The Billionaire's Past novel Chapter 10

CHAPTER 10

Boardroom is a place where only selected members of the board is present to discuss and plan.

The primary function of a boardroom is to house meetings of a company’s board of directors, a group of individuals elected to represent shareholders’ interests.

Board members use the boardroom to discuss and decide how to handle the company’s most pressing issues

Boardrooms contain a big enough table and an adequate number of chairs to seat all those present and be located in a setting that promotes privacy.

As its name implies, the boardroom is best known as a room used by a company’s board of directors, a group of individuals elected by shareholders to represent them and protect their interests.

Board members can generally be divided into three categories

First, the Chairman:

An individual who heads the board and is responsible for ensuring that it runs smoothly. Elected by the board of directors, a chairman's duties typically include maintaining strong communication with the chief executive officer (CEO) and other high-level executives, formulating the company's business strategy, representing management and the board to the general public and shareholders, and preserving corporate integrity.

Second, the Inside Directors:

These board members are either shareholders or high-level managers from within the company, such as the chief operating officer (COO) or the chief financial officer (CFO). Their main tasks include approving high-level budgets prepared by upper management, implementing and monitoring business strategy, and giving the green light to core corporate initiatives and projects.

Third, the Outside Directors:

Unlike inside directors, these individuals are not directly part of the management team. They do, however, have the same responsibilities. The role of an outside director is to offer external insights, providing unbiased and impartial perspectives on issues brought to the board.

The frequency of meetings between members of a board of directors varies, depending on the type and size of the company. Usually, gatherings of board members would be expected to occur in a specially designated boardroom at least every business quarter.

A quarter is a three-month period on a company's financial calendar that acts as a basis for periodic financial reports and the paying of dividends.

A quarter refers to one-fourth of a year and is typically expressed as "Q1” for the first quarter, “Q2” for the second quarter, and so forth.

Quarterly reports are a crucial piece of information for investors and analysts.

1:00 pm Thursday, in Bosnia and Herzegovina

H & A Summit Holdings, Inc. boardroom.

Atif is on the boardroom conducting a meeting with the board members of H & A Summit Holdings, Inc.

His grandfather Haris is on business trip to the capital city that’s why Atif conduct the meeting as a representative of his grandfather.

The first agenda of the meeting is about the quarterly financial reports and the paying of dividends.

Second is about the new business that his grandfather Haris wants to open.

A manufacturing company which products are perfume.

Atif start his discussion about the business proposal.

And now he is discussing about the raw materials needed in manufacturing a perfume.

“Perfume is mixture of fragrant essential oil and aroma compounds, fixatives, and solvents used to give the human body, objects, a living spaces a pleasant smell…”this is what Atif is discussing when his phone chirped and vibrated on his pocket. He wants to pull it out and read the message but he can’t for he is in front of the board members discussing.

Atif knew that the message is from Aliyah for it is 8:00 pm now, in Asia time zone.

He used to the time when Aliyah send a message.

Atif knew that Aliyah is waiting for his reply but he can’t reply for he is so busy right now doing his job.

He has no time to reply.

“…. And about the supplier of the raw materials I already found a good company to supply our needs.” Atif continue his discussion.”

His phone chirped and vibrated on his pocket again.” Ah, what is her problem?” Atif think that maybe Aliyah has a problem again this time and need someone to talk with it.

“Our target customer for example are millennial women, young men and…” Atif continue his discussion presenting the target market of the new project.

For the third time around, his phone chirped and vibrated.

Once again he wants to read the message and reply but he cannot.

He is finished discussing the whole project proposal but he is busy answering the questions of the board members.

They hit Atif with too many questions not because they don’t agree with the new project but they are interested on it.

The new project was approved by the board because they are convinced with the presentation of Atif.

In the next board meeting they will discuss about the implementation of the new project.

After an hour the meeting is adjourned.

Then the board members leave the boardroom one by one after talking to Atif with some clarification and congratulate him for being in charge of the new project.

They believe that if Atif handle the business it will become successful.

And for sure they will gain more profit more than what they expected.

For Atif is a smart guy, he can handle and manage every business assigned to him by his grandfather, Haris successfully.

When all the people leaves the meeting room, Atif immediately pull his phone from his pocket.