The past few years have seen waves of change to boards as they adapt to the changing world. Board directors are figuring out ways to communicate and fulfill their oversight responsibilities despite the rapid pace of regulatory changes, the COVID-19 pandemic and geopolitical instability.
A dynamic agenda is essential to ensure that board meetings are efficient and productive. A well-balanced mix of strategic topics and management presentations can help your board reach its goals while avoiding distractions that waste time.
A dynamic board agenda begins with the most important issues, allowing your team to begin quickly and stay focused. It also includes a parking lot item for pushing off-topic discussion subjects that should be left to the next meeting.
Prepare your board meetings by supplying concise executive summaries and papers for board meetings instead of lengthy explanations. This will allow directors to concentrate their attention on the questions that are most important for an effective debate. You might want to include additional information to help your board comprehend the issues. This could include market data (such as customer retention and americanboardroom.com/why-board-of-directors-meeting-attendance-matters acquisition rates), company financials as well as key performance indicators or product development milestones.
Be careful when discussing sensitive legal issues during board meetings without the company’s general counsel present. You must be mindful of preserving attorney-client privilege which shields your company from discovery in the case of an action against a member of the board.