Report on Board Meetings Time Management
Added on 2020-05-01
13 Pages2884 Words40 Views
Board Meetings Time Management 1TIME MANAGEMENT IN BOARD MEETINGSBy NameCourseInstructorInstitutionLocationDate
Board Meetings Time Management 2Table of ContentsTime Management in Board Meetings............................................................................................31.0 PART 1......................................................................................................................................31.1 Incident Report.......................................................................................................................31.1.1 Time Management Challenge.........................................................................................31.1.2 Theories...........................................................................................................................31.1.3 Future...............................................................................................................................51.2 Observation of a Board Report..............................................................................................51.2.1 Name of Board................................................................................................................51.2.2 Skills Observed................................................................................................................61.2.3 Lessons Learnt.................................................................................................................61.2.4 Questions Raised.............................................................................................................71.2.5 Observations and Skill Development..............................................................................72.0 PART 2......................................................................................................................................82.1 Entry from Learning Journal..................................................................................................82.2 Advice to Student of Professional Development Course.....................................................103.0 References................................................................................................................................12
Board Meetings Time Management 3Time Management in Board Meetings1.0 PART 11.1 Incident Report1.1.1 Time Management ChallengeAs I tried to implement strategies on better time management in board meetings, I came to arealization that time management causes constraints on financial performance of organizations. Itried to educate the board on better time management strategies but there is a decision, whichtook so long to be made such that the company missed a potential client (Schwartz-Ziv &Weisbach 2013). There were a lot of misunderstandings concerning how the company should beapproached, services tailored to them and a professional pitch made. The board took too longand the company took up to the services of a competitor. This made me see that a lot still neededto be done so that the board manages their time in a better manner. Top management in thecompany does not reach good decisions quickly. It is important that quality decisions are made ata fast pace. Poor decisions can lead to the destruction of shareholder value. Good decisions madeslowly depress the perfomance of the company (Cooren 2013). If the company had acquired thepotential client, performance would have gone up hence helping the organization to grow.1.1.2 TheoriesThe company executives spent quite little time on board meetings. The time spent on meetingswas short but mostly wasted due to lack of proper time management. The limited time should beused wisely. I noticed that the agenda setting in the board was not focused or disciplined at all.The agenda was constantly the same in most meetings and no priorities were set. The board was
Board Meetings Time Management 4driven by whatever crises may have been happening (Rice 2013). No one had been singled out tomanage the board meeting agenda. Sometimes there are too many items on the agenda and theteam runs out of time before key issues are addressed. I therefore sought to look at some timemanagement theories and figure out how they would help the board in management of time. Myaim was to make everyone understand the importance of time and setting of priorities for theboard. Studying time management is essential as it will help me to direct the board in organizing,planning and scheduling various responsibilities for the board.The first theory is the pareto principle, which was founded by Vilfredo Pareto. He came up withthe 80-20 rule. He observed that 80% of land was owned by 20% of the Italian population. 80%of productivity also came from 20% of the working employees. These employees worked withinset time hence leading to the high productivity. Time therefore plays a vital role in productivityand success in an organization. This would be a good theory to implement for the board meetings(Nahavandi 2016). If time was managed better, the 20% of effort that baord members would putin can result in faster decision making and better strategy formulation and implementation. The second theory is the pickle jar theory. This experiment involves a time management modelwhich can help people to prioritise the work they do. When a pickle jar is picked with rocks,there are spaces which can be filled up using pebbles. Once the jar is filled up with pebbles itbecomes more compact but there are still places left (Johnston & Marshall 2016).The spaces arefilled up with sand and then water. This is a replica of life as major life repsonsibilities arerepresented by the rocks, pebbles signify hobbies daily chores and daily chores are representedby the sand. Water destructs us from the right path. Distractions lead to time mismanagementand should be avoided. The board has allowed distractions to lead to mismanagement of time. I
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