Board Room Management is the process of managing the board’s meetings, communications, and documents. This can include the use of technology, such as virtual meeting tools or collaborative document storage. A well-managed meeting space can enhance the effectiveness of a board and, ultimately, its decision-making.
Transparency and active listening as well as a focus of collaboration are crucial for a productive boardroom. This is particularly important when working with a virtual board in which there are numerous different challenges. It is important to have a system in place that allows you to monitor and share information and encourages participants to speak out during discussions. A board portal, for example, can aid in sharing information and allow real-time discussion of issues and decisions.
Effective boardroom management also requires strong relationships. Ted suggests regular meetings with each member or smaller groups outside of the boardroom. This will help align on a personal level, get to know the families and friends, and discover what drives them. These meetings, while they may appear like extra work at first, could reduce the number of surprises at end of quarters and ensure that everyone is on the same level.
It’s essential to have a process in place for bad news to be announced. This will help you avoid any unexpected surprises during board meetings. The most efficient way to accomplish this is to hold a meeting prior to the meeting and to make sure that any bad news has been fully communicated. Furthermore boards should have a procedure to handle conflicts between members and to ensure that no person dominates the discussion.