in British Columbia 1951-2011 How to surf the social media ... · How to surf the social media wave Sustainable: by all accounts The socialized professional Rules of engagement Strategies

40069088

Vol. 38 / No. 1 • SPRING / 2011

A PUBLICATION OF THE CERTIFIED GENERAL ACCOUNTANTS ASSOCIATION OF BRITISH COLUMBIA

How to surf the social media wave

Sustainable: by all

accounts

The socialized professional

Rules of engagementStrategies for implementing social media

A step-by-step plan to launch your social media presence

60 Years of Excellencein British Columbia 1951-2011

Jason Trefanenko, CGAHeather Maclean, CGA student

Surviving the leapOne CGA’s foray into social media

60 years young! Celebrating CGA-BC’s Diamond Anniversary

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features views spotlight

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contents

The socialized professionalSocial media expert Shane Gibson walks you

through a step-by-step plan to launch your

social media presence

rules of engagement Heather Lutze outlines five strategies for

implementing a social media policy in your

organization

the social Cga Jason Trefanenko, CGA, describes how his

firm uses social media to achieve business

objectives

i am not a social media expertCGA Merge Gupta-Sunderji makes a bold

leap into Twitter, blogging, Facebook and

LinkedIn – and lives to tell the tale

style matters Catherine Dunwoody describes the latest

spring styles that will have you looking

your best

Cover photo by: Ron Sangha

taxmatters Everything you need to know about the tax settlement process

techview Gabriel Vitus forecasts the top trends for 2011 after visiting the Consumer Electronics Show

periscope Integrate a high-performing coaching culture and watch your organization successfully adapt to change

ethics in focusEvaluating an ethical dilemma

publicpractice Edifier Krista Remer defines the nine key behaviours that create a trust-filled organization

associationnews

keepingTabsCGAs in the news and members on the move

currentAssetsA round-up of all the latest gadgets, technical gear and apps

snapShotsCGAs out and about

partingShotA Q&A with Lisa Payne, CGA, CFO and VP Business Development for the BC Innovation Council

morethanNumbersLetting the data tell the story

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Vol. 38 / No. 1 • SPRING 2011

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Bradley Potter, ACII, CIP, Managing VPJohn Wright, BComm, CMA, CRM, CAIB, EVP Western Canada

Administration:Josie Carlstrom, VP Administration & HRFreda Xue, BSc, MHM, CGA, Controller

BFL Vancouver Office Professionals: Commercial:Glen DeMara, CAIB, VP Business DevelopmentGrant Alsop, B.A., CIPCathy Daniels, CIP, Commercial Claims ManagerShaun Freeman, CAIBRex Hannibal, ACIIConnie Hanson, FCIP, CAIB, CRMAlex HarrisonTrudy Lindsay CAIB, FCIP, CRMBrenda Mendieta, FCIP, CRMRobin Messenger, AIICRandy Nobbs, BBA, CAIB, CIPAlexandra Radziwill, B.A., CAIB, CIPColin Roberts, AIICLinda Simmons, CAIBMark Skeans, BComm., B.A., CIP, CRMAnne Taylor, CIP, CRM

Construction:John Donovan, VP National Practice Leader ConstructionDanny Patten, B.A., VP National Practice Leader SuretyFred Moroz, B. Econ.Jeff McLellanShaun Thompson

Programs & Personal Lines:Arlene DeLair, CAIB Manager Personal Lines & Fleet ServicesLori Sutherland, CAIB

Real Estate:Christina Garson, CIP, CAIB, VP Real Estate DivisionGareth McDonnell, MBA, ACII, CRM, CIP, VP Operations Real Estate

Paul Duchaine, CIP, Real Estate Claims ManagerPaul Murcutt, CAIBSteve StorreyScott Wallace, CAIB, CIP, CRM

A proud sponsor of the CGA-BC Conference.

Freda Xue, CGA, Glen DeMara, Grant Alsop

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Cga celebrates 60 years in British ColumbiaReflections on the past and looking to the

future. Page 6

04 outlook outlook 05

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editor’smessage

Welcome to the first issue of Outlook for 2011. This is a banner year for a variety of reasons. First, CGA-BC is celebrating the 60th year of its incorporation. The As-sociation will be paying tribute to this important event throughout the year and you can read about the anniversary in this issue. You’ll also see our new celebratory logo proudly displayed on the cover.

It’s fitting that in this impor-tant year, CGA-BC has hit a sec-ond major milestone: Anthony

Klassen, CGA, a resident of Delta, has become the 10,000th mem-ber of the Association. CGA-BC is now the second largest CGA affiliate after CGA Ontario.

Now, cast your mind back to the early 1950s, and try to imag-ine what the Outlook of that day might have been writing about. Back then, the official journal was the General Accountant and it, along with the Association’s professional development, fo-cused on traditional accounting issues and other matters such as internal controls, management and financial budgeting.

Fast-forward to 2011 and the topics are quite a bit different. This issue presents a focus on social media, a concept that few could have imagined back in 1951, and the Association’s new IT Forum, which is taking place in Vancou-ver, November 7 - 8, 2011. Writers in that time were more focused

on technological conveniences that were expected to shorten the work week and designed to reduce workloads. The idea of a handheld device that allowed you to communicate and review information just wasn’t on the horizon back then! In 1951, the ‘walkie-talkie’ was the closest thing to ‘mobility’ that anyone was going to get – and that was only available to the military. Gabriel Vitus’ column emphasizes that amazing leap forward with

his focus on what is new for 2011 at the Consumer Electronics Show in Las Vegas including the latest in 3D technology.

We also have a glimpse into what the world of style holds for the year ahead. And Parting Shot profiles Lisa Payne, CGA, who is CFO and Vice-President of Business Development for the BC Innovation Council. In many ways Lisa and her organization’s focus on technology (including social media), captures the innovative spirit of the CGA designation and everything we have achieved here in B.C. since 1951 and across Canada since 1908. As she says, innovation “is about finding cre-ative new ways of doing things through renewal or existing processes.”

I think that is something that CGAs and their designation are well known for. Happy anniver-sary everyone.

CGA-BC is now the second-largest CGA affiliate after CGA Ontario

edward Downing is Cga-BC’s Director of [email protected]

outlook

executive committeeChair: Bruce Hurst, FCGAPast-Chair/Treasurer: John Pankratz, FCGAFirst Vice-Chair: Cindy Choi, CGAChief Executive Officer and Secretary: Gordon Ruth, FCGA

executive staffChief Executive Officer: Gordon Ruth, FCGA Director, Administration, HR & IT: Dan Cheetham, CGA Director of Marketing & Communications: Edward Downing, MA (Journalism)Director of Education & Student Services: W. D. (Bill) Johnson, FCIS, PAdm, FCGADirector of Corporate Affairs: Juliana Laing, BADirector of Public Practice Services & Public Practice Advisor: Tina Peters, BA, CGADirector of Member Services: Pamela Skinner, BSc, CFP, CGA

outlook staffManaging Editor: Edward Downing (604) 730-6208Communications Manager: Patrick Schryburt (604) 730-6238Communications Officer: David Ferman (604) 730-6206Production Co-ordinator: Trevor Hargreaves (604) 730-6226Advertising Co-ordinator: Pardeep Clair (604) 730-6228Graphic Design: Core Associates Communication Design Inc.Regular Contributors: Ed Kroft, QC, LLB, LLM, CGA (Hon.); Dr. Michael McDonald, CGA (Hon.); Gabriel Vitus.

advertisingFor advertising rates, contact Pardeep Clair at (604) 730-6228 or visit our website at www.cga-bc.org. Outlook is the premier way to contact B.C.’s CGAs.Advertising in Outlook magazine does not indicate an endorsement of any business, organization, service or product by CGA-BC.

Outlook is published four times a year by the Certified General Accountants Association of British Columbia and is sent to more than 14,000 CGA members and CGA students. Opinions expressed are not necessarily endorsed by CGA-BC. Copyright CGA-BC 2011.

articles, enquiries and lettersArticles, enquiries and letters should be sent to Outlook: CGA-BC, 300-1867 West Broadway, Vancouver, BC, V6J 5L4(604) 732-1211 or (800) 565-1211 ISSN 1488-2337 Outlook - Certified General Accountants Association of British Columbia

CGA on the webMembers and students, you can find all of your most important CGA-BC services online at www.cga-bc.org.

Agreement no. 40069088Return undeliverable Canadian addresses to:CGA-BC, 300-1867 West Broadway, Vancouver, BC, V6J 5L4Printed in Canada

Suite 1100 1177 West Hastings Street Vancouver, BC, V6E 4T5 Telephone: 604.687.4544 Facsimile: 604.687.4577 www.bmmvaluations.com

Blair Mackay Mynett Valuations Inc.

is the leading independent business

valuation and litigation support practice

in British Columbia. Our practice focus

is on business valuations, mergers

and acquisitions, economic loss claims,

forensic accounting and other litigation

accounting matters. We can be part

of your team, providing you with the

experience your clients require.

Left to Right: Ron Parks, Chad Rutquist, Robert D. Mackay,

Farida Sukhia, Gary M. W. Mynett, Chris Halsey-Brandt, Cheryl Shearer, Jeff P. Matthews,

Kiu Ghanavizchian, Vern Blai r.

Tickets are fast selling out to the Associa-tion’s 2011 Quar-ter Century Club

featuring special host Sophie Lui, anchor of Global TV’s top rated morning news program.

Like most of the men and

women she will introduce at the ceremony, Lui is a home-grown success. Born and raised in the Lower Mainland, the BCIT broadcast radio graduate says she’s looking forward to the event.

“CGA has been at the heart of the B.C. business commu-

nity for 60 years now,” said Lui. That’s a great testament to the men and women who’ve represented the Association for these many years. It’s go-ing to be a great opportunity to meet so many of them in person. And if there’s any

down time I just may ask for some tax advice.”

Lui has been a part of the Global BC team for several years in both Vancouver and Victoria. Now she sets her alarm even earlier, as co-host of the Global BC Morning News. She joked that because

she has to be up at the crack of dawn, “There’s no way I’m going to allow the Quarter Century to fall behind sched-ule. You CGAs may be able to keep going for 25 and 50 years without any problems, but I get up at 2:30 a.m., and I’m always looking forward to my next nap.”

We may need to remind her that there are no commercial breaks and that CGAs love nothing better than to stay up late reminiscing with old friends.

This year’s Quarter Century Club welcomes 216 “new” members, those loyal men and women who joined CGA-BC as members in 1986. And we will also celebrate 17 members emeriti, outstand-ing members who joined our Association in 1961.

One of the most enjoyable events of the year, the Quarter Century Club allows members a rare opportunity to recon-nect with CGA friends and colleagues. As we salute every QCC member, we also have the chance to see ourselves as we were 25 years ago. Some-times that’s an opportunity for a bit of friendly humour.

Look forward to an evening of fun, appreciation for your years of service, a great meal and a chance to make some new memories.

2011 quarter century clubsophie lui adds star power to 25-year reunion

associationnews

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outlook 0706 outlook

He didn’t know it at the time, but when CGA-BC welcomed its newest CGAs into membership this past February, Anthony Klassen, CGA, had the honour of being the one who pushed through the membership turnstile when the Association officially reached 10,000 active members. Of course, since 1951 the Association has served the interests of far more members than that but this was the first time in its history that it could count 10,000 current CGAs in B.C.

“We are proud that CGA-BC has just admitted its 10,000th member,” says CGA-BC Chair Bruce Hurst, FCGA. “This, combined with the nearly 5,000 stu-dents in our program, is a testament to how ‘CGA’ has become the professional accounting designation of choice in the province.”

And if you consider Klassen’s reasons for choos-ing ‘CGA’, this milestone looks like it will be merely a pit stop on a long journey of CGA growth in B.C. “I appreciated the flexibility the CGA program offered,” says Klassen. “I also liked that I could work full-time in conjunction with my studies.”

Klassen, who is currently the Assistant Controller for Marpole Transport Ltd. , is keenly aware of what a CGA designation means for his career. “Having these three simple, yet incredibly difficult to obtain, letters behind my name provides me with career advance-ment opportunities that would be unavailable to me otherwise,” he says.

As CGA-BC’s Chair notes, the Association is working hard to help CGAs like Klassen realize those opportuni-ties. “Our goal is to be an indispensable resource for lifelong learning and to provide innovative services for our members and students,” says Hurst.

From his perspective, Klassen agrees the work is paying off: “What I like now about having chosen the CGA designation over the others is the Association’s marketing drive in making the brand more prominent, recognizable, and respected.”

Integrity. Trust. Professionalism. These are the characteristics CGA-BC’s 10,000th member used to describe ‘CGA’. As history has shown, they are apt qualities to describe the many who have come before him, and as the future will soon show, they will likely describe the many that will follow.

Mr. 10,000

CGA Celebrates 60 Years in B.C.Reflections on CGA-BC’s early years and its bright future

Throughout the year, CGA-BC

will promote the Associa-

tion’s 60th anniversary and

in so doing pay tribute to the

thousands of members who

have come before and inspire

the untold number of Certi-

fied General Accountants yet

to come. The Association has

designed a special 60th anni-

versary logo to commemorate

this milestone. It features an

emblematic ‘60’ superim-

posed over mountains that

serve as a graphic represen-

tation of British Columbia and

a fitting tag line: ‘60 Years

of Excellence.’ The blue and

gold design incorporates the

colours of the Association’s

branding campaign.

This is a historic year for CGA-BC as it marks the 60th an-niversary of the Association’s founding by an act of the Brit-

ish Columbia legislature on April 18, 1951. (The designation was founded in 1908 in Montreal and received a charter through the Parliament of Canada in 1913). Since then, the CGA designation in British Columbia has grown in importance, popularity and prestige.

As testament to this growth, the Association today boasts more than 10,000 members (see sidebar) and nearly 5,000 CGA students. “It is telling that two thirds of all students desiring a professional accounting designation are

choosing CGA,” says CGA-BC Chair Bruce Hurst, FCGA.

Of course, there was a time when the Association could not boast such lofty numbers.

“The challenge early on was trying to get members to join,” says Robert Mor-row, FCGA (retired). “I received my des-ignation in 1947 and I knew CGA would be a great organization so I was trying to convince my friends and colleagues to join.” In his mind, the advantage to becoming a CGA was straightforward. “I had looked at other programs but I chose CGA because of the opportuni-ties it offered,” says Morrow.

Devoted members like Morrow were a hallmark of the Association’s

first few years and dedication and commitment remain important factors in the success it enjoys now. “CGA-BC has evolved from a volun-teer-based organization to one that is professionally managed by a staff of very talented people,” Hurst says. “I am proud of our accomplishment to date, and excited about what is still to come.”

The Association’s Chief Executive Officer echoes Hurst’s sentiments: “Since 1951, thousands of members and many dedicated employees have worked hard to ensure that the CGA designation is recognized for excellence and professionalism in all aspects of accounting, finance and

business management,” says Gordon Ruth, FCGA. “The cumulative effect of this work is that our members are highly regarded for their accounting expertise, their leadership abilities and their strong code of ethics,” Ruth adds.

