Advisory Board Professionals Best Practice Consultation 2024

As the global stewards of advisory board best practice, the Advisory Board Centre, in conjunction with the Global Research Council and the Best Practice and Ethics Advisory Board, has undertaken a rigorous six-month consultation process to receive input from advisory board professionals and stakeholders on the ABF101: Advisory Board Best Practice Framework to refine and enhance the framework before its re-release later this year.

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.  The initial framework design and supporting resources followed four years of research, development and stakeholder consultation to ensure the resulting framework was robust and widely applicable to the diverse range of organisational settings where advisory boards are used.

To ensure the 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 bi-annual consultation and review process which commenced at the end of 2023.

Louise Broekman, Founder of the Advisory Board Centre, recently shared insights into the evolution of the market and why continuous reviews are necessary in the ‘2023 – Year in Review’ interview with fellow Advisory Board Centre Director, Udo Doring.

“The rise and rise in the utilisation of advisory board boards to navigates changes in the market, creates a deeper understanding of the advisory board sector. The re-release of the framework must reflect this evolution and ethical issues of independence.”

Louise also notes “We have to be mindful in the review process, to not make frameworks more complex, as value is created from flexibility in structure, with principles that are accessible, adaptable and strong.”

STAKEHOLDER CONSULTATION

The ABF101: Advisory Best Practice Framework™ provides a principles-led foundation to support the advisory community and the organisations they serve through advisory boards.  The framework sets out the core principles which are pillars to support organisations of any size to benefit from their advisory board and encourage professionalism, good governance and clarity in an advisory board context.

The framework considers the perspectives of broad interest groups, including advisory board practitioners, government, academia, governance boards, institutional investors, international market representation, corporate organisations, incubators and accelerators, professional services, partnerships, and not-for-profit organisations.

The ABF101: Advisory Board Best Practice Framework underpins ethics frameworks, professional credentials and best practice methodologies.

Since its release the ABF101: Advisory Board Best Practice Framework has been accessed by thousands of professionals worldwide to inform their understanding and implementation of best practice.

CALL FOR SUBMISSIONS

If you would like to contribute within the consultation process, please connect with the Global Research Council at [email protected] by the 8th March, 2024.

For advocacy and media relations, including scheduling opportunities for Executive briefings on best practice and state of the market, contact [email protected].