Abstract
This paper describes the innovative generic business process set (GBPS) model and how this may be used as a functional template for small‐ and medium‐sized enterprises (SMEs) participating in a virtual enterprise. The authors provide specific emphasis on the use of information communication and technology (ICT) in business applications and show how the model can be used as a medium for lifelong learning and workforce development. The SME business model introduced identifies and describes 52 validated specific business processes, the GBPS. A framework and methodology for the application of the model in entrepreneurial firms are provided. Emerging ICT applications are also an integral part of business operations. Using the GBPS, the identification of training needs is directly related to the activities of the business. This approach overcomes the problem, inherent in SMEs and owner‐managed businesses, of a reluctance to endorse training because it is not clearly relevant to entrepreneurial business operations. The same model can be used as a gateway into an e‐learning programme designed for the virtual business environment via a low overhead and easy to implement process.