What is a Board Meeting?

A Board Meeting is a once a year or bi-annual gathering where a company’s board of directors assesses the company’s performance and engages in strategic discussion and approves plans of action to help the expansion of the business. The board of directors typically examines financial reports as well as management, human resources and other areas in order to decide how the company will grow within various departments or expand into new regions.

The agenda is prepared early enough to allow for a deliberate and focused discussion on the most important issues, as as a clear timeline. A boardroom software such as Lifesize’s OnBoard ensures that discussions are organized, focused and maximize the time for each discussion.

Start with the most important things and begin to work backwards. This will help keep the members from being overwhelmed by long reports or items which are not relevant to the discussion. The meeting should be devoted to discussing strategies and ways to move forward.

Once the board has deliberated and reached an agreement on a plan of action, it’s time to vote. This is accomplished through a secret ballot with a chairman monitoring the voting process and counting the votes. It is essential to have a neutral individual oversee the voting process to ensure the transparency and objectivity. It’s also beneficial to have an independent director who is not involved in your business on the board.

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Cheikh FAYE