Corporate governance stories do not follow a formula. They’re often about human drama — personality conflicts, power struggles, greed, fear, status and power. The nature of the story dictates the format — news, feature, news-feature, profile, investigative. In choosing a format, ask three questions:

• What’s the best way to tell the story, to grab the reader’s interest and then hold on to it?

• What format is most appropriate for the material in this story?

• Why should the reader care about this story?

Here are some general definitions of various kinds of stories.

News

If the story is fresh news, not previously reported, about something that has happened or is about to happen, the format will be the traditional news story. The lead tells the reader the most important information first and arranges the rest of the information in inverted pyramid style.

In a business story, it’s particularly important to choose carefully the key numbers for the lead, and avoid packing the first sentences with too many numbers. Examples: Stories about the resignation or firing of a top company officer; a major acquisition or decision to sell a line of business; shareholder initiatives.

Feature

Stories that do not have a strong time element, or that are about general topics or about a particular angle on a news story, are features. For example, a story about Hewlett-Packard’s board was a feature or background story, which appeared a few days after the company tossed out its CEO. Examples: Stories about changes in company strategy or direction; backgrounders about possible heirs to top officer spots; issues surrounding succession, especially in a family business.

News-feature

Some stories fall in the gray zone between news and features. The topic may be a current event or person in the news, but the story takes a broader view, with more behind-the-scenes details than can be included in a news story. Examples: How new directors have influenced company policy and decision-making; how a company is rebuilding after an accounting scandal or share price decline.

Profile

A profile concentrates on one person and attempts to give a fully rounded portrait of that person. It may be based on interviews with the subject, but should also include other sources — colleagues, family, friends, even rivals. A profile can also focus on a particular business or company, if there is something distinctive or newsworthy about the company. Examples: Younger family members in a family business; a prominent shareholder who challenges company policies or decisions.

Investigative

The investigative story has elements of both the news and feature story, and can be written effectively in either style. To be considered investigative, a story must uncover wrongdoing and bring it to light for the first time. It is usually lengthier than the typical news or feature, and may be presented as a series of stories over a number of days, with sidebars. Sidebars are smaller stories accompanying the main story, and each concentrates on a particular sub-topic addressed in the story, giving more detail or background. Examples: In-depth stories about company accounting practices can be investigative if they uncover suspicious or even illegal maneuvers. For a good example, see The Globe and Mail’s story on Sino-Forest Corp.’s actual timber holdings in China (Chapter 5).

Opinion column

Journalists can question company strategy, criticize management and the board and speculate in columns, where they have much more leeway than in straight, factual news stories. In this column by Tamal Bandyopadhyay in India’s Livemint.com, notice how the writer manages to raise questions about the stewardship of Praval Kumar Tayal, under pressure to give up control of the Bank of Rajastham. http://bit.ly/I9LOuC