A boardroom is a formal gathering held in a room specifically designed for this purpose, also known as the boardroom in the company or another organization. This is where high-level decisions, which usually affect the employees of a business as well as shareholders who own its shares or the economy at large are taken. Meetings are held quarterly or on a monthly basis, along with the need for ad-hoc meetings to discuss urgent issues. They generally follow a standard format and an agenda. They are often private and participants sign non-disclosure contracts.
The term can also be used to refer to a room in the office of a stockbroker, where market quotes and stocks are displayed. The first references to it are rooms in the London Stock Exchange building.
While conference rooms and boardrooms serve similar functions but they are distinct spaces that have their own distinctive ambience and features. The difference between them is in their exclusivity, size, layout, and integration of technology. Understanding these distinctions can help companies to effectively utilize both spaces and increase their effectiveness.
In boardrooms and the C-suites of all over the world, diversity and inclusion are rapidly becoming more than buzzwords. As the movement gains momentum numerous companies are changing their corporate culture in new and innovative ways, and creating new policies to ensure that their employees reflect their customers. But there’s much to be done. The best place to start is in the boardroom.
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