A well-run meeting of your board of directors will allow you to make ethical and informed decisions. The board should be able review documents, discuss and reach a consensus on complex issues. Documentation is vital to allow for future reference and compliance. The process can be challenging to navigate, but ensuring the board is making the most of its time and resources is critical for the success of your company.
Board work can be fun as well as exhausting simultaneously. To ensure that meetings are productive, it’s essential to avoid these common pitfalls.
1. Re-reading of discussion points arising from previous meetings
Reminiscing about the discussion from the previous board meeting will take up time, and will distract from the most pressing agenda items. It is also unlikely that you will be able achieve the objectives of the board meeting in the event that you get distracted by new discussion topics. If you are required to discuss a topic that was not originally scheduled for discussion with the group, you can agree to keep it in the discussion until conclusion. The group can then examine the issue and decide if they want to add it to the next agenda, delegate an assignment, or study the subject further.
2. Information sharing is too much
Board members need to be well-informed, but the board’s document should be in a form that allows for constructive discussion and prompt questions, not serve as an exhaustive summary of each piece of information available for review. It might sound like playing pre-school teacher, but it allows the board to concentrate on the most crucial decisions, and also ensures that they’re tackling the issues when their decision-making abilities are at their peak.
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