Today, reflecting back on his ca-reer, Morrow, who earned his Fellow-ship designation in 1975 and became a Life Member in 1981, knows that he made the best choice. “CGA has really meant everything for my career,” says Morrow. “My designation is what was responsible for my well-being, my financial success.” When asked if having a CGA designation means more today, Morrow is emphatic: “Absolutely,” he says. “It is an even better career option now because of the tremendous variety in account-ing today.”

Morrow celebrated 50 years of CGA membership in 1997 and his experience and career have left him secure with the thought that the CGA designation provides many stimulating and gratifying career opportunities for today’s young professionals. “A CGA designation is sought after because it covers so much and can be so very rewarding,” Morrow says.

The 60-year anniversary does not just lead to reflections about the

accomplishments of the past but also to the potential in the future. “In 60 years we have really built a solid foundation that will help us as we move forward,” says Ruth. “If you look back at how CGA has adapted to the changing needs of business, and how strong the organization is today, you can see how it will continue to be a leader in the accounting profes-sion in B.C.”

During the past six decades CGA-BC’s members have achieved so much that there is little doubt the founders in 1951 would be proud. Today, all CGAs should be equally proud to follow in their footsteps as they continue the journey.

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anthony Klassen, Cga

06 outlook outlook 07


taxmattersed Kroft, QC, llB, llM, Cga (hon.)

Most tax assess-ments issued by the Canada Revenue Agency

(“CRA”) for income tax or GST do not result in a court case before the Tax Court of Canada. In fact, very few cases get to court. So when do taxpayers settle their disputes? How do they do so? Is the settlement binding on both the taxpayer and the CRA, or can one side unilater-ally renounce the deal?

WhEN dO SETTlEMENTS OCCur ANd hOW? Most tax disputes are resolved at the audit or internal appeals stages. Deals must be “principled” in that the settlement must be concluded in accordance with relevant tax legislation. The parties cannot reach a deal based on the hazards of litigation and arbitrarily settle on some percentage basis. However, using creativity, the parties can reach a monetary resolution satisfactory to both sides.

For example, assume that the dispute between the CRA and the taxpayer involves two issues relating to two taxation years. To resolve the dispute, the par-ties may agree that the CRA wins issue #1 for year 2 and the taxpayer wins issue #2 for year 1. There may be differ-ent amounts in issue in each of the years. Penalties may be dropped. Interest might be waived in part, using the Taxpayer Relief Provisions

found in subsection 220(3.1) of the Income Tax Act (“ITA”) or its GST equivalent under the Excise Tax Act (“ETA”). Such settlements may be achieved with field auditors or, after a notice of objection has been filed, with CRA ap-peals officers.

WAIvErS Of OBjECTION ANd AppEAlS rIGhTSWhen settlements have been concluded, the CRA wants certainty that taxpayers

will not subsequently file a notice of objection with the CRA or file an appeal to the Tax Court for any reassessments reflecting the presumed settlement that had been reached. Therefore, waivers of such objection and appeal rights are commonly obtained from taxpayers for the resolved issues. Such waivers of rights are expressly contemplated by subsections 165(1.2) and 169(1.2) of the ITA or their GST equivalents under the ETA.

Yet what certainty might taxpayers obtain? The case law related to stopping the CRA from reassessing the same issue in a subsequent taxation generally indicates that the CRA can challenge the same issue in the future, despite a settlement. As a practical matter, this does not always happen, but it can and does. One reason that the CRA may chal-lenge in a subsequent year is if a court case comes out

in favour of the CRA that may affect future assessing practices. Therefore, do not get rid of your records or support for filing positions taken in subsequent years just because the issue was resolved for earlier years.

SETTlEMENTS IN ThE TAx COurT prOCESSSettlements are often reached in the Tax Court process before the matter is scheduled for the trial or hearing. Settlement can oc-cur after appeal documents have been filed, before or after examinations for dis-covery (in which the parties exchange documents and in-formation) or possibly during a pre-hearing or settlement conference before a judge in closed chambers. It is not uncommon for settlement offers to be exchanged by the parties at various stages of the court process, with the contents of the offers affected by numerous fac-tors. I have been in many situations where the parties have settled up to the day that the trial is to begin. Most settlements are concluded with each party bearing its own court costs, without an award of costs being made against one of the parties. Parties may also attempt to secure certainty of treatment for taxation years subsequent to those before the Tax Court up to the date of settlement.

For example, a taxpayer

may have an issue from the 2006-2008 taxation years before the Tax Court, but the CRA has reassessed 2009 and 2010 as well, and those taxa-tion years are in the appeals division of CRA, having been the subject of notices of objection. In such circum-stances, the parties may try to wrap all taxation years into one settlement using subsection 169(3) of the ITA (or its GST equivalent under the ETA) to do so.

WhAT If A TAxpAYEr WANTS TO GET OuT Of A SETTlEMENT?What if a settlement is reached and the taxpayer then suffers from “buyer’s remorse” and wants to with-draw from the settlement? Can the taxpayer then object to or appeal from the terms of the settlement? This issue recently came before the Tax Court in 1390758 Ontario Cor-poration v. The Queen (2010 TCC 572). The taxpayer’s 2004 and 2005 taxation years were reassessed to apply non-capital losses from prior taxation years. The position of the parties was best sum-marized by Mr. Justice Bowie of the Tax Court (footnotes omitted):

“[14] However, Peter Tin-dall now takes the position, on behalf of the Corporation, that he did not fully appreci-ate the future ramifications of the settlement and that he, on behalf of the Corpora-tion, wishes to resile from the settlement and have the Corporation’s appeals heard and decided on their merits. He does not allege any fraud, undue influence or oppres-sion of any kind. He simply says that he no longer wishes to be bound by the Minutes of Settlement that he signed. [15] Counsel for the respon-

dent (applicant in the mo-tion) takes the position that the appellant, having volun-tarily entered into Minutes of Settlement, and the Minister having given effect to the settlement by reassessing, the appellant’s right to pur-sue the appeal is at an end, and as he refuses to file a notice of discontinuance the appeal should be quashed. In support of that position she referred me to the decision of Lamarre-Proulx J. in Oberoi v. R.. She held there, on the authority of the Supreme Court of Canada’s judgment in Smerchanski v. The Queen, that the appellant, who wished to resile from a writ-ten agreement to settle, was bound by the agreement.”

The issue before the Tax Court was whether the CRA and a taxpayer may enter into a binding settlement agreement regarding the taxpayer’s liability for tax under the Act. This issue has come up in at least seven cases since 1972. Some of the decisions are difficult to reconcile. Therefore, Justice Bowie went on to discuss the jurisprudence in some detail, including the Smer-chanski case decided by the Supreme Court of Canada.

After reviewing addi-

tional cases such as Galway, Consoltex, Cohen, Enterac and Garber, Justice Bowie made the following important comments:

“[35] I agree with Bowman C.J. and the authors Hogg, Magee and Li that there are sound policy reasons to up-hold negotiated settlements of tax disputes freely arrived at between taxpayers and the Minister’s representa-tives. The addition of subsec-tion 169(3) to the Act in 1994 is recognition by Parliament

of that. It is not for the Courts to purport to review the pro-priety of such settlements. That task properly belongs to the Auditor General.

[36] The reality is that tax disputes are settled every day in this country. If they were not, and every differ-ence had to be litigated to judgment, unmanageable backlogs would quickly accumulate and the system would break down.

[37] The Crown settles tort and contract claims brought by and against it on a regular basis. There is no reason why it should not settle tax disputes as well. Both sides of a dispute are entitled to know that if they invest the time and effort required to negotiate a settlement, then their agreement will bind both parties.

[38] I have come to the conclusion, contrary to the views of Bowman C.J. and Professor Hogg to which I have referred, that it is possible to reconcile the decision in Smerchanski and Cohen.

[39] The decisions in Gal-way and Cohen are grounded in the perceived illegality of the assessments that the Minister would have to make in order to consummate those settlements. In Smer-chanski there was no sug-gestion that the assessments were anything other than the result that flowed from the application of the law to the facts that were revealed by the audit. It is obvious, surely, that in the course of the litigation process ad-ditional facts may come to light, and some facts that the Minister may have thought to be true turn out not to be. It is even possible that the Minster may, in the course of negotiations, be persuaded

that his initial view of the law was not totally correct.

[40] In the present case, I have no reason to believe that the reassessments that the Minister has already made of both the corpora-tion and Peter Tindall, or the redeterminations that will be made of Susan Tindall’s CTB entitlements, are not justifiable on the facts and the law. Put another way, the results agreed to are results that could be arrived at fol-lowing the trial of all three cases on their merits. That being so, it is Smerchanski, and not Cohen and Galway, that applies.

[41] A question arose dur-ing the hearing of the mo-tion before me as to whether there was consideration for the settlement in this case. The appellant was entitled by subsection 111(1) of the Act to carry forward its prior years’ losses. The elimination of the interest and the failure to file penalty were, as I un-derstand it, eliminated by the application of those losses to the years under appeal.

[42] However, it is clear from the affidavit of Kevin Williamson that the appeals of Peter Tindall, Susan Tindall and the Corporation were settled on an all-or-nothing basis. It was a package deal, as is often the case. Although 1390758 Ontario Corporation got nothing in the reassessments to which it was not already entitled, there was consideration in the resolution of the other two cases which satisfies the requirement: see Loranger v. Haines.

[43] Had the Minister not already reassessed the ap-pellant in accordance with the Minutes of Settlement, I would have allowed the appeals and referred the

what every taxpayer should know before signing a settlement agreement

Implications of the Tax Settlement process

ed Kroft, QC, llB, llM, Cga (hon.), is a partner with Blake, Cassels & graydon llp. he is a member of the firm’s tax group and leader of its tax Controversy & litiga-tion group.

understand

the financial

implications

and the

current and

future impact

of a settlement

before signing

an agreement

that extinguishes

your appeal

rights.

10 outlook

reassessments that are under appeal back to the Minister for reconsideration and reassess-ment in accordance with the Minutes of Settlement. As he has already made those reassessments the proper remedy is an order quashing the appeals.

[44] The motion is al-lowed. The appeals herein of 1390758 Ontario Corporation from reassessments for the 2004 and 2005 taxation years issued on June 15, 2007 are hereby quashed.”

The key for Mr. Justice Bow-ie was the all-inclusive deal made by the taxpayer with related parties and the CRA being justifiable on its facts in accordance with the ITA.

WhAT If ThE CrOWN WANTS TO BrEAk A SETTlEMENT?What if the CRA wants to get out of a settlement it reached with a taxpayer? This issue also recently surfaced in Huppe v. the Queen (2010 TCC 644). Justice Webb of the Tax Court summarized the issue between the parties:

“[1] The Appellant brought a motion to enforce an agree-ment to settle his appeal that the Appellant alleges was made between the Appellant and the Respondent.

[2] The Respondent does not agree that the parties had reached an agreement to settle this appeal and in any event it is the position of

the Respondent that even if an agreement had been reached to settle this appeal that the Respondent is not bound by any such agree-ment.

[3] The Appellant filed an affidavit which sets out the facts as alleged by the Appellant in relation to the settlement agreement that the Appellant states was reached between the Appellant and the Respon-dent. A status hearing was scheduled for the Appeal and at the commencement of the status hearing the Appellant raised the issue of the motion that he had filed. The Respondent was clearly taking the position that even

if a settlement agreement had been reached, it was not bound by any such agree-ment.”

Justice Webb then went on to discuss whether the Court had the authority to hear the case; specifically, whether the Crown was bound by the agreement and whether the taxpayer had a contractual remedy of specific performance that the Tax Court could enforce against the Crown. Justice Webb concluded that the Tax Court was not a court of equity and it had no jurisdiction to enforce this remedy against the Crown. However, he found that the Tax Court had the jurisdic-tion under subsection 171(1) of the ITA to enforce the agreement by allowing the appeal and varying the assessment or referring the assessment back to the CRA for reconsideration and reas-sessment. He also found that the Justice lawyer could not be conducting the case be-cause he would be a witness as to whether an agreement had been reached between the CRA and the taxpayer.

Settlements with the CRA are commonly concluded without the occurrence of the issues raised by these two new cases. However, taxpayers must be certain that they clearly understand both the financial implica-tions and the current and future impact of a settle-ment before signing any settlement agreement that relinquishes or extinguishes any objection or appeal rights. Failure to understand the impact and implications will not excuse taxpayers from the resulting conse-quences, including the pay-ment of taxes, interest and penalties to the CRA.


techviewgabriel vitus

2011 technology forecast:

Mostly 3d sprinkled with...tablets

gabriel vitus, Msc, peng, has worked in the it industry since 1986. he is the Director of it at Cga-Canada, a member of the national board of the Cio association of Canada and a member of many professional organiza-tions such as ieee, saiee and eCsa.

You can follow CGA-BC on facebook, and on Twitter at www.twitter.com/cgabc

Whether it be a

Tv, dvd player,

video or photo

camera, laptop,

tablet or gam-

ing device, the

most important

trend is the

convergence of

all these de-

vices towards

an intelligent

computational

unit that inter-

acts with

humans in a

natural way...

I f I had to write a weather forecast for the technolo-gy market in 2011 based on my experience of the

Consumer Electronics Show 2011 (CES), the title of this article is an apt summary. Besides the “sprinkling” of tablets, the focus yet again is on entertainment technology, with TVs and all complementary services in the leading role.

“Mostly 3D” was the

anticipated theme of CES 2011 – and it delivered as expected. Everybody and everything has 3D, from huge TVs and projection units to the pre-announced handheld gaming devices

from Nintendo. 3D tech-nologies are grouped in two categories: 3D Ready and Full 3D.

3D Ready encompasses all the technologies that rely on viewing glasses, and it currently covers the majority of the market. The upcoming and more natural technology is Full 3D, which does not require viewing glasses. Toshiba and Sony are leading the way in Full

3D, although with current limitations, viewing angle restrictions and cost, market viability is not expected ear-lier than 2015. While there’s been tremendous effort from manufacturers, 2010

has actually seen lower than expected sales of 3D units. Why? The uniform consen-sus is lack of content. This is a typical example of tech-nology moving faster than the content it delivers, and sales therefore lag forecasts. There are few 3D channels available for broadcast, and those that are available lack variety.

But CES 2011 wasn’t all about 3D. A trend that started a few years ago will make future TV sets almost indistinguishable from the personal computer and vice versa. The pervasiveness of Internet-enabled TVs and video devices, the increase in the availability of services (“apps” for TVs, DVDs and TV boxes) and the new generation of mouse-like remote controls are rapidly changing our perception of the traditional TV. With mod-ern TVs, you can navigate the Internet, stream media on demand, superimpose the viewing area of various applications, play online games and connect with others – all with just the click of a mouse…I mean the click of a remote. The new remote control devices don’t just change channels and adjust volume, but also offer complex on-screen navigation functions – a daunting task for those still afraid to use their remotes! But do not fear, as help is on its way through “natural hu-man interface” technology.

