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Developing a Dynamic Agenda for Board Directors Meetings
Boards have witnessed an array of changes over the past few years as they adapt to changing circumstances. Board directors are figuring out ways to communicate and perform their oversight duties despite the rapid pace of regulatory changes along with the COVID-19 pandemic as well as geopolitical instability.
Making a compelling agenda is a crucial element to ensure that board meetings are efficient and productive. The right mix of strategic topics and management talks will assist your board in achieving its goals while avoiding distractions that waste time.
A dynamic agenda for your board starts with the most important items that allow your team to get to work quickly and stay on track. It also includes an item called parking lot for discussions off topic which can be put off until the next meeting.
Set up your board meetings by providing concise executive summaries and board papers instead of lengthy summaries. This will help directors focus on the most important issues to have a thorough discussion. You may also want to consider including additional information and background information to aid your board members to comprehend the issues at the table. This could include market information (such as retention rates of customers and acquisition rates), company financials as well as key performance indicators or milestones for product development.
Be cautious when discussing sensitive legal issues at board meetings with the company’s general counsel present. Protecting attorney-client privilege is important. It safeguards your business in the event that an action is brought against any board member.
