The Director's & Officer's Guide to Advisory Boards

By Robert K. Mueller | Go to book overview

2
DRIVING FORCES

Two strong forces are creating a new wave of corporate interest in advisory boards. The more acute force is the D&O liability insurance crisis discussed later in this chapter. Complexity of doing business, a chronic trend, is increasingly significant and is forcing companies to seek outside counsel. While reignited interest in corporate advice squads is driven by these current pressures, many of the boardroom issues are old. Before examining the recent liability insurance issue, the impact and nature of the basic issues need to be reviewed in their current context.

During the 1900s, environmental challenges increased substantially. Technological turbulence, saturation of first-generation industries, emergence of new industries, multinational markets, government markets, leisure markets and technology-created industries challenged traditional ways of doing business. Late in the twentieth century, sociopolitical impacts, developing world markets, loss of control over the environment and socialist markets became issues of primary concern. 1 These trends are further explored in Chapter 7. These environmental and contextual changes and the resulting turbulence increased the need for corporations to be more aware of external forces. The governance role embraced linkages with and sensitivity to these outside forces. Outsider advice has, indeed, become more relevant and necessary. This need for external perspective impacted boardrooms by changing criteria for directorship.

The Korn/Ferry International Thirteenth Annual Board of Directors Study ( February 1986) revealed some disturbing facts in the 592 responses it received from United States companies in a wide array

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The Director's & Officer's Guide to Advisory Boards
Table of contents

Table of contents

  • Recent Titles from Quorum Books ii
  • Title Page iii
  • Contents v
  • Tables and Figures vii
  • Preface ix
  • Introduction 1
  • 1 - Advisors Unlimited 9
  • Notes 26
  • 2 - Driving Forces 27
  • Notes 35
  • 3 - Counseling Versus Consulting Versus Mentoring 37
  • Notes 41
  • 4 - Role of an Advisory Board or Council 43
  • Notes 64
  • 5 - Activity and Societal Scan 65
  • 6 - Species of Advisory Boards 77
  • Notes 88
  • 7 - Weak-Signal Governance/Early Warning Advisory Systems 89
  • Notes 101
  • 8 - Advising Non- Profit-Seeking Versus Profit- Seeking Organizations 103
  • Notes 108
  • 9 - Care and Feeding of Advisory Boards 111
  • Notes 121
  • 10 - Insurance, Indemnification, and Contractual Matters 123
  • Notes 134
  • 11 - Advisory View of Corporate Strategy 135
  • Notes 148
  • 12 - Advisory Board Perspectives: Stakeholder Strategy 149
  • Notes 170
  • 13 - The Power of Advisory Board Networks 173
  • Notes 187
  • 14 - Advising the Family Business Board 189
  • Notes 201
  • 15 - Cultural Realities Facing Advisory Boards 203
  • 16 - Advising on Nonprofit Trusteeship Pathologies 223
  • Notes 240
  • Appendix ADVISEE SEARCH: GETTING INVITED TO SERVE AS ADVISOR 241
  • Notes 255
  • SELECTED BIBLIOGRAPHY AND REFERENCE READING LIST 257
  • Index 263
  • About the Author 279
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