29 Ago What is a Board Meeting?
A Board Meeting is a once a year or bi-annual meeting where a company’s board of directors reviews the organization’s past performance, engages in strategic discussions and approves plans of action that support the expansion of the business. The board of directors usually scrutinizes financial reports and human resources, management, and other areas to decide how the company will grow across various departments or expand into new areas.
The agenda is designed before the board meeting so that there is an intelligent discussion on key issues as well as a clearly defined timeline for each item. A boardroom solution like Lifesize’s OnBoard ensures that discussions are organized, focused and maximize the time for each discussion.
Start with the most important items and how to build a pre ipo board move on to the next item. This will stop members from being overwhelmed by long reports or items that aren’t relevant to the discussion. The meeting should be dedicated to discussing strategies and how to advance.
Once the board has deliberated and reached an agreement on a plan of action, it’s time to vote. The voting process is conducted by secret ballot, with the Chairman overseeing the process and counting votes. Transparency and objectivity are crucial for a successful vote, therefore it’s important to have a neutral observer of the voting process. It’s important to have an independent board member that is not associated with your company.