Board meetings can take up a significant amount of time and require you spend most of your time listening to reports or discussing them. Depending on the way you conduct your board meetings there is usually not enough time for actual decision making.
Making the most of your board meetings requires structure and discipline. This includes creating an agenda, establishing meeting spaces and dispersing all the relevant materials prior to the meeting. This will allow the board members to prepare for the meeting, gather opinions and ask questions. Then, when the discussion begins, they arrive with a high level of understanding and confidence that they have contributed to the final outcome.
The officer will greet the attendees with a message of greeting. The chair then addresses old and new issues, in chronological order. Old business consists of items the board has previously discussed and approved or decided against. New business is comprised of things the board hasn’t considered and is presently weighing for approval. Other business involves unscheduled activities like appointing committees or announcing director appointments.
After the discussion is complete the chairman then will put all motions up for the vote. This includes amending the articles of incorporation, approving certain transactions, and ratifying the decisions taken by directors. It also involves making decisions on strategies and approving plans of actions. It is helpful to set KPIs that align with the goals of your business and are quantifiable to help your board decide on its strategy. These KPIs can then be used to assess the effectiveness of any strategy you are considering for your board.
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