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The last few years have seen waves of change to boards as they adapt to the new circumstances. From a constant pace of regulatory changes to the COVID-19 pandemic geopolitical upheaval and emerging technologies board directors are discovering new ways to interact with each and fulfill their oversight responsibility.
The creation of a dynamic agenda is essential to ensuring that board meetings are both efficient and productive. The proper mix of managerial and strategic topics can help your board reach its goals while avoiding time-wasting distractions.
A dynamic board agenda starts with the most important items, which will allow your team members to go to work quickly and stay on track. It also includes a section called parking lot for off-topic discussions that can be put off until next meeting.
When preparing for your board meetings, make sure you provide brief executive summaries, not long descriptions. This will allow directors to focus their attention on the points that are most important for an engaging debate. You might want to include additional information to help your board be aware of the issues. This could include market information (such as retention and acquisition rates), company financials Key performance indicators or milestones in product development.
Be careful when discussing sensitive legal issues in board meetings without the company’s general counsel present. Protecting attorney-client privilege is important. It protects your company in the event that there is a lawsuit filed against a board member.
