A Board Meeting is an annual or bi-annual event where a company’s board of https://boarddeluxe.com/ directors evaluates the organization’s past performance, engages in strategic discussions and approves plans of action to support the growth of the business. The board of directors typically examines reports on financials and management, human resources and other areas, to decide how the business will grow in various departments or expand into new territories.
The agenda is designed well in advance of the board meeting to allow for an intelligent discussion on key issues and a clear timeline for each item. A boardroom solution such as Lifesize’s OnBoard ensures that discussions are focused, efficient and maximize time for each discussion.
Start with the most important items first and then move on to the next item. This will stop members from being overwhelmed by lengthy reports and other topics that are not relevant to the discussion. Ideally, the majority of the meeting should be dedicated to discussing strategies and ways to move forward.
Once the board has deliberated and decided on a course of action it’s time to vote. This is done via a secret ballot with a Chairman overseeing the process of voting and counting the votes. Transparency and objectivity are crucial as well, which is why it’s essential to have a neutral observer of the voting process. It is also helpful to have an independent director who isn’t associated with your business on the board.