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wheel" phenomena associated with b-school BACs. Handpicked by a business school administration, this group of business A s a former dean, I've worked closely with business advisory councils (BACs) and know how important they can be to the health, wealth, and well-being of a business school. With advisory councils so important to a school's development, it's surprising that so little has been written to help reduce the amount of "trial and error" and "reinvention of the leaders can serve as a veritable wellspring of information. In fact, BACs can be so influential that programs or projects can live or die based on their counsel. A BAC can become an invaluable source of informa- tion, one that offers input on recruitment trends and curriculum; feedback on academic programs; networking opportunities; student internship and job opportunities; and even financial support for scholarships, buildings, and programs. It can be, in short, indispensable. Whether an advisory council works wonders for a business school or sim- by Patricia M. Flynn ply wilts on the vine, however, depends on how well it is created and man- aged. Only with time, effort, and proper planning will a BAC fulfill its poten- tial and purpose. Select the Best At the heart of any BAC is, of course, its membership. An institution's goals for the future should play a large part in determining who sits on its BAC. The first questions a dean must consider are straightforward. Why are you creating an advisory council? Do you want to form more business contacts or bolster your school's visibility? Do you need to find help for fund-raising or secure more internships and opportunities for students? Although it may seem that a good BAC should include the best and bright- est that the business community has to offer, that's only half the equation. The other half rests on what an institution wants to accomplish. If a school's goal is to become a leader in finance or technology, then its BAC should include CFOs or CTOs, in addition to some general managers. If fund-raising is a priority, then business leaders with a wide range of influence may make the best mem- bers. A BAC membership should be diverse, but it also should represent the needs of an individual school and its stage of development. Diversity, too, has its limits. While it's important to avoid being too selec- greatest assets. tive—a school risks hindering its goals for diversity and the scope of member- ship participation—it's also important to aim for members who will consider themselves "peers," in company sizes and titles. The chairman of an entrepre- neurial startup and the vice president of a Fortune 1000 company could work well together; the CEO of a Fortune 100 firm and the senior vice president of a community bank may not. I had the luxury of creating my BAC from scratch. I handpicked people with whom I had prior affiliations and whom I trusted. When a new dean comes to a school with a council already in place, he or she does not have the same option. In this case, it's important that the new dean and the former dean go through the membership, discussing the strengths of each person and what he or she contributes. But whether a dean is establishing a brand-new council or BizEd NOVEMBER/DECEMBER 2002 41