In Family Business Simulation: Honey Heritage students navigate the complexities of running a generations-long family business.
In this 30-minute, single-player simulation students learn how to navigate the complexities of running a family owned business from its inception through 80 years. Students are tasked with building and growing a sustainable honey business as it's passed down from generation to generation. Based on the Three-Circle Model developed by Harvard Business School professors Renato Tagiuri and John Davis and the Life Cycles model by Gersick, Davis, Hampton, and Lansberg, the simulation allows students to learn first-hand how the dynamics of family, business, and ownership intertwine. They will deal with rising tensions and be forced to make tradeoffs as the family and business grow, relationships change, and the market evolves. At the end of the simulation, students will discover how their decisions impact the health of the business and their relationships. This simulation is appropriate for students in undergraduate, graduate, and executive education courses specializing in family business, small business management, general management, entrepreneurship, scaling ventures, organizational behavior, and strategy. There is no pre-reading required by students.
This product was designed and developed to comply with WCAG 2.0 AA standards.
Company: Harvard Business Publishing
Approximate price: $10
Playtime: 30 minutes
Learning objectives: 1. Familiarize users to some critical issues that could arise in a business family environment.
2. Help students understand the dynamics between the family, business, and ownership dimensions in a family business.
3. Create an understanding that the decisions will change over generations, and each generation will deal with a different set of decisions.
4. Help students learn the multigenerational implications of their choices on the family, business, and ownership dimensions.
5. Introduce users to many different family business decisions and challenges so they will be equipped with the knowledge, skills, and attitudes necessary in a family-run business.
Link to simulation home page: https://hbsp.harvard.edu/product/7130-HTM-ENG