December! Another year! Where has it gone!  

A question, a conundrum, most of us pose and face at this time of year.  

It is usually followed by pondering ‘what have I done, achieved, or accomplished, how satisfied am I with life and am I doing what is important to me?  

And as you reflect on your private and business life, are you doing so with joy, despair or a mix of emotions?  

Congratulations if you are shouting with delight, having ticked all the boxes, but if you haven’t, don’t let yourself dwell on what might have been! 

Restart now, reset the calendar and your goals!  

Do you want to run a marathon, make a million dollars, be the best version of yourself or all of those! Don’t let another year pass you by with missed opportunities, use reflection as a way to begin again with purpose. Look back without regret or remorse, learn from mistakes, and celebrate success!  

Simply put, reflecting, auditing, planning and preparing will set you up to find fulfilment and achieve your desired goals in the coming year.  

If you are a small Business operator, December is the perfect time to reflect on the past year’s challenges, setbacks and successes to better prepare for the next year.  

Get started now with these 7 Activities:  

1. Recharge & Reboot: Take time to refresh and recharge your ‘batteries’ to avoid burnout. Renewed energy and rejuvenation can foster new ideas and thinking, and clearer decision-making. And who doesn’t want that!   

2. Review Performance: Review last year’s sales, customer feedback and marketing efforts to identify what worked and what didn’t. What were the key performers and what were the sleepers? Monitor trends, follow industry changes, and act to stay ahead of your competitors. 

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Where has the year gone! As December closes upon us, this is a common statement heard over coffee, in the lunchroom and at BBQ’s! And usually followed by asking ‘what have I done, accomplished or achieved’! 

Next, there is silence, angst or critical analysis! 

Rather than dwelling on or dismissing the topic why not turn it around with thoughtful reflection. Reflection is looking back, learning from past experiences, to review without regret or remorse, celebrating successes and going forward better informed and energized.  

December is a good time too for small Business owners to reflect, review and reboot! 

Keep reading for the 9 Questions of Reflection challenge!

Simply put, reflecting, auditing, planning and preparing based on the past year will set you up to find and enjoy fulfilment and success in the coming year. 

• Reflect: press the pause button and reflect on what has transpired  

• Review: Identify what worked and what didn’t. Were goals achieved; milestones met. Who, or what contributed to success or didn’t. Give thanks and recognition to those who have been with, your Team, Suppliers, friends. 

• Reboot: re-charge your batteries, refresh and plan with renewed zest and energy.   

Now, challenge yourself and ask the 9 Questions of Reflection:

Tackling a home renovation, making your own wedding gown or planning your retirement, is it a 'do-it-yourself' task or one that requires the skills of a professional!

Yes, that is the critical Question to ask yourself before deciding.

 With any task it's about joining all the pieces of the puzzle together, to fit, function and peform to produce a successful outcome, and we know that can be tricky and challenging. For that very reason it's worth asking the questions, more importantly considering the pros and cons of, DIY or engage a Professional!  

We have all heard the arguments for DIY, do it yourself, its cheaper that hiring an expert, surely it can't be that hard a task and DIY can be fun and rewarding. And don't forget the heaps of free advice from friends and 'web'.

Now ask yourself these 7 Questions, and answer honestly before deciding!

1. do I have the necessary skills and abilities
2. do I have the 'expert' subject knowledge needed
3. what do I know and dont know
4. is this a job I can tackle and learn as I go
5. do I have the right tools and equipment
6. what are the possible risks, accident and financial
7. and critically, do I have the time!

 How did you rate yourself?

As a general rule, the tip is to only undertake projects you feel comforatble with and have the skill set to complete them with 'best' possible results. This applies to any job that needs professional skills and knowledge to fully complete the task successfully. And don't we all want that!

 If you have answered yes to the above, consider carefully the benefits of engaging a Professional. 

These include:

• the contractor is qualified in the field of work
• has the necessary 'tools' and equipment
• provides cost effective expertise
• ensures the job will done correctly (to any regulations, specifications and your requirements)
• in the end it delivers savings in time, effort and cost.

With these positives in mind it makes good sense that with something as important as taxation matters, unless you are a tax expert, why wouldn't you engage a professional Accountant?

In the spotlight Leadership in a digital-age!  

The message to Readers, be aware of the implications and consequences! 

