The board of directors monitors the performance and strategic direction of the company. To make well-informed decisions, it is important that the board stays in touch with key leaders of the company and stays current with relevant reports and information. Board meetings are an excellent method to accomplish this.
Board members typically meet in person, but with an increasing number of people working remotely, teleconferences are becoming increasingly common. Meetings can be held at least once a week or once 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 the information they require and concentrate on the important discussions. Inviting pre-meeting discussions with peers directors to address any questions or concerns addressed so that meeting time can be spent discussing strategies instead of examining all the reports.
The board members usually spend the majority of their time discussing performance of the organization – going over any major developments since the last meeting and discussing key performance indicators (KPIs), and exploring future strategies. The board can also review and approve a list of existing or new business items. The board will end the meeting following this.