The Board of Advisors is an external committee appointed to guide, counsel and advise a company’s CEO. It is particularly useful in start-up and small companies. Advisors from different disciplines can be appointed in order to provide a complete expertise and broader knowledge management. The Board is relatively easy to create, expand or decrease in order to meet the needs of the company. Members of the board can be recruited to serve only as long as they are needed and can be easily replaced.