Situation 3
Julie Fattoo is co founder and president of PM Mrals, a food services business that prepares and sells boxed meals and converience masks to hotels, correstion operators, corporate clints, and community event planners. Patton makes most of the business declaions related to the compary and is in charge of geoerating new acosunts. The frrm's other co foundar, Anpla Marks, has calinary training and oversees the meal preparation side of the operation. The food they offer represents relatively slruple fare, but it is fluvorful and attractively perement, escreding by far what nont dients would expect from a bourd-meal peovider. would come with major strings attached. For example, even though the company has been performing sionly withost a board of directors, the imentor inaists that it form ene and that he be phens. seat on the new board. In his woeds, "If I am going to put up money for the business. I want to be able to influrnce how my money is being wed."
Patton and Marks are concersed that focming a board and including at least one outside investor (the one who insists on laving a seat) will undernitax their control and paralyae the business. As they wrigh alternatives, they are kaning toward forming a three person board and accepting the new investment - but they ace far from certain as to what they should do.
Given the information provided in Stuation 3, would you accept the irrestment and the cosditions that go along with it, or refuse it and go a different lirection?