A board meeting provides your business with a chance to get advice on strategic planning from your top leaders. Although every board meeting is different, there is some common practices which can make meetings more effective and successful.
The presiding officer opens the board meeting at the appointed start time, and calls to ensure that there is a quorum present. The board then goes over any unresolved items from the previous meeting. This includes the reports of officers and committees. The board votes on the report if there is a recommendation for action. The board may read the report in order to keep up with the most recent developments.
Before moving on to the next item, the board usually reviews minutes of the previous meeting. This helps the board members remember the major decisions made at the time of the meeting. They can also see the outcomes of any changes made to the business plan and how the decisions are being implemented.
In this section, the directors review the financial reports for the current fiscal year and also the anticipated numbers for the future. Directors are able to discuss the financials of the company and decide on any expansion or retraction plans. They can also make a vote on audited reports.
After reviewing the most important discussions from the meeting, the board may decide on any other procedural motions before adjourning the meeting. They could, for instance adopt the minutes or issue a certificate of that stock options are granted. If there are any questions or comments, they could be brought up in the next meeting. They may also be addressed outside of the meeting by email, phone or other means.