With most aspects of private and Business life in the public arena, never before has ethical and moral behaviour, standards of integrity and honesty been more important. 

Morality refers to an individual's internal sense of right and wrong, doing the ‘right’ thing.   Business ethics are the principles and values that guide corporate conduct, decision-making and stakeholder interactions. These compass honesty, fairness and transparency that go beyond legal requirements. 

Today’s digital–era presents a new set of circumstances. It exposes personal life and professional conduct, and the repercussions when the two collide very publicly!  The slightest of misdemeanors potentially has and do bring down the mightiest of Companies and their Leaders. You have seen the headlines! No Industry is immune or can slip under the radar. 

Ethics and morality are about the Leader who demonstrates these values both inside and outside the Company.  Breach of that code undermines trust and confidence in both Leaders and the Organistions reputation. 

There is the moral manager who promotes ethics through standards and structure along with the moral person who embodies those values in interpersonal relationships, sound moral judgement and personal behaviour. Delve into leadership psychology for more on this subject. 

It’s now apparent after the recent fallout of the very public concert images that when the custodians of ethics, those at the top break the rules, organisational trust, creditability and culture suffer.  These are the damaging consequences that come with associated risks!  Investors are investing in both the product and the Leadership group. Bad publicity and scandal at the highest level threaten confidence in governance and Business stability. 

Simply put, morality has become a Business asset. 

Let’s look at Ethical Leadership more closely. 

Traditional leadership development still promotes strategy and execution, which are important elements, but without ethics, public self-awareness and emotional intelligence, those competencies are insufficient. 

Today’s leadership now requires a new skill, ‘digital-era’ awareness and judgement. Use of Smartphones and social media blurs the lines between professional and personal lives. In this period of constant visibility and exposure, moral failure has consequences for both the individual and Business enterprise.  

And when in the spotlight, a Company’s values are tested, as to whether its ethics are simply words or real operational standards. It’s more than going into damage control. To win back trust and restore integrity, the Organisation must take action driven by vigorous and robust commitment.   

Building ethical trust starts with redefining corporate governance. 

• Choosing Board Members. In our modern era, Member selection should be based on strategic competence coupled with character assessment. Consider, do those in a position of power qualify in terms of ethics and integrity? 

• Company values must be clearly expressed, understood, and enforced regularly. Ethical standards and upholding them are the responsibility of everyone, from the top down. Lead by example.

• HR must be and remain beyond reproach. Accountability and transparency are crucial elements when ethical failings occur by those meant to protect cultural integrity. 

• Leadership Succession Planning. This is vital to ensure that if the situation arises, an appointment can be made quickly to help stabilise the Company. Plan ahead, foster, and develop your Team built on strong Organisational and personal moral and ethical standards. Build a Team on solid accountable foundations.

Takeaways!  

Ethics, integrity and moral behaviour are the responsibility of everyone. 

Think before you act, personally, professionally in private or publicly! 

Failure to implement – Failure to act! 

And who hasn’t, despite knowing what to do and how to do it, we just don't take the action to get it done. 

And small Business are not immune, they too can suffer the implications and ramifications of FTI.  

• They don't do as well as they could 

• Growth is hampered  

• There is lost opportunity 

• Development is stifled 

• Owners are caught up in day-to-day activities, can be overwhelmed or distracted. 

• There is failure to act, to implement, the job doesn’t get done.  

Sound familiar! Do you recognise yourself?  

Yes!  Keep reading, there are strategies and steps to overcome the tendency toward inaction. Lead by example and say goodbye to FTI! 

5 Key Strategies to implement 

1.Internal Inspiration: this is the internal light and energy from within that fuels and inspires your visionary thinking. Inspired successful small Business owners see opportunity in challenges, they are always on the lookout for new ideas and ways for improvement, personally and in the Business. They can see possibilities where others don't. Mind-set is key here. Dream, aspire, have visions and believe you can achieve them.  

2.Embrace Learning:

Family-owned Businesses come in an assortment of shapes and sizes covering a range of industries, including retail & hospitality, health & fitness, Petcare services and tourism! You name it and there will be a family-owned Business ready to deliver quality goods and services to you. 

But behind the scenes often complex family dynamics play out, dynamics that if left untamed or unmanaged can hamper both Business and family relationships and outcomes. Personal viewpoints, status, skills, role and beliefs can and do affect working relationships positively or negatively. 

