The board of directors supervises the performance and strategic direction of the company. To make informed decisions, it is crucial that the board stays in touch with key leaders of the business and is up-to date with pertinent reports and information. Board meetings are a great method to achieve this.
Board members typically attend in person, however with a an increasing number of employees working remotely, teleconferences are becoming increasingly popular. Meetings can be scheduled as often as once a week or twice throughout the year.
When preparing for your next board meeting, consider disseminating a portal that contains the most recent board materials and pre-saved agendas to help directors quickly find what they require and stay focused on the most important discussions. Encourage pre-meeting discussion with peer directors to address any questions or concerns addressed so that time can be used to discuss strategy rather than reviewing an endless list of reports.
Board members spend most of their time discussing the performance of the company as they review any major changes that have occurred since the last meeting, debating KPIs and www.boardroomsite.com/important-tips-for-effective-remote-board-governance/ evaluating the future strategy. The board may also review and accept a list of old or new business items. The board will call off the meeting following all this.