Idea. Check. Funding. Check. Business Plan. Check. Board of Directors? The beginning of any journey, especially in business, starts with an idea. Once that idea has been cultivated and a plan is in place, then comes funding, the board of directors, employees, office space, etc. It’s a misconception to leave the creation of the board of directors as one of the last to-do items. Whether you’re a big or small organization it helps to be proactive when it comes to forming the group of individuals who help to manage the activities of your business (i.e. your board). This board can be elected or appointed, and they are tasked with maximizing overall organizational value, while simultaneously protecting the interests of any key stakeholders.
There’s a slight spring in your step as you saunter to the door after a grueling, but productive 3.5-hour AGM. For the time being, your reality is a harmonious world in which your company’s board of directors and shareholders are in sync and the mystic rivers of communication are flowing openly. This world is built upon a foundation of trust - trust that shareholders’ give to their board of directors, because they hope that the board is doing what they can to protect their financial interests. Despite a universal standard of trust, every once in a while, a breach may cause a shareholder (or two) to go rogue. Rogue, activist shareholders may attempt to use their influence to bring change for or within the company.
It's the holidays and you’re the chosen victim to host this year’s family dinner. Unfortunately, this dinner doesn’t get your undivided attention because your AGM happens to be right around the corner, and you have the meeting and motions to prepare for. Lucky for you, there’s a universal "recipe" that can ensure success in the kitchen and the boardroom…
A well-written English Trifle recipe is similar to a well-written board meeting motion. It's unique, concise, specific and ensures that your family can taste the whipped cream that you infused into each individual raspberry, the same way your board members can see the hard work you put into your motion.
Picture this. January 2009. In the midst of an unforgiving Canadian winter - the kind of winter that creates goosebumps just by reminiscing about it - Luis Navas, family man with a 5 and 3-year-old at home, decided to take a leap of faith and officially found Global Governance Advisors (GGA). He had spent 10 years consulting at Mercer and Korn Ferry/Hay Group, becoming the firm’s youngest Partner, and finally had enough. He refused to suppress his entrepreneurial spirit any longer. His family and friends weren’t surprised by his hunger to branch out, he was born with vision and a knack for business – after all, he was only 9 years old when he bought paper routes off of his peers and hired his friends to work for him.
We’ve all been there. The moment of sweat-inducing truth when all of your board software demos are over, and you need to decide. It’s not too life altering of a decision, deciding on board software, but years of ordering items online and never quite receiving what was advertised has made you slightly paranoid. But change is on the horizon, which means that you must wipe the dampness from the corner of your brow and power forward. It’s time to create a board management software comparison so that you can identify the all-encompassing enterprise solution that best fits your organization’s needs.
You delicately bring your knuckles to your face to satiate the itching sensation tickling your cornea. The kind of itch that only materializes after countless hours of forcing your eyes to be glued to the department issued Commodore 64. More specifically, glued to your annual Directors & Officers (D&O) questionnaire template. You’ve been assiduously working at finalizing this year’s survey, because that is what is required of the board administrator. You’re torn because you fully understand the necessity of this tedious labor, but your mind can’t help but wander to a world where D&O questionnaires are pre-populated.
Welcome. Please everyone, take your seats.
You’re standing at the front of the room, ready to nosedive into the fifteen agenda items scheduled for the next 2.5 hours. There’s never enough time in the day, let alone allocated for that quarterly board meeting. Nevertheless, you’re ready. Thanks to an über knack for preparation, your watch and smart phone have already been synced to the antiquated clock ticking away at the back of the room. Hell-bent on keeping everyone focused and on schedule, nothing can stop you now.
Picture this: an annual general meeting with no agenda. There’s no board chair or other administrator present to facilitate the meeting. What happens next? Can the board members stay organized, efficient and effectively discuss every necessary item? No, they can't.
The inability to have successful meetings with no set procedures led to the creation of Robert’s Rules of Order. Simply put, Robert’s Rules of Order is just another term for parliamentary procedure. It’s a widely accepted standard for conducting meetings and efficiently making decisions.
The number of times a board meets each year varies and is dependent on each individual board’s goals. Some boards will only meet once – at their annual general meeting (AGM) – and others will meet multiple times. Regardless of how many times a board meets, one task is universal throughout all board rooms. During each meeting, board meeting minutes are recorded.
Industry trends have shown a significant shift towards a paperless Boardroom. While some boards choose to streamline their communication by Board Software Communication, others have simply ignored the trends and continue to use email to fulfill their needs.
Email might prevent added costs to board operations, but it also proposes more potential downfalls and risks because email: