A board meeting that is efficient will allow the business to move forward with informed decisions. Board members must prepare meetings in a collaborative manner. They should look over reports and documents, provide feedback, and answer questions. They should also engage in thoughtful deliberation and analysis on strategic issues, including thorough reviews of existing strategies and a plan for the future direction.
An effective board meeting begins with a clear agenda. The agenda should be sent to all participants prior to the meeting, and should include all topics for discussion (e.g. the board package, the previous minutes, proposed policy, committee reports). The early distribution of these materials will aid participants in preparing for the meeting and avoid the hassle of searching for relevant information during the meeting, and ensure that all important points are covered.
After the board has analyzed, discussed and acted upon reports and information it is time to make decisions. This is where the power of the board truly lies. During this part of the meeting, the board should discuss and determine the best actions to be taken to meet the company’s objectives. The chair will also conduct a roll call to ensure that a quorum is present and ensure that all members participate in the discussion.
It is beneficial for the board to include subject matter experts within the organization in decision-making process. For instance, having someone from the engineering department present an update on the latest product, or having a sales representative explain a recent big win can give fresh perspective and help to facilitate productive discussions. It’s also a good idea to invite speakers from outside to provide the board with more information on the relevant issues.
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