Governance of Ventures

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Governance of Ventures

Introduction

Venture Governance – The Hidden Driver of Entrepreneurial Value Creation. Prof. Dr. Michael Hilb. Abstract

Author

1 The Renaissance of Venturing

2 The Venture Board – the Glue that Bonds the Venture Ecosystem

3 The Four Waves of Venture Governance

4 The Changing Role of Venturing in the Business Lifecycle

5 Principles of Excellence in Venture Governance

5.1 Board Culture

Principle 1: Embrace uncertainty with certainty

Principle 2: Pursue a far-reaching vision with a near-sighted view

5.2 Board Collaboration

Principle 3: Act as a friendly foe

Principle 4: Grant autonomy in a disciplined manner

5.3 Board Composition

Principle 5: Be a specialized generalist

Principle 6: Be temporary, but be persistent

6 Look Forward by Not Forgetting to Look Back

References

The St. Galler Startup Navigator as a Governance Tool. Prof. Dr. Dietmar Grichnik and Dr. Manuel Hess. Abstract

Authors

1 Apply the Navigator to Avoid Sharing the Same Fate of many Startups: Failure1

2 Rely on the Startup Cockpit to Systematically Navigate the Four Startup Phases after Initial Euphoria

3 Subscribe to Guided Self-control with the Transformation Map

4 Ensure the Performance Fit: Guide and Measure the Startup Development towards Success

References

Free-Energy Governance – An Approach to Effective Venture Governance. Bijan Khezri. Abstract

Author

References

Leading and Overseeing Ventures – Fourteen Decisive Questions. Herman Arnold. Abstract

Author

1 Leading Ventures – Seven Decisive Questions

1.1 When to give a chance, when to exchange?

1.2 When to make, when to partner?

1.3 When to go global, when to conquer a market?

1.4 When to open a new site, when to stay close?

1.5 When to focus, when to take an opportunity?

1.6 When to lead, when to follow?

1.7 When to be with customers, when with the team?

2 Overseeing ventures – seven decisive questions

2.1 When to double down, when to pivot?

2.2 When to insist, when to let go?

2.3 When to share, when to stay simple?

2.4 When to split, when to close ranks?

2.5 When to exit, when to do it yourself?

2.6 When to develop, when to step down?

2.7 When to stay on, when to get out?

Venture Governance: How the Lean Startup Philosophy Changes the Work of the Board. Prof. Dr. Sebastian D. Becker. Abstract

Author

1 Introduction

2 Governance by Venture Boards: What the Widespread Adoption of the Lean Startup Philosophy Has Changed

3 Board Governance Practices: What a Board Can Do to Ideally Support its Venture. 3.1 Establish Reporting and Dashboards

3.2 Allocate Scarce Resources

3.3 Hold Founders Accountable

4 Conclusions

References

After a Financing Round means before a Financing Round – The Role of the Investor in Venture Governance. Dr. Thomas Duebendorfer. Abstract

Author

1 The Startup Financing Challenge

2 Startup Financing Options. 2.1 Equity Financing

2.2 Debt Financing

2.3 Token Sale

2.4 Other Forms of Financing

3 Mastering Financing Challenges. 3.1 Liquidity Squeeze

Lack of funds from investors

Revenue is behind expectations

Costs are higher than expected

3.2 Over-indebtedness

3.3 Shutdown Planning

Ten Principles of an Effective Scale-up Board Member. Menno van Dijk. Abstract

Author

1. Help the Transition from Start-up to Scale-up

2. Embrace Ambidexterity

3. Demand Continued Innovation

4. Propel, Not Protect

5. Act as a Coach

6. Master the Balancing Act

7. Reflect, Do Not Jump to Conclusions

8. Avoid Trying to Repeat Your Own Success

9. Work as a Team

10. Finally, Know Yourself

Corporate Governance in International High-Tech Startups. Prof. Dr. Rico J. Baldegger. Abstract

Author

1 Venture Board Structure

2 Venture Board Process

3 Venture Board Performance

3.1 Foster Innovativeness Inside the Board

3.2 Assess each Director’s Position on Critical Issues

3.3 Reevaluate and Refresh the Board

3.4 Plan for Board Succession

4 An Outlook

5 Conclusions

References

Mastering Corporate Startups – Opportunities and Challenges. Dr. Thomas Sieber. Abstract

Author

1 Learning Opportunities

2 Acquisition and Incorporation of a Startup

3 Challenges

3.1 Provide Entrepreneurial Freedom

3.2 Protect the Startup from the Internal Regulation Standards

3.3 Be Aware of a Different Cultural Mindset and Embrace those Differences

3.4 Be Strict on Behavioral Values

3.5 Be Humble towards the Core Business

3.6 Consider Your Very Different Roles as a Manager

3.7 Act as a Coach

3.8 Have Simple Incentive Programs

4 Conclusions

A Principles-based Approach to Corporate Venturing. Jan Sedlacek. Abstract

Author

1 The Root Problem of Corporate Venturing

2 Governance Rules for Corporate Ventures

2.1 Governance Principle #1: Have Clear Goals

2.2 Governance Principle #2: Provide a Parenting Advantage

2.3 Governance Principle #3: Keep New Business Structurally Independent and Attach it to the Top

2.4 Governance Principle #4: Provide Maximum Degrees of Freedom

OUR 10 COMMANDMENTS. 1. The law of large numbers

2. Independence and the right to play

3. Impact maximization

4. Trust the process

5. Transparency

6. Efficiency

7. Fail fast

8. Solution agnostics

9. Best skill

10. Best owner

3 Conclusions

Cracking the Collaboration Codes – How to Succeed in Ecosystems. Prof. Dr. Michael Hilb. Abstract

Author

1 Harnessing the Power of Ecosystems

2 Embracing the Collaboration Imperative

3 Facing the Collaboration Challenges

4 Cracking the Collaboration Codes

4.1 Collaboration Aspiration Code

4.2 Collaboration Agility Code

4.3 Collaboration Asset Code

Step 1: Understand your collaboration currencies

Step 2: Understand your potential partner’s collaboration currencies

Step 3: Choose the preferred collaboration modes

Step 4: Define the collaboration portfolio by choosing the most attractive collaboration opportunities

Step 5: Define the collaboration path

5 Winning Together

References

The Innovation Partnering Canvas – Getting Innovation Partners on the Same Page. Jan Paul Grollé. Abstract

Author

1 The Growing Need for Collaborative Innovation

2 The Challenges in Collaborations for Innovation

3 The Innovation Partnering Canvas

3.1 Deciders

3.2 Strategic Priority

3.3 Collaboration Format

3.4 Resources

3.5 Contributors

3.6 Risks

3.7 Outcomes

3.8 Returns

3.9 Target Date and Potential Follow-up

4 The Innovation Partnership Canvas in Use

Reference

Отрывок из книги

Michael Hilb

Governance of Ventures

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[19] The key dimension of any effective corporate governance is the culture that drives decisions. Two characteristics of effective governance are of particular relevance to venturing: the way the board deals with uncertainty, and the perspective on time that the board takes.

Dealing with uncertainty is central to venturing, so a venture board member must understand the opportunities and pitfalls of managing uncertainty. He or she should be equipped to thrive in such circumstances. At the same time, the management team expects guidance from the board to deliver a certain direction in times of uncertainty. The same applies to investors who base their investment decisions on the ability of the venture team to master uncertainty. They also seek certainty, especially when managing the time horizon of their investments.

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