American Economics 101: Local Students Attend Pennsylvania Free Enterprise Week
Range’s Christina Kramer & Sherry Paulhamus with PFEW students at Lycoming College
Canon-McMillan High School students Sarah Stanek & Jazmin Gruda attend PFEW after receiving scholarships from Range Resources
The post-millennial generation, born between 1996 and 2010 and known as “Generation Z”, is getting ready to join the American workforce. Also referred to as Centennials, the iGeneration and Plurals, these young people are said to be a “do-it-yourself” group that seeks mentorship along with honesty and transparency in the workplace.
In Pennsylvania, hundreds of these “Centennials” are finding mentorship and learning how businesses operate by taking part in a summer program known as “Pennsylvania Free Enterprise Week” (PFEW). It’s not new – PFEW has been in place for 39 years and while the world has changed, their mission has remained the same: educating and preparing high school students for post-graduation experiences and jobs in the American business world.
Students come to PFEW from more than 1,000 high schools throughout Pennsylvania. They are able to attend the program thanks to scholarships contributed by over 800 businesses, foundations, and civic organizations across the state.
“We teach young people to first of all understand, and then to appreciate, American free market economics,” says PFEW’S Vice President of Marketing, Scott Lee. “We want them to appreciate how our economy and its health affects them no matter what career path they may follow. Pennsylvania is one of only 14 states that doesn’t require any economics education in order to graduate from high school. We aim to bridge that gap.”
Marcellus Shale driller Range Resources is a long-time supporter of PFEW. “We fund scholarships for students who live in Washington County, our primary area of operations here in southwestern Pennsylvania,” says Range’s Christina Kramer. Since 2010, Range Resources has donated close to $100,000 for PFEW scholarships, making it possible for hundreds of students from Washington County to attend the program. “Preparing our region’s future workforce is very important to us, and helping young people to understand how a successful business is run can really set students apart as they get ready to begin their careers.”
Each summer, week-long sessions are held on two different Pennsylvania campuses: Lycoming College and the Pennsylvania College of Technology (an affiliate of Penn State University), both located in Williamsport, PA. Students attend for one full week, staying overnight in college dormitories, and immersing themselves in business culture with their assigned teammates throughout the day. College scholarships are also available: any graduate of PFEW can receive up to $20,000 from Lycoming College and up to $8,000 from Penn College of Technology.
Organizers make sure participants hit the ground running. “It’s our goal to make sure that before their first day is over, the students will have become members of management teams for “companies” that will determine selling prices, marketing costs, budgets for production, research and development, capital expenditures, inflation factors, financing and stock offerings,” says Lee. At the end of the week, student companies compete and are judged in the areas of Management Skill, Return on Net Assets, a Marketing and Advertising campaign, and a Stockholders’ Presentation.
Canon-MacMillan rising senior Sarah Stanek was one of the Range Resources scholarship recipients who attended PFEW this summer. “I am so thankful to Range Resources for making this possible. It was amazing. I loved it and I learned so much about how to run an actual business. We dealt with real-life situations – like recessions, and the current economy. And we were in charge of our project – our advisor didn’t make any decisions for us!” Each student team is assigned an adult advisor, volunteers for those positions include Washington County business owners who travel to Willamsport to take part.
Sarah served as the Chief Marketing Officer for her group as they developed and marketed a special skateboard for teens. “It was such a great experience, we were totally independent, and I got to learn about something I love to do.” Already looking ahead to a career in business after high school graduation, Sarah plans to attend the University of Valley Forge outside of Philadelphia, where she will double major in Accounting and General Administration.
Range’s Kramer was recently able to see first-hand how the students’ projects come together, as she traveled to Lycoming College to serve as a judge in the Advertising and Marketing competition. “The students worked so hard, and came up with really creative ideas and solutions. I’ve always been glad that Range Resources supports PFEW, but meeting so many of the young people in person and seeing how hard they worked on their team projects really drove it home for me,” says Kramer. “It’s a great learning experience, the kids are so appreciative, and we are gratified to be part of this effort and to make sure students from Washington County can take advantage of this unique opportunity.”
PFEW President and CEO John Trombetta points to corporate backing as critical to the success of his organization’s efforts. “Range Resources’ support of students who live in Washington County and who want to take part in our unique educational programming is nothing short of extraordinary. Every year, scores of young people have their lives transformed forever because of the company’s generosity and commitment to our communities. When it comes to ‘giving back’, Range truly walks the walk.”
This article is written and sponsored by Range Resources.