To make strategic decisions, you will require the knowledge, experience, and influence of your board members, regardless of whether your company is growing, or stagnating. You must hold board meetings to accomplish this.
A board meeting is a formal gathering of the top managers of a company or nonprofit. These managers are elected by the directors of the corporate stakeholders to supervise every aspect of business, including policy and performance.
The board is regularly scheduled throughout the year to review the performance and policies as well as discuss new ventures and opportunities. Traditionally the board meets in person, but increasingly, companies are conducting their meetings remotely.
It is crucial that each meeting has a particular tone. Board meetings must be focused and engaging and should be free of off topic chatter. It is also helpful to highlight a recent achievement story or accomplishment that can energize members in the opening speech.
Once everyone has arrived you can begin to conduct business. Board members must discuss any issues that require discussion and evaluate the pros and cons of any new business opportunities. A discussion-based format for this portion of the meeting enables members to share their own perspective and expertise on every topic.
After settling any old issues, the chair of the board announces new business and encourages a discussion. Make sure the discussion is concentrated on strategic issues that will help your business grow.
