A successful board meeting is a crucial aspect of good governance. It’s where the Board of Directors comes together to discuss and decide on company-critical issues, and ensure that the company is moving in the right direction. It may seem difficult however, there are simple guidelines to follow that will enable you to conduct productive meetings and make informed decisions.
It is crucial to prepare beforehand and share the agenda with everyone prior to the meeting. An organized agenda will outline key topics to be discussed and will allocate a reasonable amount of time for each discussion. This will help prevent meetings from getting off-topic, becoming too repetitive or turning into an exclusive forum for a few people to contribute instead of an open dialogue that is shared by the all members of the Board.
Prioritize two important concerns that must be addressed at each meeting. This is a common best practice that allows discussions to be focused and reduce the number of items to be reviewed during the meeting. It also allows for discussion and a decision to take place around every issue, not only updating. The book for the board allows easy sharing of updates and a small amount of time can be devoted to them during the meeting.
Be clear about the process for deciding. This will ensure that all members are on the same page and can comprehend the decision-making process. It also sets expectations for the types of discussions to be held during the meeting, such as finding common ground and discussing the various perspectives or resolving disagreements through a voting process.