A board meeting structure that is customized to your company’s requirements can help facilitate productive discussions as well as ensure that all the key issues are recorded. While there are certain conventions that you can adhere to however, it is best to have a flexible approach and be open to changes.
Begin the meeting by a an order to begin https://naturalboardroom.com/4-questions-about-board-conflicts-of-interest/ and a review of the agenda. The chair of the board asks whether there are any amendments or additions that must be made. The board chair will then decide on the agenda for discussion and a decision.
The board considers reports from various committees and departments that must be presented. This portion of the meeting usually includes updates on progress as well as budgets and financial statements as well as proposal reviews. It is recommended to limit the number of report-related topics to prevent the meeting from getting bogged down with administrative issues.
The chair helps the board members find a common ground to discuss and reach a consensus on solutions. When there are no discussions to be held or the deadline approaches, the chair will adjourn the board meeting.
Directors can be distracted by new topics of discussion that arise during the board meeting and this can lead to important discussions being derailed. To prevent this from happening, you can include a “parking lot” item on the agenda, where directors can push random topics that should be discussed but are not the top priority. This allows the board to consider the topics and determine whether they need to be explored further or added to the agenda for the next meeting.