What is an Advisory Board Charter? A Charter is a guideline on why the…
What are the Advisory Board Roles And Responsibilities?
What are the Advisory Board Roles and Responsibilities?
The purpose of most Advisory Boards is to stimulate conversations to problem solve a business priority . Inherently its role is not to make decisions but increase the confidence of the decision maker.
Due to the flexible nature of Advisory Boards, the roles are chosen specifically to fit the business requirements. The roles and responsibilities are normally established within the Charter alongside protocols within the Advisory Board structure.
Advisory Board Roles
There are three key roles which include a Chair, internal directors/stakeholders and external advisors.
Best practice for an Advisory Board is to appoint a Chair. The role of the Chair is to establish an Advisory Board structure to establish, facilitate and support effective Advisory Board outcomes.
External advisors are appointed by the business for their knowledge and direct experience to problem solve, explore options/concepts and strategic direction.
Internal Directors & Stakeholders are ultimately the ones to make the business decisions and follow through on their commitments. They are directly linked within the business and are often founders, CEO’s and executives.
The most common structure of an Advisory Board is a Chair, 2 Internal Directors and 2 External Approved Advisors. This structure provides a balance of facilitation, external advice and follow through for implementation.
The Advisory Board Centre provides membership, certification and best practice training for Board Chairs and Advisors. When you are engaging strategic Advisors in your business- look for the logo: