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The purpose of a productive board meeting is to make informed decisions that move the company forward. Board members must plan meetings collaboratively. They should review documents and reports, provide feedback, and answer any questions. They should also engage in thoughtful deliberation and analysis on strategic issues, which includes an exhaustive review of current strategies and a plan of future direction.
An agenda that is clear is the first step towards an effective board meeting. The agenda should be provided to all participants prior the meeting and should include the items to be discussed (e.g., the board package, past minutes and policies proposed and committee reports). These materials will assist participants to prepare for the meeting. They also help make it easier for the participants by not having to look for details.
After the board has reviewed, debated and acted upon the information and reports, it’s time to take decisions. This is where the real power of the board lies. During this portion of the meeting, the board will discuss and decide on the specific actions that must be taken to accomplish the goals of the business. The chair should also call a roll-call to confirm a quorum, and ensure that all members of the board are taking part in discussions.
During the decision-making process it is helpful for the board to include subject matter experts from within the company. A sales representative or member of the engineering department can give an update on a brand new product, and a member of the engineering department can discuss the latest major win. This can provide an innovative perspective to the discussion and promote productive debates. It’s also a good idea to invite outside speakers to give the board new insights into current topics.
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