RP schools to compete in business simulation games
Saturday, September 11, 2004 ADVERTISEMENTS
Captain's Log Stardate -319696.46
--TECH NEWS--
RP schools to compete in business simulation games
Updated 08:08pm (Mla time) Sept 11, 2004
By Erwin Lemuel Oliva INQ7.net
THIRD-YEAR software engineering student Ryan Nudel of iAcademy can now be called a millionaire because he owns millions of shares of blue chip firms like the Philippine Long Distance Telephone Co., Globe Telecom and Metro Pacific.
This is true, at least, in the world of simulation games where Nudel accumulated shares after a few weeks of playing the Philippine Stock Exchange trading game.Having traded real stocks with his cousin in high school, Nudel continues to hone his skills and knowledge of the stock market through an online business simulation game developed by the Philippine Stock Exchange.
“In this online game, however, I’m more aggressive,” he said, as he showed his online portfolio.According to the PSE, the stock trading game “is an ideal method to practice investment strategies, test theories, practice day trading, learn about the various markets and compete with other players.”
Joining the game is free but only fictitious money is involved. The game, however, uses real-time prices of the PSE to make it more realistic.
Simulated business games have long been used by business schools abroad to teach students important lessons in decision-making.
The School of Economics Studies in the University of Manchester has, for instance, created a simulation game called “Synthesis” to teach its students basic principles of economics.Purdue University also used computer simulation games called “The Purdue Farm Supply Game” to teach agri-business management to undergraduate students.
Such examples have inspired local information and communications technology firms to hold similar computer business simulation tournaments for Philippine schools.
“There is a need to create awareness on the value of technology to education and entrepreneurship,” said Renato Garcia, president of the Philippine Electronic and Telecommunications Federation (Petef).
Petef, in collaboration with the Information Technology Foundation of the Philippines and the Institute of Electronics and Communication Engineers of the Philippines, have organized the country’s first virtual entrepreneurship tournament among local schools.
Called Virtual Business League, the tournament will involve schools playing Trevor Chan’s computer game called “Capitalism 2” to test their business knowledge in a simulated environment.
Capitalism 2 is game similar to Sim City. It allows players to create and control a business empire. Hence it requires in-depth strategy that covers almost every aspect of business that could be encountered in the real world.
Players will be able to test their skills in marketing, manufacturing, purchasing, importing, retailing and become a corporate chief executive officer.
Indeed, computer games are not always about killing monsters, collecting items to level-up characters, or directing an army of humans to battle aliens. It can also be about simulating a real business environment where players can be executive officers who make tough business decisions.
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