Question

Convey an advisory board for a startup that has recently opened a branch in your city. Explain how you would go about doing this, and discuss five different roles that would be required on the advisory board. Discuss also the skills that would you be looking for in the board members.

Answer 1

The importance and the purpose that is being played by the Advisory Board is to ensure and provide the effective communication and solutions to the business facing problems in their legal and societal actions. The main action and the role is to make sure to not make the decisions but to increase the confidence for the decision making process. To implement the same advisory board, the first action is to have the designated roles and the responsibilities to make sure the people have the right authority and the duties to perform and the work is divided accordingly as per the specialisation to make sure the same advisory board is having and doing the right operations to help the business organisation.

The 5 important roles and responsibilities that has to be within the Advisory Board are:

1. Board of the Chair: The first important role of the Advisory Board is the Board of the Chair. The head of the Advisory Board has to the maintain the regulations and ensure that the Advisory Board is working as per the standards set for the management.

2. The Internal Analyst: Another important role is the Internal Analyst. The Internal Analyst would help the advisory board to ensure that the internal management of the company who is seeking the advisory board helps in knowing that the internal operations are being effectively implemented to take the decisions in the organisations.

3. External Analyst: The external analyst in the advisory management would ensure that the company seeking the help of the advisory board is being adviced on the External affairs and the environmental analysis of the company. The effective activities and the decisions taken according to the external affairs are taken by this role.

4. Controlling Manager: The controlling analyst or the controlling manager in the Advisory Board would ensure that the board is working as per the regulation and the norms set by the law and the firm to make sure the activies are ethical and legal in the performance.

5. Regulation and Operationist: At last, the Operational manager and the Regulation analyst would ensure that the operations in the company that are being given to other firms are effectively delegated, outsources and adviced to other companies by knowing and having the full information about the finance and other important issues.

Skills which are effectively required for the roles and responsibilties that has to be played in the organisation as per the Advisory Reguation and Board are:

1. Communication Skills: The first important skill being required by the advisory board members is the communication skills. You have to make sure the people are effectively listening, communicating and responding to the things are the tasks being discussed about.

2. Decision Making Skills: Another relevant skill that is being required by the company is the decision making skills to make sure the right decisions are being taken as per the company's situation which are not baised and also for the positive and full for company's operation's success.

3. Environmental Information: At last, the people of the advisory board should be well informed of the technicalities, the regulations, the environmental norms, the legal issues and every other important environmental information regarding the issue for which the advice is required.