The key to achieving success is to harness the strengths of family dynamics by recognizing and addressing the complexities of those differences. 

5 Strategies to achieve your Business success:   

1. Develop a Family Constitution: Create a Constitution to guide, inform and direct Members. This is an effective tool to clearly state roles and responsibilities, along with rules that govern interaction between parties. It can also provide a framework for resolving disputes and help clarify members expectations, for example, the process and requirements for members joining or leaving the Business. Such a framework and by adopting good governance practices ensures all family members are treated equally based on ‘merit’, not simply family ties or perceived favouritism, helps minimize risk with family involvement and deal objectively with any issues that may arise
2. Balance Business & Family: separate Business and personal responsibilities and set boundaries to provide work and family life balance. Both are important, take and enjoy time out, set aside 'family' only and avoid bringing Business issues to the family dinner table or family gatherings. Well balanced strong healthy relationships are the cornerstone of personal and Business achievements and successes.  

Failing to let go of the reins in a family business can be fraught with problems and often harmful consequences to the Business and all concerned.  

Not letting go leads to the Business crumbling. Crumbling under the strain of family conflict, a lack of next-generation interest or no ‘suitable’ one to pass the reins to.  

With the founder still holding tightly onto control, new ways and progress can be hampered or ignored. All these issues have the potential for Business dissolution. 

Additionally, by not letting go of the reins, the founder may find both their personal identity and future retirement plans can be jeopardised, along with all that they have worked hard to establish. There are no winners in these scenarios! 

Consequences for the Business and Family Members 

Family Conflict: Holding onto power creates tension and disharmony so severe that the Business is disrupted to the point of dissolution.    

Strained Relationships: As siblings compete against each other, and with no handover or transition planning, the family and Business unit are thrust into disarray. Resentment impacts familial bonds and Business unity. 

 As with all groups and relationships each member comes with their own views, opinions, values and beliefs. Personalities of all types come together, including conversative, traditionalist, liberal or progressive thinkers each with their own agenda.  

Family Business are no exception. 

Put in the spotlight, we see Family Business enterprises are unique in that their personal and professional realms are intertwined. Family Members are the drivers, with the power to influence decisions, they govern, own and control operations. But this doesn’t equate to cohesion, they are no different when it comes to differences. Relationships can be strained, and tensions arise. 

Do you recognise this scenario in your family Business, 'Mary feels overlooked in the promotions, with little opportunity for growth. Discontentment that is festering as sibling rivalry with her brother. Friction now hampers both their performances'. If ignored this can undermine the operations.

The key is to understand the issues and mitigate potential conflict by taking preventative measures. Foster a harmonious work environment. Happy workplace, happy family.   

6 Common differences 

1. Differing Values, Goals and Family vision 

2. Lack of Clear Roles and Responsibilities 

Sibling rivalry, nothing new, but in a Family Business if left unchecked can become a major problem presenting challenges for all concerned! 

Addressing it is crucial! Ignore and the consequences can be great! 

Adopting proactive strategies, planning and communication is key to taming and tempering negative competition and contentious issues. 

Why, how does rivalry occur?  

It can happen when emotional needs are not being met. Siblings compete for parental recognition, attention and reward that can translate to and present in the Business environment. If unresolved, rivalry festers and relationships can become toxic as siblings strive to prove their worth.   

Strategic differences are also factors, such as differences in Business direction, values or approach.  There may also be assumed expectations. All these can manifest as conflict, arguments and disagreements over leadership roles, authority, decision-making or succession planning. 

Consequences: 

Sibling rivalry if left untamed has the power and potential to impact and threaten the stability of the Business activities, family relationships and future of the family entity. Such disputes are destructive resulting in decreased trust, difficulty in reaching or making decisions, and weakened morale.  Worst case scenario family's are torn apart and the Business colapses. 

Example:

Scenario 1: The fights in the media have been played out very publicly as siblings scrabble over who will take over the media empire when their father passes. Family unity is long gone in this succession nightmare as feuding to-be heirs speak through their lawyers. Not pretty or nice!

