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Hi ,
Wherever you are in the world, we hope this newsletter finds you well. In this edition, we take a look at the rapid increase in the utilisation of advisory boards by government bodies, and how they are addressing topical areas of importance with subject-matter experts. We share a recap of our most recent executive insights webinar on investing in innovation, and a callout for applications for our latest Female Founders scholarship.
If you have a question about advisory boards, be sure to check
out our FAQ articles or simply reach out and ask us!
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T H O U G H T L E A D E R S H I P
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Advisory Boards in the Government Space
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Advisory Board Centre | 5 min read
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With global volatility at an all-time high, critical issues and emerging trends are being highlighted for local communities, continents…and everything in between. As matters come into focus, the need for investigator-led research has never been greater, whether it’s to fill a gap, meet a need, or make a change.
Advisory boards are stepping into the light to play an important role in shaping government programs and policies that are under public scrutiny when it comes to managing stakeholder interests. With the likes of the United States, Canada, United Kingdom, Singapore, and Australia recently forming advisory boards at a local, state, and federal level, powerful groups of problem solvers are playing a role in providing the right advice so that governments can make the right decisions to enable the right changes...
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P R O G R A M A N N O U N C E M E N T
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We are delighted to be partnering with the Queensland Government (Australia) and Advance Queensland to increase the participation rates of innovative female founders in Queensland by sponsoring twelve entrepreneurial and innovative Queensland women to undertake our signature Certified Chair™ Executive Program in 2022. This program will support the development and participation of women at a board level, as well as those who are in the growth phase and need assistance to achieve their ambitions.
The fully-funded Certified Chair™ Executive Program Female Founders Scholarship includes:
- Participation in the Certified Chair™ Executive Program (2-day in-person program held in Brisbane CBD)
- 12-month Professional development and networking as part of the Advisory Board Centre professional community
- Guided support to build your professional profile to participate in committees, advisory and governance boards
Female Founders Program Leader, Jan Easton, shared why she is so proud to be a part of this initiative, "In my experience, female founders are adamant that they do not want special treatment nor do they want existing structures "painted pink" and celebrated as female-friendly. Supporting women in business is not a women's issue - it's a business issue."
Applications are now open for program dates in August and October with entry closing on 30 June 2022 (or earlier if the program allocation is exhausted). The program is open to eligible participants from across Queensland.
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E X E C U T I V E I N S I G H T S
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Investing in Innovation
Certified Chairs™ Alezeia Brown and Linda Ginger recently shared three advisory strategies to guide innovators and investors to reduce investment risk and increase confidence to invest - and the chance of success. Investing in innovation, however risky, can be transformational for an organisation when done right.
1. "The Power Law"
Also known as the "80/20 rule", which states that most of an investor’s return will result from a small proportion of their investments. To combat risk and increase chances of finding reward, investors must take a portfolio approach of taking as many "shots on goal" as possible.
2. R, D & C Capability
Every type of innovation program requires resources to do Research, Development, and Change (the regularly overlooked piece that often determines whether the investment is successful or not). As a team, advisors and executives need to determine if the business has the right people at the right time to support innovation investment.
3. Access to Capital
There comes a point in most companies’ trajectories where in order to take the next step, they need a capital injection. It's imperative to choose which one
is right for the business, such as client funding, grant money, or venture capital, whilst also recognising their pros and cons.
Key Takeaway
Investing in innovation is not easy, there's always a risk, and there's no guarantee of return, but advisors are there to provide organisations with the best strategies for success. Whether you’re a start-up, big corporate, or member of an advisory board, if you factor the Power Law into your innovation strategy, you’re clear about your execution strengths and where they lie, and you select the pathway to access capital that best fits the business, the
chances of success will significantly improve.
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Coming to Grips with the Seismic Shift in our Work and our Lives
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This CEO says he and other leaders initially misjudged the
lasting changes wrought by the pandemic and the Great Resignation. Here’s how his thinking evolved.
FAST COMPANY | READ MORE →
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Google picks business chiefs for European Advisory Board
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The move comes just weeks after the internet giant announced data sovereignty controls for its Google Workspace service to address the concerns of EU organisations.
THE REGISTER | READ MORE →
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Our Purpose
The Advisory Board Centre is the professional body for the advisory sector. We provide best practice training, certification and connection to support the professionalism, growth and impact of the advisory sector for professionals and the organisations they serve.
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Advisory Board Centre Pty Ltd, Level 4, 260 Queen Street, Brisbane QLD 4000, Australia
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