board-advisory

Vocabulary Word

Definition

A 'board-advisory' is a group of people who are experts in certain areas. They provide advice and support to a company, a little like how a study group helps you understand a difficult subject.

Examples in Different Contexts

Board advisory in corporate governance refers to the role of advisory boards in providing strategic advice and guidance to the management team. A corporate executive might say, 'Our board advisory committee plays a crucial role in shaping our strategic direction and ensuring sustainable growth.'

Practice Scenarios

Academics

Scenario:

Our computer science program is outdated. It's crucial to incorporate industry trends to ensure our students are future-ready.

Response:

We should get the advisory board's perspective on upgrading our computer science curriculum.

Startup

Scenario:

We are struggling to penetrate the market with our current product features. There's a need to reassess our strategy.

Response:

It might be beneficial to seek advice from our advisory board about a possible pivot in our product strategy.