The board of directors and capital sources have begun to lose confidence in management and want to get R.E.A.L. On the other hand, management is faced with product development or commercialization difficulties they perceive will require additional time and money. When product development experienced delays, senior management found themselves defending poor decisions and living in denial. Criticality of Effective LeadershipTo execute the operational plan properly, effective Leadership is the key to success. Though effective leadership is not a unique need of venture-backed companies, the particular characteristics of such companies place a premium on the quality of leadership as the business evolves and attempts to successfully commercialize an advanced product.

Source: Wall Street Journal January 16, 2024 16:59 UTC