It’s important that you know the ins-and-outs of board meetings, no matter if you’re a member of your executive team or chair of your board. These procedures can help ensure that your meetings are efficient and that crucial information is recorded and discussed.
Minutes of the Meeting
Minutes are a critical component of any board meeting and provide a official record of the discussions as well factors that influence professional ethics and decision making as resolutions, votes, and discussions that the board has taken. They permit the board to review their decisions at any point, and are often mandated by investors, law enforcement, or other stakeholders.
Setting the Agenda
The most important thing you can do to prepare for a successful board meeting is to establish the agenda in advance of time and then send it to all attendees together with any other relevant documents prior to the meeting. This will allow them to be familiar with the topic and prepare questions and remarks. It will also help prevent the meeting from going over by ensuring that you cover everything on the agenda, and end the meeting on time.
Begin with the key issues
The first step in your board meeting is giving a general overview of your company, and then proceed to discuss future strategies and policies. This will make the board energized and engaged in the meeting, and will ensure that the most important discussions take place first. Remember that topics that are not scheduled for discussion can be discussed during the meeting if the chairman grants permission and the majority of Directors are present.