1. With the 1st and 2nd runs, I have achieved the local business.
Here, I have given more emphasis on the family, so I kept the
company to be run and owned by the family members only.
This also keeps the family happy. Previously, I have thought
from the perspective of a company, not as a family business. I
made a decision and learned from that. Here, I learned that the
family does not always give more preference to the need of the
business. The family business needs to have accountability to
the family. In this stimulation, many of the family members
were not qualified to run, consult or work at the business. The
family business involves the family members, but all of them do
not have the authority to do anything with the business. For
this reason, I have taken a different answer the last time.
2. The family business was local in both 1st and 2nd runs. In the
2nd run, the business went to the regional multinational, which
is for the first time the business has gained international status.
However, the 1st run has been closed with the high family
relationships. As I made some changes in the business, which
are not family-oriented, the 2nd run was ended with medium
family relationships. Further, the last one was also ended as a
medium family relationship.
3. The company became larger as compared to the local business
because of the hiring of outsider people. Moreover, the
changing of the company route is the result of expanding the
business into other markets.
4. In this stimulation, the decision was made with the mind of the
family. Here, I had a feeling that whatever was best for the
business would keep the family happy. In the 2nd run, I have
taken the consideration the family though I do not want to take
it. In the last run, I did not involve the family member and took
a decision that could benefit the business.
5. The involvement of the outside professionals by Ravi was one
of the best decisions that were helpful to expanding the
company.
6. I feel that the learning from the class is helpful in processing
every stimulation differently. This has helped me to improve
the Honey Farms business each time.
