Boards have witnessed an array of changes over the past few years as they adjust to the changing environment. From a constant flow of regulatory changes to the COVID-19 epidemic, new technologies and geopolitical turmoil board directors are seeking new ways to communicate with one other and execute their oversight responsibilities.
A dynamic agenda is essential to ensure that board meetings are efficient and productive. The right mix of topics that are strategic and management presentations will help your board achieve its goals, while allowing you to stay clear of time-wasting distractions.
A dynamic board agenda begins with the most important topics which allows your team to begin quickly and stay focused. It also includes a section called parking lot for discussions that are off topic that can be left until the next meeting.
Make sure you are prepared for board meetings by providing concise board papers and executive summary instead of lengthy explanations. This will help directors concentrate on the most important questions to have a thorough discussion. You may also want to consider including additional information and background to aid your board members understand the issues on the table. This could include market data (such as customer retention and acquisition rates) and financials of the company as well as key performance indicators americanboardroom.com/how-to-run-a-board-meeting or milestones for product development.
Be cautious when discussing sensitive legal matters at board meetings without the company’s general counsel present. You must be mindful of the attorney-client privilege which shields your company from discovery in case of an action against a member of the board.
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