Board Room Management is a procedure for managing the meetings of the board, communications, and documents of a board. This includes the use of technology such as virtual meeting tools as well as collaborative document storage. A well-managed meeting room can enhance the effectiveness of a board and, ultimately its decision-making.
Transparency and active listening, as well as collaboration as a primary focus are essential for a successful boardroom. This is especially important when it comes to a virtual board, where there are specific issues. To facilitate collaboration, it’s vital to have a system in place for sharing and tracking information, and encourage participants to speak up during discussions. A board portal for instance, could aid in sharing information and allow for real-time discussion of issues and decisions.
Maintaining strong relationships is essential to effective management of the boardroom. Ted recommends regular meetings with every member or smaller groups outside of the boardroom. These meetings help to align on an individual level, get acquainted with their families and friends, and learn what motivates them. These meetings, while they may seem like a lot of work initially, can reduce the number of surprises at end of the quarters and ensure that everyone is on the same level.
It’s essential to have a process to handle bad news delivery. This will allow you to avoid any surprises during board meetings. It is best to hold an open discussion prior to the meeting and ensure all negative information has been communicated. Boards should also have a process to handle conflicts between members and ensuring that no one person is in charge of discussions.