Board Meetings are a time where the top management of an organization (Executive Directors and Non-Executive Directors) meet to discuss and evaluate the performance of the business, and also to discuss future plans and projects.
The board of directors typically is comprised of individuals with different backgrounds. However, each brings a unique perspective to the table. This creates a lively and open discussion over a wide range of topics that relate to the company.
In this time, the board will also analyze the past performance of the company by analyzing the growth in profits and sales and market share growth, investment strategies, and so on. The board also analyzes any obstacles or roadblocks that could hinder progress and formulates resolutions to overcome them.
The board typically reads the minutes of the previous meeting prior to beginning the agenda for the next meeting. This is to ensure that all issues discussed and decisions made during the previous board meeting have been properly documented and are accurate. This will help the board determine whether there is a quorum and the agenda items are addressed. After this is completed the meeting can start. In this time, directors are free to present any reports or presentations they would like. The board will then review and discuss the reports. The goal is to generate ideas and discuss ways to improve the performance of the company. It is essential that every director contributes and gives insight into the company.