What is a Board Meeting?

A Board Meeting is an annual or bi-annual event where the board of director of a company reviews its performance over the past year and engages in discussions on strategic issues, and approves actions plans to help support the growth. The board of directors review reports on finances, human resources, and management to decide on the direction in which the business will grow.

The agenda is planned well in advance to allow for a thoughtful and focused discussion on key issues, as well as a clear timeline. A boardroom solution such as Lifesize’s OnBoard ensures that discussions are focused, streamlined and maximize time for each discussion.

Start with the most important items and proceed to the less important items and work your way backwards. This will stop members https://boarddeluxe.com/why-and-how-to-build-a-pre-ipo-board/ from being overwhelmed by long reports and other topics which are not relevant to the discussion. The meeting should be dedicated to discussing strategies and methods to advance.

After the board has deliberated on a plan of action, it’s time to vote. This is done via a secret ballot with the chairman monitoring the voting process and tallying the votes. Transparency and objectivity are important as well, which is why it’s essential to have a neutral observer of the voting process. It is also helpful to have an independent director who isn’t associated with your business on the board.