Boards have experienced an array of changes over the last few years as they adapt to the changing world. Board directors are discovering ways to communicate and carry out their oversight responsibilities despite rapid pace of regulatory change along with the COVID-19 pandemic as well as geopolitical instability.
Making a compelling agenda is essential to ensure that board meetings are productive and efficient. A well-balanced combination of strategic topics and management presentations will help your board achieve its goals while allowing you to eliminate distractions that waste time.
A dynamically designed agenda for your board starts with the most important issues which allows your team members to begin quickly and remain focused. There is also a section called parking lot for off-topic discussions which can be put off until the next meeting.
When you are preparing for your board meetings, you should provide concise board papers and executive summaries instead of lengthy descriptions. This will enable directors to focus their attention on the issues that are essential for an effective debate. You might also consider including additional information and background to help your board members better understand the issues on the table. This could include market data (such as retention rates of customers and www.americanboardroom.com/why-board-of-directors-meeting-attendance-matters/ acquisition rates) and financials of the company, key performance indicators, or milestones for product development.
Be careful when discussing sensitive legal matters at board meetings without the company’s general counsel present. You must be mindful of protecting attorney-client privilege, which protects the business from discovery in the case of an action against a member of the board.