If you’re chair of your board or a member of the management team, it’s essential to know the ins and outs of board meeting procedures. These procedures will help ensure that your meetings run efficient and that crucial information is discussed and recorded.
Minutes of Meetings
Minutes are a critical component of any board meeting and serve as an official record of the discussions as well as resolutions, votes, and discussions that the board has taken. They also allow the board to revisit its decisions at any time and could be required by law investors, shareholders, or other stakeholders.
Setting the Agenda
The most important thing that you can do to prepare for an effective board meeting is to establish the agenda ahead of time and then send it to all attendees together with any other pertinent documents in advance. This gives them the opportunity to become familiar with the material and prepare questions and suggestions. This will also stop the meeting from going over the course of time by ensuring that you have covered all items on the agenda.
Begin with the most important issues
The first step in your board meeting is giving a general overview of the company before moving on to discuss future policies and strategies. This will make the board excited and involved during the meeting, and it will ensure that the most important discussions are held first. It’s also important to note that any topics that were not discussed in click to read more the agenda can only be debated at the meeting with the permission of chairman and the approval of a majority of the Directors present at the meeting.