If you are not already fa-miliar with the tremendous-ly successful Kinect interface used by Microsoft’s Xbox 360, test drive it at your nearest electronics shop. Natural human interface technology lets you control devices by using body ele-ments (such as movement

or speech) rather than inter-mediary devices such as a mouse, joystick or keyboard. Kinect is a revolutionary concept for the gaming industry that I predict will eventually be widely used for interacting with most consumer electronic devic-es. At CES 2011, at least one TV manufacturer presented a concept TV controlled by human motion rather than remote control.

As for the forecast of a “sprinkling of tablets” in 2011, we’ve all seen the rise of the tablet in 2010. Tablets are small portable comput-ers without a lid or keyboard that are the intermediary between a laptop and

smartphone. Interestingly, some smartphones are al-most as big as small-format tablets and just about as powerful, if not more. The debate is still on: where does the tablet fit in the evolution and which, if any, device will be displaced by the tablet? Ultimately, con-sumers will decide. In 2010, besides Apple and its iPad, five manufacturers launched tablets, and we can expect more than 80 models from 20 manufacturers in 2011.

Tablet technology is still trying to find its identity. From the hardware perspec-tive, the challenge is to cram in as much hardware as possible without making it

a laptop and while retain-ing a small size and weight. From the software perspec-tive, the challenge is similar: create a powerful enough operating system that is not so powerful it requires ad-ditional hardware. The next few years will see the settle-ment of the tablet market in terms of both identity and expected functionality.

These devices can only reveal their full benefits when they’re connected to the Internet. In the next few years, Internet technologies and the inroads made by 4G wireless will exponen-tially push the widespread adoption of mobile devices, be they TVs, laptops, cars,

tablets, smartphones or fridges.

As mentioned by the Con-sumer Electronics Associa-tion president, 2011 should be a year of growth for the industry, with expected revenue increases of 3 per cent. Whether it be a TV, DVD player, video or photo cam-era, laptop, tablet or gaming device, the most important trend is the convergence of all these devices towards an intelligent computa-tional unit that interacts with humans in a natural way and uses a full spectrum of communication possibilities to exchange information and provide value-added functionality.

outlook 15

The culture of your organization mat-ters. Culture is one of your organiza-

tion’s biggest performance levers, and not using it correctly can have disastrous results. Ever try to adjust your company’s benefits plan? Remember the pain of the merger? And what about introducing new technol-ogy? Computer system transitions can be downright

catastrophic. Organizations that under-

stand the positive power of culture are able to unlock solutions at an accelerated pace through:

1. Alignment – all employees share the vision and mis-sion, and they agree on the organization’s purpose and ground rules;

2. Filtering – employees understand ‘the way we do things around here’ and they have a virtual filter for all actions and decisions; and

3. Branding – employees are bound together by shared values and they know what the organization stands for, far beyond the product.

Organizations with strong cultures are better able to adapt to change, particularly when their executives, direc-tors and other leaders use their coaching skills to find solutions to the following common challenges:•How do you introduce

change without creating

insecurity?•How do you build a sup-

portive team vs. strong individuals?

•How do you get your staff to look at their jobs and think about improvements?

•How do you get the team to come to conclusions that are aligned with cor-porate objectives?

The answer is to move your culture towards a high-per-

forming coaching culture. Coaching is not about telling people what to do, but rather supporting people to help them find their own solutions.

In a recent North Ameri-can survey, 30 per cent of managers said their biggest challenge was not having all the answers. However, many employees don’t want advice: 20 per cent of employees surveyed said they wanted to be stretched beyond what they thought they could do, and another 18 per cent appreciated being asked questions to help them think through challenges on their own.

Moving towards a coach-ing culture is a great way to align the interests of managers and employees. To get there, keep in mind that successful coaching cultures share the following characteristics: 1. It starts at the top. A

senior executive cham-pions coaching, sees the value in it and promotes it.

2. It requires training. Just

like every carpenter has a hammer, all managers are trained in basic coaching skills and coaching is the most-used tool for com-municating.

3. It involves everyone. All levels of the organization engage in coaching one another, irrespective of rank. Coaching occurs across the org chart: up, down and sideways.

4. It’s personal. Coaching develops intimacy between manager and employee. The atmosphere of mutual respect and openness maximizes em-ployee engagement and retention.

5. It’s purposeful. Vision and mission are connected to individual and team pri-orities. There is a constant habit of goal setting and defining outcomes for everything.

6. It even pays. Coaching activities are measured and performance evaluations include the leader’s skills as a coach.

7. It involves extreme col-laboration. With a large number of cross-company teams organized by passion and expertise, the emphasis is on team performance rather than individual performance.

Is a coaching culture for you?

To answer that question you must first ask this: would your company benefit if your people were able to com-municate with more candor, less denial, richer commu-nication and the conscious development of talented and disciplined leaders who are connected to your people?

I have yet to find an orga-nization that wouldn’t.

periscopelesley-ann Marriott, CeC, pCC

seven ways to a build a high-performing coaching culture

Coaching Everyone

lesley-ann Marriott, CeC, pCC, is a Certified executive Coach with over 20 years of leader-ship and management experience. she has facilitated hundreds of corporate partnerships at the most senior levels of the world’s largest food companies, such as Coca-Cola, procter & gamble and Nestle. she is a trained facilitator in the heart of Coaching workshop, a proven pro-cess for creating coach-ing cultures. lesley-ann is also the principal of Marriott Management group – a consortium of expert coaches and leaders.

Organizations with strong cultures are better able to adapt to change, particularly when their executives, directors and other leaders use their coaching skills to find solutions to common challenges.

The business world moves quickly and technological change is a fact of life. CGA-BC’s

2011 IT Forum will feature technology workshops that can provide you with practical

IT information, technological expertise and the social media tools you require to take

your career or business to the next level.

For more information or to register, visit: www.cga-bc.org/pd

2011 IT Forum.The future is yesterday. Are you on board?

16 outlook

ethics in focusBy Michael McDonald, phD, Cga (hon.)

THE DILEMMA: Colin Simpson is a CGA with seven years of industry experience. He recently became chief accountant at Headstrong Imports, a medium-sized partnership. Headstrong Imports deals mainly in toys, party supplies and novelty items. To ori-ent himself to his new position, Co-lin has gone over the books. While the last audit indicated that Head-strong was in good financial condi-tion, Colin notices weaknesses in internal controls resulting in what appear to be significant overpay-ments to some overseas suppliers. These overpayments would cause the partnership problems with its debt service coverage ratio with the bank. When Colin points this out to the two partners, Max and Ludmilla Headstrong, they tell him that his concerns are exaggerated and assert that this is just a minor cash flow problem. In any case, they can’t afford at the moment to invest in the internal control system that Colin has been recommending.

They then add that there is no real reason to worry since they have a potential new investor, Betty Blue, who would be able to inject a

significant amount of new capital into the partnership. From what Max says, Colin gathers that Betty is a fairly naïve investor who recently came into a good deal of money though a lottery win.

Max and Ludmilla indicate that Betty wants to meet Colin next week to discuss becoming a part-ner in Headstrong. Colin states that as a CGA he will have to be honest about his recent findings. Max and Ludmilla tell Colin that he should restrict his discussion with Betty to going over the previous audit and reviewing the otherwise strong financial position and potential of Headstrong Imports. Ludmilla says that once Betty invests in Headstrong, they’ll be able to put in place the internal control system that Colin has recommended. They want Colin to refer any questions about cash flow and internal controls to them. They remind Colin that he is working for them and not for Betty, and that it is up to Betty to do her due diligence.

What should Colin do? Would your answer be different if Betty were a more sophisticated investor?

WHAT SHouLD CoLIn Do? This dilemma elicited a very insightful response from Mr. Stephen Hollander, CGA, CPA (Ireland) CFA. Hollander is the Coordinator of Economic Crime Studies at the BC Institute of Technology. He identifies disclosure as a central issue in this scenario and says “If the accountant associates himself with a purported dis-closure that omits a significant fact, then he is leaving himself open to trouble.”

Hollander points out that:•legally, this could well amount to

fraudulent misrepresentation;•ethically, it contravenes his obligations

under the Code of Ethical Principles and Rules of Conduct; and

•morally, it appears to be indefensible. Presumptively one should be honest if one can do so without sacrificing any-thing of comparable moral worth, and I can think of no utilitarian consideration in the given case that would justify concealing the overpayments and their effect.

Hollander believes there is more to this case than the duty to disclose. He thinks that the owners’ attempt to conceal information should raise “a red flag in the mind of the accountant” since:1. the controls required to prevent such

outlook 17

in the world of financial investments, there are special safeguards put in place to protect naïve investors – for example, agents selling investment products have a responsibility to find out about potential clients’ investment knowledge.

nExT ISSuE’S DILEMMA: Sam Silverman, CGA, conducted an audit of ABC Mining Explora-tions, a new mining venture. He then joined the board of ABC and received an option on 100,000 preferred shares as a director’s fee. Silverman then allowed his audit to be used as a comfort letter with securities regulators. However, he never disclosed to regulators the stock option he had received as a director.

After a brief run-up on the over-the-counter market, ABC declared bankruptcy, and an-gry investors confronted Silver-man about a lack of indepen-dence and his failure to disclose a potential conflict of interest. However, he says that he didn’t use the option and therefore was not in a conflict of interest. Has Silverman acted ethically?

Please email us your responses to these questions. We accept anonymous submissions pro-vided we can verify that you are a CGA or student. Send your feed-back to [email protected].

overpayments are, in theory at least, simple and low-cost;

2. the anxious desire of the partners to conceal these overpayments from a potential investor indicates guilty knowledge; and

3. the way that this desire is expressed (“The reminder to Colin that he is working for them and not for Betty, and that it is up to Betty to do her due dili-gence”) indicates a degree of disdain for the legitimate interest of others who have entered into, or may enter into, a relationship (employee or inves-tor) that calls for trust and confidence.

These considerations lead Hollander to suspect possible money laundering, over-seas bribery or an attempt by the partners to drain the company of assets.

Michael McDonald is Maurice Young Chair of applied ethics at the w. Maurice Young Centre for applied ethics at the university of Brit-ish Columbia. in 2006, McDonald received an honorary Cga for his extensive work in accounting ethics education. McDonald welcomes suggestions for new cases and solu-tions for this column.

ProFESSor MCDonALD’S rESPonSE: I wholeheartedly agree with Hollander’s insightful comments, and I would like to raise another consideration. I believe that the fact that Betty is described as “a naïve investor” is of both moral and legal importance. In the world of financial investments, there are special safeguards put in place to protect naïve investors – for ex-ample, agents selling investment products have a responsibility to find out about potential clients’ investment knowledge. Sophisti-cated investors are in a much bet-ter position than naïve investors to look after their own best interests. Indeed, if I were in Colin’s shoes, I would suggest that Betty engage a knowledgeable CGA to help her make a prudent decision about her newfound wealth.

Of course, a knowledgeable investor would likely raise such issues herself as part of normal due diligence. Nevertheless, even if Betty is a sophisticated investor, Colin is still obliged to disclose the potentially serious control prob-lems at Headstrong Imports.

$2,000 or more Galloway Botteselle & CompanyCGA Computer Users GroupCGA-BC Southern Vancouver Island ChapterAu-Yeung, Yik Fung

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ank

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We salute the people who donated to the CGA-BC Educational Foundation in 2010.

Govender, Rona VGrace, William JamesGraham, Christopher JohnGraham, James RGraham, John AllanGraham, Judy EllenGrala, Henryk JGrammatikos, PeterGrant, Barbara LGrant, Tammy DGration, Frank CGreaves, Charlene EGreef, GordonGreenberg, RamiGreenough, HelenaGreer, DerekGreer, Lawson HGreig, NoreenGrewal, Harinder SGrimston, Laury AGroen, BrentGroenwold, Remmelt ScottGrossman, Doreen RGrundy, Andrew PGuest, Jacqueline SGuevara-Ibarra, Martha EGuevremont, Marie- ClaudeGuichon, Peter GGulamhusein, AlnoorGunn, Susan HGuo, HongGuo, Jing JennyGuo, WenGurash, SandraHa, Mong XuanHaasdyk, Sharon LynneHackett, Daniel CHagar, JohnHaines, Susan FHall, Anthony ScottHall, Karen DHamaguchi, Kristin JHammer, Sissel VHammond, William BHannah, William JHanoski, Roland CHansen, Pam MHanson, Christopher DHaqq, Ian DerekHara, Sukhbir KaurHarnett, DaleHart, DwayneHart, Maida GHartwell, Tracy CHarvey, A JamesHarvey, D ChristopherHarvey, Darryl WHayre, Daljit SHaywood-Monk, Harry RHazell, Daniel JHaziza, Clem AHe, Ying FionaHeal, Kimberly DawnHeese, Robert WilliamHeichert, KennethHelle, Susanne O NHelm, Janet EHemeryck, Debra AHendriks, Joyce RHerculson, James DHill, John CHill, Larry DHinchey, W GrantHirji, Shah AHo, Alice W FHo, Clara Chui YiHo, David CHo, Jacqueline Oi PingHo, JeffHo, LevenHo, Yiu ChungHobson, Michael FHoddinott, Michael JamesHoekstra, JohnHoge, Andrew JayHoggarth, George AndrewHolbrook, Doug JHollett, Kimberley MarieHolmberg, Terence WHolmes, Burton JHolmgren, Jim RHolt, Norman DHomeniuk, Richard RHon, Danny Chi TakHorcher, KarenHoroscoe, Cheryl LHorsting, Jo-Ann LHoughton, William JHouser, Chad RichardHouston, Roberta AHoward, Brent I

Howardson, Sharon FHowell, Bruce WHu, QiHuamali, Lorraine EffieHuang, Cara Dong QingHuang, Perry Jui-HungHuang, TehoHuang, Yong ZhiHuber, Peter AHughes, Graham RHui, JustinHumberstone, WayneHumchitt, Saphire CHunt, David AlanHunt, ShawnaHunt, Sheryl MHunter, BirgitteHurst, Bruce AHurst, Kathleen VHussain, Azra BijliHussainaly, TajuddinIkari, Colin KimioIlles, John Steven McNameeIlsever, Yalcin JoeIngram, Victor C WInic, OliviaInkster, Gerald AInkster, John WIsaac, TracyIverson, Linda JIvica, BranislavJack, Robert WJafri, Syed HJang, David W FJang, MichaelJang, MingJang, PatriciaJansen, HenryJansen, Ronald RJanyk, William AJanzen, Jeff AJartved, Kirsten GJeannotte, Ingrid HJeraj, AlnoorJergens, Susan JanetJeske, Kirk OwenJhaj, GurjinderJiang, Margery Min-YanJiang, Peter Qin JieJivraj, Amir AJo, Chris ChangkunJohnson, AmyJohnson, Eileen DJohnson, Fern RJohnson, Fern RJohnston, Jo-Ann LJohnston, Kenneth AJohnston, Ronald CJohnstone, Colin M TJohnstone, Paul JamesJolivet, Jean AJondahl, John HJones, Donald HJones, Monica LJones, Renee AntoniaJonjua, Jaswinder KJorgensen, Melvyn LJoseph, ElizabethJue, Nancy OJung, Wan HJung, Woon KyungKallrath, Maria LeanneKalra, Anuj KumarKalra, Bhupinder SinghKalra, Radha KKamikura, Roger MKan, Paul YKang, Greg Hong-YunKang, SunKanga, Nozer EKantonen, Calvin LKao, Mike Y CKara, AzizKarunanayake, Rovin IndraKarunaratne, Channa DKaskiw, Wade PKassim-Lakha, AlyKatsumata, Mark AtsushiKaye, RoulaKeddie, Laurie AKeenan, Steven DKeller, Harold JKeller, Patrick EdwardKellman, Chris DKelly, Jill HKennedy, Xiuyan AnnieKent, David JKeung, Sam Chi SangKew, MarionKhaira, Kirn SinghKhangura, JasvirKhatkar, RamKhun Khun, MichaelKhurana, Ajit SKidson, Gary K

