Maximising the Value of Best Practice Advisory Boards

One of the most common drivers for establishing an advisory board is to assist an organisation to explore their options when going through a period of growth or change.  In this Executive Insights webinar, Advisory Board Centre Founder Louise Broekman and General Manager Advisory Talent Brendan Logue take a deep dive into a best practice case study to explore the value that can be created via advisory boards.

This webinar explores a case study of a CEO who sold her practice and needed support during the transition period. The advisory board was established to provide strategic guidance, support the CEO, and ensure the continuity of the business. The advisory board members were selected based on their expertise and alignment with the organisation’s growth goals.

The Advisory Board Centre advocates for the advancement of best practice and ethical engagement in advisory boards.  The ABF101 Advisory Board Best Practice Framework sets out the global standard best practice framework for advisory boards based on ethical principles that can be applied across different types of organisations.

Key Insights

1. Clearly define the purpose and scope of the advisory board, and ensure that it is separate and distinct from the organization’s governance board. This helps prevent overlap and ensures the advisory board can provide independent, strategic guidance.
2. Carefully select advisory board members who have the right expertise, industry knowledge, and cultural fit to support the organization’s specific goals and challenges. This can include both seasoned advisors and those new to advisory boards.
3. Establish a robust onboarding and orientation process for the advisory board to ensure all members understand their role, the board’s objectives, and the protocols and best practices for effective advisory board operations.

Watch the Executive Insights replay now.