The main difference between a board adviser and a non-executive director (NED) is the level of responsibility and authority they have within a company. A board adviser is typically a consultant or external expert who provides advice and guidance to the board of directors on a specific issue or area of expertise. They do not have any formal decision-making power or responsibility for the company's operations.
Being a board adviser allows you to provide valuable expertise and insights to the board without the time and commitment required of a non-executive director. This can be a good option if you want to contribute to a company's decision-making process without the added responsibility of being a full-time board member.
Additionally, being a board adviser can be a steppingstone to a non-executive director position. By working as a board adviser, you can gain valuable experience and insights into the role and responsibilities of a NED, which can help you prepare for a future position on the board.
However, there are also some disadvantages to being a board adviser. It might mean that you do not have as much influence or impact on the company's decision-making process, as you are not a formal member of the board, your advice and recommendations may not carry as much weight and you may not have access to the same information and resources as a NED. You may not be privy to the same level of information and data that is available to NEDs, which can limit your ability to provide meaningful advice and guidance.
VOCASO Team
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