The board of directors monitors the strategic direction and performance of the company. To make informed decisions, the board needs to stay in contact with the key executives of the company and stay current on the latest information and reports. Board meetings are a great opportunity to do this.
Teleconferences are increasingly common, because a growing number of people work remotely. Meetings can be scheduled as often as once a week or once a year.
When you are preparing for your next board meeting, think about providing a portal containing the latest board materials as well as pre-saved agendas to help directors quickly find what they need and to focus on the important discussions. Inviting pre-meeting discussions with peers directors to have any questions or concerns addressed so that time can be used to great post to read discuss strategies instead of examining an endless list of reports.
The board members usually spend the majority of their time discussing the performance of the organization reviewing any major developments since their last meeting and discussing key performance indicators (KPIs) and looking at possible strategies for the future. The board may also review the list of new or old business items that need to be ratified and take action on these items. The board will adjourn the meeting following this.