Kiedyk, Darren EKientz, Kristina SarahKier, Donald LKilgour, Gary MKilgour, Isabella AKim, Apollonio S CKim, Harry Jae HyonKing, Robert VKinghorn, Marie AKipp, Brian DKirincic, JohnKisser, NicoleKlassen, Kathleen LKlassen, Teresa IKlein, David LKlein, Peter CKleinhempel, KerstinKnezevich, NadaKnipe, Helene Marie- RoseKnobloch, AkikoKobetitch, Walter JKoebel, Lorne EKok, Christina NKok, Roger BKomnatska, Margaryta PKomnenic, MladenKonkin, Michael PKoo, Wai KitKorpesio, Ken SamKorstrom, Gary LeeKoshy, Kumari MathewKowalski, Marlene GKrasnov, VictoriaKrawchuk, Wayne JKrdzalic, MirsadaKropla, David EdwardKruk, Gail CKumar, VinodKuras, Halina TKutty, Variath MadhavanKvamme-MacDonald, Shelley DKwan, DavidKwan, Pid K LKwan, Yuk Yee ElizabethKwok, Belinda KKwok, Stephanie Shing-ChiKwok, William KKwong, Shelley SKyle, W KLagace, LisaLago, Jennifer RLai, Debbie SLai, JoannieLai, Lucilla KLai, Patrick Kwok LeungLai, Simon Shiu LeungLaine, Dennis HLam, Annie Wai FunLam, Jeffrey TLam, Mei MLam, Patty Chun-ChunLam, Peter FLam, Solomon DLang, AustinLang, Stanley H LLanz, SylviaLarsen, A OleLarson, Todd MLatham, Sharon LouiseLau, Alex Kwok-LeungLau, Dayton W SLau, Elisa Yee ManLau, JacquelineLau, Kin Ip DennyLau, Suk FunLau, Ulin Yuk LinLavin, PatrickLaw, Chester SLazzari, Nicole ALe, Vinh BaLeach, Paul DLee, C PattyLee, Darren WLee, Eun KLee, Gershom Chi IpLee, James L SLee, Jessie Hyun HuiLee, Lawrence S LLee, MichelleLee, RichardLee, Roanna M KLee, Robert CLee, Seung-Yeol DavidLee, Sharon YLee, Susan FongLeedham, Paul JosephLeger, Ronald JLeonard, SherylLeong, Allen WLeong, HelenLeong, RichardLeong, Tracy AnnLepore, Toni LLeporis, Slavica

LeSage, Robert JLessard, Virginia MayLeung, Carol Chui ShanLeung, Flora Hoi YeeLeung, Mary Siu-YukLeung, Richard S FLeung, Thomas KLeung, Winnie Suk YinLewis, BogumilaLewis, MichaelLewis, Norma JLeyden, Marcella AnitaLi, AcelynnLi, Alyssa YingLi, Daniel Fok ChuenLi, Evelyn Pei-HuaLi, Lena YingLi, LindaLi, Maggie MeiLi, QiLi, Stephen K HLi, YangLiang, YiLichimo, Rita MLiebich, Lise CLim, Judy YLim, MayLim, Stephen Chiap-NgeeLim, Vivien WLin, Benjamin Bin YuLin, David HLin, Jack Yuh-RenLin, YongmeiLines, Michelle LynnLintunen, Laura LLister, James RLiu, HongLiu, JiyueLiu, Joanne Hui QunLiu, Joseph Chou- HsiungLiu, Kathy ZhikuiLiu, Rosa RongLiu, Terry Cheuk TingLiu, WeiliLiu, YanLivingstone, Hugh GLo, Fiona Yuen FunLo, Martin Chee LunLoeppky, Karen ALoewen, Martin RLok, Laurence M SLok, NevilleLong, Richard BLopez, CyrilLord, Catherine MLougheed, William JLouie, Richard YLow, IreneLow, Lawrence KLow, PhilipLow, Susan Sui-FaLowe, HowardLowe, Patricia AnnLu, Rodney PLubzinski, Douglas AllanLum, Steve MLunshof, Carol-AnneLussier, GenevieveMa, David CMa, My-PhuongMa, Suk Ching SweedyMa, Wilfred Y HMaass, Lise AMacdonald, Deborah LMacDougall, Kenneth AMacey, Norah JMacInnes, Donald NMackay, Douglas IanMacKenzie, Murray GMackie, James TMacLean, Troy DMacLellan, Mary LMacNab, Nancy DMacPhee, MikeMacWhirter, Robert MMadhani, Bashir AMadryga, MichaelMah, BarryMah, Philip W LMailhot, Lizanne MarieMain, Stuart GMainman, RickMalecic, Lillian CMalysh, Jerome PMananquil, Concepcion HMandel, Evie DMarchesi, Susan MargaretMark, Irene TMarsden, MarthaMarsh, David KMarshall, David S SMarshall, Karly MMartens, Aron TimothyMartignago, Dennis Eugenio

Martin, Avril LMartin, J GeorgeMarzban, Pamela MMarzocco, Garry JMason, Donald WMathisen, Carol AnnMatsushita, Jack KMaude, Ken FMauger, Shirley MMawji, Ashraf AMcConnell, Trevor MalcolmMcCourt, Philip JMcCullough, Denise CMcCully, Beryl LMcCurrie, Brenda JMcDonald, Alexander JMcDonald, Don LMcEwen, Alfred FMcGregor, Ian CMcGuire, Cecelia MMcInnes, Ian HMcInnis, BethMcKay, Michael FrankMcKeever, Neil EdwardMcLean, Carol JMcLean, Catherine WMcLean, Randy R PMcMurchy, Anthony TMcMurtrie, Dallas JMcMurtrie, Gary WMcNamara, Lesley EMcNeill, Daniel JMcPherson, Robert GMcSpadden, Ian RMeade, Kelly CMellor, RuthMerer, John W AMerriman, Darlene AMerston, Nancy HMesa, John JMettler, Bridgette MardiMeyer, Doris AMihailoff, Arthur WMilad, Sam EliasMilan, FerdinandMiller, John KennethMiller, Kenneth RMiller, Kenneth W GMills, Dorothy JMilne, Robert AMilner, Bruce AMilner, Lea EMinaker, Elena VMinni, Jerry AMinnie, Lisa MarieMisener, Andrew LorneMitchell, Patricia AMitchell, Rick BMochizuki, Naomi PMolyneaux, Lyle GMonahan-Brar, Michelle LouiseMoniz, Kellie DeniseMonk, Jacqueline ElaineMonro, Frances AnneMontgomery, Ronald BMooney, W ArthurMoore, Duncan JeffreyMoore-Stevens, Peter JMorgan, Kimberley DawnMorrison, James AMorrison, Joan MMorrow, Betty LouMoskalyk, Sandra LMottes, David AnthonyMui, KentMuir, Marian RMuir, Marian RMuller, SaskiaMullin, R MikeMurray, KarenMurray, MaryannNaicker, Noallan NNakamoto, Kazuto MNakhleh, Anis TNancke, Candace PNath, Vnit VNathwani, BilkishNeil, Karen LNelson, CareyNelson, Richard KNesbitt, David RNeville, Monica MNewman, Leslie BNex, Cheryl ANg, Anita Ming WaiNg, David SNg, JohnsonNg, Lisa MNg, Sam WNg, Stanley Shiu ChungNg, Stella YNg, Terence Hin- CheungNg, Thomas Yiu Kam

Nguyen, TienNice, Michael JamesNicholls, William EdwardNichols, Kelly MNicolato, Beatrix CNielsen, David ANikiforuk, Ted ENing, Catherine JessieNisbet, Selena GNixon, Debra AnneNixon, Laura HNorgren, HenrykaNorona, Michael ANorthcott, Frank JNowicki, Karen MichelleNunes, CharleneNymann, Doris GO’Brien, John JOcampo, JewelO’Connell, Linda JO’Connell, Rory POlaires, Michael JohnOlljum, Irene GOlsen, Wally AOlson, Adrienne CarolOlson, Melvin AO’Neill, Catherine EOsiowy, Teree KathleenOstry, Mark DOuchi, Brad WilliamOulton, Elizabeth MPaliappa, SubramanianPandey, NeenaPandher, NapinderPang, Jacob K WPang, PeterPang, Suki Choi HaPanter, Daphne CPark, Yoo-HyunParmar, Kamaljit KParsons, David SPaterson, Caroline MPattern, D JosephPatterson, Delena MPatton, Florence JPawluk, Kendel APearce, Kenneth FPearcy, James HardingPedersen, Teresa MPekeles, Patricia APel, David HPelletier, Norma GPeng, Frank Sze-WeiPenner, Rodger KPenneway, Richard PPerry, Lyn OPersson, Virginia APeters, Angelique BPetersen, WenyanPetrovic, Vesna CPfeffer, Walter GPham, Bach Yen TPickton, Linda LPochurko, MartinPodovinikoff, Peter PPollard, Leona DPollard, Michael J APoltak, Lester JPoole, Robert JPoon, Herman HPop, LucianPosoukh, Alexander MichaelPowell, G WynnePowell, Linda MPower, Chesley GPreston, Barbara EPrice, Rowland WPrior, Peter JProceviat, Sandra JProdanuk, Todd KennethProfili, Gene DPryor, Jessie MPugh, Jeffrey APump, Melanie SPunzalan, Cireneo BPurfield, ChristinePurohit, PriyavadanPybus, Harold JPyne, John EPynn, Barry DQahoush, Basem NicolaQi, FangQi, ZhilinQiang, HuaQuarry, Denise JQuerns, Douglas JQuo Vadis, Anthony RobertQuon, HowardQuon, MarleneRaderecht, David ARaffai, ArankaRamaswami, RameshRamilo, Rolando BravoRand, Derek MRasera, Franco J

Rashid, Alnashir ARashid, Sharmin SRaveinthiranathan, Karthigesu ShinniahRawluk, Leonard WReadings, Dennis AReeve, Shirley LReineking, Mark DReiser, Linda ARemedios, Louis ARempel, Karmen JonelleRemtulla, Almunir ARennie, W StewartRepka, Renee CorryReppenhagen, Eileen LReznikov, IrinaRhodes, Alan ERichards, Denise MRichards, Robert GRicher, Elizabeth MRichter, Frank ARitchie, Matt StuartRivers, Paul DRobertson, Jamie WRobertson, Shelley JRobinson, Carol LRobinson, Gayle FRobinson, Lynne PRobinson, Randolph FRoebuck, Reginald HRogers, Peter KRonald McLeanRoque, Antonio James MaRoss, Karen LRossington, Wayne GRotar, Kelly ARouhana, GeorgeRuan, Benny YanHuaRuso, AdrianaRussell, Joan ERussell, Robert WRyan, R Bruce CSabo, Gregory KennethSaha, Ganesh ChandraSajan, SukhpritSalembier, Lawrence JSalvosa, Flor ESam, Calvin MSandhu, SarbSangalang, Paul RaymundSangha, GarySangha, JaswinderSantos, Joe FSantos, Robert FSargent, Chris KSargent, Lisa MarieSaunders, Carol SSava, GabrielaScheffers, Cynthia MayScheianu, MonicaSchenker, Kathleen ReneeSchindler, Tania JenniferSchleppe, Michael MSchmidt, Charmaine ASchmidt, UlrichSchmitz, Norman CSchroeder, Norman DSchuetze, Catharine ESchulz, WScott, James GScott, Kathy DSeigneuret, Lynda LSeito, Gary Wai SumSellars, J WadeSelwa, Lily TeresaSemturis, Hank ASenae, Ann HSeney, John DSerraglio, Cathryn LSeto, Harry KSeyen, Ruediger JShannon, Patrick TShariff, Nasir KSharma, Satish KSharp, Allison LeonoreShears, Howard ISheldon, Dale WShen, PingShenton, Greg JShepherd, John DavidShepherd, RoxanneShi, Nancy DonghuiShin, Sae YShing, Jeff CShirley, Allan VShirley, Susan MShone, Sally AShort, Joan MSi, Alex DongfengSiau, Melvin M VSidhu, Ranjit SSidhu, Ravdeep SSimms, Robert GSimpson, Robert LanceSimpson, William FSims, Linda M

Simunic, Dan ASingh, AlvinSingh, DarshanSinn, GarySirati, NazaninSiu, Samuel Chun-KitSkippen, Lisa Sim OySkourtis, JohnSlanina, Ellen LSlater, Alan ThomasSleigh, Stephen KSmart, Charlene HSmit, Frances HSmith, Barbara JSmith, Heather JSmith, Jennifer M OSmith, Robin CSmith, Roger VSo, Irene M CSo, Philip Tai YSohal, Parmjit SSoldera, Talitha ASombert, Glenn ESomji, ShehzadSonachansingh, Manchan MSoni, Rajinder KSoos, AttilaSpaidal, Diane TeresaSpringall, Len RSt Pierre, Iris SStafford, Virginia EStalzer, John PStanley, Susan FSteenson, G MurraySteinke, VernStephens, Gail LStephens, James EStephens, Susan ESternitzke, Irene BStewart, Christian DouglasStewart, Deborah JeanStewart, Russell FStiles, Almeva JStone, Eva AnnStraker, EliStuart, Beverly AStuart, Elizabeth GStuart, William MStyan, Sharon LSum, Snoopy Kee HaSumal, KarmdeepSun, Jacqueline LinSun, Katherine Peng-YingSun, Sunny K FSunwoo, HunSutherland, John JSutherland, Marie DSvorinic, Dragica GinaSwedburg, Gordon BSztefek, JirinaTa, RosalindTaganahan, NoelTait, A NeilTait, Jeff ThomsonTam, Benjamin C KTam, Daniel Siu MingTam, Ted TTan, Venia Marina VTang, ChunyeTang, GeorgeTang, KaiTang, Winny P CTang, Yvonne Lai-KwanTay, Cheng-YanTaylor, G PaulTecklenborg, Beverley DTeghararian, Jane DTeichrob, David RudyTeichroeb, Bruce ITeixeira, Antonio FranciscoTekbas, I GokcenTeng, AlbertTeoh, Flora Su-YinTeramoto, AkiraTeranishi, Eddy HThackray, Angus RossTham, Wayne W HTheroux, Lenneah MTherriault, Pierre J AThomas, James HThompson, Desmond JThomson, Alan MThorsen, J AlanTie, Xiao MeiTingvoll, Robert JTinkess, Peter ATjokro, LinawatiTolen, EricTom, LaviniaTomlinson, Peter BTong, RichardTong, Thomas Nai KongTong, Walter Nai MingToots, Diana RitaToplak, Ibolya V

