The last few years have brought waves of change to boards as they adjust to the changing world. Board directors are figuring out ways to communicate and perform their oversight responsibilities despite rapid pace of regulatory change as well as the COVID-19 pandemic, and geopolitical instability.
A well-organized agenda is vital to ensure that board meetings are productive and efficient. A well-balanced combination of strategic topics and management presentations can help your board reach its goals, while allowing you to stay clear of distractions that can take up your time.
A well-organized agenda for the board begins with the most important issues and allows your team to start quickly and stay focused. It also includes a parking lot option for bringing up off-topic discussion subjects that should be left to your next meeting.
When you are preparing for your board meetings, provide concise board papers and executive summaries rather than long descriptions. This will allow directors to focus on the most important questions for a robust discussion. It is possible to include additional information to help your board better be aware of the issues. This could include market data (such www.americanboardroom.com/how-to-run-a-board-meeting/ as customer retention or acquisition rates) and financial information key performance indicators, or product development milestones.
Avoid discussing sensitive legal issues at board meetings when the general counsel isn’t present. It is essential to protect attorney-client confidentiality. It protects your company in the event of a lawsuit is filed against a board member.
