A board of directors meeting allows your company to evaluate the current state of the organization and discuss new policies to be implemented. This permits important discussions to be conducted on things that could cause problems. However, it is vital to keep discussions on track and focus on the main points. It is equally important to encourage your board members to be involved in the meetings and allow them the chance to speak freely and share their views.
In the beginning of the board meeting the presiding officer starts by reviewing all participants and ensuring that a quorum is present. Then, they review the agenda at a high-level and approve the previous minutes of the meeting.
The next portion of the meeting focuses on examining key performance indicators. These could be simple things like net promoter scores regional sales, regional expenses and revenue over a specific financial period. Having these KPIs in place helps your board members assess the company’s performance over time and determine if they are moving in the right direction or if drastic steps should be taken.
After reviewing your current business situation the board will work with you to devise strategies for the future that will allow your company to expand. This can be accomplished in a number of ways, including discussing future projects and strategies, policies or plans during the meeting, or through a series or interactions outside of the boardroom like breakfast meetings every week as well as monthly lunches, twice weekly phone calls, or even informal emails.
Add Your Comment