The board of directors oversees the performance and strategic direction of the company. To make informed decisions, the board has to be in touch with the chief executives of the company and stay current on relevant information and data. Board meetings are a great way to do this.
Teleconferences are becoming more commonplace, as more and more individuals work remotely. Meetings can be held at least once a week or twice a year.
Consider creating a portal that includes the most recent materials for board members, as well as pre-saved meeting agendas. This will help directors focus on the most important discussions and find the information they need quickly. Encourage discussion between the board members prior to the meeting to address any concerns or questions so that the time can be used to discuss strategy rather than reviewing a litany reports.
The board members usually spend the majority of their time discussing performance of the organization and reviewing any major developments since the last meeting and discussing key performance indicators (KPIs), and exploring future strategies. The board may also look over and approve a list of old or new business items. After this the board will typically close the meeting.
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