I recently reported on a stalled attempt to build a utopia for entrepreneurs and celebrities on Utah’s Powder Mountain, a ski hill an hour from Salt Lake City. The story—which appears in this month’s print issue of Fortune—had the ingredients of a dramatic business tale: billionaires and star investors, stunning real estate, local backlash, lawyers trading accusations about elitism and money laundering, and an apparent battle of egos between founders.
And nestled in this yarn was an age-old management lesson: Every company needs a board.
