CEO and entrepreneurs in difficult times turn to independent advice that can help them see beyond day-to-day operations. They realise family members and other pliant directors of the board can at best help in window dressing (to meet legal requirements) and easily push through their own ideas. They also realize celebrity board members may bring more eye balls and have limited exposure to the company’s business to offer practical solutions. They realize bereft of independent board members they risk myopic decision making, limited perspectives, lack of independent analysis and lateral thinking. They realize in crunch times like these, they need expert and experienced advice on markets, consumers, consumption trends, competitors and business opportunities.

There is no shortage of advice. CEO and senior management would need the assurance the advice is relevant, applicable and manageable given their resources and capabilities at that time.