Board Meetings are regular occasions where the company’s management meets with key stakeholders to discuss business issues of importance. It is essential that the board of director’s remain in contact and on the same page, particularly in critical times such as an M&A deal or an imminent threat. A regular agenda and structure help to ensure that meetings are focused on the most pressing business issues rather than rehashing old news.
The most important aspect of an executive board meeting is the discussion of the organization’s strategic direction. The board should discuss the company’s plans and strategies and create a plan of action to help move forward. It is beneficial to work together to identify any obstacles the company may face and develop an action plan to overcome them.
Committee heads or department heads will typically provide reports to the board during this part of the meeting. These reports can include milestones, financial information and KPIs as well as product roadmaps, progress and organizational performance. This section is usually devoted to discussing future strategies and assessing if the organization is on the right track to reach its goals.
The board will then have to review any issues that remain unresolved or new ones that require formal approval. Based on the particular organization the board may vote on a variety of topics like changing the corporate’s articles of incorporation as well as authorizing certain transactions or ratifying a previous decision of the board. It is essential to make sure that a majority of members are present to vote on the topic.
