Planning and execution are crucial for a successful board meeting. It is essential to begin the meeting by calling it to order and welcoming participants. Additionally, the board needs to adopt an agenda that is short and clear. This allows the board members to concentrate on their duties and objectives for the duration of the meeting. Ultimately, the goal of a meeting of the board is to prepare an organized and actionable minutes for the board. This can be accomplished by using a board management software such as Range that allows multiple users to work together and ensures accuracy.
The first item on the agenda is usually reviewing and approving last board meeting’s minutes. Then, the executive director or CEO reports on the organization’s progress as well as any major events that have transpired since the last meeting. The board also discusses the report of the committees as well as the financial situation of the company. This includes approving, reviewing, and reviewing financial statements, budgets and investments. In addition, the board examines and discusses any other topics that are pending or newly proposed.
It is essential to encourage discussion and debate, however being distracted can waste time. To prevent this from happening, you can establish an agreed upon “parking lot” for off-agenda topics. You can revisit the items and determine whether they should be added to the following agenda or delegated as an assignment. In the end, you must conclude the meeting with an adjournment promptly.