Monopoly is a fun game that friends and family can enjoy whenever they have some down time and can gather to do so. The structure of the game creates many awkward situations and memories that players go on about long after each round is over.
To most casual players, it is no more than a board game that you traverse while having loads of fun. However, if those with a more business-oriented mind think about the principles that the game promote, then it begins to become clear that there are some interesting lessons learned in the game that fit well within the business world. Here are three ways in which Monopoly represents happenings in business.
Separation of Personal and Business Interactions
As stated before, the game is usually played between/among friends or family members. This implies that some relationship exists between the players. Though it may be a game, it is a simulation of the reality that personal feelings cannot be the basis upon which business decisions are made. Based on the rules, there are moments in the game that require you to charge family members at times when they are low on in-game funds, which creates a moral dilemma. Be that as it may, once a decision is ethical and necessary, what needs to be done must be done.
Similarly, you should ensure that you follow rules and have those close to you follow policies in business. When you think about ethics and transparency, policies need to be adhered to and family members or friends should not be any more exempt from them than strangers are.
It is highly unlikely that all Monopoly players enjoy similar success in a single game. In fact, as the number of players increases, the potential for success for each player decreases. This is because the assets available are finite and must be divided among whatever number of players are present. Properties in Monopoly are color coded and there are usually two or three properties that share a color. Owning all properties with a matching color increases the value of each of them. Achieving that feat relies on a random chance with diminishing odds as the player count grows.
Therefore, income potential is affected, and the available assets must be shared. This is a representation of how market share works in the business world. You can’t have the entire market in most industries and sometimes competitors have a strong presence in areas that can enhance your business. Nonetheless, all you can do is try to improve your offerings to try to increase your revenue.
Business is Unpredictable
Monopoly is a game that thrives on the element of unpredictability, however, this can be very good, or it can be a disaster for players. In the game, you can be sent to jail for no reason, lose cash, gain cash, escape jail once you possess the right item, etc.
In the real business world, while the actual events may differ, these events in monopoly are a representation of the fact that you can be doing awfully today and then you can end up doing wonderful numbers next month. This can also work in the reverse. The reasons for your increase or decrease in revenue can come out of nowhere and can even seem nonsensical, however, things happen on a whim at times and having a good business mind means being prepared to put brain cells to each such situation to arrive at a resolution.
Monopoly is a simple and fun board game; however, it is one of those that provides numerous lessons that can be applied on a larger scale in the business world.