If they’re used as a strategic decision-making forum or a framework for governance, board meetings are critical to the success of an business. The way the board meetings are conducted can affect their effectiveness, regardless of how important they are.
The process of preparing a successful board meeting requires a strategic plan to ensure that each meeting is productive and leads to meaningful discussions. Planning a lively agenda which prioritizes key issues and allocates time to each discussion item is a great place to begin.
Aside from setting clear objectives, it is also important to ensure that all board members are provided with board materials and are adequately prepared before the meeting. This makes board meetings more productive. Additionally, preparing accurate and concise minutes of meetings that document discussions and more tips here decisions as well as action items with associated timelines is an essential element for successful board meetings.
Limiting the amount of time devoted to reports and “have to’s” allows for more meaningful and productive discussion time. A good rule of thumb is that you should spend not more than 25 percent of the time on reporting and routine items.
Getting sidetracked by new topics for discussion that don’t provide any direct impact on company goals can waste the time of the board and eat into the time that is available to strategic planning and thinking. To avoid this, many boards include parking spaces at the end of their agendas to push any non-priority items that require discussion to future meetings.
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