Formal Meeting Minutes and Debt Recovery

The assignment focuses on the importance of formal meetings in resolving business issues, particularly debt recovery. It provides a detailed report on a hypothetical meeting where participants discuss tightening financial policies to recover debts efficiently. The document includes tasks, minutes of a meeting, and references to relevant studies and online resources.

Formal Meeting
Assessment 2

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
TASK 2............................................................................................................................................1
TASK 4............................................................................................................................................3
TASK 5............................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
A formal meeting is a process of gathering two or more people together to attain a
common purpose or objective. There is a formal notice, a set agenda and many new things which
are taking place for business goal. All the shareholders and board of directors are part of this
formal meeting. Formal meetings get held under Chairperson and agreement is recorded in
written form known as minutes. As per the given scenario, National Australia Bank is going to
arrange an annual board of directors meeting for increasing funding and providing loans to other
and decrease the debts from it. This meeting will take place for more than 2 hours in which
management will decide to recover all their debts.
TASK 1
A formal meeting is one in which all the rules and regulations have to be followed in an
appropriate manner (Edwards, Wattenberg and Lineberry, 2015). It is completely bind by several
laws which are imposed on it so that all targets get ascertained in minimum time frame. It gets
held for a specific agenda in which all the members of a company are going to take active
participation. A beneficial judgment will be carried down for any issue or problem.
National Australia Bank will have held at head office of the bank which is situated in
Sydney. Thus, all the members and directors are being a part of this meeting and have to fulfill
the agenda as well. Shareholders have to take active participation and provide suitable suggestion
to recover all debts within minimum time period. This is considering as an essential term and
concept for their sustainability context.
TASK 2
An agenda is a goal or objective has to be accomplished within provided time duration
for a specific problem. It includes several number of things which are: Date: National Australia Bank will organize this meeting on 7th of October 2017
(Saturday) which is one of the best days for organizing this meeting. Venue: It is the place where meeting will be going to take place. Management chooses
their head office at Sydney as a perfect venue for the meeting.

 Name of the organization: Every entity has their specific goals and objectives which have
to be accomplished on time. It is essential to use National Australia Bank as a name of
the organization to make them different from others (Stocker, 2014). Availability of members in meeting: All the members will be going to be available for
meeting on Saturday and this is the reason, it is chosen as one of the best suitable days.
 Participation of members: All participants are going to attend this meeting to increase
their share in company and get higher returns.
Agenda of meeting-
MEETING AGENDA
Objective-: A major objective of this meeting is to solve all problems which are related with
funding. It get determine that from past few years debt of a company are increasing.
Date- 6th December 2017
Time- 11:00 to 15:00
Attendance- Directors of a company
General managers
Deputy GM
Location- Queensland
 Minutes of meeting
 Next meeting will incorporated on 15th December
 15 new members are going to join this meeting
 Meeting get started on 11:00 and get end up-to 15:00
 Prepare objectives of meeting with previous ones as well.
TASK 3
 Preparation of meeting is effective in nature because the whole process will reflect
around to cover all debts on time. Agenda of National Australia Bank is “Recovery of
Debt, 2017” and all members of association are going to work around this fact. This
agenda will support in framing a target for the project in an appropriate manner.
 The agenda is following up properly because all pro and cons are identifying which are
related with this. For this perspective management already tighten their policy of working
which is beneficial for them in long term context.

 Order was maintained properly during the agenda because all people are in favour of this
objectives (Merkhofer, 2012). This target is helpful and provide more return to investors
as well. Thus, interest rates will get reduce and this is a major thing for business purpose.
 Objective is a common goal or target for which everyone is working. The main agenda of
formal meeting is to reduce the debts and tighten policy which are related with it. Thus,
all objectives under this perspective get determine and attain in an appropriate manner. It
enables the bank to recover their debt on time as well (How to take and write minutes,
2017).
TASK 4
Minutes of a meeting:
Recovering of debts in minimum time frame
Objective: An essential thing is to tighten the policies of a company so that debt get recover in
minimum time frame.
Date: 5th December Location: Mecca, Seattle, WA
Time: 11:00 to 15:00 Meeting type: Annual general meeting
Call in members: 20 Call in Code: A45-UK-100
Called by: Mrs. Clark Facilitator: Management of National Australia
Bank
Documents: Please take a copy of last minutes as well as major issues which made a vast
impact on business apart from debt recovery.
Actions: Discussion is based on tightening financial policies so that debt recover properly in
short time period as well.
Agenda: A major objective of this meeting is to solve all problems which are related with
funding. It get determine that from past few years debt of a company are increasing.
Mrs. Clark
Human Resource Manager
TASK 5
Title of meeting: Recovery of debts, 2017

Location of meeting: National Australia Bank, Sydney
Date of meeting: 7th October 2017
CONCLUSION
It can be concluded from the report that formal meetings are a part of business in which
all members take active participation in resolving the major issues and problems which are
taking place in an organisation. Management has to take some appropriate steps for this relation
by setting a specific agenda or objective. Along with this, they have to set a venture as well so
that meeting can be held properly and everyone would reach at the destination.

REFERENCES
Books and Journals
Edwards, G. C., Wattenberg, M. P. and Lineberry, R. L., 2015. Government in America. Pearson.
Merkhofer, M. W., 2012. Decision Science and Social Risk Management: A Comparative
Evaluation of cost-benefit analysis, decision analysis, and other formal decision-aiding
approaches (Vol. 2). Springer Science & Business Media.
Stocker1, T. ed., 2014. Climate change 2013: the physical science basis: Working Group I
contribution to the Fifth assessment report of the Intergovernmental Panel on Climate
Change. Cambridge University Press.
Online
How to take and write minutes. 2017. [Online]. Available through:
<http://www.governance.uwa.edu.au/committees/principles/meetings/preparation/
minutes>. [Accessed on 3rd October 2017]