Tory, Tina MarleneTosino, Cornelio TToth, Pamela JaneTourkova, SvetlanaTraas, Donna LTran, George Phat CanhTremblay, Nathan ETrotter, Gary ATrumpy, Chris MTsang, Elaine M LTsang, Florence Shui FunTse, Alice S LTse, Rosalia Miu HanTso, Daphne Wai-LingTso, Henry JTsoi, Timothy ShunTsui, Arthur Chun ChungTsui, Louisa Mei FanTung, AlanTup Chong, Fay MTurner, Edward JTurner, William AUnger, Gordon LUpright, Nafissa SUyboco, Christine LValcourt, Noel JamieVan Balkom, Anne WVan Gool, John JVan Iersel, Arn RVan Randen, SakeVandermey, Richard AVanloo, KeevinVarga, Trevor JVasquez, CarlosVerhelst, Etienne DVerigan, John DVickars, KarinVince, Douglas JVirani, Shokat IVirdi, Cynthia KVoiculescu, IoanaVoisin, Alain PVrabel, Margaret AWaese, Victor LWagner, Frederick WWahl, Richard KWai, Clara S YWakulchik, Edward GWales, Angela DawnWall, K JoanneWall, Philip HerbertWallis, Bonnie CarolWalsh, William JWalters, Shaila SWang, ChuanxiaWang, Jenny Cheng RongWang, JinghuaWang, Judy HuichiaWang, LipingWang, Rita YingWang, ShunliWang, Yingxia JessieWang, Zhenjuan JoanneWard, Richard CWark, Gordon BarryWarren, Sean MWates, Paul RWatkins, BrendanWatson, Gordon AWatson, Hugh JWatts, Angeline SWebber, Michael RWedley, Evelyn EWei, LiWeisner, Shelley AWerner, Susan CWestover, Verne EWheadon, Paula MWheatley, Monica JWhite, M MargaretWhitehead, Graham AWhitehead, VickieWiedemann, Paul JosephWiersma, Barb AnnWiesendahl, Ronald FWike, Sandra LWilband, Robert CWilliams, Ember RWilliams, Laura CatherineWilliams, Pamela RWillis, Ronald MWilson, Isabella RWilson, Jane AWilson, Karen AWilson, Leah KWilson, Michele JWilson, Richard JWilson-McCreath, Kimberly AnnWilson-Tagoe, GeorgeWing, Robert GWinter, Maja GertrudWitteveen, John JWoldemariam, MenenWollman, Sandra

Wong, AmyWong, Bonnie Y LWong, Chi Keung FrancisWong, Danny Ping HoWong, DavidWong, Dennis KWong, Diana Chai OnWong, Edward Yue SillWong, Francis Boon ChongWong, HenryWong, Irene Ngan YukWong, Jackie Yoke HeiWong, Jeremy Sau-LingWong, Kermit HWong, LenaWong, Monica Man-WahWong, Nancy Ah LaiWong, TimWong, Tosa Sui BingWoo, VickiWoo, Willis KWood, Richard GWoodson, Ian GWoodward, Debbie LWortley, Melanie GWosk, Shirley LevyWraight, Ian MWray, Kemis RWright, Ken RWright, Shawn BradleyWu, Hainong HWu, HuaWu, Louis Kin-MinWu, Mary Sin YiWu, Philip CWu, RuoyunWu, Sandra MinWu, Xin AnnieWyntjes, Barbara MXiao, Susan Yi MinXie, YingXu, FengLingXu, ShuyingXue, Freda FangXue, Jianhai HarryYaco, Perfecta GYakuhin, MariaYan, Winnie Yong-NingYang, Ingrid YingYang, Jung-Mi KarenYang, Li LinYang, Shao JunYasin, MohammedYee, Cecilia YYee, Freeman JYee, PhilipYeh, ShirleyYelland, Peggy JYerxa, Brad JYeung, Kim Yin-KumYim, Alex Chi MingYip, Anna Kai-ManYip, Kevin KYip, Kwai-ChungYip, Margaret Wai ManYip, Wendy W BYiu, Paul Ka FaiYong, S LianYoung, Edwin Kwong-HayYoung, Kathy FYoung, Richard GrantYu, Andy LYu, Danny Kwok HayYu, Jeanie MYu, Jennifer ShuciYuan, JinmeiYuen, Denny Kwong ChongYuen, LaurieYung, Ying-SangZacharias, Jacqueline JZaleschuk, Elizabeth AZarowny, Angela MZelleke, Getu NZhang, Anita LiningZhang, BettyZhang, Bob BaoqunZhang, Cong JunZhang, Helen HuanZhang, James Jian HongZhang, Sharyl Ya-FeiZhang, ShujingZhang, WeiZheng, HongZhou, BeiyingZhu, Allen XZhu, Heidi XZhu, LijingZhu, MeiZhu, Pei JunZhu, Rong MeiZoretich, Donna B CZubko, KarenZwicker, Michael Stephen

20 outlook

Cover

Social media is changing how we must communicate, market and lead

Social media has permeated everything from CNN newscasts to intimate discussions at your local retirement home, where grandparents now share their grandchildren’s latest Facebook

profile pictures. It’s operating in the background while you’re sitting in your local coffee shop or searching online for stock advice. People are researching businesses, rating their last latte and even debating the Egyptian Revolution on a local news blog. That couple sitting next to you in a Blenz Coffee in Victoria? They’re from Detroit, and they are there because one of their Facebook friends raved about the espresso on yelp.com.

Here are the hard facts and numbers:•600millionpeopleareonFacebook•90millionprofessionals–representingeveryFortune500company–areonLinkedIn•Twitterproduces100millionupdatesperday•YouTubeservesover1billionvideoviewseachday

As a CGA or business, why does this matter to you? Ten years ago when you were looking for a new job or working on some new business, the potential client or employer would call your references. Today, they hit Google and look at your social graph, which includes photos, blog posts, the people you are connected to and more. These

media speak about your behaviour, experience, social influence and hobbies.

If you’re looking for new employees, some of your brightest candi-dates are already being courted by well-socialized companies with a dynamic and transparent online presence. If you want to attract these candidates, your corporate social graph had better speak to them about the growth opportunities you offer employees, your or-ganizational value and your purpose beyond profit. This is especially important when targeting generation Y, aka millennials born after 1980.

With that said, there is a common misconception that only kids (a relative term for those of us over 35) use social media. The truth is, Facebook’s growth from 250 million users in April 2009 to 600 million today is largely due to people over 45 joining the network.

By Shane Gibson

shane gibson is Chief social officer for socialized!, a social media, training, intelligence and seminar company. he is also co-author of Guerrilla Social Media Marketing and Sociable! http://socialized.me or @shanegibson on twitter.

outlook 21

When an executive tells me that their clients don’t do social media, I have a simple and accurate response:“Yes they do, you just haven’t figured out where they are and how you’re going to engage them.”

Take it a step further and ask yourself how socialized and discov-erable your brand is online. Does your presence consist of a single website and a sparse LinkedIn profile, or have you truly maximized your exposure on the relevant networks? The more consciously and methodically you craft your online presence, the better chance you have to stand out from the masses.

Despite the adoption of social media by mainstream society, many marketers and professionals in the business-to-business (B2B) space still question its relevance.

I asked Jeff Booth, the CEO of BuildDirect.com (the world’s larg-est online wholesaler of building supplies) how his company engages B2B versus business-to-consumer (B2C) markets, and here’s what he said: “Social media is not really about B2C or B2B, it’s about P2P, or person-to-person communications, and adding value.”

The reality is that most decision makers or their direct influenc-ers use the web to find information on a vendor and the individual employees they are dealing with. Consider this:

•69percentofB2Bbuyersusesocialnetworks“primarilyforbusi-nessnetworkinganddevelopment”(About.com)and

•while“stereotypesmayhaveC-levelexecutivesdelegatingresearchtoothers…53percentprefertosearchtheWebandlocateinforma-tionthemselves.”(GoogleandForbesInsightsstudy,2009).

Social media is not a separate silo or discipline. In fact, companies in the B2B space like BuildDirect.com, Oracle, SAP, Intel, Accenture, GE and Siemens have found that it is most effective when integrated with business and marketing processes. Social media has also given them a significant advantage over their less socially engaged com-petitors.

So how do you start – and how do you do it right the first time?

There are many things to consider as you wade into the social media space. I have worked with everyone from individual accountants and non-profits to Fortune 500 companies with well-developed social media presences and strategies. Even though these groups are diverse, the same principles for success apply – especially if you’re just beginning.

In our book Sociable!, Stephen Jagger and I put together seven rules of engagement and a seven-step plan for those launching (or re-launching) into the social media space. Although the tools will change (remember MySpace?), the rules of engagement will not.

The Socialized Professional

22 outlook

Stop pitching and Start connecting

The term “social media” can be misleading. It sounds like something used to broadcast a message, like a digital bull-horn. In reality, it’s more like a telephone, creating opportunities for two-way communications. Showing up on the social web and pitching every person you meet for a career opportunity or business deal is like showing up to a cocktail function and pass-ing out brochures while rudely interrupting conversations. This type of behaviour – online or offline – will quickly get you blacklisted.

It’s like a real estate agent posting all of their house listings on their Facebook page think-ing it’s the social thing to do. No one cares about what you’re listing until they want to buy a house. Of your 300 connec-tions, only 10 at the most will see it as relevant. The rest will see it as noise, choosing to mute your updates or disconnect altogether. Instead, the real estate agent could be asking people about their favourite restaurants in the area, interviewing local business people and promoting local charity events online. In addition, they should take an interest in what their network is talking about by commenting on their updates and contributing to positive conversations. Almost all business transactions or career opportunities begin with a relationship. That relationship is started by making connections

and having meaningful dialogue. The pitch artist usually misses the opportunity.

doerS win in the game of Social media

People who keep to themselves and lurk on social networks rarely profit. Similarly, having a lot of connections or conversa-tions won’t guarantee a return on investment. Social media is a content game. This content comes in the form of blog posts, videos, status updates and even public conversations. Because most of the population uses the same blogging and social media tools, there is a lot of content and noise out there.

Move beyond creating content to becoming a thought leader. Thought leaders are doers who consistently contribute to their online community and create content. Their content, however, is different. It’s unique and tai-lored to specific target markets and communities. Thought leaders also create opportunities for others to connect. This often includes starting online groups focused on specific disciplines or even offline events where they bring their virtual connections into the real world to deepen relationships and create com-munity.

it’S not about youSome people become puz-

zled when we talk about unique content. They think it’s about sharing their company vision or latest product features using

different formats or language. It is vital to understand that it’s not about you. If you want to build a loyal blog readership or heighten engagement on your corporate Facebook page, the content has to be about your customer, com-munity or stakeholders.

This doesn’t mean you are necessarily writing about them specifically. What you are doing is creating content and hav-ing conversations about things that educate them or help them solve problems or achieve their goals. This community-centric approach will help you build a strong and engaged online network. When people ask me what they should blog about, I often suggest that a good place to start is the ten most common questions or concerns of your customers or stakeholders.

be fearleSS in your contribution to community

I started podcasting in 2004, regularly posting my 15-minute programs on common sales or leadership challenges and how to overcome them on my blog. I soon had many hours of free content available online. Several peers and even mentors expressed concern. They thought if I gave my intellectual capital away for free, people wouldn’t hire me – why would they need to?

Because this was new ground, I could only trust my intuition. Instead of pulling back, I did more podcasts, including inter-views of other authors who were traditional competitors. I even gave away digital versions of our training manuals. What was the result? Through search engines, podcast directories and refer-rals from executives who were subscribers, my blog and podcast became my number one source for new business. Many of the referrals or direct leads that are now long-term clients include

major Fortune 500 companies and some of Canada’s most suc-cessful high-tech firms.

Give more than your competi-tors think is practical or neces-sary. Talk and engage more than others. You’ll soon build a strong online network and community that will literally produce busi-ness and career opportunities daily.

don’t be a Social Spammer, engageWhen we think of spam

we think of emails offering pharmaceuticals or free travel. Some marketers argue that mes-sages through LinkedIn, Twitter or Facebook aren’t spam because you have opted-in to receiving them. This is social spam – any generic message sent to your contacts that is not of specific interest or customized to them. At best, it’s noise, but truly, it’s an affront to the trust and permis-sion your contacts gave you to engage with them on a very personal level. For example, if you want to promote an event to your LinkedIn connections, take the time to segment your contact base and only send the event information to those for whom it’s relevant. You may even write different invitations to the same event based on particular de-mographic segments. This extra step will help you rise above the noise. Always look through the eyes of the reader and ask if your message is truly relevant, timely

and customized.

be authenticBe authentic because you

and your organization don’t have a choice. People used to worry about “Big Brother,” but I’m worried about the 500 people on every city block armed with the ability to instantly post and broadcast photos, video, tweets and information.

If you don’t want photos of yourself on the Internet wearing

The Rules of Engagement1

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outlook 23

a lampshade on your head at the latest ac-counting convention after-party, stop wear-ing lampshades. Some people resist joining Facebook for this very reason. Not joining Facebook, Flickr or Twitter won’t prevent others from uploading photos and informa-tion about you. It just makes you oblivious when it happens.

The same goes for corporate behaviour and social responsibility. In the past, a good PR team and well-placed advertising could whitewash most wrongdoings. Today, an unhappy customer will share their nega-tive experience with 1,000 people online. A disgruntled employee who has been treated injudiciously will not just write a complaint letter – they can deliver proof of your wrongdoing to a site like WikiLeaks or a network of local bloggers that reaches mil-lions of eyeballs.

The upside of this equation is this: if you are authentic and have strong personal and organizational values, the new hyper-trans-parency will work in your favour. While your competitors are trying to hold back the tide with antiquated policies, you can ride the wave. One thing to note: there’s a differ-ence between transparency and revealing confidential or proprietary information. If

you’re unsure, don’t post.

be conSiStentKeep your identity consistent. Have

a consistent message, online identity and tone. People want to know where you and/or your company stand. Social media allows your organizational and personal values and personality to bleed through online.

Another form of consistency is consistent presence. I have seen many corporate blogs with three-month gaps between posts, or Twitter questions left unanswered for days or even weeks. Facebook is littered with thousands of corporate pages with hundreds of unanswered questions and client com-ments. Having a Facebook page, Twitter account and blog isn’t enough. You need to be consistently present.

