Actions and Detail Panel
Board Development | Why, How and What Type?
Wed, May 17, 2017, 11:30 AM – 1:30 PM CDT
Every business, regardless of size or structure, should consider developing an advisory board.
Should they be a Board of Directors? or a Board of Advisors? or something different? What's the difference?
How do run effective board meetings? Who should be on your board?
A board of directors has a fiduciary responsibility to the company. They can be liable for mistakes (accounting and otherwise) that a company makes. So it's tough and expensive to secure board directors. But advisory board members don't have fiduciary responsibility, and thus cannot be held liable. Hence their compensation (if any) is a fraction of what a board director receives.
Further, board directors have an obligation to the company first, and the CEO second. It's the opposite with advisors—the CEO/"advisee" comes first.
Which may be right for your organization? And how to set one up.
Join us for a high-level, informative discussion with area business owners, led by 3 local executives with a wealth of experience.