The organization of a board of director meeting requires the leadership skills of both an executive director and non-executive directors. The former is the one who leads the company’s top management, and is responsible for day-to-day operations, while the director who is the latter brings diverse experience to the table. During meetings they review reports and documents, offer information on management issues and strategic initiatives, and make decisions that affect the long-term performance of the organization.
Before the meeting takes place It is crucial to ensure that all the required materials have been sent and logistics are in order. In addition, it’s recommended to review the agenda and make any final adjustments to ensure that all issues are covered in a well-organized and concise manner.
The meeting begins with an opening statement by the presiding officer or board chair. The treasurer then provides a full report on current financial issues. The treasurer should have prepared the report prior to giving board members the chance to look over it and think of questions.
After the treasurer has completed his report, any member may propose to discuss any new business. If they’re seconded a vote is taken and those in favour say ‘aye’, while those who oppose say ‘no’..
This is the time to address any pending or unfinished issues from previous board meetings. Based on the issue, a voice vote or show of hands can be used to resolve the matter. The presiding officer, or board chair, concludes the meeting with an overview of the major decisions and actions that were agreed on. This will ensure that all participants are aware of their roles going forward.