In the first run of the simulation, I scored a medium and had a regional
business and a medium in the family segment. By the last run of the
simulation, I had gotten high scores and became an international global
business. Throughout the three run-throughs, the company's growth continued
to expand and become successful.
Over the generations of this family business simulation, the BMC segments
had to change to adapt to the changing market. Specifically, a few of the
segments that had the most changes were key partnerships, customer
segments, and revenue streams. One of the decisions made with the family in
mind was to relinquish power to the oldest son. However, other decisions were
not made based on the family because most of the time, the family wanted to
hold onto all the power, and the company would not succeed without
diversification. The decisions that ultimately led to the business's success were
diversification into personal products and then finally moving into the new
cosmetics division. One of the areas that could have made the business more
successful was its CSR initiatives. Some areas that the company could have
improved was as it grew, they could have increased that 5% to 8 or 10% for
charities. Additionally, launching an initiative to help save the bees could have
significantly improved their CSR proposals.
