What is a Board Meeting?

A Board Meeting is an annual or bi-annual event where the https://boarddeluxe.com/why-and-how-to-build-a-pre-ipo-board/ board of directors of a company reviews its past performance, engages with strategic discussions, and approves actions plans to help support the expansion. The board of directors typically examines reports on financials as well as management, human resources and other areas in order to decide how the company will grow within various departments or expand into new territories.

The agenda is prepared ahead of time to allow for thoughtful and focused discussion on key issues, as well having a clearly defined timeline. A boardroom solution like Lifesize’s OnBoard ensures that discussions are organized, focused and maximize the time available for each discussion.

Start with the most important points and work your way backwards. This will prevent members from being overwhelmed by lengthy reports and other topics that aren’t relevant to the discussion. Ideally, most of the meeting should be dedicated to defining strategies and discussing strategies to advance.

After the board has deliberated and reached an agreement on a plan of action, it’s time to vote. The voting process is carried out by secret ballot and the Chairman overseeing the process and counting votes. It’s important to have a neutral party oversee the voting process to ensure the transparency and objectivity. It’s also beneficial to have an independent board member who isn’t connected to your business.

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