Scenario 2: On the other hand, another media mogul is enjoying the benefits of thoughtful and careful early Succession Planning. Family members are treated equally without gender disparity, dynasty pressure or inheritance conditions.  This Business tycoon will leave a legacy that has eluded many millionaire and billionaire families in the transfer of inter-generational wealth 

Whether your Business wealth is substantial or modest Succession Planning is a must to put your affairs in order. Why leave things to chance, hopeful good intentions or relationships. You have worked hard to establish a successful Business, to enjoy, reap the rewards and leave a legacy for future generations.  

Not sure what to do or how to prepare?  

Contact Blackburn Accounting we are your Family Business Specialists we offer solutions to the following issues, Succession Planning, Financial structures, Strategic Planning, Retirement and Estate Planning, Resolving conflict and more.... 

Simply said, effective planning is vital to any, to your Business success. 

Developing and writing your Business Plan is the first step when starting a new venture. There are many benefits! 

• Your Plan is a strategic document, a description of how you present your Business to the market, potential customers and investors.  

• It can help you to secure finance, prioritise your efforts and evaluate opportunities. It’s a crucial and essential tool for any Business. 

• It acts as a roadmap and guide, spelling out the key elements that are vital to achieving your goals. It sets the context, objectives and is a way of assessing the viability of a Business venture before investing too much time and money.  

A solid Plan includes these 7 Key components:

The Travelling Wilbury's sang it, but what happens when it is a family Business that has come to the end of the line? There is no next generation or successors to hand over to or, those in line have no interest in running or keeping the business? 

There are a number of steps involved, including winding down, preparing an exit strategy and planning for closure or sale.  

Importantly, early planning and structuring your exit can help to minimise the risk of reduction in family wealth while still meeting your tax and other obligations.  

Sell the Business - This can be the answer and a positive step forward by providing capital for your retirement. 

This step, where applicable, will also allow younger generations to pursue their own interests. Seek professional help, including legal advice, an Estate & Retirement Planner and a Business Sales Realtor.  

Liquidate the Business – this may be the only way if sale or transition are not options. Seek professional legal advice, as there are formal processes that must follow to bring about the end of a solvent company (voluntary deregistration and voluntary winding up).  

5 Critical Steps: 

1. Assess the situation: consider all your options, pros and cons, before acting.   

End of the Financial Year! Why is it a great time?  

It’s an opportunity to take stock of your Business and personal life. A time to reflect, look at what has and hasn’t been achieved, realign targets and reset your goals for the coming year.  

Running a Business! What do you want to achieve? More importantly, how will you accomplish it? 

Think smart, strategically, and take the following 5 simple Steps to reposition your Business for the year ahead. 

1. Undertake a Business Health-Check- This includes review, assessment and evaluation of Business performance in key areas over the past 12 months. For example,  

• Products and Services. Did these meet targets and expectations, yours and customers? What’s performing and what’s not!  

• Financial goals. Is your cash-flow flowing, profit margins healthy, and expenses to budget?

• Debts. Plan, monitor and carefully manage e.g. factor in tax obligations.  

• Get paid faster by streamlining receivables with automated invoicing and payment systems.

• Cut unnecessary costs. Look at waste, trim and explore better deals with suppliers. Examine utilities costs, insurance, energy and stock inventory. Is there a capacity for savings? 

• How’s your bottom line? Examine your profit and loss statements to understand your Business's financial standing. Healthy bottom line, healthy Business! 

2. Refresh Business Goals –

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Handing over the reins of a Family Business can be a smooth ride or as painful as falling off a horse! 

It takes careful planning, consideration and execution to ensure a smooth transition, protection and continuation of the Business success.  

Key to that is having a Succession Plan, one that clearly and comprehensively outlines who, what, when and how and should address any potential conflicts or challenges. 

5 Steps for a smooth transition to handover 

1. Early Planning: succession planning includes choosing a suitable successor, training, and preparing the Business for changeover. It's vital that time is taken and effort invested with preparing your successor/s, whether family members or others, to gain the skills and experience needed.  By guiding and mentoring them you are giving them the tools and setting them and the Business up for continued success. 

2. Choosing the ‘right’ Successor: This needs careful thought and consideration. Handing over the reins to a family member, your children purely for sentimental reasons can be fraught with problems. It's important to evaluate their suitability, experience, skills, and dedication. Are they the best fit? As part of this ‘succession’ changeover process it’s essential that everyone concerned, family and employees, are part of the discussions. This can help make informed decisions, provides different perspectives and with clear communication can help avoid misunderstanding. Get everyone on board to take it forward. 

