Introduction: What is Squid Game?
Let’s accept it! We have all at least heard of, if not finished binge-watching the popular show, Squid Game. The show revolves around 456 cash-strapped adults who put their lives at stake to play children’s games in exchange for a huge cash prize. It is a thrilling game of survival that turns their life around.
With memes, reels, and posts floating on social media, the show is impossible to ignore. Squid Game fever has even spread to the professional networking site, LinkedIn, which is surprising.
YES! (not even kidding) Corporates are sharing their thoughts about different management and business lessons one can learn from the show.
What made Squid Game so successful?
The show is trending, with co-CEO Ted Sarandos claiming that there is “a very good chance it’s going to be our biggest show ever.”
But we have seen several shows where characters play deadly games, such as Battle Royale, The Hunger Games, and Westworld. The idea is not new. But what makes the Squid Game series so popular is its theme and execution. Other than that, the simplicity of the characters and games contributes to its success.
Management and Business Lessons from Squid Game
Squid Game, one of the most popular shows of 2021, also provides some valuable management and business lessons. Let us dive into those.
1) Wait for the Right Opportunity
Let’s start with one of the best teachings Hwang Dong-hyuk, a Squid Game cast member, has to offer. It took him 11 years of multiple rejections from production companies before he was hired.
It is a story that many young entrepreneurs can relate to. It can take tens if not hundreds of pitch meetings for aspiring leaders to land their first project. But if you stick long enough (learning from your mistakes and turning when you hit a snag), the funds will ultimately start rolling in.
2) Be Patient and Work Smart
Patience is a valuable characteristic for all management and business professionals. It might take some time before your dreams finally take off. You may even be dissatisfied with how long it takes to see the results of your efforts. Whenever such a thought occurs, refer to the protagonist of Squid Game – Seong Gi-hun (Player #456) for some inspiration.
His patience saves his life on multiple occasions throughout the game, but it shines brightest during the Honeycomb game. Sweating and holding the candy up to the light helps him understand that licking it is a better alternative than carving it out with the needle. While others rushed and broke their shapes, he kept his cool under extreme pressure and came up with a better solution.
He reminds us not just to work hard but also to work smartly. And emphasizes the importance of taking deliberate but dynamic action.
3) Leadership key in Management
In one of the episodes of Squid Game, contestants were given a sewing needle to carve out a shape from the candy without breaking it in the honeycomb game. It is when Seong Gi-Hun (Player #456), a Squid Game series character, discovers that licking the back of the candy helps release the shape other players start following him.
What management/ business professionals can learn here is that others will follow you only if you demonstrate your skills or lead by example.
4) Learn from Experience
One of the games in Squid Game was tug of war, wherein participants built teams of ten members. Oh Il-Nam (Player #001), the eldest player, guided his team well as he had played this game a lot as a kid. By following his advice, “All you need is a good strategy combined with good teamwork,” Seong Gi-Hun’s team was able to win the game.
Nobody wanted Player #001 to be on their team as he was the weakest of all, but it was because of his experience that they were able to clear this game. People mistake tug of war for a game of strength when in fact, it is a strategic game.
When building your team, depending on the role, it may be more beneficial to hire someone experienced. You may end up in a bad spot if your team lacks the primary factors required to achieve targets.
5) Establish trust
In business, trust works both ways. If you trust your team, they will trust you back and become more motivated to achieve goals, and this is the most important management/ business lesson one can learn.
We witness this in the tug-of-war game when Cho Sang-woo instructs his team to take steps forward instead of pulling the rope. Despite their initial concern about losing the game, they decided to trust his judgment and eventually won.
6) Be Agile
Today’s changing business environments require businesses to be flexible. To do so, management professionals must constantly experiment and adjust to meet the demands of customers.
Cho Sang-woo, a Squid Game cast member, quickly adapted in the Red light-Green light game, realizing that being behind another player keeps the motion-detecting doll from scanning him. His actions demonstrate the value of trying something new.
Bonus: There are many characters in the Squid Game episodes. Out of them, Cho Sang-woo and Seong Gi-hun are opposites. One is more calculative, and the other is an empath. When brought together, they exhibit all the traits of a strong leader.
7) The Last spot does not imply Failure
Even though the Glass game was based on luck, it conveys a valuable lesson: last place does not mean failure.
Learning from other people’s mistakes and making better-informed decisions gives you an advantage over them. People ahead of you may fail first because they were unprepared for challenges. This Squid Game episode allows you to learn management and business lessons from them and improve, making you more prepared and experienced.
8) Word-of-mouth Marketing is King
Squid Game illustrates that word-of-mouth is a key leading element in advertising and product marketing. Unlike other famous shows, it used almost little press or publicity in the U.S before its launch but still made it to the top.
Everyone heard about the show from friends and family who couldn’t stop talking about it, and even more so from the countless memes that have been flooding the news feeds on every social media app. All of which leads to one thing: it piques your interest enough to watch the show so you can understand the context and relate to the jokes being told.
The moral of the story is that the success of the show Squid Game was achieved only through word-of-mouth.
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Wrapping up
Audiences’ needs and wants are changing rapidly, and to manage a business in the 21st century a leader has to be on his/her toes all the time. You’ve probably heard it a dozen times, but now is the time to think creatively, draw some attention, and stand out! What management and business lessons did you take away from the Squid Game? Do share it with us.
In business, it won’t be life or death but you must adapt and strategize to be successful. If you want to improve your leadership skills, business understanding, and industrial knowledge, then the Executive Post Graduate Program in Management is the right choice for you. To learn more about the program, head towards the program’s page.
