A board meeting is a formal gathering of the top management of a business to discuss strategic issues. The top management typically consists by founders as well as senior executives.
The objective of a board meeting is to ensure that the highest level of oversight and governance for an organization. To achieve this the board will examine and make decisions regarding key business issues, performance reports of the company, as well as future endeavors.
The financial health of the business is one of the most important aspects of a board of directors meeting. The board must determine if the company's revenue targets and profit targets have been met, as well how it's doing in comparison to its competitors.
The second segment of the meeting with the board involves discussing future and current company strategies. The board needs to analyze and devise strategies to help the company reach its long-term goals. The board must also take a look at the achievements of the company and its progress since the last meeting, and come up with strategies to address any missed goals.
It is vital that the board takes a methodical approach to discussions and that the board members are equipped with the right tools to collaborate effectively. In order to do this, the board needs to prepare the board's materials in advance. This typically involves preparing a package of board materials which includes the agenda as well as meeting notes and other pertinent documents. A lot of boards use Google Docs as a collaboration tool to create the board pack and then share it with members of the board prior to the meeting. This means that, before the meeting starts the board members are all prepared and can concentrate on having productive discussions and making decisions.