A board of directors meeting allows your company to review the state of the organization and discuss new policies that need to be implemented. This allows for crucial discussions to be had about issues that could lead to problems. However, it is vital that discussions stay on track and focus on the primary issues. It is equally important to encourage your board members to be involved in the meetings, and to give them the opportunity to speak freely and share their views.
In the beginning of the board meeting the presiding officer begins by reviewing all presenters and making sure the quorum is present. They then go over the agenda at a high-level and then approve the minutes of the meeting.
The next section of the meeting is focused on reviewing key performance indicators. They could be as simple as things like net promoter scores regional sales, regional costs and revenue over a certain financial period. Having these KPIs in place can help your board members to see the company’s performance over time and determine if it’s moving in the right direction or if drastic measures need to be taken.
After assessing your current business situation Your board will work with you to come up with strategies that will help your company expand. This can be done in a number of ways, such as discussing future initiatives or policies at the meeting, or through a series of meetings outside the board room like weekly breakfast sessions and monthly lunches, two times each week telephone calls, or even informal emails.