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Reference.org
Practice firm
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<p>A Practice Enterprise (also known as a Practice Firm1 or Virtual Enterprise2) is a practice company that runs like a real business silhouetting a real enterprise's business procedures, products and services. A Practice Enterprise resembles a real company in its form, organization and function. Each Practice Enterprise trades with other Practice Enterprises, following standard commercial business procedures in the Practice Enterprise worldwide economic environment. It offers a ‘learning-by-doing’ training programme with the aim to better prepare young people for their future careers and to increase their entrepreneurship potential through running their own Practice Enterprise. </p>