VC-backed start-ups may need to think and act differently, perhaps more judiciously, about effective governance than more established firms. The stakes for start-ups are higher and the environment for failure is less forgiving than for established enterprises. In addition to their oversight role, directors at start-ups should be considered strategic assets. Developing a relation-based model built on a board/CEO partnership can increase the odds for success.
By Joe Mandato
In an interview in Fortune last summer, Intel Corp. chairman Andy Grove explained how he had shifted the primary mission...
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