Planning and execution are crucial for an effective board meeting. It is important to start the meeting by bringing the meeting to order and introducing participants. Similarly, the board must agree to an agenda that is concise and clear. This allows board members to focus on their tasks for the duration of the meeting. The ultimate goal of the board of directors meeting is to produce an unambiguous and actionable board minutes. A board management software like Range allows multiple users to work together and ensures accuracy.
The first item of business is to review and then approve the minutes of the previous board meetings. Then the CEO or executive director reports on organizational progress and any significant events that have occurred since the last meeting. The board then discusses the reports of the committees and the financial position of the company. This involves reviewing, approving and reviewing budgets, financial statements and investments. The board then discusses and deliberates on any pending or new topics.
While it is important to encourage the board members to discuss topics and to ask questions of each other, getting sidetracked can be a waste of time. To prevent this from happening it is possible to establish an agreed-upon “parking lot” for topics that are not on the agenda. It is possible to revisit the items and determine whether or not they should be added to the following agenda or delegated as a task. Last, you should conclude the meeting in a timely manner.