Who are directors?
It’s a job title we’ve probably all seen and often wondered what exactly they do.
From a business perspective, a director is someone who is appointed or elected to the board of a company. They’re responsible for making important decisions about the strategy their department takes. In most cases, they are responsible to shareholders.
Directors often have a legal responsibility to act in the best interests of a company. They are the final stop when it comes to important decisions, approving budgets and ensuring a business complies with any legal obligations it has.
Non-executive directors are people who sit on a board - usually because of an area of expertise - but don’t have the same fiduciary duties as an executive director. They can provide an impartial viewpoint that can make decision-making easier.
What happens at a directors’ meeting?
When directors meet, they will review the company’s performance, update on what’s happening in their team and tackle any challenges.
Like most meetings, directors are going to work best when they have clear communication. A good idea is to ensure they get updates from the right people in their team prior to the meeting.
It’s important the meeting has a chair who can control the flow and ensure everyone gets their say. For a directors’ meeting, this will often be the CEO but sometimes can be another director. For example, if they are reviewing budgets the CFO might chair.
It’s also important for key stakeholders, such as shareholders, to be kept up-to-date on any big decisions. The CEO is likely to attend these shareholder meetings so can often provide that, however, if they aren’t, it’s crucial a memo or some other update is delivered to them.
When the meeting is drawing to a close, directors should ensure they have clear action points for what they need to work on/implement.
How to prepare your directors’ meeting
First off, you need to find a suitable time for everyone to meet. When you’re sending out invites this also needs to address the big questions like location (in person or virtual), the scope of discussion and any preparation that participants need to do.
Doodle is a tool that can help you with all of this. By using Group Poll, you can send out a selection of times and in minutes find the one that works best for everyone.
What’s more, with Doodle Professional, you can remove ads, add pre-meeting questions, set a deadline, send reminders and add your favorite video conferencing tool.
Doodle meetings can take place anywhere thanks to native integrations with the world’s most popular video conferencing tools. Once the meeting is booked, everyone will get an email about the time and if you connect your calendar, the meeting will automatically be added. If you need to change that meeting, we can update the details too.
Doodle makes it easy for you to get your advisory board together in minutes without rounds of email back and forth. Try it for free today.