At every stage of development, there remains the allure of filling a board seat with a 'door opener'--someone presumed to have connections at companies with which the VCBC would like to do business.
As the VCBC evolves through the four typical stages of its lifecycle--seed funding, early commercialization, late stage expansion, and liquidity--the board must evolve with it, maintaining the right mix of expertise for each stage and being prepared to change directors when circumstances warrant.
Board members must not only apply differing business, strategic, and operational knowledge at each stage of the VCBC's development, they must also be able to apply different governance skills as the company grows and changes.
When choosing a new CEO or new directors, VCs and VCBC boards may feel impelled by the accelerated development cycle to take a shortcut: appoint people who don't need to be assessed for the job.
According to the automaker, Line 38 indicates 45 per cent higher efficiency for VCBC
because it is able to press twice as many parts (blanks) per stroke (descent).
Until the turn of last century, all independent Chinese Baptist congregations in British Columbia emerged as a result of the church planting effort of VCBC: Surrey Chinese Baptist Church in Surrey (SCBC), (33) Richmond Chinese Baptist Church in Richmond (RCBC), (34) Coquitlam Chinese Baptist Church in Port Coquitlam (CCBC), (35) and Okanagan Chinese Baptist Church in Kelowna (OCBC).
(39) In contrast to VCBC and its daughter churches in British Columbia, the majority of church members of ECBC came not from membership transfer from Hong Kong churches but from their innovative outreach ministries including parenting groups, programs at the Evangel Family Centre, Senior's Home ministry, and community public seminars.
(33.) Surrey Chinese Baptist Church began in 1985 as the first church plant of VCBC. "It was a 'well-planned' church plant," said Ms.
Although VCB Malaysia Berhad has divested its interest in VCBC
, it continues to have a business relationship with VCBC
where it requires a partner to carry out new business in the area of licensed fund management activities.
Many venture capitalists, particularly younger partners in larger firms, join founding CEOs as rookies on a VCBC board.
VCBC boards are unique because of the challenges that are particular to emerging companies in rapidly changing competitive markets.
Just as VCBCs must remain nimble and flexible in order to be successful as they grow, effective VCBC boards must adapt as they experience the normal process of maturation.