Board meetings are important because the decisions taken by your board – which often require a majority or even all members to reach a consensus – have the ability to significantly impact your company. This means you’ll have lots of constraints to work within however, the majority of them aren’t as difficult as you might think.
In general, a successful board meeting requires a lot of effort and preparation prior to the meeting. If your board members do not feel they’re fully prepared, they will struggle to participate in meaningful discussions during the meeting. This could board meeting platform lead to your decision-making process being slowed down or even derailled. To avoid this, it’s crucial to send out your board packs just a few days prior to the date of the meeting.
At the beginning of the meeting, your board chair must review any ground rules with participants (e.g. how long discussions should last, and how to make decisions). This helps everyone understand the rules and creates a positive, productive atmosphere.
Reports are typically presented in the following part of a meeting. These could include financial statements, progress reports or other relevant information. The board chair will then call each member in to ensure that there is a quorum.
During this phase, the board can also examine and discuss the minutes of the previous meeting. Once they’re ready and approved by the board, they can be ratified by them. After that, any updates or announcements that are relevant to the present meeting can be made available for discussion. The chairman can call the meeting or adjourn it.