Board meetings can be long affairs that require a lot of time spent listening to reports and discussing. Based on the way you conduct your board meetings, it is likely that there isn’t much time to make actual decisions.
Making the most of your board meetings requires organization and discipline. This means creating an agenda, establishing a meeting area and distributing relevant materials before the meeting. This allows the board members to prepare for the meeting, study opinions and ask questions. Then when the board discussion begins, they show up with a high level of information and confidence that they have contributed to the end result.
The officer will greet the attendees with a greeting and”welcome. The chair addresses old, new, and other business, in order. Old business consists of items that the board has previously deliberated and voted on or against. New business is anything the board hasn’t discussed before and is presently weighing for approval. Other business concerns non-scheduled issues like naming committee members or announcing the appointment of a director.
Once the discussion is concluded, the chairman puts all motions to a vote. This includes changing the company’s constitution, authorizing certain transactions and taking a vote to confirm previous decisions made by a director. It also involves the decision-making process and the approval of plans of action. It is helpful to set KPIs that are in line with the company’s objectives and are quantifiable to assist your board in deciding on its strategy. These KPIs will be used to assess the effectiveness of the strategies your board is deliberating on.