Meetings of the board are essential for support the company’s goals, preventing conflict and ensuring compliance with the requirements of regulatory agencies. However, they can only be productive if everyone involved is involved and committed to fostering constructive dialogue. By applying these best practices you can turn your Board meetings into powerful engines that push your company toward its long-term strategy and objectives.
The first step to run an effective board meeting is to set clear expectations and establish meeting protocols. It is essential to establish the person responsible for each item on the agenda and ensure that all participants understand what they can expect.
The process of setting and observing timeframes for each agenda item helps to keep the focus of the meeting. It also shows the attendees that their time is valued. You might want to limit the number of items on your agenda so that your board members have the time to discuss each one effectively. Voting on non-controversial topics can be conducted through a consent agenda, which frees time for discussions on strategic issues. Utilize visual tools such as countdown timers, and adhere to the time frames you have set particularly when addressing sensitive issues.
Sidetracked discussions can lead to unnecessary meetings and divert attention from achieving goals. Include a “parking area” on the agenda to include topics which require further investigation or consideration but aren’t at the top of your list. Always check in on the parking area to determine what should be added to the agenda, investigated further or delegated.
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