Читать книгу Governance of Ventures - Группа авторов - Страница 23

[22] Venture governance in the 21st century shares many characteristics with the approaches forged in the 15th and 16th centuries, when entrepreneurial sailors headed to unknown parts of the planet. They too needed financing, and investors devised mechanisms to enforce the agreed terms. While much has changed in the past six centuries, not least the evolution of a specialized approach to venture governance and the emergence of a professional industry of venture capitalists, several basic principles remain relevant. Today, venture boards are pivotal to mastering the dualities of venture governance, especially when addressing board culture, collaboration and composition:

Board Culture	#1: Embrace uncertainty with certainty #2: Pursue a far-reaching vision with a nearsighted view
Board Collaboration	#3: Act as a friendly foe #4: Grant autonomy in a disciplined manner
Board Composition	#5: Be a specialized generalist #6: Be temporary, but be persistent

History has shown the role of ventures to be closely linked with the disruption cycle. In times of intense creative destruction, the interest in and attention paid to ventures flourishes. As soon as transformation creates a new normal, ventures are viewed less enthusiastically. Effective venture boards need to be prepared for both phases.

Venture governance delivers a lasting impact in two ways. Firstly, many principles that evolved from venture governance are adopted into the dominant model of corporate governance. Dealing with uncertainty and agility has become a key requirement for any board member beyond the world of startups. Secondly, the emergence of the next wave of creative destruction is just a question of time. Let us hope that when this next thrust arrives, businesses will remember and learn the invaluable lessons from the previous cycle.

The importance of venture governance is closely connected to the disruption cycle, but has a lasting impact on overall corporate governance.