A board meeting is a way of communication between people within an organization. It is necessary to develop a group solution to the problem and immediately distribute responsibility for its implementation. Here are the basic procedures and rules for preparing and conducting a meeting that will save everyone time and make the meeting productive.
Work Plan of the Board of Directors
Meetings of the board of directors are held under its work plan, formed on the basis of proposals from the chairman, deputy chairman and members of the board of directors, the president, members of the management board, members of the audit commission, and the auditor of the company.
Proposals on the work plan of the board of directors are submitted no later than 30 calendar days before the beginning of the planning period. A proposal to include an issue in the work plan of the board of directors must contain:
- information about the person, management body, or control body of the enterprise that proposed;
- the wording of the issue proposed for inclusion in the work plan of the board of directors;
- reasons for including the issue in the work plan of the board of directors;
- the proposed time frame for consideration of the issue;
- signature of the person, head of the management body, or control body of the company that proposed.
The work plan of the board of directors is approved by the board of directors on the proposal of the chairman of the board of directors. The inclusion of additional issues in the approved work plan of the board of directors, the exclusion of issues, and the change in their wording are made by the decision of the board of directors.
Notice of the Meeting of the Board of Directors
The notice shall be sent by the secretariat of the board to the members of the board of directors no later than 20 days before the date of the notice. It must contain the agenda of the meeting, the date, time, and place of the meeting, as well as a list of persons invited to the meeting. Attached to the notice are:
- draft decisions of the board of directors on agenda items;
- documents and other information materials;
- voting ballot indicating the date of its submission to the board of directors.
Participants of the Board Meeting
General requirements for the participants of the event are:
- competence and interest in the issues on the agenda;
- a high enough position to make decisions and give instructions to subordinates following the results of the meeting.
The list of participants during the event may change. If there are topics on the agenda that affect all participants in the meeting and issues that apply only to some of them, then general issues should be discussed first. At the end of this part of the meeting, employees who are not involved in the further discussion can be released.
Etiquette Tips for Board Meetings
To facilitate the conduct of a board meeting, there are several etiquette tips for directors, namely:
- the entire board is responsible for board decisions, even those members who voted against them;
- focus on agenda items as any deviation from the established meeting plan may result in cost overruns;
- come up with relevant questions or solutions to problems;
- do not interrupt other participants when they are talking;
- good timing is important for a meeting to run properly.