What is a board?
The board, whether that is for a start-up, multinational or charity, is a group of people who represent the interests of investors and shareholders. As well as guiding an organization’s executive team, it also appoints the CEO and will generally oversee operations without getting involved in the day-to-day running of the company.
Different types of businesses will have different types of boards and appoint them in different ways. For example, a large multinational with many shareholders will likely have elections. A smaller business, say something that is family-run, will choose among themselves.
In some countries, it's common to have two different types of boards within the same company. One is the advisory board as described above, often overseen by a chairperson. The second is the executive board, chaired by the CEO, which takes care of the daily running of the business.
A board’s composition may also be governed by particular regulations. For instance, it may be required to be a certain size or contain certain members.
What happens at a board meeting?
The board will come together to look at a range of things. This can include reviewing performance, considering policy matters, discussing problems and conducting tasks they are required to do by law.
When not legally prescribed, board meetings often take place every quarter. This gives its members the chance to review the strategic direction of the company and made recommendations about where things could or should go.
Generally, board meetings will start with sharing the minutes of the previous meeting to ensure everyone is updated. Then if there are any questions about the agenda, these can be decided too.
The outline for board meetings can vary based on the company. Start-ups and tech companies favor a more pragmatic approach, while large corporations typically pursue strict guidelines to help create order and structure.
Normally the CEO and other C-level leaders will attend the board meeting, so the board may also wish to arrange a discussion without them present to evaluate their performance.
As the board works its way through the agenda, it may wish to go over unresolved issues that have been previously discussed and are ready for formal approval. The attendees can also discuss any additional concerns about the organization's needs.
As the meeting draws to a close, the board should look to see if there is anything that needs to be picked up after the meeting or added to the next meeting’s agenda for follow-up.
How do you plan a board meeting?
People who sit on company boards are busy, so trying to get them together can be a challenge. This is where Doodle comes in.
Whether you are trying to gather two to 2000, Group Poll makes it easy. Simply select a number of different time options and send them to your participants. They select the ones that work best for them and your meeting time becomes clear. No more scheduling stress.
Doodle Professional also lets you add deadlines and reminders, removes the ads and enables you to take the meeting online by adding your favorite video conferencing tool. Plus, if your board connects their calendars the event will be added automatically so there’s no chance they’ll get double-booked.
Doodle makes it easy for you to gather the board together in minutes without rounds of email back and forth. Try it for free today.