The first time I completed the simulation, my company did very well. I
focused on the company's needs to grow, create value, and obtain a
competitive advantage. The family relationships suffered, but I felt it
was essential to make decisions that would positively impact the
employees, customers, and stakeholders. My last run-through of the
simulation was very different. Although the company only reached
national, the relationships in the family were left intact, and the
shareholders were satisfied.
The most significant decision I felt that affected the company was to
move to IPO, set governance, and diversify the product line. These
decisions were not made with family in mind, and I feel it is important
to separate family and business. Although the company is a family-
owned business, it is also essential to consider those who rely on the
business to succeed. Moving to an IPO provides the funds required to
grow the company and diversify the product line. Diversifying the
product line created a new avenue of revenue, providing the
company with an alternative revenue source when the bee
population started to die off. The governance sets rules and
regulations for the company's operations, creating a solid foundation
to build trust with investors and the community.
I do not feel that I would make any changes. I felt confident in the
decision that I made. To continue to grow the company, it was
important to recognize when it was necessary to hire the right
professionals, seek outside funding, diversify the product line to
create new sources of revenue, and set governance to provide a
framework to guide the objectives of the company.
