The board of directors is an essential decision-making body that oversees the company’s performance and strategic direction. To make informed decisions, it’s important that the board stays in contact with key executives of the business and is current with relevant reports and information. Board meetings are a great way to do this.
Teleconferences are becoming more popular, since a rising number of people work remotely. The time of meetings can vary from a couple each year to a monthly meeting.
When you are preparing for your next board meeting, you should consider disseminating a portal that contains the latest board materials as well as pre-saved agendas to help your directors quickly find what they need and focus on the most important discussions. Encourage peer discussion before the meeting to address any concerns or questions so that the time can be used to discuss strategy rather than going through a long list of reports.
Board members typically spend the majority of their time discussing performance of the organization – going over any major developments since the last meeting and discussing key performance indicators (KPIs), and exploring the future strategies. The board can also review and approve a list of old or new business items. The board will close the meeting after all this.
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