A Board Meeting is a formal meeting in which a group directors discuss plans, make important decisions and set policies. Board members discuss strategies to encourage growth of a company, while also evaluating the company’s performance and addressing any issues that might hinder its progress. At private equity versus traditional ceo board meetings, discussions often focus on critical areas such as budgets and expansion into new markets. The board may decide to change or adopt bylaws, authorize certain transactions, and ratify previous decisions taken by the board. These key decisions are recorded in the board meeting minutes.
In the opening portion of a board meeting the chair usually gives an overview of key events that have taken place since the last meeting. This is followed by a brief review of the key performance indicators, such as sales, marketing traffic and market share. The board should also look at any areas of failure and work together to come up with solutions to assist the company in improving its performance.
After settling any outstanding items, the board may then begin discussing proposed agenda items. The board should engage in lively, interactive discussions about these subjects. This allows all members to express their opinions and participate in the debate. The chair should encourage board members to speak up, while maintaining control of the flow of the meeting. When the discussion is finished, the board chair typically puts all motions to a vote. Once the results are in, the board will move to the next item on the agenda.