A Board Meeting is a bi-annual or annual meeting in which the board of directors of a business evaluates boarddeluxe.com its performance over the past year, engages with strategic discussions, and approves actions plans to help support the growth. The board of directors usually examines financial reports, human resources, management and other areas in order to decide how the company can grow in various departments or expand into new territories.
The agenda is designed well in advance of the board meeting to ensure a thoughtful discussion on the most important issues as well as a clearly defined timeline for each item. A boardroom system such as Lifesize’s OnBoard ensures that discussions are organized, focused and maximize the time for each discussion.
It is important to start by focusing on the most important items on the agenda, and then work your way down. This will prevent members from being overwhelmed by long reports and routine items which don’t add much to the conversation. The meeting should be dedicated to discussing strategies and methods to move forward.
Once the board has deliberated and reached an agreement on a course of action it’s time to vote. The voting process is conducted by secret ballot with the Chairman directing the process and counting votes. Transparency and objectivity are essential, so it’s crucial to have a neutral observer the voting process. It is also beneficial to have an independent director who is not directly involved in the business on the board.