The board of directors oversees the strategic direction and performance of the company. To make informed decisions, the board has to be in touch with the key executives of the company and keep up to date on relevant information and data. Board meetings provide the opportunity to accomplish this.
Teleconferences are increasingly common, since a rising number of people work remotely. Meetings can be held every week or twice a year.
When you are preparing for your next board meeting, you should consider providing a portal containing the latest board materials and agendas pre-saved to assist your directors quickly locate what they need and focus on the important discussions. Encourage discussion among the board members prior to the meeting to address any concerns or questions so that the time can be used to discuss strategy instead of reading through a plethora of reports.
The board members spend the majority of their time discussing the performance of the organization reviewing any major developments since the last meeting and discussing key performance indicators (KPIs) and evaluating future strategies. The board can also review and approve a list of old or new business items. After this the board will normally suspend the meeting.
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