Preparing For Your Board Meeting
Managing a Board of Directors can be a lengthy and complex task that requires a lot of work. A lot of manual processes used to be necessary for distributing documents to the board, recording attendance as well as writing minutes and arranging teleconferencing, have been digitalized. This makes it easier to plan meetings.
The process of preparing for your board meeting begins with a thorough analysis of the issues that will be discussed. Create a preliminary agenda. This agenda should be sent out to all participants, and should include the financials of your company and any presentation material which will require review in advance. This will allow your board members to prepare for discussions during the meeting. It also prevents you from spending the majority of the board meeting discussing details which could have been covered prior to the meeting.
The pre-meeting package should also include any reports prepared by committee chairs or other members of the board in advance. It is also recommended to make any additions, changes or corrections to the previous board minutes that you have approved and send them out for review and distribution. Finally, you should prepare a draft of your minutes of the meeting as they are still fresh in your mind.
The day before your board meeting, make sure to remove all notices in the public domain about the meeting and confirm that the space is available as well as accessible and fitted with the AV equipment you require. Make sure you invite all directors the difference between shareholder and stakeholder to the meeting, and provide them with ways to attend, whether in person or remotely.