Once you and your organization under-stand the rules of engagement, you need a solid strategy before you engage. Some people will tell you it’s enough to be social and well liked. That attitude can result in hundreds of wasted people-hours and a very weak online branding effort. Your social media launch should include the following seven steps.

identify your goalIt’s hard to measure your effectiveness if you don’t have a goal. It could be as simple as in-

creasing your online influence or blog traffic by X per cent. It could include multiple ROIs, such as reducing recruiting, PR and marketing costs; increasing customer retention; and generating a certain amount of new business opportunities in a calendar year. Your goal will help define the type and intensity of activity you engage in. Remember that most social media efforts don’t pay immediately. If you are new to the space, it could take 6-12 months before the ROI really starts.

identify your target audience and nano-marketSTo focus your content and efforts, you must first know your target audience and the sub-

groups or nano-markets within it. If you’re looking for career advancement, focus on corporate decision makers in your sector and those that influence them. Nano-marketing or hyper-segmenting means that instead of broadly engaging senior executives, you break that segment down by industry, geography and size of company, and have separate strategies for each. As a company, recognize that when you use new channels of communication and marketing you often discover new untapped markets.

pick the right platformSNot everyone should use Twitter or YouTube. Once you identify your nano-markets, find

out what tools and platforms they use and start there. In addition, always look slightly to the fu-ture by testing and educating yourself on new technologies and innovations that the market may adopt. It’s always better to be a little early in adopting technology rather than late to the game.

have a Social media policy and train your teamNot having a social media policy before you launch is like handing your child the car

keys without driving lessons or a curfew, and then wondering why things went wrong. A good social media policy will not stifle innovation or make your organization less social. It will, however, give your team a framework of accountability and direction that will result in fewer missteps and wasted resources. Organizations you may want to emulate are Ford, Intel and the US Air Force, all of which have posted their very thorough social media policies and guidelines online.

implement a liStening and engagement StrategyUse social media monitoring tools like Twitter Search, PostRank and Google Alerts to find

business intelligence, identify stakeholders and see what people are saying (right now) about your company, competitors and industry. Social media is more about listening than broadcast-ing and these tools are your ears and eyes on the web.

know core painS and dreamSBy listening to and engaging with your stakeholders, clients or future employers you

will learn how to be relevant. Observe and take note of their goals, challenges, interests and preferred methods of communication. It’s not enough to have a general idea of what’s important to your target nano-markets. To win in social media communications, you need to know your market more intimately and in greater depth than the competition.

create unique content relevant to your nano-marketS Once you truly understand your nano-markets, take it to the next level. Start blogging,

tweeting and creating content that helps them with their challenges and goals. Forget about cut-and-pasting press releases, product info or any other types of me-focused marketing. Work on elevating yourself above “job seeker” or “marketer” and provide content and community engagement that positions you as a thought leader and network hub. If produced consistently – coupled with being conversational – this content will help you truly socialize your personal and corporate brand.

Once you have launched, stay active, keep listening and be consistent. Social media is a messy media: it’s more like a cocktail function than a tradeshow, and you will have to adjust your strategy as the tools and markets change. Stay flexible, authentic, open and – most of all – be Sociable!

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As many companies already know, having a business presence in the social media communities of Facebook, Twitter and YouTube can improve the bottom line. Being able to connect with customers and prospects to build loyalty and community goes a long way in today’s world, and social media marketing is definitely chang-ing customer relations.

When implementing a social media strategy, businesses often ask, “do we open this up to the company?” Some argue that allowing employees to access social media sites during the day results in a productivity drain, and they encourage businesses to set up website filters and ban social media sites from the workplace.

However, researchers at the University of Melbourne recently published a study concluding that when employees visit websites of personal interest, such as social media sites, the mental break actually increases their ability to concentrate on work tasks. The

researchers documented a nine per cent increase in productivity among their subjects. As they explained, “the activity helps keep the mind fresh and helps put you in a better place when you come back to working on topic.”

Remember, too, that people don’t focus 100 per cent of the time on their assigned work. They’re getting a snack, going to the washroom, talking to co-workers, daydream-ing or surfing the web. So they’re already taking time for distractions. The question is, do you want to offer a suitable distraction, or let your employees choose their own distractions? Clearly, giving your employees an acceptable distraction is the way to go, especially if doing so helps your bottom line.

However, you can’t simply allow everyone to post arbitrarily to social media sites. It’s not a good idea to put your foot on the gas and then let go of the steering wheel. You need to establish rules of engagement using the following suggestions as a guide.

Put everything in writingDetail what is and what is not allowed to happen on your social media sites. For example, you may want to specify that employees must keep all posts positive and that they must not disclose proprietary information, share client information, divulge salary or benefit information, or reveal any corporate intelligence. What you allow or disallow is up to you and your specific company culture. Some companies may decide that they will talk about their clients and customers (with the customer’s permission), while others believe that this invites competitors to try to steal their clients. The main point to remember is that if you wouldn’t post the information on your corporate website, don’t post it on a social media site.

Make it clear in the document that if employees break any of the rules outlined, their job is in jeopardy. Additionally, reveal whether HR is monitoring emails, posts and tweets. Have each employee sign off on the social media rules and place a copy in each employee’s file.

Test the waters firstRather than letting everyone jump in feet first, start by forming a social media committee. Send out an invitation to employees to join the committee (make sure they know it’s optional). Those who come to that meeting will be the best people to represent you on the Internet. Work with them to clarify the rules of engagement and to define your company’s purpose for being on social media sites. Then, allow these people to become social media advocates for your company. After a few weeks, have them report back to you on what’s going well, what’s not working and what they’ve learned.

After you make policy or imple-mentation adjustments based on this feedback, open social media sites to successive groups of people until ev-eryone who wants access has it. Don’t force it on anyone. If someone doesn’t want to tweet, blog or do Facebook posts, that’s okay. Forcing people to be your social media voice will backfire and cause more harm than good.

feature

Rules of EngagementFive strategies for implementing social media in your organizationBy Heather Lutze

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heather lutze has spent the last 10 years as Ceo of the findability group (formerly lu-tze Consulting) – a search en-gine marketing firm that helps companies attain maximum internet exposure. a nation-ally recognized speaker, she is the author of The Findability Formula: The Easy, Non-Techni-cal Approach To Search Engine Marketing. heather is a lead speaker for the pay per Click summit, and previously spent two years training advertisers at Yahoo! search Marketing.

outlook 25

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Make it fun To get people excited about social media, have an internal contest. Give everyone (or every depart-ment) a promo code for some-thing happening in the company, such as a special sale or event. Then, let people market to their family, friends, customers and so-cial networks. Whichever person or department has the most promo codes redeemed receives a gift or prize such as a catered lunch or even a day off. The point is to en-gage the company meaningfully so you can see some bottom-line results.

One major retailer did just this and had a $3 million bottom-line improvement during the economic recession. This company had never before opened social

media sites to its employees. Now they’re a believer in the power of social media marketing. So don’t be closed-minded in terms of who can use social media. Let everyone promote your company’s products and services.

Consider your IT and other staffing needsWhen implementing social media access company-wide, IT consid-erations are critical. You’re opening your company outside your corpo-rate firewall. Therefore, make sure you’re protecting your company’s assets and work with your IT team to ensure you’re protected before opening those portals.

Additionally, while doing social media posts can be a rewarding part of people’s day, eventu-

ally you will need a full-time staff member to oversee your social media activities. In fact, within the next two years, every company with over $2 million in revenue should plan to have that full-time position as part of their company structure. Big companies already have such dedicated positions in place; take your cue from them and start planning now.

Implement your social media activity and policy from the top downYour company’s top-level execu-tives also need to be willing to dive into social media activities. If your employees see that the CEO is regularly on Facebook, posting tweets and blogging, and that he or she is having fun doing it,

your employees will also embrace social media. No matter what the company size, structure or culture, the use of social media needs to work its way down.

The way of the futureContrary to what some may think, social media – especially for business – is not a fad. It may morph and change over time, but it’s certainly not going away. Those companies that embrace it now and get employees involved will be the ones reap-ing the most rewards. So set up your social media guidelines and gradually phase them into your operations. Not only will your employees’ productivity increase, but so will your company’s bot-tom line.

Make it clear that if employees break any of the rules outlined, their job is in jeopardy. additionally, reveal whether hr is monitoring emails, posts and tweets. have each employee sign off on the social media rules and place a copy in each employee’s file.!

26 outlook

It may be hard to imagine, but there was a time when the Internet had not yet taken over our lives. In fact, your inbox may have been hit with a popular viral video showing former NBC Today Show anchors Katie Couric and Bryant Gumbel asking ‘What is the Internet?’ and expressing confusion about the ‘@’ symbol. In all fairness, this off-air footage is from 1994, but it does illustrate how far we’ve come in a short period of time.

We can only wonder if we are now at a similar juncture when it comes to social media. After all, there is no shortage of skepticism when it comes to the value of Twitter, Face-book and their many cousins, especially in terms of real business value.

To find out how CGAs can use social media to achieve business objectives, Outlook interviewed Jason Trefanenko, CGA, the Managing Partner of McLaren Trefanenko Inc., Certified General Accountants in New Westminster, and Heather Maclean, a CGA student working at his firm.

Outlook: What is the scope of your current social media plan? Three of 16 people in our firm use social media for professional purposes and to represent our firm. As we began exploring the potential benefits of social media, we were careful

to start with a small trial group. We currently have three individual accounts and one account for the firm on LinkedIn, two individual accounts and one account for the firm on Twitter and we use WordPress as our blog platform (blog.mti-cga.com). To increase our efficiency, we use HootSuite to manage our LinkedIn and Twitter accounts. In the future we may use YouTube for knowledge sharing and marketing purposes.

But not Facebook?We are still assessing whether using Facebook for our firm makes sense, but we are not yet convinced that it represents our target social network.

So with two applications, a blog and maybe YouTube in the future, how much time do you spend on all your social media activities?With LinkedIn and Twitter, it’s an average of 20 minutes per day per person. You can spend as little as 10 minutes a day on LinkedIn and Twitter to get some benefit, and find-ing 10 minutes is relatively easy. As for our blog, we post a new entry every two weeks. This means that with the writing and site administration we probably spend four hours per week in total on social media. We are still working out the kinks on the blog site, and trying to find the time to research, draft and review a 500-700 word blog article is definitely a challenge.

The biggest question skeptics have is why someone should use social media.We have defined two purposes for our social media program. First, as a producer of social media, we want to fill a knowledge gap we believe exists in specific practice areas – for example, ‘Estates’ – and we want to increase awareness about our firm and the services we provide. Second, as a consumer of social media, we want to stay current on topics and issues that affect our client base and we want to connect with other professionals.

What were your first initiatives?The first thing we did was to sign up for LinkedIn and Twitter accounts and create profiles. We learned how they worked and gained a better under-standing of how things would look to our LinkedIn connections and Twitter followers. In the beginning, we did a lot more ‘listening’ than posting to get a better sense of how active users were currently using LinkedIn and Twitter.

Our first blogging attempts were well-received – in fact, a charitable organization asked to include one of our entries in their newsletter. This particular blog posting came to their attention via LinkedIn.

Some say that social media is just a fad. What do you think?Social media as a platform is not a fad. However, we do think that the way it’s used, as well as the tools available and the pace of change, will continue to increase.

Can you give us an example of a social media benefit? We think it provides a very efficient means of communicating to or with clients and other professionals. Tradi-tional communication methods can require a considerable investment of time and money. After copy writing, fact checking and the whole pre-press, press and distribution process, the message may not be relevant by the time it is received. With social media, the publication process is immediate. Of course, the associated risk is that misinformation or impulsive posting can have negative results.

What are the common misconcep-tions about social media?That people are using it for frivolous purposes. Thousands, if not millions, of professionals are already using social media to connect with each other, and most of them are not posting about what they ate for lunch. The other misconception is that social media is a time-waster. You have control over your time, and can only blame yourself for wasting it.

feature

The Social CGAA blueprint for using social media to achieve key business objectives

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“at minimum, Cgas should be on linkedin. it is the place to be for professionals and is like a worldwide phone book. linkedin can provide great business and personal networking opportunities.” !

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Any words of advice to avoid big mistakes?The most obvious advice is do not post anything you wouldn’t want to see on the front page of a newspaper. Also remember that everything you post is permanent. There is no value in setting up accounts and not doing anything with them. Finally, you should have a profile picture and provide enough information for people to contact you or get a general idea of who you are.

Why does a CGA or CGA firm need social media if they already have a website?At minimum, CGAs should be on

LinkedIn. It is the place to be for professionals and is like a world-wide phone book. LinkedIn can provide great business and per-sonal networking opportunities. Building up a social media profile cannot happen overnight and you never know when you could use the help of your network.

How does a CGA or CGA firm start a social media program? Our social media program started with attending a professional development session with Merge Gupta-Sunderji at the 2010 CGA Conference in Whistler. If you can’t attend a seminar, search ‘social me-dia for business’ on youtube.com.

But perhaps the best way to learn about social media is by using it. We have found it very advantageous to have more than one person explor-ing and learning about social media tools. We meet regularly to share what we’ve learned and to provide feedback on each other’s profiles.

This magazine is for accoun-tants, so naturally we need to ask one important question: how much money will this cost?The biggest cost is time, so don’t start a social media program during tax season or year-end. We have invested considerable time to set up social media profiles and learn how to use the tools, but our

out-of-pocket costs are less than $1,000.

How much time should be committed to it?After attending a seminar or spending a few hours research-ing social media online, choose a couple of social media outlets. Setting up your profiles and learning the options and features available will probably take at least a full day. We couldn’t set aside a full day, so we ended up spending an hour or two each day for a week. A word of caution: since the possibilities are infinite, so is the amount of time you could spend on social media. It is very easy to get distracted and lose focus. Once you have developed a good foundation and can switch to maintenance mode, you only need to spend a few minutes each day to see what’s going on in your network.

What do you see happening next in terms of social media?There will be more cross-corporate involvement, with social media moving out of the marketing department and into all areas of the organization.

Any final thoughts on why it was important for you to de-velop a social media strategy?We wanted to be a part of the conversation. Social media allows people from different fields work-ing in the same industry to easily and cost-effectively communicate and discuss topics of mutual inter-est. It is exciting to be a part of, or even just watch, conversations between people who are just as passionate about accounting and tax as we are. We feel we have a lot of specific expertise to share and there are so many other people willing to share their expertise that we can learn from.

Jason Trefanenko, CGA, Managing Partner of McLaren Trefanenko Inc., Certified General Accountants

28 outlook

I am not a social media expert! In fact, just two years ago, I knew very little about social media. I had accounts on Facebook and LinkedIn, and I occasionally visited YouTube to watch a funny pet video or two. But that was the extent of it.

Yet today, here I am, authoring an article on this subject. I can, because in September 2009, I successfully launched a social media marketing strategy to benefit my business. You might first ask why I chose to venture into this world of blogging, friending, linking and tweeting and then perhaps you’ll ask me how I did it. I will answer both those ques-tions, but first let me tell you a little bit about myself and what I do.

I am a professional accountant, a CGA, but in 2002 I left my long-time career in the nat-ural resources industry to establish a leadership development and workplace communi-cation training company. My practice today focuses on turning managers into leaders. My clients tend to be mainly junior and mid-level managers and supervisors in mid-sized to large corporations across Canada, the US and the rest of the world. As you might expect, they come from all walks of life with different backgrounds and experiences, but they share one thing: they are seeking specific and practical tools to work more effectively with their staff and colleagues.

