Board Advisory Services.
Why an Advisory Board?
Advisory boards are immensely helpful for organizations of all kinds, just because you are a small business does not mean you can benefit enormously from an Advisory Board. They provide a wealth of knowledge, expertise, and insights which can help your organization thrive and reach its goals. In essence, an advisory board serves as an effective guidance tool for businesses.
Advisory boards are invaluable because they assist in filling any informational gaps existing in any business while offering essential advice and understanding.
Having an advisory board is an economical alternative that allows businesses to consider the opinions of independent experts. It can be a cost-effective solution compared to using individual consultants. Instead of having fiduciary responsibilities, like in the case of a Board of Directors, external advisors are here to solve problems rather than make decisions. They bring a wide range of knowledge and experience to the table which can help you achieve success. Advisory boards can be a great way to make good decisions while keeping your company healthy.
Much like an athlete would hire a trainer to improve their game, a Business can look to an Advisory board for coaching. No matter how engaged and talented the owners of the Business are, they’re still busy people with unique strengths and weaknesses. An Advisory helps with effective business support.
How to choose your Advisory board?
Advisory boards are set up to boost the value of any given business and should be composed in a way that optimally builds upon the strengths of its leader. We have an extensive professional network and connections and work to find the “right fit” to help your business connect with potential partners, customers, and investors and provide the necessary guidance to foster your success.
The Business Activators team has a deep understanding of business operations. We can help you to evaluate your business' strengths, weaknesses, opportunities, and threats. By doing this, it will be easier for you to recognise areas where additional input is required.
Board Evaluations
In addition, we conduct board evaluations for established boards using a comprehensive process. This process includes an assessment of the board composition, board effectiveness, diversity, board charters, and policies, education on risk and governance, and board training and education to the entire board or individual members as needed.
Our skills matrix template is used to identify the strengths and weaknesses of the board composition and evaluate the board's effectiveness to determine the roadblocks to successful outcomes. We assess the diversity of the board to ensure representation of the organization and a wider view.
Risk Assessment reviews
There is no success without risk and, as technology increases the speed of decision-making risk will constantly change.
Business Activators identify the environment of opportunity, risk, and controls in the business through a full review process.
We offer a robust framework for strategic and operational risks that integrates into the strategic decision-making process
We work with boards to create Risk Appetite Statements, ensuring it reflects and underpins the vision and mission of the business.
