For a company to survive the current economic challenges, administrative meetings are important tools to check if the company is prepared to tackle all the possible problems that will occur during the financial crisis.
Administrative meetings have to be held regularly. As much as possible, all the people involved in the management and decision-making in the company should be present during the meeting. This process can help the company in several ways
* Setting up goals
Administrative meetings at the beginning of the year or of the quarter can be used to define the goal of the company for that period. They can define their targets based on the current market trends. Setting goals for the company will help the employees know what their company would like to achieve.
* Company performance evaluation
If administrative meetings are done at the end of a quarter, these are usually done to evaluate the performance of the company. The administrators can analyze if the company was able to meet its targets and if it has a potential of achieving more in the following months.
* Discuss company issues
These meetings are also the opportunities to discuss the current challenges in the company or organization. Managers should prepare report on their department’s performance and challenges so that the higher management can address any problems in the organization.
* Come up with better policies
As the higher management evaluates its goals and performance, they can also take time to assess if the existing policies in the organization are helping the company to move towards its vision. They should also check if their policies still meet the local and national laws. If there had been some protests from the employees, the administrative meeting is a good venue to discuss if adjusting towards the employees’ requests can balance the interests of both the company and its employees.
* Create a report for the investors
Because this period is used for goal setting, assessment and policy revision, the result of the administrative meeting should be made available to the investors and to other people in the organization. By letting the members of the organization know if the company is able to meet its goals and what the company intends to achieve, the concerned individuals can also make the possible adjustments to assist in achieving the organization’s goals. The latest report from the administrative meeting can also be presented to potential investors when the company intends to expand.
Because of the importance of administrative meetings, every top officer should take time to attend and share ideas during this gathering. As much as possible, the meeting should be set at least two weeks in advance to ensure that all parties could put it on their schedule.