In this spotlight, CopperFox Managing Partner Robert Erskine covers off what an advisory board is, how it's different from a board of directors, and how an advisory board can help build better business.

So, what is an Advisory Board?

An advisory board is a structured and collaborative method for organizations to engage with external advisors. Advisory boards act as a sounding board for either the owners, directors or shareholders of a company.

Advisory boards are useful in scaling businesses as well as larger entities like emerging corporates, multinationals, non-profits, academia and government. A well structured advisory board with best practice principles allows people in the organization to test their strategic thinking and access expertise or connections that may not be readily available via other means.

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