Ventures & Agencies
The Penn Hills MicroSociety has a number of different ventures which are developed, launched and operated by the students themselves.
How do the Ventures and Agencies come about?
Typically at the beginning of the school year after the constitution, bill of rights and legislature has been established and confirmed, students will be given the opportunity to propose businesses they are interested in running. Before they can launch a business, students must seek advice from their teachers and colleagues and then submit a business plan to the school’s panel of business plan reviewers. If the reviewers consider the business plan and business model to be viable, with the potential of adding value to the broader society, the student will be given permission to become a business owner. As part of the determination of business owner status, the review panel will also examine the student’s academic and character performance record, which must show growth and improvement in both areas.
How do students get their roles in MicroSociety?
Each student is responsible for creating a resume and filling out a job application. These job applications and resumes are differentiated by grade levels. All students will take their job application and resumes to the MicroSociety job fair which takes place in September and May. Business owners and managers interview their applicants and decide which students they will bring to their business or agency for employment. Acceptance letters are delivered to students who have been hired by business owners and their managers
How are the Businesses Financed?
The Eagle University MicroSociety Bank governs the supply and flow of capital throughout the society. When business owners obtain permission to launch their ventures, they are required to submit their business plans to the central bank in order to obtain a bank loan. The bank loan provides the ventures with the cash they need to obtain the materials and supplies, and to pay the employees they recruit for the business.
Who Staffs the Businesses?
Once owners obtain their bank loans, they then attend a series of professional development workshops to help them identify and understand their staffing needs. With the support of their advisers, the business managers create their list of job requirements and post their job openings in the marketplace. Bi-annually, the Penn Hills MicroSociety hosts a career and recruitment fair where prospective employees can go to meet the business managers, learn about the businesses and apply for work. Prior to the career fairs, students are given training on writing resumes and interview skills.
What Happens Next?
Once the business owners hire their staff, they then work with the business owner to establish the production processes, service methodologies, distribution channels, and pricing that will make the business work. Employees are expected to come to work each day and contribute to the value creation processes in their business. The business owners pay salaries to employees based on what they can afford given the budgets they have. On market days, the ventures present their products and services to the community in an effort to meet needs and generate revenues in return for products and services.