What Happens at Board of Directors Meetings?

Board of directors meetings are the time when the key decision makers in the company meet to review and make decisions. They also set the vision of how an organization will progress. These decisions have a major impact on the business. They can affect everything from determining the composition of a team’s management to setting company policy and even the approval of grant of stock options. This is a crucial moment for the business and the collective wisdom of the most influential leaders will be needed to guide the organization through a myriad of decisions.

The process begins with determining the date for the meeting that is suitable to sufficient members to make the quorum. However, it also tries to avoid conflicts with the key members who can offer unique insights into the upcoming issues. The next step is making a board-related document that contains all relevant figures, projections and financial information for the meeting. Boards can make use of online tools such as Google Docs to create their document, which can be collaborative and have a voting system for quick decisions.

The board reads the minutes of its previous meeting at the actual meeting and discuss any new issues that has come up. Directors with potential conflicts of interest are required to disclose these conflicts and disengage themselves from the discussion. Once the main topics are discussed, the board is able to suspend the meeting if any other procedural issues are resolved.

It’s easy to forget that even though your fellow board members are influential, they’re mere people. They’ll have their own opinions of strengths and weaknesses. They may not be as smart or shrewd as you think, they might get confused and frustrated, and just like all of us, they’ll be prone to whining (even the most intelligent ones! ).