Harvard Business Review Simulation and Journal
Terry Harney
Dr. Pearcey
SNHU
IDS - 400
11/20/2022
BMC segment changes
Between-generational consistency in BMC is highly variable. The BMC undergoes radical
transformations as the firm develops and expands across new product categories. We have access
to a small pool of consumers, a narrow selection of customer subsets, a handful of distribution
channels, and all of which evolved as we did. Large-scale production and diversified offerings
replaced our previous focus on detail. These subsystems need to evolve to keep up with the
expanding business.
The effect of decisions
It's possible that the first significant change I made to the BMC was my decision to cede ownership
of the company. Sweet Honey Ventures increased the range of its products to include several food
items with honey in them. Due to this decision, my company's BMC has undergone extensive
changes; we are currently selling a new collection of things. The corporation will incur higher
expenses in creating, distributing, and developing these new products. This strategy will help us
draw in new customers and business partners. I researched the personal products sector in 2021 to
further diversify the offers of my company. The company's BMC will change considerably as a
result of the reasons outlined.
Explore your decisions
This time, I am trying to focus more on the business side and figure out how to expand the firm.
First, I thought about my own family and how I would handle the choices I would have to make.
This time, I prioritized financial success over pleasing my loved ones.
Assess your decisions
Sweet Honey Ventures, the company, did fairly well. For the interest of the company, I think I put
the right people in the right places. I looked outside of my family for advice rather than relying on
them. The business was a huge success. My relationship with my relatives was fairly neutral, and
the stockholders appeared to be happy with my decisions. I can't say that the second simulation
was more successful than the first one. In my opinion, compared to the previous simulation, the
family's long-term legacy was less significant. I place my family's needs above financial ones. I
would say that I wasn't as successful this time around in that regard.
References
Harvard Business Publishing Education. (n.d.). Family Business Simulation: Honey Heritage.
Retrieved September 26, 2021, from https://forio.com/app/harvard/family-business/#/timeline