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Explain The Importance of Meetings of The Board of Directors

The document discusses the importance of board of directors meetings, convening meetings, quorum, and minutes of meetings. Board meetings are where major company decisions are made. Convening meetings refers to arranging board meetings, including details like time, location, and agenda. Quorum is the minimum number of board members with voting rights that must be present for a meeting to proceed and decisions to be valid. Minutes of meetings are important because they provide a written summary and record of discussions, decisions, appointments, and assigned responsibilities from the meeting.

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40 views

Explain The Importance of Meetings of The Board of Directors

The document discusses the importance of board of directors meetings, convening meetings, quorum, and minutes of meetings. Board meetings are where major company decisions are made. Convening meetings refers to arranging board meetings, including details like time, location, and agenda. Quorum is the minimum number of board members with voting rights that must be present for a meeting to proceed and decisions to be valid. Minutes of meetings are important because they provide a written summary and record of discussions, decisions, appointments, and assigned responsibilities from the meeting.

Uploaded by

Lime M
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Read Chapter 4 of our Module and answer the following questions.

Your answer should be


written in Google docs.

1. Explain the importance of meetings of the Board of Directors.

● Board Meetings are really essential as it is where the important and major decisions
regarding the company are made. These meetings enable the company to discuss and
address crucial and or significant matters like for example concerns, problems or issues.
Meetings of the Board is where the executives or the directors can have a conversation,
a formal argument or discussion, it is where they can share all their ideas and opinions
about certain company matters, make judgements, elect or appoint new members and
vote to come up with a particular decision. Through these kinds of company gatherings,
the board is able to set policies, resolve certain problems or conflicts, evaluate certain
decisions, plan the operations and monitor the strategies of the company.
2. Explain what is convening meeting

● Convening meeting typically means calling or bringing together for a meeting, it pertains
to the arrangements, preparations, the things that should be done and the papers or
materials that should be issued and prepared in order to hold a board meeting. I think it
particularly refers to the details of the meeting like when, where and who shall summon
or convene for a meeting, who should participate, attend or whose presence is needed
in the said gathering, how the said directors/attendees will be informed regarding the
said meeting of the board and what it will be all about or its agenda.
3. What do you mean by quorum? Expound

● Quorum pertains to the number of members of the board that is eligible to vote or has a
voting right that must attend or must be present throughout a meeting. The number of
the said members is the basis if a certain meeting will carry on or be cancelled since
their presence, particularly their vote is really essential for making decisions. Those
board members who have voting rights that really play an important role in meetings
since if one of them were not able to attend or the number of the said members needed
in a board meeting was not met, then any decisions that are made in that particular
meeting will be invalid.
4. Explain the importance of minutes of the meeting.

● Minutes of the meeting are important, because it contains the summary of the
proceedings of the meeting and it has the record of all the appointments made on that
particular meeting. It is essential since it contains all the important details and it is where
the decisions that have been made and all the other ideas that were agreed upon from a
particular meeting are recorded that will be useful when reviewing documents. It is also
important as it can be used as a proof that a meeting was held and can provide a
reference to those that were not able to attend a particular meeting. Lastly, it has the
clear record of who is accountable and or responsible to perform a certain task or
action.

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