Terminology
PEN Network
Non-profit civil society association of interconnected Practice Enterprises from around the world.
Worldwide network of Practice Enterprises. Includes all worldwide Practice Enterprises in schools, colleges, universities, vocational training institutions, companies and training centres.
Seat of the association for management and coordination of the network. The Coordination Center is the secretariat of the association and is responsible for the budget and accountancy of the association. The Coordination Center implements the decisions taking in the Members Meeting.
Trainee-run 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. Also known as a Practice Firm, Training Firm or Virtual Enterprise in some countries.
Educational or training institution or organization that is responsible for administering Practice Enterprise(s) established in their institution.
Commercial and regulatory services such as banking, customs and taxation, utilities and post office, etc. that are administered by a national Central Office.
PE Concept
In the Practice Enterprise environment, the trainees are the ‘employees’ and ‘managers’ of their business. They can also be called students or interns or temporary employees.
In a Practice Enterprise, trainers adopt the role of a workplace facilitator or coach. The trainer facilitates all the Practice Enterprise activities and motivates, challenges and supports the trainees.
A real-world company that acts as a mentor to a Practice Enterprise. The business mentor gives advice and ideas to the trainers and trainees about the processes and how a business is run and can provide the real-world products and services for sale within the virtual environment.
The commercial and regulatory operations within the Practice Enterprise world. A Practice Enterprise simulates all the activities of a real-world business. The Central Office simulates all the real-world macroeconomic functions within the virtual economy.
Training given by the national Central Office to new Practice Enterprise trainers and updating given to existing Practice Enterprise trainers. All Central Offices are expected to offer national trainers training.
Practical learning concept where the trainee learns by performing the actual job and related tasks.
Education and training which aims to equip trainees with the knowledge, know-how, skills and/or competences required in particular occupations. In a Practice Enterprise environment related to commerce, business and trade.
Quality system that ensures the quality and standardization of a Practice Enterprise’s activities.
A type of business or transaction that exists between companies, rather than between a company and individual consumers. A B2B Practice Enterprise sells products destined for other Practice Enterprises.
A type of business or transaction conducted directly between a company and consumers who are the end-users of its products or services. A B2C Practice Enterprise sells products destined for trainees.
Practice Enterprises are separated into physical departments where trainees work in teams undertaking the particular tasks. Departments follow the makeup of a real company and may include: Finance, Purchasing, Administration, Human Resources, Sales and Marketing.
A Practice Enterprise that operates from more than one location (trainees in different locations) or operated fully online.
Trainees from more than one country working for the same PE as one business unit, separated across borders either by departments, posts, or commercial responsibilities.
Internship
A temporary position (part- or full-time) that emphasizes skill building and on-the-job training.
A work experience program where the participant (intern) gains experience while working in a remote professional setting during some days of the week and is physically present at the job location during some days of the week.
A work experience program where the participant (intern) gains experience while working in a remote professional setting and is not physically present at the job location.
A limited period of work practice spent at a business, public body or non-profit institution by students or young people having recently completed their education, in order to gain valuable hands-on work experience ahead of taking up regular employment.
A dual education system combines internships in a company and vocational education at a vocational school in one course.
An on-the-job training opportunity, usually an essential element of learning a trade.
The purposeful integration of international and intercultural dimensions into the formal and informal curriculum for students within domestic learning environments. It offers students global perspectives within their programme of study, whether or not they spend time abroad.
The process of helping students in making adequate occupational and educational choices and in making career decisions based on the requirements and demands of the future of work. Career guidance helps students make a change from the general understanding of work and life to a more specific understanding of the practical and realistic career options that are available to them.
The processes in which new employees are integrated into the organisation. It includes activities that allow new employees to complete an initial new-hire orientation process, as well as learn about the organisation and its structure, culture, vision, mission and values.
The skills necessary to be successful in a remote and hybrid working or learning environment.
A way of thinking and acting that demonstrates acceptance of, and belonging for, all students — regardless of backgrounds, needs or abilities. It is founded on the belief that all students can learn and reach their full potential given opportunity, effective teaching and appropriate resources.
Character traits and interpersonal skills that characterise a person’s relationships with themself, with other people and with a task/job. In the workplace, soft skills are considered to be a complement to hard skills, which refer to a person’s knowledge and occupational skills.
Management methods now include coaching, participative management, quality management. An internship at a Practice Enterprise makes use of specialised management methods and enables trainees to gain knowledge of these new trends as they relate to their field of study and work.
A skill development plan is an excellent tool to conduct internship follow-ups. It contains the general objectives the trainee should attain for each tier of Practice Enterprise activity, as well as the specialised objectives determined at the start of their internship.
A Portfolio is a personal digital folder where a trainee saves evidence of work they have done during their internship. This evidence can be evaluated by the trainer and/or trainees themselves as well. The aim of the portfolio is to produce real samples of professional work by the trainee. It can also be used to show potential employers the quality of work by the trainee.