Who is invited to your Table...or who is not invited?

Invitations to be sent!   Check the list! 

Just like a birthday or Dinner party, when planning a Business Meeting, it's critical that everyone is invited that should be!  

That means inviting those invested in and concerned with the family, connections and networking to have the opportunity to sit at the table.  

In Family-owned Businesses the Business Meeting is a significant event. For that reason, it’s essential that all vested stakeholders are invited to sit around the table, to be there to have a say or not.  An Invitation helps in preventing sometimes perceived favouritism, being left out or neglected, feelings, that if left unchecked foster, can fuel disconnect, and disengagement.  

Bringing everyone to the table provides the opportunity for; 

• Ideas sharing, collaboration 

• Everyone is involved, participation  

• Joint decision making, empowerment  

• Facilitating family harmony, unity 

• Building relationships, strength 

Importantly, in any Family enterprise, key players need to participate to meet their obligations. If operating under a Family Business Board this is critical as there is less opportunity for fluidity of role changes. 

This is where having a strong formalised leadership structure is key. Crucial for all Businesses, including small owner led Family interests, with succession planning for retirement or leave of absence needs to be factored in.  

Smart operators will consider adopting a leadership team model. This can comprise family members and non-family that are selected to undertake specific specialist roles. 

When identifying individuals for roles it makes good sense to consider both job criteria credentials and personality characteristics. Develop the selection criteria for each leadership role based upon family values and the business situation. 

The Table is set. Here is the Meeting Menu! 

1. Send Invitations and Meeting Agenda.  

Give adequate notice. Prepare the Agenda, clearly state meeting purpose, and objectives. Be consistent with planning and scheduling Meetings to give advance notice. This will encourage better attendance and participation. 

A shared passion that creates rewards for all. Yes, the benefits of a successful Family Business are many, including contributing to their own prosperity and the Australian economy by generating employment opportunities.  

A Family Business also brings unique challenges and management complexities such as governance, ownership, leadership and skill abilities.  

Family politics, dynamics, and relationships, for example, can blur the lines of authority. Breakups, divorce and marriage can also disrupt harmony. Nepotism and favouritism can also come into play, along with generational differences, causing friction and faction. 

The new generation is eager to lead but can be held back by hierarchical decision-making, often influenced by traditions and norms. Not to forget the test of keeping family and Business matters separate to avoid dinner table arguments. 

This is why keeping it professional is so important for all concerned. 

Professionalism culminates in the right attitude, commitment, performance, ethical behaviour and discipline aligned with the Business vision.  Professionalising the Business is about adopting such practices to protect the stability, welfare and success of both members and the Business interests.  

How to do it! 

9 Ways to Professionalise your Family Business

Moving chairs can present itself for various reasons, including those from within and outside. And it’s more than just moving furniture! It takes open communication, defined governance, and sometimes external expertise to navigate the complexities of interrelated, personal, and professional dynamics. Ideally, family harmony, relationships and the Business unit survive the move and continue to thrive! 

• From within, examples include retiring members, promotional ambitions, or others wanting a different role.  Deaths, marriage, divorce and births and changing values and aspirations of each new generation can also play a part.  

• Externally, the business environment exerts continual pressure for change, and innovation that can require dramatic change to how and by whom the Business is managed and run. The key is to see change as an opportunity rather than a problem, threat, or obstacle. 

To be successful, a family Business must be prepared, equipped and skilled to respond to both internal changes and external Business developments. It’s a balancing act! If too much time is spent dealing with pressing and sometimes disruptive family issues, the risk is not giving enough attention to the Business, its stability and future.  

8 Key Strategies for Moving Chairs  

1. Establish clear governance – creating a formal structure (Family Council, Board) is the framework for a strong Business unit. They can differentiate between Business operations, family issues, and ownership matters. This distinction helps separate and prevent emotional connections from clouding business decisions. Good governance underpins a strong Business unit. 

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'Parting is such sweet sorrow'! a famous sentiment by Shakespeare. How true, and whether in our personal or professional lives parting ways plays out in different scenes. Let the story begin!

Family Businesses are usually built on a common purpose, commercial activities and a web of intricacies, including kinship and history. All merge, converge and sometimes diverge.  

