|Title||Peer Advisory Boards: Entrepreneurs Learn Best from Each Other|
|Content Language||English (en)|
|Date Of Publication||2006|
|Description||The paper explains that a Peer Advisory Board is a carefully selected team of like-minded colleagues who provide crucial advice, accountability and guidance to each other on a regular basis. It operates much like a self-designed group mentoring program, offering the wisdom of many and being held-accountable to the team.
The paper states that to understand the power and relevance of the concept, it is worth considering the many challenges a bank or a small business leader faces. Common challenges include:|
The rationale behind the Peer Advisory Group is that business leaders have access to a multitude of people that have come to know, trust and value each other. They share their experiences with similar situations, discuss what did and did not work, and envision new ideas and resources. All work together over time to track progress and drive results.
After expanding on the purpose of a Peer Advisory Board, the paper discusses the benefits of a peer advisory board using examples of how they have helped management in the past. The paper also sets out the eight main steps to setting one up, including a quality checklist. Finally, a sample agenda for Peer Advisory Group meetings is given as well as a sample of meeting minutes and progress tracking.
- meeting the double bottom line of economic development and profitability;
- maintaining effective HR intensive processes;
- establishing a strong middle management; and
- developing a management information system (MIS) and infrastructure that adequately support the organisation.
|Number of Pages||10 pp|
|Edition||Exchange Notes Series|
|Keywords|| MENTORING, ADVISORY GROUPS, MANAGEMENT|