A Board Meeting is a formal meeting in which a group directors discuss plans, take crucial decisions and decide on policies. Board members discuss strategies for promoting the growth of a company while also evaluating the performance of the company and addressing any issues that may hinder its success. During board meetings, discussions typically focus on important issues like budgets and expansion into new markets. The board is able to change bylaws or adopt them, approve certain transactions and ratify the decisions made by the board. These important decisions are recorded in the board meeting minutes.
In the initial portion of a meeting for board members, the chair usually gives brief descriptions of the important events that have taken place since the last meeting. This includes a review on the performance indicators like sales, marketing traffic, and market share. The board should also consider any targets that have been missed and work together to find solutions to help the company improve its performance.
After removing any remaining items, the board may then begin discussing agenda items. Discussions regarding these items should be lively and interactive which allows all board members to participate in the debate and contribute their opinions. The chair should entice members to speak up, while still keeping control of the flow of the meeting. Once the discussion is complete, the board chair will usually put every motion to a vote. When the results are in, the board will move to the next item on the agenda.