There are many advantages and disadvantages of meetings which should be known by all. It will be very helpful if anybody knows about them before arranging a meeting. The noteworthy benefits are mentioned below:
Advantages of Meetings
1. Opportunity to share knowledge: The meeting provides an opportunity for an assembly and therefore members get a chance to share ideas, knowledge, views, and feelings.
2. Know the reaction: The speaker of a meeting can instantly know the reaction of the members. Therefore, he can adjust his speeches.
3. Easy decision making: Two heads are better than one and therefore decisions reached in a meeting are the best outcome to solve any purpose.
4. Participative management: A meeting usually provides the scope of participative management. The slogan of “Equal Opportunity” is ensured through a meeting.
The meeting is a democratic process where each member has the voice to contribute to any decision to be taken. The practice of democracy brings out a better idea for solving any issue.
Disadvantages of a Meeting
Inspire of enjoying various merits, a meeting is not free from demerits. Some demerits are mentioned below:
1. Difficult to control people: In a public meeting, it is very difficult to control a large number of people.
2. Time-consuming: Arranging any meeting involves huge time which acts as a limitation to decision making.
3. Costly: The meeting requires decoration of the venue, arrangement of accessories, and invitation or notification to the members. Moreover, it involves conveyance or entertainment. The whole process is costly.
Requirements for a Valid Meeting
The meeting is a gathering of individuals to take some decisions. The following requirements should be considered to have a meeting legal or valid:
1. There should be a legal convener who will call a meeting.
2. The notice of a meeting must be issued to all members highlighting the following things:
- Date of meeting
- Venue of meeting
- Starting time of a meeting.
Section 113 of the Company Act 1994 requires the notice of a meeting to be sent to every member by mail or personally to his registered address.
3. The notice of a meeting should be sent in time through appropriate media. Whereas, a notice of a company meeting should be sent to every member 21 days before the meeting is held.
4. Items or topics of discussion i, e, Agendas should be sent to every member before a meeting is held.
5. Only authorized people will be participating in a meeting.
6. A meeting must have a chairman. Whereas the companies Act 1994 requires that the chairman should be any member elected by the participating members.
7. A meeting must fulfill quorum i, e, the minimum people as required by the meeting should be present.
8. The Proceedings of the meeting i.e., minutes should be kept properly.
9. A meeting must be confined to the agenda and any resolution passed beyond the agenda will be regarded as invalid.
Related Content of Company Meeting:
- Difference between Minutes and Resolution
- Resolutions Definition and Requisition of Resolutions
- Types of Resolution in Accordance with Company Act
- Ordinary Resolution and Special Resolution
- Resolution by Circulation and Resolution Requiring Special Notice
- Minutes of Meeting Sample / Template / Format and Example
- Notice of Meeting Sample / Template / Example / Format
- Classification, Principles, and Importance of Minutes
- Difference between Minute and Proceeding