Board Meetings are where the leadership team of a company, comprised of directors as well as senior executives discuss the company’s performance, progress, and goals. They also decide on major policy issues and strategic directions.
The board usually discusses the business performance of the prior quarter and compares it with the targets set by the management. The board also addresses any issues that may have arisen during this time. The board members then share their expertise on how the business will overcome these obstacles. The board will also discuss potential business opportunities that are presented them. Participants will be able to weigh in on the advantages and disadvantages of each opportunity and how much it will cost to invest in, and how it could impact the company’s financial performance.
It is essential to explain clearly the manner in which decisions are made during a board session and if they will be made by consensus or via voting. This will ensure that everyone on the board are involved and able to contribute their ideas.
When it comes to evaluating how the board is meeting, having a system that helps to collect feedback can be a useful tool to improve future meetings. This can be accomplished by asking members of the board to rate the effectiveness of the meetings at the beginning and at the end of every meeting, or via an option in the middle of the meeting. This way, leaders can use feedback to alter future meetings, making them more productive for all.
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