2-2 Harvard Business Review Simulation and Journal

docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

400

Subject

Business

Date

Apr 3, 2024

Type

docx

Pages

Uploaded by ConstableMolePerson6010

Jonna Walker BUS 400 Driving Business Opportunity Sean Clark 2-2 Harvard Business Review Simulation and Journal Value Creation and Competitive Advantage "Golden Honey Farms” has expanded to a regional multinational scale by leveraging value and competitive advantages across four generations. Since its inception until 2050, pivotal business strategies like appointing skilled professionals to the board, attracting external investors for expansion, diversifying product lines, and implementing strong corporate governance have been key factors in the continuous prosperity of the organization. Despite some decisions carried more risk than others and were not always well-received by family members; however, the outcomes were undeniable. The company evolved from a modest family enterprise into a global corporation that consistently delivers value to its family, shareholders, and customers with its wide range of honey, gourmet foods, cosmetics, clothing, and other honey-based products. In general, "the value of ownership is significant, and investors are highly satisfied with the company's achievements." (Family Business Simulation: Honey Heritage, 2024) The journey of "Golden Honey Farms" was not without its challenges. Leaders faced resistance from family members regarding their decisions and the company's direction. Moreover, in 2020, they encountered higher production costs due to a shortage of bees, and in 2027, the company experienced a decline in sales as cheaper honey flooded in from neighboring countries. However, the company demonstrated its strength and resilience in the honey market

thanks to its capable leadership. They consistently sought guidance from business advisors and implemented their advice, making them a formidable competitor. Thought Process The simulation necessitated the viewpoint of a "Business Owner." While family relationships influenced key choices, they needed to be handled with a strong focus on progress and resilience, even if it caused some discomfort. The truth about a small enterprise evolving into a large corporation is that risks are inevitable. Avoiding risks could lead to stagnation or, worse, irrelevance. Seasoned business and financial consultants are indispensable to enterprises of all sizes and can determine the outcome between triumph and downfall. Discovery The simulation revealed that I possess a stronger determination in business affairs than I had initially believed. It is acceptable to diverge from family opinions when choices impact everyone invested in the business. Nevertheless, family welfare remained a top priority in every decision, ensuring the integrity and interests of those relying on the prosperity of "Golden Honey Farms" were not jeopardized.

References Family Business Simulation: Honey Heritage. (2024). Retrieved from Harvard Business Publishing Education: https://forio.com/app/harvard/family-business/#/timeline

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

CSIT 3600 Chapter 3 Mini Case.docx

HCA-330 Hospital Policy (2).docx

Session 5 Lessons Learned - Mar. 22 @ 10_23 pm.pdf

Tasty Treats Executive Brief.docx

Project Two.docx

eBay - Case 24 (8).docx

4-2 Harvard Business Review Simulation and Journal.docx

CH 7 Exercises 7-12, 7-20.xlsx

1-2 Blog Project Analysis.docx

Final paper (bus 621).docx

Chapter 3 Summary and Discussion Questions.docx

Chapter 6 .docx

Recommended textbooks for you

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

Understanding Management (MindTap Course List)

Management

ISBN:9781305502215

Author:Richard L. Daft, Dorothy Marcic

Publisher:Cengage Learning

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

SEE MORE TEXTBOOKS

Recommended textbooks for you

Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College