Introduction
Virtual Enterprises International is an education-focused nonprofit that transforms students through authentic business experience to prepare them for fulfilling, financially secure futures. By working closely with schools and industry professionals, Virtual Enterprises provides hands-on, task-based curricula that provides students with an in-class internship experience. Virtual Enterprises’ curricula enables students to develop in-demand skills sought by leading universities and employers, preparing them to serve as leaders in the rapidly evolving economy.
Virtual Enterprises International’s mission to transform students through authentic business experiences was a perfect fit for my interests and history working in education and business. It was a pleasure to work closely with Virtual Enterprises’ leadership and board to help shape their strategic growth path. I have enjoyed staying in contact with Virtual Enterprises’ CEO and seeing them execute on the growth plan and take advantage of new opportunities to better serve more studentsEdwin Anderson, Partner
Scope
Oliver Wyman was engaged to support Virtual Enterprises in developing a growth strategy and target operating model. Virtual Enterprises has served over 140,000 students since their founding in 1996, and their growth to date has been largely organic. Oliver Wyman supported Virtual Enterprises in developing a strategic growth strategy to further increase the schools and students served while maintaining financial stability. To kick off the project, the Oliver Wyman team conducted a current state assessment by engaging internal stakeholders, volunteers, schools, board members, and competitors to assess Virtual Enterprises’ strengths, challenges, and positioning in the broader peer landscape.
Working with Virtual Enterprises was my most rewarding experience at Oliver Wyman so far. It’s a special feeling knowing that our work is helping Virtual Enterprises to provide more students around the country with a business education that will have a lasting impact on their livesAlex Ferreira, Consultant
In the second phase of the project, the team leveraged insights generated in the current state assessment to identify opportunities for future growth. Specifically, the Oliver Wyman and Virtual Enterprises teams collaborated to identify and assess seven potential growth levers and worked closely with members of the organization and board to identify the best path forward. The team ultimately aligned on a specific growth strategy, which encompassed optimizing the current state and prioritizing targeted geographic expansion for Virtual Enterprises’ core program. In the final phase, the team worked with Virtual Enterprises to design a target operating model and roadmap to support the strategy.
VE has a strong, direct impact on students and schools. It was an honor to work with Virtual Enterprises’ leadership to develop a growth strategy for the organization. The work was energizing and rewarding, and I’m looking forward to seeing how Virtual Enterprises expands and evolves in the coming years to help more students realize their full potentialCara Brewer, Alumna
Impact
The project provided the client with key insights regarding strengths that can be leveraged for growth, opportunities to streamline current operations, as well as a clear and realistic strategy to increase the number of schools and students served. Based on the growth strategy designed by the Oliver Wyman and Virtual Enterprise teams, Virtual Enterprise is estimated to significantly increase their growth rate by 2025, with the ultimate impact of empowering more students to own their futures.
It was an absolute pleasure to work with such a dynamic and committed team at Oliver Wyman. Throughout the entire engagement, the Oliver Wyman team was thoughtful, insightful, and responsive to our needs as an organization while helping to guide us in the development of a plan to impact thousands of more students. From our board of directors to our executive team to our front-line staff, everyone throughout our organization came away impressed by the outcome of this project and inspired to implement the planNick Chapman, President