The purpose of an effective board meeting is to take informed decisions that drive the company forward. To accomplish this, board members should work collaboratively to prepare for meetings. They should go through documents and reports, provide feedback, and address any questions. They should also engage thoughtful debate on the strategic issues. This should include an in-depth review and analysis of existing strategies, and a plan for the future.
A productive board meeting begins with a clear agenda. It should be distributed to participants in advance of the meeting, and include all items for discussion (e.g., the board package, past minutes and policies proposed and committee reports). Providing these materials early will help participants prepare for the meeting, prevent the hassle of searching for relevant information during the meeting, and ensure that all important issues are covered.
After the board has discussed, reviewed and acted on reports and other information, it’s time to take decisions. This is where the authority of the board is. During this part of the meeting the board will debate and decide specific steps that must be taken to meet the goals of the company. The chair should also conduct a roll call to ensure that a quorum exists, and to ensure that all members are participating in the discussion.
It is beneficial for the board to have experts from the organization in decision-making processes. A sales representative or someone from the engineering team could provide an update on a new product or an employee of the engineering department can explain the latest major win. This will provide an innovative perspective to the discussion and spur productive discussions. It’s also recommended to invite external speakers to help the board gain additional insights into relevant our website topics.