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| L to R: Jim Taylor, Lynn Clarke, Rob McIlroy |
Jim
Taylor, ABARTA Board Chair and Oil & Gas President and CEO, participated in
a panel with two other board members from privately-held companies to address a
group of approximately 100 family business owners in Pittsburgh on Wednesday,
November 6th. This was one of
nine educational seminars hosted annually by the Institute for Entrepreneurial Excellence at the University of
Pittsburgh Joseph M. Katz Graduate School of Business (http://entrepreneur.pitt.edu).
Because Jim
knows first-hand the value of ABARTA’s Board of Directors, he was able to speak
from experience about what he perceives is one of our greatest resources. ABARTA Board Member Lynn Clarke, who is CEO
of MetroKitchen.com (http://www.metrokitchen.com),
and Rob McIlroy, Board Secretary and Vice President of Robroy Industries, also
joined Jim on this panel.
The role
and importance of a board – including why and how to establish one – were among
the topics discussed. Panelists
enumerated reasons to have a Board, explained the four types of Boards,
detailed what makes an effective Board, and gave the Top 10 Benefits of having
a Board. Jim says that he was about 35
years old when ABARTA was transitioning from the 2nd to the 3rd
generation of owners, and that is when they adopted an independent Board of
Directors. Statistics say that only
about 12% of 3rd generation family businesses survive, and fewer
than that grow and thrive. ABARTA’s leadership
wanted to ensure the company’s success and survival.
Our
independent board, made up of members who have specific industry and functional
expertise, provides essential support, encouragement, guidance and helps to
make ABARTA a better company. They ask
tough questions and are not afraid to ask about touchy subjects. They anticipate issues, guide key management,
set goals and enforce follow through, act as a sounding board and bring outside
perspectives to the table. This provides
for more creative thinking and decision making and ultimately will help our
family business leadership achieve its vision.
The
ultimate goal is not only survival but success, and ABARTA appreciates the role
our independent board plays in that success.
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