Boards have witnessed significant changes in the last few years as they adjust to the changing world. From a constant pace of regulatory changes to the COVID-19 cholera pandemic the turbulence in the world and new technologies board directors are seeking new ways to interact with each other and execute their oversight duties.
Developing a dynamic agenda is an essential element to ensuring that board meetings are both productive and efficient. The proper mix of strategic topics and management presentations will allow your board to achieve its objectives while avoiding unnecessary distractions.
A dynamically designed agenda for your board starts with the most important issues which allows your team to start quickly and remain focused. Also included is a feature called parking lot for discussions that are off topic which can be put off until the next meeting.
When you prepare for your board meetings, you should provide concise board papers and executive summaries rather than lengthy descriptions. This will enable directors to focus their attention on the issues which are the most crucial to an engaging debate. You may want to include additional information to help your board better understand the issues. This could include market data (such as retention rates of customers or acquisition rates) as well as financial data key performance indicators, or milestones in product development.
Avoid discussing sensitive legal issues during board meetings if the general counsel www.americanboardroom.com/what-is-board-management-software/ is not present. Be aware of preserving attorney-client privilege which shields your company from discovery in case of an action against a member of the board.