The first time I completed the simulation I was more focused on
family involvement and how to keep the business growing but I
learned that this was not best approach for the company. In the first
simulation the company only made it to regional, this is because I
missed some of the critical decisions like diversifying products and
implementing a blue ocean mindset. a
The next couple of times that I completed the simulation I made
decisions to include more external professional and input. I also paid
more attention to external factors that affected the business. The
decision to hire an experienced COO and CEO served the company
well because they brought in new ideas, like expanding to a different
market and producing new products. in the end the company ended
up moving away from honey production, as a result the business grew
to be a multinational company.
I don’t think I would change any of the key decisions that I made
during the final simulation. I believe it was necessary to have external
professionals come in to help the company grow. As well as having a
mixed board and the decision to become a public company helped the
business acquire funds to continue growing and diversifying.
