Board meetings can help companies meet their goals because they keep in touch with other directors and ensure they make informed decisions. Board meetings are time-consuming and requires meticulous planning and follow-up.
A well prepared agenda, accompanied by an executive summary or presentation is the basis of productive discussions. It should strike a balance between reviewing past performance and preparing for the future. It should also include aspects that relate to day-to-day management however, it shouldn’t be too heavy.
Ideally, the agenda and board packs should be sent out in advance so that the members have time to prepare. This will prevent delays, and ensure that the most important issues get enough time for discussion. Less critical issues are then put off.
A board meeting that’s effective requires an open and inclusive environment where all views are valued. To attain this, it’s essential to promote active participation by reaching those who may not be able to speak as often.
During the board meeting the board members will talk about their opinions on the most pressing business issues and debate possible alternatives. The chair of the board should invite all board members to take part in these discussions. Visual project management tools like SWOT analysis or decision matrices can help improve clarity and encourage participation by the board. It is essential to conclude the meeting with an overview of the key decisions and assigning action. The information will then be entered into the portal for board members so that all relevant stakeholders are updated about the decision made at the meeting.