Advancing our 100 Year Strategy

As the global stewards of advisory board best practice, it is our duty to ensure that we have a longer-term vision for the sector that extends well beyond any individual’s tenure.

I opened our Megatrends Summit in Brisbane, Australia by sharing a progress update on the Advisory Board Centre’s 100 Year Strategy. Sharing our progress, and our learnings along the way, ensures transparency and accountability in our service to the sector.

Why Have a 100 Year Strategy?

Planning for the future (or possible futures) can be challenging for many organisations because, quite simply, no one has been there before.

Defining a 100 Year Strategy allows us to clear on the destination, while maintaining flexibility on the path to get there. We don’t comprise our values or purpose in response to short term signals, but rather use these to consistently check in on our promise to the sector.

This is one of the reasons why advisory boards can be such a powerful tool for organisations to be proactive and responsive to the future by providing a powerful combination of insight and foresight.  The Advisory Board Centre is supported by several advisory structures where members use their skills, experience and deep intellectual curiosity to gain meaningful insights about our operations today and strategic foresight to inform our leadership.

Insight: the capacity to gain an accurate and deep understanding of someone or something.

Foresight: the ability to prepare for what will happen or be needed in the future.

Where Have We Been?

While our 100 Year Strategy helps us keep a future focus, it is important that we take time to also reflect on the key milestones achieved along the way.

As an inclusive global community, we welcome new members every day. We share and regularly update this timeline in our Certified Chair™️ Executive Program to foster connection to our proud history while building momentum towards the future.

Founded in 2017, the Advisory Board Centre now proudly supports members in 29 countries. Our collective support network drives value for organisations of all sizes and operating environments- from early-stage ventures to multi-national corporations, to government and academia.

A Generational Approach

Prior to 2017, the advisory sector was not considered as a distinct profession. While advisory boards themselves were not new, a globally adopted and supported approach to best practice did not exist. Taking a 100-year view allows the Advisory Board Centre to establish a new benchmark of professionalism and legitimacy to the advisory sector built on quality, care, excellence and best practice.

This is not something we could do in isolation. It requires a true spirit of collaboration, both within our global professional community and with the wider ecosystem of stakeholders including Government, regulatory authorities, industry, professional associations and business leaders.

Our goal for each generation is to leave the sector better off than where it started. The high-level goals for this first generation of credentialed Certified Chairs™️ and advisors includes:

• Engage Stakeholders to develop globally accepted advisory board best practice
• Establish Hubs in Key Economic Zones supporting growth
• Define credentials and resources to educate Chairs, Advisors & Influencers
• Shape Best Practice Communities
• Inform Current and Future Regulations

Delivering on Best Practice

Released in 2020, the first edition of the ABF101: Advisory Board Best Practice Framework™️ marked a watershed moment for the sector as the world’s first best practice framework for advisory boards. Since its release the ABF101 Framework has been accessed by thousands of professionals and organisations worldwide to inform their understanding and implementation of best practice.

To ensure ongoing suitability and impact of best practice against the changing operating environments and increased global adoption, the ABF101: Advisory Board Best Practice Framework™️ is subject to a biennial consultation and review process overseen by the Advisory Board Centre in conjunction with the Global Research Council and Best Practice and Ethics Advisory Board.

The updated Third Edition will be available to our professional membership community from 1 June 2024 and released for public access from 1 July 2024. We invite all stakeholders with an interest in advisory board best practice to join myself, Chair of the Best Practice and Ethics Advisory Board Sandra Gamble and Advisory Board Centre CEO Udo Doring for an Executive Insights webinar where we will be discussing the best practice updates and what this means for the sector and the organisations we serve.  View the webinar details and registration.

Global Advancement of Best Practice

The Advisory Board Centre continues to support the advancement of best practice in key economic hubs. We deliver the Certified Chair™️ Executive Program in markets including Singapore, Dubai, London, Toronto, Sydney and Brisbane. Our professional community is also supported through local engagement led by our Peer Advisory Group Chairs, who are deeply experienced and actively engaged in their markets.

In October 2024, we will also host the Showcase Singapore Summit, bringing together the very best leaders in the region to share knowledge and build networks. If you are interested in learning more about the Showcase Singapore Summit, please reach out to Penny Ellenger, General Manager Engagement. We also recognise the growing influence of advisory boards within the Middle East, highlighting the value of future focused insights.

A Commitment to Research

Through the Global Research Council, we maintain our commitment to bringing a rigorous, evidence-based approach to the development of best practice and an insatiable curiosity for the use and impact of advisory boards in all contexts.

Our current research agenda includes three key topics:

• Exploring ethical engagement relating to advisory board compensation and equity for advice.
• Exploring the role and impact of advisory boards within family business and family office structures.
• Exploring the rising use of corporatised advisory boards including the drivers, impact measures and considerations for the future organisational design and governance.

Key outcomes of the research will be included in the future release of the State of the Market Global report. We actively encourage engagement in our research with the wider ecosystem. If you are interested in participating, please connect with the Global Research Council.

An Invitation to Join Us

The value and impact of advisory boards is felt directly or indirectly by every single person.

The Advisory Board Centre recognises the importance of active stakeholder engagement and contribution. If you have an interest in advisory boards and the enhancement of governance systems, we warmly welcome you to engage with our community. The Advisory Board Centre is trusted for its independent and actionable guidance, ensuring organisations and professionals are equipped with the knowledge and networks needed to maximise their advisory boards.

And for our valued professional members, we thank you for your commitment to best practice and ethical engagement.  Continue to stay engaged and curious in the work you do.