Definition of Advisory Board

An Advisory Board is a group of external advisors that provide advice to an organization.
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An advisory board does not have the same responsibilities as a Board of Directors and is more informal.

Some advisory boards convene monthly and others convene quarterly or annually. The advice provided by advisors may cover everything from strategy to marketing to operations.

Many businesses claim that forming an advisory board has been very helpful in growing their businesses. Advisors provide good advice but also get engaged in the business and may bring new sales opportunities, investors and other good things to the table.

Advisory Board References On This Site

These Gaebler.com articles mention this glossary term:

• Business Ethics - The advisory board's job is to research existing business codes of...
• Benefits of an Entrepreneurship Degree - If one does not indulge in studying market analysis; long-term strategies; establishment of a management team; evaluation of risks and contingencies; legal strategies; advisory board utilization; etcetera, students may never get a chance to...
• Business Ethics - The advisory board's job is to research existing business codes of...
• Interview with Tatango Founder Derek Johnson - In addition, we have an advisory board of nine volunteer members that advise us on legal...
• Management Team Tips for Business Plans - In other words, make an effort to recruit recognizable and reputable Advisory Board An advisory board is a small group of business and/or industry...
• Management Team Tips for Business Plans - In other words, make an effort to recruit recognizable and reputable Advisory Board An advisory board is a small group of business and/or industry...
• Benefits of an Entrepreneurship Degree - If one does not indulge in studying market analysis; long-term strategies; establishment of a management team; evaluation of risks and contingencies; legal strategies; advisory board utilization; etcetera, students may never get a chance to...
• Interview with Tatango Founder Derek Johnson - In addition, we have an advisory board of nine volunteer members that advise us on legal...