A board room is a formal gathering that takes place in a room specifically designed for this purpose, known as the boardroom, inside an organization or a company. It is where the most important decisions, which can affect the employees of a company as well as investors who hold its shares, or the general public at large is made. Meetings may be held every quarter or monthly, and there are the need for additional meetings ad-hoc to discuss urgent issues. They usually follow a standard format and agenda. They are usually private and participants are often required to sign non-disclosure agreements.
The term can also be used to describe a room inside the office of a stockbroker, in which market quotes and stocks are displayed. The first references were to rooms in London Stock Exchange.
While boardrooms and conference rooms serve similar functions They are separate spaces that have their own distinctive atmosphere and features. The difference between them is in their exclusivity, space, layout, and integration of technology. Understanding these distinctions will help companies to effectively utilize both spaces to maximize their efficiency.
Diversity and inclusion are fast becoming more than buzzwords in boardrooms and executive suites around the globe. As the movement gains momentum, many companies are changing the culture in like it new ways and implementing new policy to ensure that their workforce reflects their customers. But there’s plenty to be done, and the most effective place to begin is in the boardroom.