A well-run meeting of the board is Corporate Development an excellent method of getting people involved in difficult decisions and problems. The key to a successful meetings is to ensure that everyone is on the same page and that they are given the chance to review materials beforehand. This allows for more discussion and helps boards to make informed decisions that are in the best interest.
Board members are likely to have a long list of commitments. It is therefore essential to organize board meetings in advance and ensure that all directors accept the invitation. It is also a great idea to develop a board package template for all directors, so that they are able to access documents prior to the meeting.
On the day of the board meeting the most important task is to efficiently manage the time of the board. This means ensuring that all items on the agenda are actionable and relevant and is well-informed. It’s also a good idea for each item to be given a specific amount of time so that the board doesn’t get sucked into discussions that serve no purpose.
It’s also a good idea, after each meeting, to solicit feedback through an online poll on the board portal. This can help keep frustration levels down and keep issues from boiling over. This will also help improve the structure of the next board meeting and ensure that members are ready for difficult decisions.