What is a Board Meeting?
A Board Meeting is a bi-annual or annual meeting where the board of directors of a firm evaluates its previous performance and engages in discussions about strategic matters, and then approves actions plans to aid in the growth. The board of directors review reports on financial, human resources and management in order to decide on the direction the company should expand.
The agenda is designed ahead of time prior to the board meeting so that there is an intelligent discussion on key issues as well as a clearly defined timeline for each item. A boardroom software program like Lifesize’s OnBoard will ensure that discussions are focused and efficient, allowing you to maximize the time available for each discussion.
Start with the most important items first and then work your way backwards. This will help keep the members from being overwhelmed by lengthy reports and other items that aren’t relevant to the discussion. Ideally, most of the meeting should be devoted to discussing strategies and strategies to advance.
Once the board has deliberated and decided on a plan of action, it’s time to vote. This is done via an unofficial ballot, with the Chairman overseeing the process of voting and counting the votes. Transparency and objectivity is important, so it’s crucial to have a neutral observer the voting process. It is important to have an independent board member who isn’t associated with your business.