Board of directors meetings are an opportunity for a business or non-profit to discuss and debate strategic decisions. These meetings are an essential element of the governance of a company, as they establish the basis for future success and increase productivity. By following a set of best practice to ensure that the agenda of your board is well-defined and productive, which will lead to productive discussions that help support organizational growth.
A well-run board meeting begins with clearly defining what is expected of the meeting, and ensuring that all legal considerations are addressed. This includes the provisions in governance documents that limit participation and attendance of board members with opposing claims or conflicts, as well rules for those who have observer status.
Every board meeting should include an exchange of views on important business issues, like looking over and approving financial statements and addressing major questions regarding policy. The agenda should include time for board members to think about their current performance and discuss ways they can improve.
Inadequate planning and poor communication can result in a chaotic meeting with an unorganized agenda that fails to address the most important business issues. A well-crafted agenda and a clear record of the meeting can reduce the chance of misunderstandings and disputes, and ensure that all decisions are made in a legally-sound and informed manner. The board should also avoid getting lost in discussion topics, which are not on the top list of items for the meeting. Instead they should designate an “parking area” at the end of their agenda to allow for these items.
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