Diverging, the parting of ways! This can be a time of celebration, planned retirement, and popping the champagne bottle. But on other occasions, it is a more tumultuous time. Divorce, internal disputes or partnership breakdowns can bring irreparable damage. Damage requiring professional financial and legal advice to deal with the complexities. 

Parting on good terms. Early Succession Planning is usually at the heart of this scenario. A typical situation, the Business founders are ready to retire and hand over to the next generation. Time to step away, take and enjoy that well-earned retirement. 

This Business has a strong structural framework, formal governance practices, along with backup contingency plans. These arrangements are developed to support what’s good for the Business and family members. Members’ roles, responsibilities and skills are defined and recognised. Importantly, these arrangements are legally sound and documented. 

Parting on bad terms. Business breakups are painful and costly and if you have experienced one I am sure you will agree. Divorce of Business partners, generational conflict and sibling rivalry are common examples. The stakes can be high, and emotions are elevated, particularly when the interplay of professional and personal dynamics clash!  

There have been some spectacular publicly exposed examples, corporate giants in disarray but family Businesses too can experience breakups.  Dissolution and despair are words that come to mind. Professional help and intervention are usually needed in these situations. Legal advice, Lawyers, and financial experts are engaged to deal with the problems and ideally find solutions. 

7 Key Foundations to build harmony.  

Behind and at front of a family Business are the family members, the driving force of success. It is this performance, investment of self along with family unity, pride and loyalty to the Business that achieves the best results. This is often described as socioemotional wealth that contributes to overall performance and results. A positive harmony of relationships.

But this harmony sometimes goes off key. Family Businesses become management nightmares, with conflicting missions of making a profit and providing jobs for family. For example, problems arise when family are underperforming at the expense of the Business performance.

What happens when relationship dynamics are not dynamic. How do you deal with under-performing, uninterested or unenthusiastic family or relatives? And What to do if rules are not adhered to, or relationship lines become blurred or overstepped!

What to do! Get back into tune by adopting some sound ‘people’ management techniques.

Firstly, let's look at performance, what influences and determines it.  The top 4 factors are:

1. Company culture
2. Employee engagement
3. Performance management
4. Dealing with people problems

Company culture sets the framework. This is an agreed Mission statement and vision for the future that underpins the organisation. It is the shared values, behaviours and attitudes that make up a work environment and aligns with company branding and messaging.  Culture is what creates the day-to-day experience at a company. The key is getting everyone on the same page.

Employee engagement. Whether employing outside recruits or family members, fair and equal processes and systems must be in place. Appointment on skill and merit is vital, supported by appropriate training as needed for all employees. Nepotism is a weakness of family businesses when those not qualified are selected or promoted, causing inefficiencies or resentment. 

The importance of structures in Businesses can't be stressed enough!

How strong are your Business arrangements?  

You may be a family Business of close-knit members, likeminded and wanting the best for all. You may be thinking that is enough, that you don't need formal processes documenting how decisions are made or who makes them. But as the family changes and grows so do visons and expectations. There comes a time when formal governance structures are critical to provide direction and to reinforce the family's vision and goals. 

In essence, for Family Businesses, strong structures are crucial for the long-term success and sustainability of the business and relationships.  

Without clear governance structures Businesses can lack direction, experience miscommunication and be vulnerable to tensions and family-dynamics conflict. 

The benefits of strong Structures include: 

• establishes clear roles,  

• facilitates transparent decision-making,  

• better manage potential conflicts,  

• ensures a smooth transition of ownership and leadership across generations,   

• supports best practice and professionalism by providing formality, authority and clarity. 

What can a Family Business Structure look like 

• A Board 

• Family Council/Forum 

• Advisory Board 

• Senior Executive Team 

Business Structures come in two forms (Bodies) and Documents. Bodies including the above and Documents, for example; Family Constitution/Charter, Mutual Obligations Charter, Meeting Procedures and Decision Making, Pre-Nuptials and Binding Financial Agreements. 

4 Reasons why Structures are Important 

1. Governance structures, such as a Family Business Plan or Family Constitution establish clear roles and provide a framework for decisions and effective communication, serving both the interests of family and the Business. This framework that separates Ownership and Management provides a clear distinction between family members as owners and those in management roles, helping avoid conflicts of interest. Also, formalizes decision-making procedures and processes by outlining who has authority, and ensuring decisions are aligned with the Strategic plan.