A board meeting is a crucial chance for your company to get strategic guidance from top executives. While every board meeting is distinct, there are numerous common practices that can help you achieve success and make meetings effective.
The presiding official begins the meeting as it is scheduled to begin. Then, he calls the roll to verify that there is a majority present. The board then goes over any unresolved items from the previous meeting. This can include reports from committees and officers. The board can vote on the report only if it is a recommendation to take action. The board can also read the report to keep abreast of the most recent developments.
Before moving on to the next items, the board usually running a board meeting examines the minutes of the previous meeting. This helps participants keep track of all the important decisions that were made at the meeting. They can also view the effects of any changes made to the business plan and how those decisions are being implemented.
During this section, directors review the financial reports for the current period and the projected numbers for future periods. They can also discuss financials and decide whether to increase or rescind plans. They can also take a vote on the audited financial reports.
After reviewing the most important discussions of the meeting, the board is able to decide on other motions of procedure prior to adjourning the meeting. For instance, they may decide to approve the minutes, or even certify stock option grants. If there are any questions or concerns, they may be addressed at the next meeting. They may also be addressed outside of the meeting by email, phone or other means.