A board meeting that is productive will allow the business to move forward by taking informed decisions. To accomplish this, board members should work collaboratively to prepare for meetings. They should look over reports and documents, provide feedback, and address questions. They should also engage in thoughtful discussion on issues of strategic importance. This includes an exhaustive review and analysis of the current strategies, and a roadmap for the future.
An agenda that is clear is the first step to a successful board meeting. This agenda should be given to participants in advance of the meeting. It should contain all items that are to be discussed (e.g., the board packet, past minutes and policies proposed and committee reports). These documents will help participants to prepare for the meeting. They can also make it easier for the participants by not having to search for details.
After the board has reviewed, debated and acted on reports and information it is time to take a decision. This is where the true power of the board comes into play. In this part of the meeting the board will discuss and determine the specific actions that should be taken to achieve the objectives of the company. The chair should also conduct a roll call to confirm a quorum and ensure that all members of the board are actively participating in the discussion.
When making a decision, it is helpful for the board to bring in subject matter experts from within the company. A sales representative or someone from the engineering team can give an update on a new product, or an employee of the engineering department can discuss a recent major win. This will provide a fresh perspective to the discussion and spur productive debates. It is also an excellent idea to bring in external speakers to help the board gain additional insights into relevant topics.
