Advisory Boards

In: Business and Management

Submitted By cmbeck
Words 790
Pages 4
Advisory Boards

In almost all type of business situations the creation of an advisory board working along with a governance board can add tremendous value to an organization. A governance board of an organization is responsible of all activity, ensuring the success of the agency while setting objectives that reflect the interest of the owners. They are ultimately responsible for everything within the organization. The decision to create an advisory board is to deliver more support and direction to both the governance board and to the organization’s staff. They do not have the same responsibility of ensuring the well-being of an organization, but can be beneficial in applying outside objectivity to all types of different situations concerning an organization.
In developing advisory boards and creating relationship amongst the governance board or the CEO can be a really added value, it can help the organization by; * Outside Sources Brings New Ideas: A governance board or CEO benefits by hearing different viewpoints and possibilities of how to expand their organization. When a group such as a governance board works together they may tend to think alike and not look at different avenues to proceed. * Receiving Advice from others with Specific Knowledge: An advisory board can be chosen for their specific knowledge in areas that the board or CEO does not have that specific information and can therefore help the organization make better decisions for their organizations. * Strengthens Relationships with other Stakeholders such as Vendors and Customers: By bringing in stakeholders they can see how the organization operates and see that they like it and it also brings in perspectives that the stakeholders want to see within the organization. By doing this it will ensure that these stakeholders remain with the organization. * A Committee that Offers…...

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