The Advisory Board Centre supports the development, testing, validation and monitoring of best practice. To achieve this, our Advisory Board research framework supports the sector through independent assessment and sharing of knowledge and information.
As an Industry group, our responsibility in our research is to constantly challenge and validate value being derived from advisory models for the business sector.
The Centre has an independent research committee which oversees the research agenda including primary and secondary research. Research findings a provided to the advisory community, government, industry groups and organisations.
Advocacy and Research that we undertake including who we partner with, supports our purpose to provide a practical pathway for businesses to increase competitiveness, support faster innovation and drive economic impact through effective engagement with Advisors.
What does this mean in practical terms? It is important to be clear on definitions, so we are purposeful in our approach to our voice and research parameters:
| Increase Competitiveness
(C) The Why
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Competitiveness is the ability to provide products and services as or more effectively and efficiently than the relevant competitors. This includes sustained success in international markets.
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| Faster Innovation
(I) The Why
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Innovation is the catalyst to growth, both when starting up and as a means to keep existing business profitable. It means being open to new ideas, technology and unexplored markets, and making a commitment to adapt to industry changes.
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| Drive Economic Impact
(EI) The Results
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Economic Impact examines the effect in a specified parameter, ranging from a single business to a macro environment. It can measures changes in business revenue, business profits, and jobs.
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| Effective Advisor Engagement
(AE) – The How
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Advisor Engagement examines the effectiveness of access, appointment method and outcomes from appointing an external advisor for a business.
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With the absence of direct information on the size of the Advisory Board sector globally, to gain insight into the size of the sector, a data sample was evaluated from Linkedin of professionals currently working on Advisory Boards.
Advisor calculation – A data analysis was conducted on Linkedin Titles using two methods. Advisory Board “current role” search. A validation test was conducted with 100 “current” roles in the Canadian market. This produced a 5% variability between the tile “Advisory Board” and the actual current roles.
Advisory Board calculation – The study of Advisory Board structures in 2018 identified best practice for Formalised Advisory Boards which included 3 external roles on Average for formalised Advisory Boards This includes an Independent Chair and 2 external advisors. This calculation has been applied to the Advisor calculation method.
Findings: 434,000 Advisory Boards globally with 1.3 professionals actively engaged on Advisory Boards.
The research was based on a series of surveys conducted on behalf of the Advisory Board Centre and actual case studies of Advisory Board activities from July 2017 to December 2018.
Individual respondents were drawn from 250 individual chairs, advisors and experts. Participating organisations include those which are actively engaged with more than 100 Advisory Board events. These firms range from pre-revenue start-ups to organisations with annual turnover of $200m.
Findings: Published in the 2019 Annual State of the Market Report
Our research catalogue commenced in 2002. If you have any questions about research findings, contact Louise Broekman, Research Lead at: research@advisoryboardcentre.com.au.
Research collaboration is core to gathering data and sharing the key learnings within the market. Examples of collaboration include:
A Employment Systems in Small Firms: A Multilevel analysis
Data gathered from 2008 – 2010 was shared with an Independent Academic Committee who completed and published a Report in an A Class Journal for Small Business. Committee members were
Verreynne, M., Parker, P., & Wilson, M.. Employment systems in small firms: A multilevel analysis, International Small Business Journal.