The first time I ran through the simulation, I had really focused on the
family and keeping the company a regional family business that is
well-known for their high-quality and natural products. Over the
course for the three simulations, I had engaged in outside personnel
and qualified employees to come in and help advance the company
to be compliant with regulations and set up the company for financial
growth and success. I believe this was important for the company as
they were already experiencing growth.
The growth of the company remained steady each run-through as I
had consistently opted towards a mixed board, new CEO,
governance, and an IPO. The one decision that I neglected each time
and could have debatably stunted the growth was deciding to not
expand into different products that would lower the quality of the
natural honey. The company did make honey-based products, but it
didn’t limit the quality it contained. I was continually focused on
ensuring that the company wouldn’t lose their unspoken best
attribute of offering the best quality available.
In efforts to have the family in mind, I had kept the CEO in the family
until it was time to hand the company to the unqualified family
members. I couldn’t let the company be driven into the ground due to
family members not being accustomed to the CEO role. This helped
the company stay alive and financially provide for their family. I also
had sustained a mixed board of directors so that the family could still
be in leadership and have a voice in the direction of the company.
Hiring an outside CEO helped the company growth exponentially and
align their policies and procedures with the present standards.
Setting up a governance and IPO allowed for eternal funds help the
operations and allowed for investors to have an opinion. I wouldn’t
change any of my decisions as I still wanted to keep the company
somewhat in the family with the mixed board and I wanted to sustain
the high-quality products. Even though it was a tough decision to
steer the company away from the family, it was more important for
the company to continue then be driven into the ground just because
they are family.
