Vilnius University. Education and Business
After spending time and practicing business skills in virtual economy, students had an opportunity to meet the representatives from famous business brands in Lithuania. The event was held in Vilnius University together with the HR, Marketing, and Business development specialists from four business companies. These specialists played the role of inverstors and business angels.
Students were asked to present their business cases together with their knowledge, insights and challenges they have faced. Virtual and practical experience was shared, recomendations given and virtual investments made. Business representatives from HR were impressed by high performing virtual companies and their owners. It was discussed that the activity of leading companies in virtual economy will be monitored in order for real business to make the investments and to keep developing the future specialists.
Everything started at the end of February, Virtonomics.com was introduced to students at Vilnius University as a part of Quality Management course. Students had a chance to use the platform for educational purposes. Due to gamification processes, students were able to test their knowledge and skills in virtual economy.
The purpose of the game is to create a profitable and competitive business - each player receives a starting capital, which can be used to develop the virtual company according to their own unique scenario. Players choose their own business goals, strategies and tactics. As in real life, individuals are able to venture into Retail, High Tech, Manufacturing, Agriculture, Medicine, etc. All actions during gameplay are performed by real people. Players are creating and developing businesses, becoming partners, trading, purchasing and selling enterprises.
When any problem was encountered, students were couched by Dr. Dalius Serafinas, an associate professor at Faculty of Economy, Vilnius University and Minvydas Latauskas, Marketing Manager of Virtonomics.