An Advisory Board is a collection of individuals who besides their stature and eminence bring unique knowledge and skills which augment the knowledge and skills of the formal board of directors and more effectively guide the organization. The Advisory Board will not have formal or executive authority to govern the organization, i.e. it cannot issue directives which must be followed. Rather, it provides insights, poses challenging questions and make recommendations and/or provide key information and materials to the board of directors.
A properly composed and structured Advisory Board can be a tremendous complement to the effectiveness of the board of directors/ staff as it works to carry out a specific initiative.
Since the Board of Directors has ultimate governance authority for the organization, the Advisory Board is able to focus specifically on identified programs, issues, initiatives etc. and give nuanced and bespoke advice and support to the organization.
The Members of the Advisory Board shall meet thrice in the year and shall provide advice to the Governing Board and the Staff. Each Advisory Board will have a term of three (3) years
The Advisory Board shall comprise of preferably 8-9 members in the aggregate, fulfilling the following criteria:
- EU Ambassador or designated representative
- Consul Generals/Trade Commissioners of EU countries
- An economist of repute and good standing
- Some influential business leaders of Indian and European Companies
- Senior representative with sufficient range of expertise to accomplish the expectations from this Board.
Roles and Responsibilities:
- Assist and provide views and guidance in identifying organisations to partner with and programs to promote and support in furtherance of the objectives of the Chamber.
- Serve as an ambassador of the organization with the business community in India and EU nations; help connect, collaborate and tie up with other similar institutions, business houses and bi-lateral organisations.
- Provide feedback to the organization from the business community, technical expertise, and mentorship in designing and executing programs and activities.
- Support membership development programs.
- Provide “wise counsel” on issues raised by the Chamber and Governing Board Members.
- Funding capabilities – ability to suggest on different means of earning revenue specifically to raise program funds.