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If done properly Board meetings should be productive and entertaining. In order to achieve this, board members should feel comfortable discussing complicated issues in a safe environment and working together. This requires adopting best practices that foster collaboration, efficiency, and efficient governance.
The best place to start is to verify that there is a quorum. This is done by confirming that all directors required to attend the meeting are present. The board must then go over agenda items and approve minutes of previous meetings.
The board can then discuss any major updates or milestones made since the last meeting. This is also the time to address any issues that need to be addressed and identify obstacles that require being addressed. Lastly, the board should be able to collaborate on strategies for the future that can be executed to help move the company forward.
Discussion topics should be vetted and prioritized prior to the meeting to ensure that all pertinent issues are discussed in sufficient in depth. This can be accomplished by preparing an extensive agenda prior to the meeting, and distributing it to participants for review. A well-rounded agenda for a board should include a time-frame for each item to guide discussions.
By adhering to these best guidelines, your board can have more productive and meaningful discussions at every meeting. This will result in better decisions, and a more successful organisation. Want to know more about the best way to conduct a successful board of directors meeting.