A14 ❘ CHAMBER VOICE ❘ TUESDAY, FEBRUARY 5, 2013 THE TIMES
Chamber Luncheon
An intro to governance JENNIFER HALYK Business Families Centre
I
n a business family enterprise, the family, the owners and the members of the operational business could potentially benefit from governance in different ways. Overall, governance structures are intended to provide each member of each group with an opportunity to express their voice, and subsequently increase communication between all members. While governance does not guarantee each member a formal vote in the affairs of the business, they create a mechanism in which everyone is able to participate in some way. It is intended to create more inclusivity within each group of the family business system, to select or elect representatives or spokespeople for each group, to facilitate the process of decision-making, and to create paths toward long-term success. Governance is intended to create avenues to increase trust and respect between its members, to help plan strategically for the future, and to ensure the long-term success of an organization. Successful and effective governance can have a huge impact on the long-term identity, direction, motives and commitment of the family members, owners and business
New airline at YXX Nor thwester n Air will begin offering regular flights between Abbotsford, Kelowna, and Red Deer, Alta. beginning in March. The company, based in Fort Smith, N.W.T., is add-
representatives in the family business system. Without governance, a family business system can be fraught with problems, including concentrated decision-making to the exclusion of relevant parties, miscommunication or lack of communication between members, a risk of being overrun by emotion or problematic family dynamics, and a host of other problems that could result in failure of the operating business and/or the entire family enterprise. “Good governance creates the structure and discipline to ensure the right people are given the right information to make the right decision,” says Ruth Steverlynck, principal of RES Consulting Group Inc. “Without governance there is a risk that confusion reins, creating the potential for conflicts, misunderstandings and ultimately poor decision-making. As a family enterprise moves from a unilateral decision making system (the owner-founder) to a more complex decision making body (siblings and/or cousins), a proper structure supported by good process, such as good governance, becomes increasingly important.” ■ Read the full White Paper at http:// www.sauder.ubc.ca/Programs/Business_ Families_Centre/Resources/White_Paper_ Series.
Briefly ing Abbotsford International Airport to their regular flight schedule starting March 3. The Abbotsford service will operate on a five-day-a-week
basis and bookings can be made online starting in February. More information can be found on their website at www.nwal.ca or by contacting the Abbotsford International Airport at 604851-1001.
with Master Corporal (retired) Paul Franklin Date:
Wednesday, February 27, 2013
Time: 11:30 am - 1:30 pm Location: Abbotsford Banquet &
Conference Centre 33738 Laurel Street, Abbotsford
Master Corporal (retired)
Paul Franklin
is one of Canada’s most inspirational speakers (voted 10 best by Peoples magazine), a Canadian Hero and a wounded warrior from
Master Corporal (retired) Paul Franklin
the Afghanistan war. Paul is also a co-founder of the Heroes Hockey Challenge.
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Chamber Breakfast
with Finance Minister Michael deJong Date: Time:
Friday, February 22, 2013
7:15am Registration 7:30am Breakfast & Presentation 9:00am Adjourn Location: Abbotsford Banquet & Conference Centre 33738 Laurel Street, Abbotsford
Good Morning Abbotsford Breakfast with Finance Minister Michael de Jong
Join us for a unique opportunity to hear Finance Minister Michael de Jong speak regarding the provincial budget. “This government is fully committed to bringing in a balanced budget this year. After more than a decade of sound fiscal management, we’ve been able to keep taxes affordable for families. We are continuing our focus on strengthening the economy and creating jobs in these tough economic times. That’s why it’s so important to balance the budget - so that we can protect the gains we’ve made.” - Finance Minister Michael de Jong
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