A well-run board meeting will improve decision-making and productivity, enhance time-management and collaboration skills and bring businesses closer to their objectives. But, running a successful and efficient meeting requires a flexible agenda structure, a good template for a book of directors and clear governance procedures.
Set clear meeting goals and make them clear to participants ahead of time. This will allow everyone to plan and prioritize the topics for discussion. Meetings that are too long or unfocused can be avoided. Focus on issues rather than updates, and limit meetings to 30 minutes per topic. This will keep discussions productive and reduce fatigue.
Communicate clearly how decisions will taken during the meeting. Facilitate a discussion that is open and respecting differing opinions. But, be honest about difficult subjects and bad news. If you have to have a formal process for voting make sure the procedure is well-defined and has a predetermined number of votes needed to ensure that a decision is taken into consideration as being agreed upon. The minutes of meetings can accurately document the results of the vote, allowing for accountability and follow-up.
After the meeting, review all the decisions made and then create a list action items that each chief executive can deliver to their department. This will help reinforce the new strategies that were agreed upon and make sure every department is on board in implementing these objectives. In subsequent meetings, you will review and analyze these actions to create a culture of accountability.
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