An Advisory Board is a group of individuals who provide guidance and expertise to an organization, often without formal authority. These members typically have experience in relevant fields and offer insights on strategy, operations, and industry trends. Their role is to support decision-making and help the organization achieve its goals.
Unlike a board of directors, an advisory board does not have legal responsibilities or voting power. Organizations may form advisory boards to gain access to specialized knowledge, enhance credibility, or foster connections within their industry. This structure allows for flexible and informal discussions that can lead to valuable recommendations.