Company meetings are a gathering of business personalities to discuss different aspects of companies progress. A meeting is a session of discussion between two or more people on different issues. Some company meetings are exclusive for the shareholders and company owners, and others are only for employees of the company.
There are a lot of ways of conducting a meeting. Some companies arrange office meetings, conference meetings, telephonic meetings, and some other type of meeting. The nature of the meeting is dependent on the type of meeting. Let’s take a look at some of the different types of company meetings.
- Statutory Meetings
- Annual General Meeting (AGM)
- Board of Directors Meeting
- Class meetings
- Formal Meetings
- Informal Meetings
- Motivational Meetings
Usually, business organizations are share-based companies. There are many shareholders of a company. In statutory meetings, all the company shareholders gathered once in the lifetime of a company. Before conducting a statutory meeting, the board of directors of a company sends a statutory report to all shareholders.
The purpose of the statutory meeting is;
- To inform the shareholders about the important facts and figures of the company.
- Give a platform to the members to discuss the management about the prospects of the company.
- To approve any modification and terms of a contract.
Annual General Meeting (AGM)
Every company conducts an annual general meeting (AGM) every year. An annual general meeting or AGM is mandatory for running a company successfully. The purpose of an AGM is to assess the progress company during the financial year.
During an AGM, the shareholders of a company can give their suggestions for any improvements. They even express their concerns about dividend payments and executive compensations.
A signed copy of the AGM memorandum is sent to all members and shareholders of the company.
Board of Directors Meeting
A board of directors meeting is the most important meeting in an organization. In these meetings, all company directors gathered to discuss companies policies. Board meetings are usually held at regular intervals to discuss major policy and internal issues of a company.
Class meetings are conducted among a specific class of shareholders of the company. The purpose of these meetings is to alter any rights of particular class shareholders. During these meetings, all shareholders of a specific class gather and vote for any resolution.
For a formal meeting, there are strict rules and regulations by the company that every attendee should need to follow. Formal meetings’ purpose is to discuss Articles of Association, Constitution or Standing Orders of Association, and other related matters.
The company secretary has to keep a record of conducted formal meeting. These meetings are for the managerial staff, so these are very important meetings.
Informal meetings can be done at any time during work hours in an organization. The purpose of informal meetings is to keep an eye on the progress of a work team.
Informal meetings are conducted among the marketing managers, sales managers, production managers, and research managers to meet deadlines. Sometimes informal meetings are conducted for the announcement of a new project to motivate the team.
Motivational meetings play a key role in done a project successfully. The basic purpose of a motivational meeting is to encourage the progress of the team for the previous work and make them ready for an upcoming project.
During motivational meetings, companies hire a motivational speaker who guides the team to fight with upcoming challenges.
Whatever is the nature of the meeting, all company meetings have their worth. While you are going to attend any of the above-said meetings, prepare yourself to perform better.