Board Room Management is the process of managing a board’s meetings and communications and documents. This includes the use of technology, such as virtual meeting tools and collaborative document storage. A well-run meeting room can improve a board’s effectiveness and, ultimately its decision-making.
Transparency and active listening as well as a focus of collaboration are crucial to a successful boardroom. This is particularly important when dealing with a virtual board in which there are a variety of different challenges. It is crucial to have a system that lets you track and share information and encourages members to speak up during discussions. Utilizing a board portal, for example, can make it easier to share information and facilitate real-time discussions of issues and decisions.
Effective management of the boardroom also requires strong relationships. Ted suggests that board members or a small group of them meet regularly outside of the boardroom to connect with each other on a more personal level and to get acquainted with their families and acquaintances and to find out what motivates them. While it might appear like a lot of work, these meetings could help to avoid surprises at the end of the quarter and ensure that everyone are on the same team.
It is crucial to have a process in place for bad news announcements. This will help you keep any surprises out of board meetings. It is best to have an open discussion prior to the meeting and make sure the negative news is communicated. Additionally boards should have a procedure for handling conflicts between members and to ensure that no person has the upper hand in the discussion.