A board meeting is a crucial event for any company. It must be efficient and productive. A clear agenda and discussion that is relevant will increase the value of each minute spent during a board meeting. Focusing the discussion can stop distractions like rambling or non-productive side conversations.
The first step of a typical board meeting is to ensure that a quorum of board members are present at the meeting. The the presiding officer or a designated board member records attendance and checks the list of attendees. This allows adjustments to the quorum, as well as an accurate record of those who attended the meeting.
Then, various reports are presented to the board of directors. These include committee reports executive reports, financial reports. In this phase the board reads and discusses these reports in order to make informed decisions on how the company should move forward. These reports are typically reviewed and pre-approved via email or telephone by the directors before the meeting. This can help to speed up the meeting by ensuring everyone is aware of the content.
After the review of all reports, it’s time to talk about strategies that can aid the company in its growth and meet its goals. These strategies should include key performance indicators (KPIs) that will allow you to assess their success. These KPIs should be quantifiable, and aligned to the organization’s goals. They must be also realistically feasible.