The board of directors is an important organ that makes decisions and oversees the performance of the company and its strategic direction. To make informed decisions, it’s important that the board stays in contact with key executives of the company and keep up-to date with pertinent reports and data. Board meetings offer the chance to accomplish this.
Teleconferences are more and more common as a growing number people work remotely. Meetings can be held frequently, as often as every week or twice a year.
Consider the possibility of distributing a portal with the most recent materials for board members and also agendas that are saved for meetings. This will help directors focus on the most important discussions and locate the information they require quickly. Facilitate a pre-meeting discussion with your fellow directors to have any questions or concerns addressed so that the meeting time can be used to discuss strategies instead of examining an endless list of reports.
Board members spend the majority of their time discussing organizational performance and reviewing any major changes since the last meeting, discussing key performance indicators (KPIs), and exploring possible strategies for the future. The board can also go over the list of new or older business items that require to be approved before taking action on these items. After all of this, the board will usually close the meeting.