A board meeting is an important time for a business, so it should be efficient and productive. A clear agenda and focusing the discussion focused on the relevant issues will increase the value of every minute spent at a board meeting. Keeping the discussion focused can stop distractions like rambling or unnecessary side conversations.
In a typical board meeting, the first step is to ensure that the majority of board members are present. The presiding member of the board or officer is the one who takes attendance and then checks the list. This allows for adjustments to the quorum, as well as an accurate record of all who attended the meeting.
Next, various reports are presented to the board of directors. This includes committee reports as well as executive reports and financial reports. During this phase the board examines and debates these reports to make informed decisions on how the company can move forward. The reports are usually examined and approved by email or telephone by the directors prior to the meeting. This allows for faster processing during the meeting and ensure that all members are familiar with the content.
After reviewing all reports, it’s time to consider strategies that will help the company grow and meet its goals. These strategies should be followed by key performance indicators (KPIs) to assess their success. These KPIs should be measurable, aligned to the organization’s goal and applicable and realistically feasible.