Board Meetings are the time when the company’s leadership team comprised of directors as well as senior executives, discuss the company’s performance, goals, and progress. They also decide on strategic directions and major policy issues.
The board usually reviews business performance in the previous quarter and compares it to the goals set by the management. The board also discusses the problems that may have occurred during the timeframe, and board members share their knowledge of how the company can address these issues. The board will also consider the new business opportunities that are presented to them. Attendees can weigh in on the advantages and disadvantages of each prospect and the much it would cost to invest, as well as what impact it could have on the company’s financial performance.
It is important to explain clearly the manner in which decisions are made during a board meeting, including whether they will be made by consensus or via voting. This will ensure that all board members feel involved and contribute their ideas.
Feedback from a check that process is a powerful tool to improve meetings in the future. This could mean having board members rate the effectiveness of meetings at the beginning and at the end of every meeting, or in a mid-meeting vote. This way, leadership can make use of feedback to make changes to future meetings, which will make meetings more productive for everyone.