Boards have experienced a lot of change in the past few years as they adapt to changing circumstances. Board directors are figuring out ways to communicate and fulfill their oversight responsibilities despite the rapid pace of regulatory changes along with the COVID-19 pandemic as well as geopolitical instability.
A dynamic agenda is essential to ensure that board meetings are productive and efficient. The right mix of management and strategic topics presentations can help your board meet its goals, while allowing you to stay clear of distractions that can take up your time.
A dynamic board agenda begins with the most important issues and allows your americanboardroom.com/how-to-run-a-board-meeting team members to begin quickly and remain focused. Also included is a feature called parking lot for discussions that are off topic which can be put off until the next meeting.
Set up your board meetings by providing concise executive summary and board papers instead of lengthy summaries. This will allow directors to focus their attention on the topics that are essential for an effective debate. You may also want to consider including additional information and background information to help your board members better understand the issues on the table. This could include market information (such as retention and acquisition rates) or financial statements of the company as well as key performance indicators or milestones in product development.
Avoid discussing sensitive legal issues in board meetings when the general counsel is not present. The protection of attorney-client privilege is vital. It protects your company in the event that an action is brought against an individual board member.