Board Meeting Facts
A board of directors is comprised of the executive leadership and non-executive directors of an organisation. The board oversees the day-today activities of the business and decides on the direction of the company. The board also makes major decisions that affect the entire business. Additionally the board must decide on strategies and set out action items to accomplish these goals. Often, these are discussed and debated in board meetings. A plan of action is then set up at the end of each session.
It is vital to keep an account of all board meetings. Minutes are typically published regularly and could be legally required or requested by the stakeholders. To ensure a smooth and effective meeting, the chairman blog here along with the board secretary and executive team, develops and distributes the agenda and other relevant documents in advance for review and preparation. The chair then greets board members and introduces guests or presenters. The chair will also confirm that there is a quorum, if required, during this part of the meeting.
The most important aspect of board meetings is the decision making process. A board that is successful is one that is well informed and efficient. This requires a clear understanding of the current state of the company and the goals that have been formulated. Understanding the underlying problems that require attention is also helpful. This can include reviewing and discussing performance reports and KPIs. This may include evaluating the profitability of each division within the product line of the business, analyzing customer satisfaction metrics and regional sales, among other data.
