The Importance of Board Meetings

Board Meetings are regularly scheduled occasions where the company’s management is able to meet with key stakeholders in order to discuss important business matters. It is crucial that the board of director’s remain in touch and on the same page, particularly during critical moments such as an M&A deal or existential threat. A regular agenda and structure can help to ensure that meetings are focused on the most pressing business issues, rather than rehashing the same old news.

The discussion of the organization’s strategic direction is the most crucial part of any board meeting. The board must discuss the company’s strategies, and then develop a plan of action to ensure progress. It is also helpful to work together on any challenges the company may encounter and devise a strategy for how to address them.

During this portion of the meeting, the heads of departments or committees will typically present a report to the board. These reports could include milestones, financial information and KPIs as well as product roadmaps, progress and organizational performance. This section is typically devoted to discussing future strategies and Virtual Board Rooms assessing whether the company is on the right track to achieve its goals.

The board will then review any issues that haven’t been resolved or those that require formal approval. Based on the requirements of the business the board could vote on a variety of topics like changing a company’s articles or incorporation, authorizing a particular transaction, or ratifying an earlier decision made by the Board. To vote on a particular topic it is necessary that a majority of board members are present.