Meetings cost time and money, both of which are valuable. Hold meetings only when necessary, and ensure that they are concise and constructive.
MEETING FORMALLY
Each of the various different types of formal meeting has different rules of procedure. Some meetings, such as annual general meetings, must be convened by law; other are voluntary and are called to make a particular decision or to discuss an issue.
FORMAL MEETINGS
| TYPE OF MEETINGS | CHARACTERISTICS |
| BOARD MEETING: A board is attended by the board of a company – usually comprising of its directors. In some countries, the board must exercise its power collectively by law. | Board meetings usually take place at regular intervals, perhaps once a month, to discuss company business. Meetings usually take place in a board room – traditionally a formal space with a large table. A board meeting is chaired by the chairperson, who is elected according to the rules of the company. |
| STANDING COMMITTEE:A standing committee is a subgroup of a company board. It may be given responsibility for recurring tasks, such as the annual review of a chief executive’s salary and performance. | A standing committee meets regularly to fulfill its delegated tasks.The board of a company may authorize a standing committee to act in its place.A standing committee may report back to a company board, which will then implement any necessary action. |
| ONE-OFF COMMITTEE:A company board may establish a one-off committee to look at an issue that needs particular attention. Such a sub-group may meet more regularly than the full board. | One-off committee can meet as and when necessary to discuss specific issues that require specialist expertise or to look at complicated problems in detail. Many company boards find it difficult to meet more than once a month; a one-off committee can meet regularly and need only involve the necessary individuals. |
| PUBLIC MEETING:A public meeting is open to anyone. This type of forum may be used by local government or private action groups wishing to consult the public on various issues, or by companies wanting to discuss developments. | All members of the general public are invited to attend public meetings, which are usually advertised in advance at local community centers, in public libraries, and in local newspapers or magazines.An agenda for a public meeting usually consists of only one main issue for discussion. |
| CONFERENCE:A conference is a meeting at which several presentations are given on one theme. Some conferences are open to the public; others are for restricted group, such as company employees. | This type of meeting is ideal for communicating information to a large number of people at once and in a short space of time. Due to their size, conferences allow little scope for discussion or audience participation, although speakers may hold question-and-answer sessions. |
| EXTERNAL MEETING: | |
| An external meeting comprises a group of people from one organization and another group from outside that organization – for example, visiting trade-union negotiators. | Confidentiality is an important issue in external meetings. Participants should think carefully about which information must remain private and which may be disclosed in the meeting in order achieve its ends.External meetings can be held on neutral ground. |
| ANNUAL GENERAL MEETING (AGM):An AGM is a yearly, often mandatory, gathering of a company’s directors and shareholders to discuss business during the past year and future plans. | An AGM allows shareholders to question company directors and hold them accountable for company’s performance.Directors use this opportunity to seek approval of annual accounts, reappoint auditors, and to discuss future plans and policies. |
| EXTRAORDINARY GENERAL MEETING (EGM):An EGM is a meeting that can be called at any time between AGMs if shareholder approval is needed for immediate action | Shareholders should be given a certain amount of notice of an EGM. How much notice varies from country to country?The rules governing the procedure of an EGM are usually the same as those governing the procedures of an AGM. |
Key Points:
- Familiarize yourself with the different types of formal meeting procedure.
- Be aware of any legal requirements that are entailed in formal meetings.
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