The board of directors is a crucial decision-making body, which is responsible for monitoring the company’s performance as well as its strategic direction. To make informed decisions, the board must to be in touch with the top executives of the company and keep up to date on the latest information and reports. Board meetings give the board an opportunity to accomplish this.
Board members usually attend in person, however with a an increasing number of employees working remotely, teleconferences are becoming increasingly common. Meetings can be held as often as once a week or twice throughout the year.
Consider distributing a portal that contains the most recent materials for board members, as well as agendas that are saved for meetings. This will help your directors focus on the most important discussions and locate the information they need quickly. Encourage pre-meeting discussions with fellow directors to have any concerns or questions addressed so that the meeting time can be spent discussing strategies rather than examining all the reports.
The board members spend the majority of their time discussing the performance of the company – reviewing any major updates that have taken place since the last meeting, analyzing KPIs and looking at the future. The board could also review the list of new or old business items that need to be approved and take actions on those items. After all of this the board will normally close the meeting.