Corporate Execs Receive a Refresher Course in Ethical Business Practices from the BizWorld Foundation.Business Editors REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--July 25, 2002 A Hands-on Program That Teaches Kids How to Start and Run a Business, the Right Way, Goes Out to Execs Who Need It Executives from WorldCom, AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner, and Enron will receive a different kind of recommendation on how to improve their business practices, not from the SEC, Federal prosecutors, or Congress, but from a non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. that teaches elementary and middle school kids about business -- good business. Today, the BizWorld Foundation sent its program kits to Bernie Ebbers, Richard Parsons This article is about the businessman. For the U.S. Representative from Ohio, see Richard C. Parsons. Richard Dean Parsons (born April 4, 1948), is the chairman of the board and chief executive officer of Time Warner. He is also on the board of directors of Citigroup. , and Enron board members, with the hope that they will put the program to good use by sharing it with their executive teams. Now more than ever, corporate America could use a refresher course in ethical business and financial practices. BizWorld kits usually go to community volunteers and teachers of 4th-8th graders, at no cost, who want to better prepare their students for a successful, ethical future. The program gives students the opportunity to experience starting and running their own friendship bracelet Friendship bracelets are special bracelets given from one friend to another as a symbol of friendship. They are handmade and usually made out of embroidery floss or thread. There are various styles and patterns, but most are based on the same simple half-hitch knot. company, in the classroom. The curriculum simulates all the steps entrepreneurs take in starting and running a business -- the right way. At the end of the program's eight hours, each company creates income statements and balance sheets to determine the company with the highest value. There are no off-shore companies in which to hide revenue, and every company has to pay their taxes. The classroom's market place doesn't allow for insider trading, either. Odds are, the likes of Ebbers and Parsons wish they would have had BizWorld in 5th grade, too. About BizWorld Foundation The BizWorld Foundation is a 501(c)(3) nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. dedicated to improve the understanding of business, entrepreneurship, and financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including[1] Australia, Japan, the United States and the UK. among youth. BizWorld provides proven, hands-on programs to elementary and middle school educators that motivate and educate students to value the understanding of business, entrepreneurship, and financial literacy as essential tools to succeed. Founded in 1997 by Silicon Valley venture capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. Tim Draper, the program has reached nearly 50,000 students in 37 states. To learn about becoming a BizWorld volunteer, introducing BizWorld to a school you know, or donating to BizWorld, visit www.bizworld.org or call 650/368-0777. |
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