Which brings us directly to the why. Why did I embark upon a journey into the world of social media, a dark murky place of which I knew very little? First, consider these telling statistics:

•96 per cent of people born between 1980 and 1994 have joined a social network.•If Facebook were a country, it would be the world’s third largest after China and

India.•80 per cent of companies are using LinkedIn as a recruitment tool.•YouTube is the second-largest search engine in the world.•There are over 200 million blogs, and 54 per cent of bloggers post content or

tweet daily.

The cynics may discount these facts, but the evidence is overwhelming. There is a fundamental and massive shift in the way people, primarily those entering the workforce, are communicating with one another. And this has enormous implications for how we recruit, motivate and communicate with people in our organizations. Just as importantly, social media is changing how our customers select and buy the services and products they need. This is my reason. This is why I chose to brave the mysteries of microblogging and the secrets of social networks.

As I write this, my target market is shifting. With existing managers and supervisors moving towards retirement, there’s a whole new breed of young leaders taking their place. And these people speak the language of social media. If I am to continue to be relevant and significant to my clients, I must speak to them in their language. I still need to communicate to many clients using traditional approaches, but if I want to exist as a business entity in the long term, I also need to start shifting my approach.

I need to be present – being an expert resource and sharing knowledge – in the same places visited by my current and future customers. If I’m not, I’ll work myself out of a client base. No matter what industry you’re in and how well established it is, your consumers

and employees are behaving differ-ently than they did before. They meet in different places (social networks, forums), they share content and spread the message (viral videos, Twitter) and they influence and comment (blogs). Word-of-mouth is stronger than ever. Social media is the biggest shift since the industrial revolution. If you choose to ignore it, you do so at your own peril.

So then let’s talk about the how. How was I, a social media novice, able to implement a social media marketing strategy in four short months? Re-member, in April 2009 I knew nothing about this topic, yet in September, we successfully launched my company’s social media presence. Here’s what I did on my journey.

I researched and I read. I called people who already had some experi-ence in this area. Google and YouTube became my best friends. I discovered a wealth of information on the Internet that can help you climb the learning curve quickly without becoming a technical wizard. But it’s also important not to get overwhelmed. The number of social media options can be mind-boggling, so here’s a quick primer on the seven main types:•Forums and online communities.

These are virtual places where people gather to talk. Different forums focus on different subjects. Those looking for a job might go to the Monster job forum, frequent flyers meet at Flyertalk and timeshare owners discuss vaca-tions at the Timeshare Users Group.

•Blogs. There are over 200 million of them on just about every topic you can imagine. The Huffington Post is one of the most well known.

•Social networks such as Facebook and MySpace. LinkedIn as well, but it has more of a business focus.

•Multimedia sharing sites such as YouTube, Flickr and SlideShare.

•Social bookmarking, such as Delicious and The Hotlist, to help you organize and search for bookmarks of resources online.

•news search engines and rank-ing sites such as Digg, Wikio and StumbleUpon.

•Microblogging sites such as Twitter and Seesmic.

feature

I am not a social media expert

By Merge Gupta-Sunderji One CGA’s brave foray into the world of blogging and Facebook

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“i discovered a wealth of information on the internet that can help you climb the learning curve quickly without becoming a technical wizard. But it’s also important not to get overwhelmed.” !

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As I researched, I knew that I did not want to participate in every single social media option available in cyberspace. Instead, my goal was to understand where my existing and future clients were most likely to gather. That was where I also needed to be pres-ent. On that basis, we eventually decided to engage in five social media components – a blog, Facebook, LinkedIn, Twitter and YouTube. Your decisions will likely be different, depending on your business and target market.

Time was another very im-portant factor. The financial cost of entry into social media is low, and so your natural inclination can be to do more rather than less. Social media tools tend to be inexpensive or open source

(free). However, the price is paid in time. It takes time to blog and post and tweet, and it’s critical that you don’t underestimate the time

needed to participate in social media. For your strategy, deter-mine your frequency of participa-tion and stick to it. The worst thing you can do is start a blog and then never post. I made a decision to blog, post and tweet at least twice a week and I have never wavered!

So today, less than two years later, I am still not a social media expert. But then, I never wanted to be. My goal was simply to be present in the same virtual space as my clients. If your target market is shifting, you also need to do the same. You don’t have to be an ex-pert to use social media to benefit your business. You just need to make deliberate and thoughtful decisions about your strategy, and then invest some time and energy to implement it.

Merge gupta-sunderji, Cga, MBa, Csp, turns managers into leaders and she recently ventured bravely into the world of social media. Join her on linkedin. You can read her blog at www.mergespeaks.com/blog, visit her facebook page ‘turning Managers into leaders’ or follow her on twitter @mergespeaks.

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•elance.com Inexpensive freelance services for just about anything!

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BookS:•BuildingaWordPressBlogPeopleWanttoRead by Scott McNulty

•TwitterPowerby Joel Comm

resourcesSocial media resources for non-techies

30 outlook

Menswear this spring offers a new business suit silhouette, a tonal,

muted colour palette and a level of sophistication

that is relaxed, not rigid.

Harry Rosen calls this modern suit the ‘New Cut.’ They say that it “offers a slimmer silhou-ette, fits close to the shoulders, hugs the collar, has higher armholes, a well-balanced lapel and is an appropriate length. Pants must be flat front and are cut closer to the leg with little to no break – cuffs are optional.”

Best suiting colours for spring 2011? I sug-

gest you pack away your dark navy, black and charcoal grey suits until next fall. Look for softer shades of dove grey, tan and camel in lightweight wool. For the summer, I’m always a fan of the slim cut, cotton poplin, tan suit. It just looks crisp, modern and office-appropriate during those sunny summer months. Dark suits in the heat of July look odd and out of place.

A soft grey suit is fresh and plays well with pops of colour as accents in shirts, pocket squares and ties. I especially like the new tur-quoise, butter yellow and mango shades played against grey. Pair your tan suit with touches of navy and dusky blue this spring.

(Continued on page 32)

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stylematters by Catherine Dunwoody

Double-breasted suit by Canali

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getting down to business

32 outlook

Single or double-breasted? You’ll find both on the racks at your favourite cloth-iers. I always suggest stepping out of your usual comfort zone and at least trying on a well-cut, single-breasted suit if you think you are always a ‘double-breasted suit guy.’ Most men are surprised with the slimming results. Note to men of shorter or stockier stature: double-breast-ed suits are not your best choice. Wide, peaked lapels will make you look shorter and wider, as they draw the eye outward. Single-breasted jackets tend to provide lengthening, vertical lines, which are a shorter fellow’s best friend.

The newest look in footwear has to be oxfords and brogues in buttery cognac or tan leathers, with details like gradient ‘ag-ing,’ perforations and contrast stitching. Cheap or old shoes can absolutely ruin your look, even if paired with a brand new suit. Keep tabs on your footwear, rotate the pairs you own and keep them in good repair and well polished.

When it comes to menswear, your belt should absolutely match your shoes. This rule may bend for women, but it doesn’t for men, especially when it comes to dressing for business. Tan belt? Tan shoes. Give your belts a once-over too. Are they starting to crack where the holes are? That’s just regular wear and tear, but it looks bad if it shows, especially when you take your jacket off and your belt is on display, front and centre.

Wear glasses? An old, out-of-style pair can really date your look. Strong bold frames are the way to go, especially in tortoise, black or chocolate brown. Geek-chic is hot this spring – and men look fabulous in glasses with great style.

For outerwear that you can wear pretty much any time of year, you can’t beat the trench coat. It always looks stylish and pulled together over your suit, and new technology has produced fabrics that not only repel water but also resist wrinkling. A trench is great for travel too. Have you looked at your own coat after it’s been balled up and squashed into the overheard bin of a plane? New, treated fabrics make all the difference.

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•An experienced portfolio manager – specializing in income generating port-folios as well as income and growth portfolios.

•Cost effective investment management

•Extensive knowledge of registered products – IPP RRSP, RRIF, TFSA, LIF.

•Diverse linguistic resources – We speak English, Mandarin and Cantonese.

Zadra Wealth ManagementHSBC Securities (Canada) Inc.885 West Georgia Street, 11th floorVancouver B.C – V6C 3E8Tel: 604-623-3256 Toll Free: 866-858-4722Email: [email protected]: www.stevezadra.ca

HSBC Securities (Canada) Inc. is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. Member-Canadian Investor Protection Fund.

outlook 33

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Corporate dressing for women this season doesn’t have to be stuffy, ultra-conservative or just plain boring. Who says you have to sacrifice style for office-appropriate? You really can have both.

nine-to-fiveMany retailers now understand that there are female customers who must wear a suit or business dress every weekday. Some labels are savvier than others in addressing these custom-ers and offer chic, ready-to-wear collections alongside their casual weekend attire.

Tara Wickwire, Director of Public Relations at Gap Canada (which includes the Banana Republic brand), says, “Banana Republic is a great destination for a wear-to-work wardrobe because women can start with their favourite cuts of blazers, pants and skirts and then enhance those pieces with great-fitting blouses and scarves from season to season. It’s impor-tant to convey your personal style within the boundaries of your corporate dress code. With simple add-ons like a chunky gold necklace, you can be subtle and chic at the same time.”

My own rule of thumb when it comes to shopping for a suit is to purchase the jacket, pants and skirt in the same fabric, as this stretches out your wardrobe mix-n-matchable

possibilities. While this is a bit more of an investment at first, you’ll be glad you did it in the long run.

Colour options? Depending on your career and your clients, you know whether that tomato red dress or crisp white suit is going to fly. If you work in a more corporate ‘navy suit’ environment, then go for a deep French navy blue or a nice grey – timeless and always effortlessly chic, especially in a cut that fits you

perfectly. Year-round mid-weight fabrics are a smart choice too.

Don’t cheap out when it comes to what you spend on a suit, be prepared to pay a little more for quality fabric and cut, and if altera-tions are needed to tweak the fit to absolute perfection, then find a good tailor and pay for that service. This is well worth a bit of extra expense, because proper fit is crucial.

Another wardrobe essential worth consider-ing is the classic trench coat. Your safest bet is to choose a colour that will have some ‘legs’ over a few years and look great over everything in your work wardrobe. As much as you love that baby pink trench in the store window, it doesn’t really say ‘business’, so best leave it on the mannequin. Instead, opt for a classic shade of camel, khaki, navy or black.

Add-ons this season should be deliberate and strong. I’m not a fan of tiny, fragile, per-sonal jewelry that distracts from your business persona or looks mismatched. Instead, choose

Top:BananaRepublicsuitssend‘stuffy’lookspacking•www.bananarepublic.ca

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36 outlook

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a chunky, mannish watch, statement necklace or bracelet that was deliberately chosen as part of your look, not a necklace you normally wear day and night.

A larger handbag can do double-duty as a briefcase if you like to streamline and carry less to outside meetings. Textured leather, like snake and python, adds interest, and quality gold or silver hardware is still going strong this spring. Just be sure your bag isn’t blinged-out with too many bells and whistles. What you carry for business should not be what you take out on the weekend.

Two important trends for fashion footwear this spring just happen to be ideal for the office – the loafer and the slingback. Loafers are great with pants and knee-length walking shorts (a nice alternative to the skirt with its matching blazer), and they work any time you need com-fort and style. Choose loafers that are sleek and expensive looking, even if you got them for a steal. And watch for the return of slingbacks, with either a kitten or mid-heel, which are the perfect skirt or dress shoe. I love the specta-tor, a black-and-white two-tone version that represents Chanel inspiration at its best.

BrownsShoesloafers•www.brownsshoes.com

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keepingtabsCGAs in the News

Dr. Dan Simunic, FCGA, has published a research paper titled “Voluntary Audit and the Cost of Debt Capital for Privately Held Firms: Korean Evidence”, in Contemporary Accounting Research. Dr. Simunic, who has held the CGA Professorship in Accounting at the Sauder School of Business at the University of British Columbia since 1994, teaches account-ing and auditing at both the undergraduate and graduate levels. His research interests focus on the economics of auditing, with an emphasis

on empirical research in audit production, pricing, audit quality, auditor choice and the impact of legal liability on auditor behaviour. He earned his Certified Public Accountant designation in 1967 and Certified General Accountant designation in 1987. He was subsequently

awarded an FCGA, and in 2008 was named one of the ‘100 CGAs Who Have Made a Difference.’

Members on the Move

Sonya Atwal, CGA, was promoted to Chief Financial Officer of Crosshair Explora-tion & Mining Corp. Ms. Atwal previously served as Control-ler for the Canadian mining exploration and develop-ment company.

Carlos Escribano, CGA, is the new Vice President, Finance and Chief Finan-cial Officer for Gold Hawk Resources Inc., a Vancouver-based mining company that owns and operates a copper mine northeast of Tucson, Arizona.

Ann Fehr, CGA, has been appointed Chief Financial Officer of BioWest Therapeu-tics Inc., a pharmaceutical company headquartered in Vancouver.

Danny Hon, CGA, was elected to the Board of Direc-tors and will serve as Chief Fi-nancial Officer of Lucky Strike Resources Ltd. Mr. Hon is a

partner of Hon & Wong, Certi-fied General Accountants, based in Vancouver, B.C.

Christopher Hopton, CGA, has been elected to the Board of Directors of Sirona Biochem Corp., a biotechnol-ogy company specializing in carbohydrate-based mole-cules, including therapeutics for diabetes and obesity. Mr. Hopton is Sirona Biochem’s Chief Financial Officer.

Brady S. Jepsen, CGA, MBA, CFP, has been promot-ed to Vice President, Regional Sales – Western Canada, for the CUMIS Group Ltd.

Paul J. Leedham, CA, CGA, joined Manning Elliott LLP, Chartered Accountants as a senior manager in their assurance group. He was previously a senior manager with Ernst & Young LLP and

articled with Ellis Foster, Chartered Accountants.

Gayle McConnell, CGA, has been promoted to Principal at Manning Elliott LLP, a

140-person chartered ac-counting firm with offices in Vancouver and Abbotsford.

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CGAs are accomplished professionals. In this feature, we highlight members who land major new

jobs, get promoted or achieve significant professional success. Please share your news with us.

Toufic (Téo) Dina, CGA Mortgage Advisor

ORIGIN HOME FINANCIAL PARTNERS

Origin - SP Seal Mortgage Corp. P: 778 - 230 - 9059 F: 604 - 677 - 5953 [email protected]

A CGA for mortgage advice

we appreciate your contributions to ‘Keeping tabs.’ if you would like to submit news or updates concerning yourself or a Cga you know, please email the details to: [email protected].

38 outlook

publicpracticeedifierWe have all heard that trust

must be earned. If you have children past the toddler years, you have probably

made this statement yourself a few times. This article – the second in a two-part se-

ries – describes the behaviours that make or break the trust in all of your relation-ships. When you consistently demon-strate these behaviours, you will build trust. When you don’t, trust is eroded.

