how secure is your board meeting
A Board Meeting is an annual or bi-annual gathering in which the board of directors of a company reviews its past performance, engages with strategic discussions, and approves action plans to facilitate the expansion. The board of directors scrutinizes reports on finances, human resources, and management to decide the direction in which the company should expand.
The agenda is prepared ahead of time to allow for well-thought-out and focused discussion of the most important issues, as with a clear timetable. A boardroom software such as Lifesize’s OnBoard ensures that discussions are organized, focused and maximize the time for each discussion.
It is important to start with the most critical items on the agenda and begin to work your way down. This will help keep the members from being overwhelmed by long reports or items that aren’t relevant to the discussion. Ideally, the majority of the meeting should be dedicated to defining strategies and discussing strategies to advance.
After the board has decided on a plan, it is time to vote. The vote is conducted via a secret ballot with a chairman overseeing the voting process and counting the votes. Transparency and objectivity are crucial and it is essential to be able to have a neutral observer during the voting process. It’s also beneficial to have an independent director who isn’t associated with your business on the board.