What Are Advisory Groups And Do CEOs Need Them?

Volatility has established a new norm of late in this country and around the world. We can probably pinpoint when it started and the reasons for it, but we can neither control it nor predict its final outcome. The only other alternative is to respond to it more aggressively with more structure and better ideas. That means CEOs and business leaders need better, more immediate advice to the problems they have always faced and the new ones that have reared their ugly heads. Private advisory groups provide armament in this newly-defined conflict.

Private advisory groups exist for the sole purpose of helping you make smarter business decisions. They differ from boards of directors and family councils because they do not vote, nor do they have fiduciary obligations. Often private advisory groups co- exist with a board of directors or a family council, but more often, owners or CEOs join them when neither of the other kinds exists. Private advisory groups can be general in scope or targeted to specific markets, industries, or issues such as adopting new technology or going global.

There are numerous other benefits to the CEO, but click here to see the top five reasons CEOs need Private Advisory groups.

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