In the event that they serve as a strategic decision-making body or a governance structure meeting of the board is crucial to the success of an company. But even though they’re important, the effectiveness of board meetings is often restricted by the way they’re conducted.
A strategic outlook is necessary to create an effective board meeting. This will ensure that every meeting is positive and will lead to productive discussions. Making a plan which prioritizes key issues and allocates time to each discussion item is a great way to begin.
Alongside setting clear objectives for the meeting, ensuring that the board members are properly prepared and provided with materials for the meeting is another crucial element to make board meetings more productive. The final step is the preparation of precise and concise minutes that document the discussions and decisions made, while providing action points with associated timelines are important components for successful board meetings.
Limiting the time devoted to reports and « have to’s » can result in more meaningful and productive discussion time. As a general rule you should not spend more than 25% of your meeting time https://www.boardroomcommunity.com/ on routine tasks and reporting.
When they are distracted by topics which do not directly impact company goals, the board can be wasting time and cut down the amount of time available to think strategically and plan. To prevent this from happening board members, many boards provide a parking lot at the end of their agendas to push any issues that are not of high priority and require discussion into future meetings.