A board meeting structure that is customized to the specific needs of your company can support productive discussions www.naturalboardroom.com/whats-a-great-amount-of-benefit-the-virtual-data-room-software-offers-larger-corporations-and-smaller-companies/ and ensure that all key points are documented. There are certain conventions that you can adhere to however, it’s equally important to be flexible and open to changes.
Start the meeting by calling the meeting to order and reviewing the agenda. The board chair asks whether there are any changes or additions to be made. The board chair will then approve the agenda for discussion and a decision.
The board is able to discuss reports from various departments and committees that must be presented. This portion of the meeting typically includes progress updates, financial statements and budgets review of proposals and more. Limit the number of topics related to reports to prevent the meeting becoming bogged down by administrative issues.
As board members discuss these issues, the chair assists the board members find common ground and agree on a solution. When there are no discussion topics or the time for the end of the meeting approaches, then the chair moves to adjourn the board meeting.
Directors can be distracted by the new topics of discussion that arise at the time of the board meeting and this can result in important discussions being slowed down. It is possible to reduce this by adding the “parking area” item to the agenda where directors can discuss topics that are important, but not top priorities. The board can then discuss the topics and decide if they are worthy of being explored further or included on the next agenda.