Governance

Building a Foundation of Governance Excellence

Strong governance is the bedrock of any successful organisation. At Bellingham Wallace, we understand the importance of ethical decision-making, compliance, and risk management.

'Good governance sets the standards. Standards are what you stand for. If you don’t stand for something, you stand for nothing.'

Our governance advisory services help you establish robust frameworks that enhance transparency, accountability, and integrity. With our expert guidance, you can confidently navigate regulatory requirements and achieve excellence in governance.

The Role of Your Advisory Board

An advisory board is a group of experts who provide guidance and support to a company or organisation. They can help you set goals, develop strategies, and make better decisions.

The specific responsibilities of an advisory board will vary depending on the company and the board's composition. However, some common roles include:

Establishing and monitoring the company's goals and strategies. An advisory board can help you ensure that your goals are clear, achievable, and aligned with your overall business plan. They can also help you track your progress and make adjustments as needed.
Providing guidance on key business decisions. An advisory board can offer their expertise and insights on a wide range of issues, from product development to marketing to financial planning.
Identifying and recruiting new talent. An advisory board can help you connect with top talent in your industry. They can also provide guidance on your company's hiring and onboarding processes.
Acting as a sounding board for new ideas. An advisory board can provide a safe space for you to discuss new ideas and get feedback. They can also help you test and refine your ideas before you implement them.

If you're considering forming an advisory board, there are a few things you'll need to do:

Identify the right members. Your advisory board should be composed of people who have expertise in your industry and who can offer valuable insights.

Set clear expectations. It's important to set clear expectations for the advisory board, including their roles, responsibilities, and frequency of meetings.

Communicate effectively. The advisory board needs to be kept informed of the company's progress and challenges. Make sure you communicate regularly with the board and keep them up-to-date on your plans.

How's your Governance game?

If your business involves importing and distribution this quick test will show you how your systems and processes stack up against industry best practices. Take the test, then give us a shout. We'll work with you to lift your Governance game and compete in market.

Take the Test

Seven critical reasons you need to establish an advisory board

Strategic Guidance

An advisory board offers valuable strategic guidance and insights based on their diverse backgrounds, expertise, and industry knowledge. They can help the management team navigate challenges, identify opportunities, and make informed decisions regarding the company's direction, growth, and competitive positioning.

Industry Expertise

Advisory board members often possess extensive industry experience and knowledge. Their insights and understanding of market trends, customer preferences, and industry dynamics can assist the business in staying current and relevant. They can provide guidance on emerging technologies, best practices, and industry-specific challenges, helping the company stay competitive and adapt to changes.

Networking & Connections

Advisory board members typically have well-established networks within their respective industries. Their connections can be valuable for the business in terms of potential partnerships, collaborations, access to key resources, introductions to potential customers or investors, and opening doors to new opportunities.

Access to Specialised Skills

Advisory board members bring specific skills or expertise that complement the existing management team. This could include areas such as finance, marketing, legal, technology, operations, or international business. Having access to specialised knowledge can enhance the company's capabilities and support its growth objectives.

Independent Perspective

Advisory board members provide an external and independent perspective on the company's operations, strategies, and challenges. They can offer unbiased feedback, challenge assumptions, and provide fresh insights that may not be readily available within the internal team. This helps the management team avoid potential blind spots and consider alternative viewpoints.

Mentoring & Development

Advisory board members are mentors to the management team and key executives. They can provide guidance, share their experiences, and offer advice on leadership, management practices, and personal development. This mentorship can help groom future leaders within the organization and foster professional growth.

Credibility & Reputation

Having reputable and well-respected individuals on the advisory board can enhance the company's credibility and reputation in the industry. It can provide confidence to stakeholders, investors, customers, and partners that the business has access to high-caliber expertise and is committed to strategic thinking and long-term success.

How We Can Help

Our team of experienced professionals will establish, operate, and chair your advisory board meetings, leading or supporting the discussion as appropriate. We'll plan and implement a regular meeting schedule that best suits your business, and we will prepare and distribute agendas, minutes, and actions.

You'll get regular advice and recommendations issue by issue, not just a list of options leaving you to make the decision. Based on your requirements we'll connect you with skilled subject matter experts across our network as and when business needs arise. And together, we will review the advisory board's performance to ensure it continually evolves to help you achieve your goals.

and that's not all:

We have a deep understanding of the advisory board process and can help you get the most out of your meetings.
We are experienced in connecting businesses with the right people, so you can get the advice and support you need to grow your business.
We are committed to providing you with high-quality service, so you can be confident that your advisory board is meeting your needs.

Within the construct of the 5 core agenda items, other common topics are operational excellence (system and processes review, manufacturing productivity and KPI’s), role clarity (roles/responsibilities/process and functional accountability’s KPI’s), organisation structure and leadership team effectiveness, bank funding, delegated authorities (to speed decision making), sustainability strategy, new product development (NPD), existing product development (EPD), manufacturing best practice, treasury policy / FX hedging, customer segmentation, sales and product mix based on sales analysis review (customer & product sales and GP versus budget), marketing (SEO / SEM / Web / Campaigns), stock file analysis (stock turn), procurement (supplier terms and supply chain management), industry/business benchmarking, monthly reporting format/structure and team remuneration (particularly where remuneration is performance incentivised).