Boards have seen many changes in the past couple of years as they adapt to changing realities. Board directors are looking for ways to communicate and meet their oversight responsibilities despite rapid pace of regulatory changes as well as the COVID-19 epidemic and geopolitical tensions.
A dynamic agenda is an essential element to ensure that board meetings are both productive and efficient. A well-balanced mix of strategic topics and management presentations will assist your board in achieving its goals while avoiding distractions that waste time.
A dynamic board agenda starts with the most important items, enabling your team https://americanboardroom.com/explore-the-influence-of-real-estate-data-room/ members to go to work quickly and stay on track. It also includes a section called parking lot for off-topic discussions which can be put off until the next meeting.
When preparing for your board meetings, make sure you provide concise board papers and executive summaries, not long descriptions. This will enable directors to focus their attention on the issues that are most important for an engaging debate. You may also want to think about adding additional information and background information to assist your board members know the issues that are on the table. This could include market information (such as retention rates for customers and acquisition rates) or financial statements of the company Key performance indicators or milestones in the development of products.
Be cautious when discussing sensitive legal issues in board meetings without the general counsel of the company present. Protecting attorney-client privilege is important. It protects your company in the event that an action is brought against any board member.