A board meeting is a formal gathering of the top management of a business to discuss strategic issues. The top management typically comprises founders and senior executives.
A board meeting’s purpose is to ensure that a company is operating at the highest level of oversight and management. To accomplish this, the board must take a look at and make decisions about major business issues, company performance reports, and future ventures.
The financial health of the company is one of the most important factors of a board of directors meeting. The board should look at whether or not the company’s revenue and profit targets are being attained, as well as how the company is performing in comparison to its competition.
The second segment of the board meeting is discussion of future and current company strategies. The board needs to analyze and devise strategies that will help the company achieve its long-term goals. The board should also look at the company’s progress and milestones since the last board meeting and find solutions for any missed targets.
It’s important that the board takes a structured approach to discussions and that the board members have the appropriate tools to work effectively. To do this, the board needs to prepare all of its board materials in advance. It is common to create a board package that includes the agenda for the board meeting along with the notes from the board meeting and any relevant documents. Many boards use Google Docs as a collaboration tool to create the board packs, and then share it with the board members before the meeting. This means that, once the meeting begins everyone is prepared Board Meeting Etiquette and can concentrate on having constructive discussions and making decisions.
