The board meeting is a key moment for your company to tap into the experience and perspective that Important People on your board bring to the table. If you let them be occupied with studying reports as they complete administrative formalities, or debating procedural issues — your board will walk away with less than they could have.
The most effective board meetings include productive discussions and specific actions. To make your meetings as efficient as possible adhere to these suggestions:
Before your meeting, get a good understanding of the schedules of your board members. Start by using a tool such as Doodle to find common open dates in your board members’ calendars. Once you’ve identified the most convenient time, you can reach out to those who manage their own schedules directly and ask for a final confirmation of their availability.
The meeting will begin by providing a brief overview on the key issues and inputs sought. This will include a review of the highlights of the pre-meeting conference call and the board’s package.
Give your committee heads and department heads time and space to share important reports and updates. This will help the board remain up to date. Remember that the board might be required to revisit or discuss matters that weren’t resolved during the previous meeting. It’s helpful to assign a specific point person from your https://indexdataroom.blog/streamlining-manda-due-diligence-the-power-of-virtual-data-rooms/ team to follow-up on these topics after the meeting. Lastly, the board should decide on any important next steps. This should be clearly recorded in the minutes, along with the deadline and expectations for each item.