Board meetings are where key decisions are taken regarding the direction, policies, and operation of a company. Board meetings are an excellent way for directors to stay on the latest on the business in general and ensure that the company will attain its objectives.
It is crucial to look over all relevant reports and updates prior to any deliberation or decisions are taken. This includes financial statements as well as customer feedback surveys and any other relevant data that could help inform the decision of the Board.
This information should be sent to all board members in advance to ensure any questions or concerns can be addressed prior to the board meeting. This is especially beneficial for committee chairs who are present in order to reduce the time spent at the board meeting.
The distraction of new topics of discussion during a board meeting is a massive waste of time and distracts board members from the most important agenda items. To prevent this, a lot of boards have a “parking lot on their agendas, where they can block off-agenda topics for later consideration to ensure that the main agenda items are first addressed.
A dynamic and thorough agenda and sticking to it consistently will show that the board and committee members and their opinions are respected. Taking the time to create an effective agenda will ensure that the meeting starts on time and end on-time, leaving attendees with a positive feeling about the Board meeting experience.
