For well over a century, the board game Monopoly has been played by friends all over the world, providing a great source of entertainment, whilst also provoking a fair share of light-hearted (ish) disputes between loved ones. Regardless of whether you love it or loathe it, due to its huge popularity and innovative format, Monopoly holds cultural significance in the United Kingdom and continues to be regularly played. Furthermore, in a world of technological devices and virtual reality, Monopoly has done much to help the board game genre remain cool and relevant in the contemporary age.
The same winning formula, with different variations
Monopoly has evolved over the years, with alternative versions to the original game. Whether it’s football clubs or films, cities or seasons, the game has been re-calibrated to accommodate a variety of themes and concepts, without sacrificing Monopoly’s core rules and principles. The game can now be enjoyed online, with stakeholders across a number of digital entertainment sectors using Monopoly as a source of inspiration for its products. Monopoly is frequently used in the casino industry, as the game offers a fun and engaging format on which to base casino games. Live MONOPOLY at Paddy Power is a perfect illustration of this, as it enhances the traditional game of bingo with a range of monopoly-related features.
Does Monopoly offer us something other than just entertainment?
Aside from being an immensely popular board game, Monopoly is also a great tool for aspirational investors. Although admittedly in a hypothetical capacity, playing Monopoly ultimately teaches us how to manage our money, make shrewd investments, and, dare I say it, respect our fellow competitors – are these not great lessons for anyone entering the business world? We briefly take a look at some of the key ways Monopoly can help you make sound commercial decisions.
Adaptability
When deciding whether to invest in a property or a product, you should always weigh up the costs versus the potential return on investment. In Monopoly terms, this could be the equivalent of buying a hotel on Marlborough Street (‘orange’ section), as opposed to sinking all of your wealth into a property on Park Lane (‘blue’ section).
If a particular strategy isn’t working, you must ensure you’re in a position to quickly adapt, and embrace an alternative approach. Your ability to remain flexible to market conditions is vital in business – as it is in the game of Monopoly!
Stay calm
Whether you’re up against your friends or colleagues whilst playing a board game or trying to beat a market rival, you should always try to remain calm and composed throughout. This will enable you to make controlled, considered decisions, as opposed to rushing your actions and missing critical details.
So, next time you play Monopoly, remember that you’re learning more than just how to beat your immediate opponent!