How boards can add value to startups and their CEOs
Open communication is key, with a good balance struck between the two power centres.
IT IS well known throughout the small and medium-sized business sector that the majority of new companies fail within their first few years. Many startups, in their race to scale up and hunt for investor funds, overlook the dynamics between their directors and their chief executive officer (CEO), and fail as a result. A cohesive relationship between the CEO and directors is essential for a startup to grow. But it starts with CEOs understanding their role vis-à-vis the board and vice versa, and for the company to strike a balance between the two power centres.
Startup CEOs are commonly also the founders of the company; they are often the "face" - spokesmen and key salesmen of their company. They are often obsessed with their vision and may refuse to entertain alternative views. Their narrow focus may be mista…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in