If you want to go fast, go alone. If you want to go far, go together.
An advisory board is a structured and collaborative method for organisations to engage with external advisors. Advisory boards act as a sounding board for either the company’s owners, directors or shareholders.
Today’s businesses operate in a complex and dynamic global environment where staying at the forefront of technological and cultural change is harder than ever before. An Advisory Board can provide sound advice and guidance to help businesses navigate complex or challenging scenarios, such as growth, expansion, change management, crises, sales, and problems.
The purpose of the Advisory Board is to contribute to good corporate governance of the business including:
- Providing feedback to refine the vision of the Business.
- Overseeing the business structure and strategy so these serve the Business vision.
- Protecting the interests of the Business Owner.
- Providing guidance and support to the executive team.
- Considering risks to the business and constructively challenging the robustness
of business strategies.
- Overseeing and contributing ideas to improve the effectiveness of business strategies.
- Overseeing and contributing ideas to succession planning.
- Evaluating the financial budgeting, performance and position of the business
and provide guidance.
Michael Fox is a seasoned professional with over four decades of unwavering commitment to the success of his clients. As an Advisory Board Chair, Michael brings a wealth of experience and deep industry insights. Specialising in business governance and family business succession, Michael has become a trusted adviser, particularly excelling in empowering emerging businesses and family enterprises.
Holding the designation of an Aged Care Certified Chair of the Advisory Board Centre further underscores his dedication to excellence in advisory roles. In addition to Michael’s extensive network and industry connections, his ability to foster renewal, enhance value, and facilitate smooth transitions to the next generation sets him apart in the field.
Get in touch with Michael today to learn how an Advisory Board establishment can help your business!