During the summer
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I am incorporating World of Warcraft into Camp Ling 2008. Imagine my delight when I came across:

Everything I Know About Business I Learned from World of Warcraft

to wit:

… Well, not really… reading good books and personal experience has certainly taught me most of what I know about business, but it’s amazing what you can learn about the fine art of money-making from a game.

To me, one of the most fascinating aspects of massively-multiplayer online games like World of Warcraft, Eve Online, and Lord of the Rings Online is the in-game economy. These games have millions of players, and it’s amazing to watch the economy that emerges as they interact with each other.

…As in real-world economies, MMORPG players buy, sell, and trade goods and services in ways that emulate real world economics. Crafters create items like weapons and armor; enchanters offer services to improve items; adventurers put their wares up for sale in the auction house. If you observe carefully, you can learn a lot about real-life business from watching virtual economies in action.

Here are 11 real-life business concepts you can learn from playing an MMORPG like World of Warcraft ….MORE….

The lessons you’ll learn include:

• The Value Chain
• Product Pricing
• The Law of Supply and Demand
• Price vs. Value
• The Power of Wholesale
• Arbitrage
• Marketing & Sales
• Seasonality
• Frictional Costs
• Specialization Pays
• Achieving Goals

Enjoy!

Owlbert

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