A well-run meeting of the board is a great way to get everyone to agree on difficult decisions and issues. To ensure that meetings are productive it is essential that everyone is on the same level and has had the opportunity to read the materials in advance. This will allow for more discussion and enables boards to make informed decisions that are in the company’s best interests.
Board members are extremely busy and will likely have many commitments to their schedules. This means that it is important to schedule board meetings as early as possible and ensure that all directors have accepted the invitation. It is also an excellent idea to utilize an agenda template for the board so that all directors are able to easily access the materials prior to the meeting.
On the day of the board’s meeting The most important thing is to manage the board’s time effectively. This means making sure that all items on the agenda are actionable, relevant, and that each item contains enough information. It is recommended to give each item a certain amount of time to allow the board to move through the agenda without getting bogged down in discussions that don’t serve a purpose.
It’s also a good idea following each meeting, ask for feedback via an online poll on your board’s portal. This can help keep frustration levels down and prevent problems from boiling over. This will also improve the structure of the next board meeting and ensure that board members are prepared for tough decisions.
Evolving the Corporate Development Function for Sustainable Growth
