The Indian Institute of Foreign Trade (IIFT), Dehli, for the second time uses Tycoon Systems' International Trade Simulation for its annual inter business school competition, Quo Vadis. Tycoon Systems, a leading developer of business simulation games, has been operating global business school competitions since 2006 .
Tycoon Systems provides business simulation games that are used in business schools and in executive education across the globe to develop business acumen.
Tycoon's simulations are all based on the IndustryMasters platform, and built by using real-world data and economic concepts. By customizing the IndustryMasters simulation platform, Tycoon is able to reproduce the business of any real-world corporation and any specific industry scenario.
IndustryMasters simulations are delivered online in both single user and multiplayer formats. Up to 100 users at different locations can participate simultaneously in an IndustryMasters multiplayer simulation. Tycoon's range of sector specific business simulations includes diverse industries such as food, electronics, automotive, telecom, banking and now international trade.
''The Indian Institute of Foreign Trade inquired if we can provide a business game that simulates the business of globally operating trading companies'', said Thomas Lehnert, Tycoon's founder and CEO. ''We then developed the International Trade Simulation, which helps people to understand the specific aspects of managing of a trading company. The simulation addresses issues of sales policy, purchasing, inventories, cash flow and the importance of reacting timely to very volatile market conditions.''
The International Trade Simulation launches today during IIFT's annual 'Quo Vadis' festival, and is the basis for an inter-business school competition they have named TACTICA, held from 13th to 15th November. TACTICA is presented by IIFT, SAIL, Tycoon Systems and KnowledgeWorking - Tycoon Systems' partner company in Australia and New Zealand.
About the Indian Institute of Foreign Trade (IIFT)
The IIFT was set up in 1963 by the Government of India to help professionalize the country's foreign trade management and increase exports by developing human resources. IIFT has undertaken research studies with organisations like WTO, World Bank, UNCTAD and the Indian Ministry of Commerce & Industry.