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ONE of
the nation’s premier non-sectarian universities has
relaunched a business simulation competition called
Virtual Business League, or VBL, to promote the ideals
of entrepreneurship and teach students business tenets
that are applicable to today’s business environment.
FEATI University,
a staunch supporter and implementer of technological
advancements in the academe, through its information
technology department and College of Business, will
spearhead efforts in organizing and promoting VBL among
interested students. It will also host this year’s
competition.
Dean
Eric Villegas of the
College of
Business,
who is also a professor at the university, said the VBL
is very timely and exciting, as it employs the
principles and practices of entrepreneurship that helps
develop technology-oriented and self-sufficiency among
future businessmen in the midst of a technology-enhanced
business environment.
“Aside
from simulating enterprise management in a virtual
setting, staged in a competitive yet educational
environment, and practicing students’ entrepreneurial
skills, VBL will also allow the nurturing of actual
business ventures and help mold future global business
players, who will directly contribute to the creation of
employment opportunities,” Villegas said during the
launch.
Villegas
said players will be using a business simulation game
called “Capitalism 2,” where players, called “business
warriors,” will conceptualize, build, set up and acquire
their own technologies and companies in the course of
the game.
The
popular board game Monopoly was all about simple
business precepts, like taking care of investments,
buying and selling. Players of the game learn how to do
business using paper money and miniscule plastic pieces
resembling houses. Villegas explained that players of
Capitalism 2 will learn how to outsource, manufacture
and conduct research, pricing, marketing, branding,
advertising and retailing or selling—all at the click of
their fingers.
In the
game, competitors are given a seed capital to build
companies within a virtual community. The financial
results of all business decisions, investments, supply
and demand, inventories, marketing promotions,
advertising costs, selling price and other aspects of a
business are revealed in real-time. |
