An Advisory Board is a place to share information, expertise and visions for effective governance. It is a working group of experts working with leaders to make a recommendation to the company’s management. They bring you a fresh perspective that invites you to review your practices, perceive blind spots, and to challenge yourself.
This working group explores, with operational managers, both prospective and concrete topics. The aim is to get away from their daily lives, challenge them and help them take a step back from the day to day situation and the vision they have to convey internally.
Through regular meetings, the Advisory Board meets 3 to 6 times a year with the Executive Committee. The members of the Advisory Board help the managers to disconnect from their daily problems in order to take a step back. Because it is true that when you are so focused on your business that you can no longer see the big picture, you sometimes end up neglecting some points. The Advisory Board is there to challenge the manager, and to help him see things from another angle.
Taking advantage of diverse skills within an Advisory Board is definite enrichment for the managers and for the company’s performance. The Advisory Board is interesting for the benefit of a broad range of experience, skills and points of view that you cannot recruit full-time. You will be able to rely on the solid expertise of the Advisory Board’s members to answer questions related to the company’s strategy. This is a considerable asset in the strategic thinking of your company.
During the meetings of the Advisory Board, the following issues and topics can be discussed according to the needs of the company and its current situation: vision, company values, choice of strategic options, analysis of the market and the positions of the competition, equity and cash flow, external or organic growth, organization, human resources, search for financing, and relations with investors.
The Advisory Board brings together people from outside your company to guarantee the free expression of every single person and to avoid conflicts of interest.
These independent people are not driven by career ambitions that would compromise a global strategic approach. They tell it like it is whereas it is not always the case with an employee. The Advisory Board is a place that encourages exchange between peers without financial or political stakes.
The Advisory Board aims at accompanying a company over the long term so that its members hold all the cards to provide the most relevant advice. It is about advocating the collective as the best ally of the company strategy to generate a collective intelligence to serve the interests of the company and its activity.
In addition to inspiring the leader, the strategic committee can sometimes facilitate communication between the management and operational teams. By promoting synergy between the teams, this approach increases the performance of the operational teams, which are challenged in the implementation of the strategy defined by the leader.
While the board defends the interests of the shareholders, the Advisory Board works alongside management to assist them in making decisions on the company’s operational issues. The Advisory Board has no structural link with the board which is in not obliged to follow the recommendations of the Advisory Board. It is not a decision-making body, but rather a body for consultation, reflection and decision support. It is therefore always you, as the operational management, who will have the last word.
At TrouveTonBoard, we are convinced that the Advisory Board is at the service of the company’s performance. We believe that the collective is a strong value for any company wishing to be accompanied in the achievement of its ambitious goals.
Everyday, we help managers to create and lead Advisory Boards.
Our job is also to recruit independent advisors with a wide range of profiles:
Are you a manager of a start-up, an SME or an ETI? Do you want to have a feedback on your vision and your company strategy? Take the plunge and create an Advisory Board!
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