Practical Tips About Boards of Directors and Building a Governance Structure
Sharing the "control" of your company with a board of directors is something that many entrepreneurs find difficult to accept. However, the arrival of a more complete management team is a normal and positive phase in the life of a growing company. Several questions nevertheless deserve some clear answers: Is a board of directors necessary for my company as of the startup phase? If not, when in the best time? What should I expect from the board members? Experience shows that governance structures are essential to good business conduct and improve the credibility of organizations. The board of directors is a corporate governance mechanism. This structure ensures access to deeper, more diversified expertise and to broader networks that facilitate business development. This capsule answers these recurring questions asked by entrepreneurs whose growth requires and compels them to further develop their practices.