state-of-the-art technology. The program addresses four areas in the business education curriculum perceived as lacking by the business community. These are curricular relevance to business, application to technology, soft skills, and international experience.