The Role of the Board of Directors In the Successful Startup of New Ventures
نویسنده
چکیده
Startup is considered the most difficult time in a venture’s life. It is a period when critical decisions must be made about how to structure, position and finance the venture, amidst the greatest level of uncertainty the firm may ever face. Successfully managing under such uncertainty requires that the entrepreneurial team either possess extraordinary skills or utilize the expertise of outsiders. While the benefits of a board of directors are well understood for more established firms, there is relatively little known about how an active board can influence new venture success at the startup stage. This paper examines the appropriate role for an active board of directors at startup. Implications for both scholars and practitioners are discussed.
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