A board meeting can be an important time for a business, so it should be productive and efficient. Making sure there is a clear agenda, and keeping the discussions on topics that are relevant will maximize the value of every minute spent at a board meeting. Focusing the discussion can help to avoid distractions like incessant and ineffective side discussions.
In a typical meeting the first step is to ensure that a majority of board members are present. The chairperson or designated board member takes attendance and then checks the list of attendees. This allows for any changes to the quorum and an accurate record of who was present at the meeting.
Next, various reports are presented to the board of directors. This includes reports from committees as well as executive reports and financial updates. In this phase the board reads and debates these reports to make informed decisions on what the company needs to do going forward. It is typical for these reports to be examined prior to the meeting and then approved by directors via email or phone. This allows for faster processing during the meeting and ensure that all members are aware of the content.
After going through all reports It’s time to discuss strategies that can aid the growth of the company and reach its goals. These strategies should contain key performance indicators (KPIs) which will allow you to assess their success. These KPIs must be measurable, aligned with the goal of the organization, applicable and realistically feasible.