The boardroom is a designated location where those who supervise operations and management of an organization meet. Shareholders vote on the board members and are accountable to them for their actions. They are accountable for addressing the most pressing problems that the business may face, and for fulfilling their duties as fiduciaries on the interests of investors. They are accountable for hiring and firing senior employees, setting broad goals for the company as well as supporting executive duties and ensuring that the organization is well-managed and has adequate financial resources.
The term can be used to describe a meeting room or conference room, or any space where a group of people holds discussions on important business issues. These meetings include presentations and other material to aid in the decision-making process. Due to the sensitive nature of information discussed during these meetings, it is often held in a space that is separate from the rest of the office to reduce distractions and maintain privacy.
These rooms can also be outfitted with chairs and tables to accommodate all the people who are taking part in these important discussions. These rooms can be equipped with video conferencing to facilitate board meetings that are conducted remotely. The boardroom is where key decisions are made. These decisions can be affecting everyone, from employees to investors who own shares of the company. The decisions could affect everything from the way a company operates to its bottom line in some cases, even the economy as a whole.