Driving Business Simulation
My choices throughout the simulation in Driving firm Opportunities caused my family firm to see noticeable changes in its standing within the industry. Comparing the company’s situation at the conclusion of the first run to that of the last run reveals significant changes. I started off putting keeping a family-oriented perspective first, which evolved to a local business focus. However, in the most recent run, I changed my viewpoint to one that was more business-focused, which led to a new strategic course. The company’s growth trajectory changed across the three run-throughs. The original focus on familial fulfilment resulted in confined expansion. Growth and strategic expansion were negatively hindered by later movements towards a more business-oriented mindset. These adjustments emphasised the fine line between valuing close family ties and achieving professional success.
The growth of the business was significantly impacted by several choices. Decisions that stressed operational effectiveness and strategic alliances paid off (Kotler et al., 2019). On the other hand, occasionally choices made simply for family reasons might have enhanced the success of the business. I understood that although having a sense of obligation might come from family relationships, this does not always translate into expertise or the best course of action in a professional setting. I would approach certain decisions differently in retrospect now that I am more aware of their repercussions. In particular, I make sure that relatives who are involved in the business are qualified and competent. Family ties are important, but they also need to ensure the company’s long-term prosperity. This insight came to me after comparing the results of focusing family harmony against taking a more career-focused strategy.
References
Kotler, P., Manrai, L. A., Lascu, D. N., & Manrai, A. K. (2019). Influence of country and company characteristics on international business decisions: A review, conceptual model, and propositions. International Business Review, 28(3), 482-498.
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