A fresh bite of the Apple
In business school parlance, it’s known as the “founders’ dilemma.” Inventors and entrepreneurs with a great idea start a business partnership in hopes of building and running a wildly profitable company. After all, who better to bring a product or service to market, and to lead others in that effort, than its creators? More often than not, the answer is: someone else. Historically, few business founders have thrived in the role of CEO. Nearly 80 percent of founders are forced out before a company fully hits its stride and goes public, according to a 2008 analysis by Noam Wasserman, associate professor of business administration at Harvard Business School (HBS). One of the most famous and dramatic examples of this timeless power struggle took place at Apple. During its early years, flush with the success of the Apple II computer, co-founders Steve Wozniak and Steve Jobs clashed over the company’s direction. Wozniak dialed back...