Case Study Of Bill And Marge Barrel

1021 Words 4 Pages
Bill and Marge Barrel were very young when they met and began dating. They were 20, and 17 respectively. After only six months of dating they knew that it was true love and decided to get married. Once married, they settled down in Bardstown, Kentucky and opened a bourbon distillery. The company was named Barrel Bourbon. In 1957, Marge discovered that she was pregnant with their first child Jim, who is now the General Manager of Production. Two years later in 1959, Woodford Barrel was born and currently hold the position of Director of Sales. In 1964 Bill was ecstatic when he learned that Marge was pregnant with their daughter Rose. As Rose grew up, Bill always knew that she would take over the business when he stepped down and gave her the …show more content…
The family spent the day sightseeing, and spending time with each other with no pressure of the business. The second day was going to be dedicated to a meeting between Rose, Jim, Woodford, and Pappy. The purpose of this meeting was to open the lines of communication between Rose and her brothers and resolve any issues. When the meeting was over, Jim and Woodford felt like they had been heard and most of their concerns were addressed. Rose learned that her brothers were not mad that she took the job as CEO (they were actually very happy for their sister), they were mad she did not talk to them or thinking about how they were going to feel first. When they rejoined the families even they noticed that the tension was gone. The third day was for everyone who wanted to be involved with the business and was dedicated to educating and communicating what was occurring within the business. There were team building activities, case studies, and trust exercises throughout the day. The final day was dedicated to developing and editing policies. Rose thought it would be a good idea to bring in a human resource specialist, and policy writing specialist for this day. The two policies that were the focus of conversation were editing the employment policy and the development of a board service …show more content…
It was decided that a new board needed to be developed. The new board would consist of Rose, Jim, Woodford and four members not involved in the business or member of the family. After the new board was assembled each member, excluding Rose, Jim, and Woodford, would serve a maximum of five years, with two members being replaced every two years. The qualities that would be expected in the new board members were; experience, leadership, integrity, and loyalty. The responsibilities of the board would be; future oriented, identify growth opportunities, financial controls, unbiased performance review/ respectful criticism, and mitigate conflict. Compensation would be determined on a member by member

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