Story of Theranos

One of the questions that should never be overlooked while accessing a technology to be
obtained is the potential risk associated with technology adoption. This covers not only technical
risks but also elements such as regulatory changes, market trends, and possible effects on the
organization's reputation. Has this technology been adopted earlier by some other firm? or Is this
a radically new Technology?
Investors and venture capitalists play an important role as they usually keep a close eye on the
company's performance after making an investment. To make sure the business is on pace to
achieve its goals, they might ask for financial reports, other KPIs, and frequent updates. Investors
of Theranos, just invested their capital into startup while they didn’t have any concern about the
achievement of goals moreover, they didn’t even ask Elizabeth and partners about financial
position of the company.
Particularly in the field of technology, the board of directors assumes a complex and vital role in
directing the strategic path and guaranteeing the general well-being of an organization. The
board is responsible for establishing long-term objectives and strategic direction, in addition to
overseeing governance, compliance, and risk management issues, including the ever-changing
landscape of technological adoption and innovation. In case of Theranos, the board of directors
were not technically sound with the technology as they couldn’t play a pivotal role in directions
and leadership.