Board Meeting Information
Contrary to popular belief, the board of directors does not make most of the decisions for your company. Although they are able to make decisions in some high-impact areas (in the case of a venture-backed business, many of those choices are described in the investment and governing documents) most important issues are decided by committees or the CEO/management team with the input of the board.
Board meetings are typically more focused on planning, policy and oversight of business operations. However, the decisions of a board can have a major impact on a business. Therefore, it is crucial to organize and conduct board meetings in a way that encourages a constructive discussion and results.
To ensure that the board is well-informed it’s important to make sure everyone is informed. Distribute materials for the board ahead of time so that attendees can familiarize them with the information prior to the meeting. Ideally, these documents should be concise and clear enough that they won’t take more than an hour of review.
Next, allocate time for discussion on the board. You might want to give attendees the chance to ask questions or provide brief remarks in an open forum. Also, set aside time for presentations from external stakeholders. Set aside time for the consent agenda – one section where routine or noncontroversial issues can be approved with a simple motion and vote.
Then, at board meetings and board meetings, you should explain the procedure for making decisions. Make a decision on whether you want to reach a consensus or employ the https://boardroomideas.info/what-to-expect-from-data-room-provider/ formal voting process and establish specific criteria for evaluating the new ideas. This will help everyone to understand their role and the possible consequences of a wrong decision.