Monopoly’s Anti-Capitalist, Socialist Roots as a Teaching Game at Wharton

Monopoly board game

“A virtue of gaming that is sometimes overlooked by those seeking grander goals is its unparalleled advantages in training and educational programs. A game can easily be made fascinating enough to put over the dullest facts. To sit down and play through a game is to be convinced as by no argument, however persuasively presented.”

— A.M. Mood, RAND Corporation (1954)

Look no further than the Learning Lab for proof that games play an increasingly valuable role in the classroom and beyond, having long been recognized as a uniquely effective means of experiential education. But while, today, we harness technology and data to craft immersive, competitive simulation platforms, sometimes all you need to teach complex concepts is a board, some moveable pieces, and a pedagogical goal.

Take chess, for instance, which has been used for centuries to impart lessons of military strategy – its rules and competitive purpose create the conditions for tactical thinking and planning needed to checkmate one’s opponent.

Then there’s Monopoly, wherein the primary objective is to bankrupt everyone else through clever investment strategies. Hard to square that with lofty, Ivy-league business objectives, right? Yet, what is arguably the world’s best-selling board-based simulation of capitalism (and frequent ruiner of family game night) was once used as a teaching aid in Wharton economics classes. But before you cynically smirk at the very idea, there’s something you should know about the game’s hidden history: A century ago, Monopoly was not a platform to illustrate the merits of a laissez-faire system; rather, it was a way to demonstrate an alternative to the corporate rent-seeking that drives inequality.

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Bringing Customer Centricity to Life (and Biz Models to Black)

customercen_photo_bookIf you’ve ever sat through one of Wharton marketing professor Peter Fader’s highly engaging lectures on the merits of a customer-centric business model (or read his book on the subject), then you know how quickly he’s able to convince an audience that adopting this game-changing go-to-market strategy can trump a product-focused approach (from a profitability standpoint), and that – if done well – can create the conditions for longterm viability in the perilous, race-to-the-bottom age of commoditization that many companies are grappling with these days.

He’ll also handily disabuse any naysaying marketing execs of the notion that using data is just about collecting numbers, driving the point home that simply having a CRM system in place is not where the work ends, it’s where it begins – and leaving no doubt in their minds that if they think all customers are created equal, they have a lot to learn. Indeed, Fader is a maestro at shifting paradigms to embrace the power of data analytics for calculating customer lifetime value (CLV). But for this revolution in marketing strategy to truly take hold, theory must meet practice – and that’s where the Learning Lab comes into play.

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