How to Get the Most Out of Your Board Meeting Process
Board meetings can take up a significant amount of duration, and will require you spend the majority of time reading reports or analyzing them. Based on the method you conduct your board meetings, there’s usually little time to make decisions.
Getting the most out of your board meetings requires structure and discipline. This means creating an agenda, establishing a meeting area and distributing relevant materials prior to the meeting. This will allow your board members to prepare for the meeting, investigate opinions and ask questions. When the discussion begins they will be prepared and confident that they can contribute to the final discussion.
The process of running the board meeting begins by introducing the officer to the attendees. The chair then addresses the old or new issues, in chronological order. Old business includes items that the board has previously discussed and approved or decided against. New business includes things the board hasn’t discussed and is now considering for approval. Other business concerns unscheduled items like naming an advisory committee or announcing appointment of director.
After the discussion has concluded after which the chairman submits all motions to a vote. This involves changing the company’s article of incorporation, approving certain transactions and making decisions that were previously approved by a director. This includes deciding on the best strategies, and approving actions plans. To assist your board of directors determine their strategy, it is important to establish KPI goals that are specific and correlated with the company goal. These KPIs can then be used to measure the effectiveness of the strategies your board is considering.