What does advisory work currently look like in Austria’s small and medium-sized enterprises and how can companies use the advisory board as an opportunity? The results of a recent study on the topic of “Advisory Boards in Austrian SMEs” by Anne Maria Busch, Ann-Christine Schulz and Markus Scholz were presented for the first time and supplemented with insights from practice by Mag. Monica Rintersbacher (Managing Director of Leitbetriebe Austria).
On 15.02.2019, the fifth Strategy Morning, organized by the Competence Center for Strategy and Competitiveness, took place. This time on the topic “The advisory board as an opportunity for companies”. Within the framework of this event, the results of the study “Advisory Boards in Austrian SMEs” were presented for the first time. The authors of the study are Anne Maria Busch, Ann-Christine Schulz and Markus Scholz. Within the framework of this study, 530 medium-sized companies throughout Austria were interviewed and six in-depth interviews were conducted with entrepreneurs based in Vienna. Particular emphasis was placed on the motivation to set up such a body, the structural design in the company and the relationship between the advisory board and the company’s success. Within the scope of this study opportunities of the advisory board were worked out and concrete recommendations for companies were formulated. The study can be viewed at http://fhw-csc.at/.
How and why the advisory boards for small and medium-sized enterprises is to be seen as an opportunity from a practical point of view was then discussed by Mag. Monica Rintersbacher. She has been managing director of Leitbetriebe Austria since 2012. Criteria for certification as an Austrian leading company are not only sustainable economic success, but also social commitment as well as the responsible use of ecological resources. How an advisory board can support this was discussed in a very lively manner among the participants of the event.
Present business owners directly obtained feedback on planned advisory boards and have exchanged views on ways of improving current advisory work within their company.
Research Cluster SMEs & Family Businesses
Competence Center for Strategy & Competitiveness
anne.busch@fh-wien.ac.at
T: +43 1 476 77 –5761
http://www.fhw-csc.at/