10 Facts You Should Know About Board Meetings

The board meetings did not hide the current situation from the employees and suggested that those who deem it necessary leave the company, which, in fact, had no future.

The Topic of Board Meetings in Business

Today, the topic of board meetings remains one of the most demanded in the research of organizations, especially in the context of working with different generations of employees. Many authors study the peculiarities of the corporate culture of the most successful companies of our time (Apple, Google, Facebook), believing that they are the secret of staff motivation, innovative ideas, and success in general.

Thus, recognizing the fact that board meetings are a diverse phenomenon, as well as an integral part of any business, and as research and our practical experience show, has a significant impact on both business results and individual groups and individuals working in an organization, we consider corporate culture a starting point from which it is necessary to begin long-term changes in organizations. And within the framework of this book, we would like to demonstrate how corporate culture contributes to better business results and vice versa, how ignoring the influence of corporate culture leads to serious consequences.

The main objectives of the board meetings are:

  • determination of priority areas of activity and development strategy of the Company, as well as its subsidiaries;
  • ensuring control and assessment of the activities of the executive bodies and senior officials of the Company;
  • increasing the capitalization of the Company, expanding its market positions, achieving and maintaining the competitiveness of the Company;
  • maintaining a stable financial position, increasing income, profitability;
  • protection of the rights and legitimate interests of the shareholders of the Company.

What Are 10 the Most Important Facts about Board Meetings?

Before moving on to scientific definitions, we note that board meetings are an internal contour of an organization, which sometimes manifests itself in the most unexpected way. Here are some examples from our experience. In one company with which we happened to work, the corporate culture was understood as only two points – the dress code and joint leisure activities. Therefore, the management spent all its efforts and resources on this: firstly, the employees were clearly shown with the help of pictures in what form they should come to work; secondly, there were detailed instructions on how to behave at a corporate event, how many times to say a toast and what its content should be.

Besides, there are 10 facts about board meetings you should know:

  1. Establish expectations and responsibilities upfront.
  2. Identify sticking points (and solutions).
  3. Consistently meet with individual board members.
  4. Focus on exposing board members to real-life work.
  5. Communicate clearly (and hold others to doing so).
  6. Board Composition.
  7. Understand the Landscape.
  8. Boards Must Be Led.
  9. Be Proactive.
  10. Manage the Trickle-down.

As a result of the admission of the indicated mistakes of the board meeting, the company moves by inertia, without a specific direction of movement, without analyzing the constantly changing external and internal factors. In addition, there is a risk of loss of confidence on the part of owners, consumers, suppliers, creditors, and other market participants. Therefore, in the event of a deterioration in the environment, the company may face the impossibility. Thus, the consequences of the considered strategy mistakes indicated in the table allow us to conclude that these mistakes have a serious impact on the company’s activities both in stable and crisis conditions.