What is your idea of a Company Meeting? Have you ever been in one? Companies conduct meetings on a different basis. Some do it bi-weekly, others do it monthly or quarterly. But do not get me wrong, your idea of a meeting is probably correct. Well, meetings are defined as an assembly of people, especially the members of a society or committee for discussion or entertainment.
Having the idea that meetings are simply gathering, planning and discussing stuff about your company is true. It may be as large as 1000 members (or shareholders), or 5 members, coming together and talking about business, entertainment, and the likes are considered meetings. But, you will be surprised by this one, there are actually a variety of meetings that are being conducted by companies (and I am talking about BIG companies). Before we proceed, I want you to understand that there are Different Types of Company Meetings. Let's start!
First of all, company meetings vary, depending on the parties (person or group of persons) involved, agenda, structure, and importance, but company meetings are generally categorized into four kinds:
- Meetings of the Shareholders.
- Meetings of the Board of Directors and their Committees.
- Meetings of the Debenture Holders.
- Meetings of the Creditors.
- are also classified into 4 kinds, however, lets not deep dive into those classifications, let’s just say that Meeting of the Shareholders is following a certain path in terms of meeting together and discussing the future of the company. Starting from (1) Statutory Meetings- which was the very first meeting held right after the start of any company. Yes, you could have been part of may statutory meetings on your career until now. (2) Annual General Meetings, which is, of course, held before the year ends, to talk about the journey of the company on that year. (3) Extraordinary General Meeting (or EOGM), you read it right, this kind of Shareholders Meetings are done outside the normal period of scheduled meetings. EOGM are conducted to talk and discuss other matters, which is outside the usual line of business of your company. It does not have to be done before any Annual General Meeting, but EOGM cannot be postponed until the next Annual General Meeting. (4) Class Meetings, which as the name suggests, are Shareholders meetings of the same class and should not be joined or conducted with everyone on board the company.
- or simply Board Meetings are regularly held within the company. It should be conducted frequently as this is a critical part where all the members of the board will be able to discuss and decide the future of the company. From getting new ideas for management or policy within the company, up to new product designs and ideas are being raised and decided upon during this gathering.
- as complicated as it sounds, these are the type of meetings that involves the debenture (or individuals or group of individuals that lends money to keep the company running) of a particular class. Mind you that debentures are different from shareholders, but let's talk about that on a different day. Changing and remodeling the rights or updating the rates of each debenture class are being discussed here which will be raised to the next Board Meeting.
- (again, different from Debentures and Shareholders). These kinds of meetings are not strictly speaking meetings of a company. It is being done when there is a need or proposal of changing the arrangements between the company and the creditors, which is only present when needed.
Meetings are held to discuss the Key Points of every company. So whether its a Board Meeting, Annual General Meeting or Meeting of Creditors, it is as important as the other. Those meetings serve a purpose for the future of the company, as individuals are discussing the present state of their company, and how much more can they improve on.
Conducting meetings are as important as the day to day business of every company, or simply BAU (business as usual). And these meetings participated with people of major roles in the company. People that bring change and the feeling of unity within the company. Events like these are one of the major services that are catered by AMI PH. See, AMI PH is an Events Organizer that is very particular in holding successful meetings. To know more about HOW AMI PH can help your Company Meetings, click on this link.
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