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How Gold Rush is linked to real world?

How do various aspects of the GOLD RUSH™ game help participants to relate their learnings to the real business world?

Planning & Resource Managementicon-1 Before the start of the "expedition", each team will need to forecast the resources they need. The amount will be dependent on the route they have chosen, taking into consideration the environment factors affecting that route. This is analogous to planning a project, learning to budget for the resources needed and deciding on the approach while taking into consideration the impact of the decisions made.
Strategic Decision Making
icon-2		 The game emphasises strategic positioning as early starters have a greater chance of higher returns compared to late comers. Teams need to make strategic decisions on initial investments and their expedition route to give them maximum performance. High returns usually come with higher risks. In a competitive world, companies which reach the market early enjoy a "first-mover advantage". Strategic decisions have to be made while balancing risks and return.
Team Roles & Responsibilities
icon-3		 The game requires that various roles be assigned to members of the team. The effectiveness of each team member in his/her role will have an impact on the team's performance. Clear roles need to be established for teams to stay effective, and members of the team must play their part well and give full commitment to the responsibilities assigned to them.
Adaptation to Change
icon-4		 Teams need to quickly adapt to the changing environment conditions and "unforeseen" events and situations which will affect their plans. The pace of change in the business environment is ever increasing. Organisations that are quick to adapt to these changes are the ones with a better chance of survival and success.

Teamwork & Communications
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 Through the whole game, members of the team need to stay focused on their common objective. Open communications is critical for success. Leaders need to tap on the strengths and expertise of members to achieve the best results. Teamwork and communications have become essential elements in business growth. Teams where members learn to cooperate and complement one another are those that can weather adversities and overcome challenges in the marketplace.
 

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