Preparing for your board meeting is a vital the difference between shareholder and stakeholder procedure that can guarantee an efficient boardroom discussion. The steps involved in this preparation could be overwhelming if they are not done regularly, but the outcome is well worth the effort.
The board chair and the CEO/executive Director must work together to plan the agenda several weeks ahead of time. Take into consideration the expected attendance, the division and strategies for encouraging discussion. Make a list of the directors and committee chairpersons who are required to present their reports at the meeting. It is important to give them a deadline to complete the report and also provide an outline of topics they’ll need to address at the meeting.
Gather the materials for the board meeting, including the finalized meeting agenda including financial and managerial reports and committee reports as well as the previous minutes of meetings. Make sure that these documents are sent to all attendees of the meeting in a timely fashion. If your company utilizes an online board portal to distribute meeting materials, the process should be simple.
Discuss any hot potato issues that have been identified and discuss the best method for addressing them in the boardroom. Discussing these issues ahead of time will limit the possibility of making the meeting an argument over a single issue and allow the board to explore different options.
Check that all meeting equipment will be delivered and available for the board meeting. Make sure that any catering arrangements have been made and are ready to be picked up the day prior to the board meeting.