To make strategic decisions, you will require the wisdom, experience and influence of your board members, regardless of whether your company is growing or stagnating. To make that happen you need board meetings.
A board meeting is an official gathering of the most senior managers of a business or non-profit. The top managers are selected by corporate stakeholders, directors to oversee all aspects including performance and policy.
The board is regularly scheduled throughout the year to review the performance and policies and also discuss opportunities and new ventures. Traditionally the board meets in person — but increasingly, companies are conducting their meetings via remote.
It’s important that each meeting is conducted with a certain tone. Board meetings should be focused and informative with no room for off-topic chatter. It’s also a good idea to highlight a recent achievement story or achievement that will inspire the participants in the opening remarks.
Once everyone is there, it’s time to get down to business. Board members are expected to discuss any issues they require attention and evaluate the pros and cons of any new business opportunities. Having a discussion-based structure to this part of the meeting enables members to share their unique perspective and knowledge of each problem.
After settling any old issues, the board chair announces the new business and encourages discussion. Keep the discussion focussed on the strategic issues that will help your organization grow.