What is an Independent Advisory Board?
An advisory board is a group of independent industry executives and professionals that is retained by a company for the purpose of offering advice and support on a wide range of issues that are relevant to the organization.
The issues are likely to include areas such as business development, industry trends, information technology, corporate partnerships, political agendas, international matters and more.
The role of a board of advisors is different from a board of directors. A board of advisors operates at the discretion of the company and has no financial responsibilities.
Ideally, an advisory board for a company should have six or seven senior members. With too many members, it becomes difficult to develop and maintain a relationship and to take advantage of what each has to offer. Your advisory board is an extension of the management team. You should analyze where you need help and take advantage of the experience and expertise of each advisor.
Extended Professional Resources.
To provide clients with extensive capabilities, The Radcliff Group is allied with thought-leading practitioners in strategy evaluation and implementation, information technology, organizational change and human capital development. The Group is retained by select clients seeking to achieve top-tier growth rates and return on investment through improved business design, technology deployment, and organizational execution.
To provide clients with expanded capabilities, The Radcliff Group can extend its reach to align with this strong team of practice colleagues.
|Charles L. Brazik
||The Brazik Group|
|Terry S. Brown
||Founder and President
||Chairman and CEO
||Adaptive RFID |
||Alder Associates, LLC|
|Mark H. Friedman
||Real Time Strategy|
||Alder Associates, LLC|
|Luigi A. Peluso
|Robert A. Radcliff
||Resource Development Group |
|Bruce D. Shoger
||President and CEO
||B.D. Shoger & Associates|
|Walter J. Supley, Jr.
||President and CEO
||Creative Advantage, Inc.|
The Radcliff Group can help your Board
of Directors with hands-on advisory and management services. Our advisors are
retained by select clients seeking to achieve top-tier growth rates and
return on investment through improved business design, technology
department, and organizational execution.
Advisors can serve as a valuable complement to your Management Team. In
fact, in today's increasingly complex and competitive marketplace, the
introduction of Independent Advisors and Advisory Boards is helping
companies develop crisp strategies with clear and effective value
propositions in order to deliver a sustainable competitive advantage.
"Corporate Boards and Information Technology …
Talk, Too Little Action"
A new survey of directors at publicly traded companies …
shows that board members are for the most part failing to align IT with
corporate strategy though they know they should. "Directors are aware
of the importance of information technology to their companies' results,
but a significant gap exists between the emphasis the board appears to
place on IT and the steps they are taking to address it.
"Many directors and senior executives blame this gap on
the number of other things that have been hitting the board's agenda
and a resulting lack of time to properly address IT. However, this
excuse is becoming less credible given the growing importance of IT."
Twenty-two percent of directors blamed IT at least
partly for failure to achieve business goals.
A day spent with an independent advisor can save a
fortune on bad decisions made with good intentions - when the entire
management team is looking at all the same internal data, but lacks a
broader outside perspective.
From... A Study of 20 Companies
Lessons learned... Mike Radcliff's top-ten list
- Benchmark - find out what is world-class.
- Focus on quantifiable business outcomes.
- Reengineer for implementation.
- Design around enterprise customer/supply-chain model.
- Insist on full-time and diverse teams - getting the right people will be the biggest hurdle.
- Anticipate and address change impact early. You will underestimate training requirements.
- Start small. Implement early. Learn by doing.
- Compress the schedule. Don't allow time to admire problems. Force decisions and forward momentum.
- Unwavering commitment of top management is essential.
- Attitude wins!