The board of directors will guide your company through its most difficult growth phases. This requires them to deliberate on strategies and approve plans of action that will ensure the company’s success. This is why that efficient and effective meetings of the board are important. To achieve this, a few essential requirements must be adhered to during the meeting.
The first rule is that you should always provide attendees with proper notice of the meeting. This may vary depending on your company’s size, but five to seven business days is generally considered a reasonable period of time. This allows participants to read the board’s agenda, attend the meeting either in person or via video and engage in a productive conversation.
You should set strict time limits for each item in the agenda for the board meeting. This will help keep the meeting focused and allow all members to participate in meaningful ways. The agenda should also include a list of any documents that must be discussed or approved. This will give participants a sense that the board has taken into consideration crucial aspects of the company’s growth and is not rushing through the process.
It’s a good idea to avoid discussing irrelevant topics in board meetings, however it’s not always feasible. To avoid this issue, encourage a culture of discussion in which all opinions are valued. This can be achieved by incorporating tools like decision matrices to your board meetings.
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