The Digital Competence Framework for Citizens (DigComp) provides a common understanding of what digital competence is. It also provides a basis for framing digital skills policy.
A common reference framework that identifies 15 competences in three key areas that describe what it means to be entrepreneurial. It offers a comprehensive description of the knowledge, skills and attitudes needed to create financial, cultural or social value for others.
The mobilisation of theoretical knowledge, practical abilities (hard skills) and personal attitudes (soft skills) with the aim of performing a work task. Competences could be classified in technical and citizenship (basic and transversal).
Evaluation is a systematic determination and assessment of a subject’s merit, worth and significance, using criteria governed by a set of standards. It can assist an organization, program, design, project or any other intervention or initiative to assess any aim, realisable concept/proposal, or any alternative, to help in decision-making; or to ascertain the degree of achievement or value in regard to the aim and objectives and results of any such action that has been completed. The primary purpose of evaluation, in addition to gaining insight into prior or existing initiatives, is to enable reflection and assist in the identification of future change
Technical
Web portal, or the main site for all connections to PEN software, databases and systems. Includes database management, directories and trade tools, marketing materials and documentation.
Software that makes itself available over the internet and uses a standardized XML messaging system. XML is used to encode all communications to a web service. For example, a Central Office software invokes the web service by sending an XML message, then waits for a corresponding XML response. The Web Serive makes the link between national software and the network database.
All of the network software applications, including the WebApp, Web Service, Windows App, Bank and Marketplace.
The common login page and related claims that associate a user to their accessible pages and modules using a single-sign-in.
An online platform for PEs to buy and sell products and services from other PEs. Trainees can login as either a customer or a merchant.
An online bank module for sending payments through the Clearing Centre from one PE to another, either nationally or internationally.
Software service that provides financial management for all network banking transactions: monitoring, control, and management of financial flows within Practice Enterprises in real time.
Software service that aacts as a financial institution that processes and settles Practice Enterprise credit card transactions, and then in turn settles those transactions with the Practice Enterprise. Practice Enterprises must maintain an account to receive credit for credit card transactions.
Software operated and maintained by a national Central Office for virtual commercial operations such as banking. Some software can be offered as software-as-a-service to third party member countries by a Central Office.
Activities
A competition between different PEs for putting the practical PE knowledge to use. Examples include social media, elevator, viral video, sales pitch, business plan competitions. A PE competition can be held live or online.
A PE trading event is any event that has the primary goal of increasing the volume of transactions between PEs. It differs from a trade fair in that there is no physical stand. A trading event can be physcial or online, including links for video conferencing, order taking and marketing. A Trading Event can be held live or online.
An exhibition of Practice Enterprises where trainees have the opportunity to exercise a variety of activities in practice, such as trade fair preparation, sales conversations and commercial processes of order processing, as well as to interact with one another on a national and international level. There are regional, national, international trade fairs held yearly in a number of member countries. Trade fairs can be held live or online.
A business-related case competition for Practice Enterprise trainees. It is an opportunity for the trainees to become familiar with issues related to doing business in the global economy and develop expertise that will be critical as they move forward in their education and careers. The GEC materials can be used on a national basis by any member and adapted to national needs. A GEC can be held live or online.
Banking
PEN Code for Practice Enterprise (PE). PE Code must be less than or equal to 13 characters. First two characters must be from country ISO code and the third as zero (0). The last 9 characters can be Letters, Digits a minus (-) or an underscore (_)
A number used to identify a bank account of a PE that follows the format of real IBANs in a country. The number is for international transactions within the PEN network.
Internationally valid bank code that consists of 11 letters and numbers. First 4 letter code is a Bank code and is usually a shortened version of that bank’s name; following by 2 letter code which is a Country code; following by 2 digit Location code that could be either 2 letters or numbers; ends with a Branch code which is an optional 3 digit code and usually marked as ‘XXX’. See BIC Code for PE/CO usage for banking.
A standard format for BIC which is used to uniquely identify banks globally. A PE Swift code should contain the name of bank’s 4 first letters, the ISO country code, the City first letter, then a 0 or 1 (0= central bank, 1 = other bank)
International payments that are made between the PEs via the PEN international payment network.
A consumption tax that is placed on a product of a PE at final sale. Used in Europe and some other countries. Also known under different names in other regions, common term for the network is VAT.
Database
An online shop where a PE sells their products and services to other PEs in the Practice Enterprise network.
Directory organized by categories of PE business activities within the PEN network. YP enables PEs to find business partners (other PEs) according to a specific business category, or by using a keyword or description and searching within the YP database.
Activity categories for PE commercial operations that are used to find buiness partners in the Yellow Pages. There are 14 Yellow Page categories .
Specific words describing PE activities and products that can be used to find business partners in the Yellow Pages.
Different social groups to which the PE methodology can be adapted. A PE methodology can be adapted to VET and university students, secondary and primary education students, adults/job seekers, people with disabilities, prisoners, etc. Target groups are used within the network for marketing purposes and for business partner searching.