A Board Meeting is a once a year or bi-annual meeting where a company’s board of directors evaluates the organization’s past performance and engages in strategic debates and approves plans of action to support the growth of the business. The board of directors usually examines financial reports, human resources, management and other areas, to decide how the business will grow across various departments or expand into new territories.
The agenda is created ahead of time prior to the board meeting so that there is an informed discussion of key issues and a clear timetable for each item. A boardroom solution such as Lifesize’s OnBoard ensures that discussions are organized, focused and maximize the time for each discussion.
Start with the most important things and move on to the next item. This will help prevent participants from being overwhelmed by long reports and routine topics that do not contribute to the discussion. The meeting should be devoted to discussing strategies and methods to move forward.
After the board has made a decision Look At This on a course, it’s time to vote. The vote is conducted via a secret ballot with the Chairman overseeing the process of voting and counting the votes. Transparency and objectivity are important for a successful vote, therefore it’s important to have a neutral observer of the voting process. It’s also beneficial to have an independent director who is not involved in your business on the board.