In his book The Speed of Trust: The One Thing That Changes Everything, Stephen M.R. Covey defines the 13 behaviours that drive trust:

1. keeping commitments2. Delivering results3. Clarifying expectations4. Creating transparency5. Talking straight6. Listening first7. Righting wrongs 8. Practicing accountability9. extending trust first10. Showing loyalty11. Showing respect 12. Getting better13. Confronting reality

This article discusses the first nine, many of which tie to and hinge upon each other. How well do you and others in your firm demonstrate these behav-iours? To enhance trust in your organiza-tion, use the ideas below as a starting place to build, or rebuild, trust in your professional relationships.

keep your commitments and deliver results. At ConvergenceCoaching, we call this integrity, which is essentially keeping your word – doing what you said you would do when you said you would do it, behaving the way you say you’re committed to behaving, and exhibiting the same values you say are important to

you. For example, if you say that you’re committed to work/life balance but the team members you manage struggle to take their vacations and are constantly working overtime, you have an integrity gap between your stated commitment

and your actual behaviour. When you commit to review your portion of a proj-ect and return it to a colleague by Thurs-day, but you don’t complete it until the following Monday (for whatever reason, even if it feels “reasonable”), you have an integrity gap because you did not keep your stated commitment.

We all have occasional integrity gaps. Effective leaders foresee them ahead of time and either reset expectations or acknowledge the gaps after the fact without giving unnecessary excuses. This establishes and maintains a foundation of trust because others are confident that you will consistently keep your commit-ments and honour your word.

Clarify expectations. Clarifying expecta-tions means that you assign by-when dates with clear direction on what you expect from the end product. If the results don’t meet your stated expectations, engage in an honest conversation (see the “talk straight” section below) so that others can learn from the situation. People per-form better – and conflict and disappoint-ment are minimized – when they know what is expected, whether it’s directions and deadlines for assignments, expected etiquette, communicating status of proj-ects to key stakeholders, or the milestones required to become a partner. You build trust with those around you when you are clear about your expectations so they can either commit to those expectations or reset them as discussed previously.

If you tend to assign work and then fail to set clear due dates or expectations –

or if you simply take the work back when it is not completed to your satisfaction or within the (unspoken) time frame you desire – you may actually be encouraging others to fail in their commitments. This can unfairly erode the trust you place in others and erodes the trust they place in you. In the absence of clear expectations, both parties make up their own, which almost always leads to disappointment and conflict.

Create transparency. Being transpar-ent means being willing to share the good and the bad about your firm and employee performance, being clear about what you will and will not commit to (individually and as a firm), and being upfront when things you have commit-ted to cannot occur. Younger generations expect to have all the cards on the table, and when information is not shared openly (such as the goals for the firm or challenges you may need to overcome), they may distrust you and/or your firm. Many employees who leave organiza-tions cite a lack of transparency, which led to distrust, as the reason they sought other employment.

Talk straight. Building trust requires the ability to be straight with oth-ers about your thoughts, perceptions and intentions, even when the truth is uncomfortable or difficult. Withholding information, beating around the bush, being “wishy-washy” or lying can damage your relationships in a way that may be irreparable. When you tell it like it is (with tact and sensitivity, of course!), you dem-onstrate respect, and your partners and team members can trust that what you say is what you mean and that the truth about how you “really feel” is not hidden from them. Being straight with others allows them to talk straight with you and is a major building block of a trust-filled organization.

Listen first. Trusting relationships require open communication and real listening skills. When you focus on the other per-son’s opinions, feelings, thoughts, ideas

The foundations of a Trust-filled Organization Nine key behaviours can help you build trust

By Krista remer

outlook 39

and objections without cutting them off or arguing with them, you build trust in the relationship and allow for more open sharing in the future. People need to feel heard to truly trust you. And you may be surprised by what you didn’t know if you listen first!

Right wrongs. If you offended someone or disappointed them with a missed commitment, it’s important to practice effective conflict manage-ment skills and have a conversation to clear the air. Start with an apology and say you’re sorry. Let them know how you will fix the problem, including your new commitment (then keep it!) or what you will change going forward. If another individual is righting a wrong with you, remember to choose the most positive or hopeful interpreta-tion of events and trust that the new commitment will stick. You may need to practise forgiveness and pardon them, too. This doesn’t mean that you’re con-doning the behaviour or “wrong,” but it is an important step in truly moving the relationship forward.

Practice accountability. Accountability is truly the foundation for trust. It means taking full responsibility for the things you own and not blaming circum-stances or others for a lack of results. For accountability to exist, the behav-iours described above must be in place. You (and others) can’t be accountable if you don’t know the expectations. Un-less you define ownership and identify measures of success, you won’t be able to hold each other accountable, which is why accountability often feels like

the “holy grail” – constantly sought but never achieved.

Accountability is also exhibited when you report the status of the actions you committed to and when you reset ex-pectations if you haven’t accomplished what you said you would. Identify-ing where you have integrity gaps in keeping your commitments is the first place to look to improve accountability. When you have personal integrity and accountability, you set a standard by which to hold others accountable, too, which facilitates trust-building in your professional relationships.

extend trust first. Of course, you must trust others to earn their trust in return. You can demonstrate this by setting assignments that challenge your teammates and providing latitude and decision-making authority to the own-ers of those assignments. You exhibit trust when you assign clear deadlines and expectations for projects, giving others the space to perform unless they ask for assistance – without constantly asking for status updates before the deadline. This “proves” that you trust others to fulfill their commitment, and if they do not, you can then have a straight conversation about the fallen commitment and together explore strategies for them to do better next time. Trust really does beget trust.

Just as with any important relation-ship in your life, your professional relationships deserve the same atten-tion to managing expectations, keeping commitments, acting with integrity, listening with intention, telling it like it is, and talking things through after a disagreement or problem. Consider where you and others in your organi-zation can improve in these specific leadership behaviours to build a solid foundation for trust.

Pass this article on to others in your firm and share your commitment to improve in one or two areas yourself. Then, pre-pare to reap the rewards of performing as a high-trust organization!

T-1 registration reminderCGAs who prepare individual T-1 tax returns, with or without schedules, charge a fee for this service are required to register this limited practice with the Association. To obtain a registration package, contact Sandra Domeikiene at [email protected].

fees and Insurance deadlines Invoices for Public Practice registration fees will be mailed on May 2, 2011 and the fees must be paid on or before July 1. Members who do not pay their reg-istration fees by July 1 will be charged an administration fee of $150. Renewal postcards for professional liability in-surance will be mailed (by AON Reed Stenhouse) in early June and renewal must be done on or before August 1, 2011. Members who fail to do so will be charged a separate administration fee of $150. If the registration fees and/or insurance premiums remain unpaid 30 days after their due date, the member is, without notice, deemed to have resigned from public practice unless written notice of extenuating circum-stances is received within 30 days from the original due date. As per Bylaw B114 (a), if member dues, payable on or before July 1, remain unpaid after July 31, the member is deemed to have resigned unless prior notice is received. Members who have resigned are automatically de-registered from public practice.

upcoming Speed Interview Night in vancouverTo register your firm for the next Public Practice Speed Interview Night in May, contact Anita Fortune at [email protected]. For job seekers, please visit CGAjobs.org.

New Website to Order Your CICA handbook To order the CICA Handbook, you should now visit www.castore.ca.

resources, courses and tools of the trade

practiceupdate

Krista remer is a consultant of ConvergenceCoaching, llC, a leadership and marketing consult-ing and coaching firm that specializes in helping accounting and it firms achieve success. learn more about the company at www.convergencecoaching.com.


currentassetsSOCIAl NETWOrkING AppSThe social media world is quickly getting so complex that you need apps for your apps to better organize, direct, filter and refine the non-stop flow of information. Here are a few innovative ways to better sort and manage your social media efforts.

WhatsApp MessengerThe WhatsApp Messenger is a cross-platform messaging app that gets around standard SMS (Short Messaging Service) fees, as it operates via a given user’s data plan. Available on iPhone, BlackBerry, Android and Nokia, it also features unlimited images, video and audio messages. whatsapp.com

ping.fmThis app is great for users of mul-tiple social media sites as it allows you to simultaneously update all of these sites at once. Best of

all, it features a straightforward layout and simple functionality. ping.fm

friendfeedThis app expands on one of the most popular features of Facebook. Basically, it allows you to start a discussion string on the topic of your choice, and then shows the commentary from friends, acquaintances and customers in real time. It also allows you to publish the feed directly to your website or blog. This is great for getting instant feedback on any subject. friendfeed.com

present.lyBilled as a “Constant Awareness Communications Tool,” this app offers a service that ‘s likely to become an increasing trend in coming years. It provides a range of microblog features for corporate use that allow a user to collaborate privately with colleagues, post status updates,

etc. Essentially, it works like a company-specific, internal-only Twitter and contains informa-tion within the office. In terms of increasing collaboration and communication between co-workers, this is an innovative new service.presently.com

BOOkS

The virtual handshakeThis book provides sensible advice on how to translate your traditional networking methods into an online environment. The book is full of tips on subjects such as relationship building, managing personal networks, and where to start in the world of social media. It’s informative without being alienating, and is written in a relaxed prose style that will comfortably inform those with minimal online experience.amazon.ca

GAdGETS

Calculator WatchThis device was pretty much the iPad of the 80s. When the Casio Calculator watch hit the market, it seemed like a revolutionary innovation. Wearing one today is both kitsch and practical. thinkgeek.com

portable uSB power SupplyDoes your cellphone always seem to run out of power at the most in-opportune moment? By attaching this tiny device to your house keys, that problem is solved. It’s small, reasonably priced and carries a charge for up to three months. It also works with other USB devices such as iPods and digital cameras. Now if only you could find your keys…thinkgeek.com

Sony Ericsson liveviewThis device works like a remote control for your phone. It’s wear-

By trevor hargreaves

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>If the gadgets in this issue don’t turn your head, you either dislike technology, or you’re from the future. This time around we’ve focused on social media apps and cutting-edge accessories for the smartphones that use them. We’ve also compared features on two new models in the quickly emerging tablet market.

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able, wireless and completely customizable with apps and personal data. LiveView allows you to send texts, listen to music and update your social media pages – all without removing the phone from your pocket.amazon.com

Tk-421 iphone Case with flip-Out keyboardOnce attached, this device creates a hybrid product that’s similar to mating a BlackBerry with an iPhone. The case features a flip-out keyboard that can be used for texts, emails, apps, etc. It also works in conjunction with the on-screen touch technology. For users attracted to the iPhone OS, but reluctant to give up their tactile BlackBerry keyboard, this is the perfect middle ground.thinkgeek.com

Telephoto iphone lensThis is basically a gadget for a gadget. As anyone with an iPhone 4 knows, the built-in cam-

era boasts a huge leap in qual-ity compared to the previous model. With better resolution and a built-in flash, it really is a decent digital camera. Accord-ingly, why not take advantage of these features and add a tele-photo lens? With an 8x zoom and mini-tripod, this is a pretty impressive little package for an extremely reasonable price. The system works as follows: a custom case attaches to your iPhone. The lens attaches to the case. The case attaches to the mini-tripod, and voila – Instant zoom. photojojo.com

SNAk facebook keyboardFor the frequent Facebook user this is a handy item. Equipped with 19 Facebook-specific keys, this device lets you effortlessly update your Facebook page and navigate your social network. Uploading photos, creating invites and accessing features has never been easier. socialkeyboards.com

Battle of the Tablets: Apple ipad 2 vs. Motorola xoomThe battle for tablet dominance is quickly heating up for Apple, which currently dominates the market with an estimated 78 per cent market share. That’s a sharp drop from the numbers of just a few months back. To stem the tide of competitors, Apple made several clearly tactical decisions with the release of the iPad 2. The device offers a series of additional features (improved battery life and camera, and a smaller size), yet they’ve kept the price point the same as the previous model. This equates to lower profit per model, but assures Apple’s dominance as a market leader. The iPad 2 has an impressive entry-level price of just $499. This low price point has proven to be a challenge with the competition.

The recently released Xoom by Motorola has great potential, but an inflated cost. It comes in about $70 higher than the com-parable upper-end iPad model at around $800. That said, it’s

worthy of consideration. Like the new iPad, it runs on a zippy dual-core processor, but comes with a 10.1” widescreen HD display that’s really well-suited to watching film and video online. Interestingly, the Xoom has an HDMI port that allows for easy A/V connectivity to a television. It’s the first tablet powered by the Android 3.0 OS (code-named Honeycomb), a platform specifi-cally designed for tablet use. It boasts a 2 MP webcam and 5 MP camera, with 720p HD video capture and playback capabil-ity. A major plus with the Xoom is that it will soon feature a downloadable upgrade to make it Flash compatible. That’s one major advantage over the iPad, which only supports HTML5. In short, this device is a strong competitor in a rapidly evolving market.

verdict: Wait a little longer to see how things shake out. The iPad 3 is rumoured to ship this fall and the market should be a little more clearly defined by then.

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Apple ipad2 $499.00 (entry)

Motorola xoom $800.00


snapshotsBudget lock-up richmond Chamber of Commerce Top left: CGA-BC Chair Bruce Hurst, FCGA, responds to questions from CBC Radio’s Jeff Davies in the company of First Vice-Chair Cindy Choi, CGA.

Bottom left: CGA-BC’s 2011 Budget Reaction Team (clock-wise from bottom, left): First Vice-Chair Cindy Choi, CGA; Director of Marketing and Commu-nications Edward Downing; Chair Bruce Hurst, FCGA; and CEO Gordon Ruth, FCGA.

Top right: Past President John Nagy, FCGA, (left) thanks the Honourable Colin Hansen, Minister of Finance, at the Richmond Chamber of Com-merce’s post-budget breakfast, co-sponsored by CGA-BC and Reid Hurst Nagy Inc.

Connecting with uBC’s Accounting StudentsOpposite, bottom right: Mohammed Mahabub, CGA, Chief Financial Officer for JYSK Canada, speaks with UBC Accounting students about the career opportuni-ties in accounting.

Top left: UBC Accounting Club President Theo Wong and UBC Diploma in Account-ing Program Club President Letty Au thank CGA-BC Chair Bruce Hurst, FCGA, after his presentation to more than 100 accounting students.

Bottom left: Paul Wu, CGA, Manager, Finance and Administration at the Canadian National Institute for the Blind (centre) offers some personal career advice to UBC students.

Right: Meyers Norris Penny LLP’s Susan Payment, CGA, discusses career opportu-nities in accounting with UBC DAP students.


partingshot

In each issue of Outlook, we profile a member or CGA student who is helping to build the CGA brand. This month we spoke with

CFO and VP of Business Development for the BC Innovation Council

By Trevor Hargreaves and Patrick Schryburt

lisa payne, Cga

What is the BC Innovation Council?BCIC is committed to making B.C. the best place to start and grow technology com-panies. Through targeted programs and initiatives, BCIC supports the develop-ment of entrepreneurs and the commercialization of technology in a variety of key sectors.

Our role is to ensure the creation of healthy start-ups that contribute to a strong and rapidly growing knowl-edge economy. As such, it’s essential that we grow small companies into larger ones that can provide high-value jobs, educate the talent pool, add credibility to the region, inspire the next generation of entrepreneurs and gener-ate tax revenue.

Can you briefly describe your role with the BC Innovation CouncilI’m the CFO and VP of Busi-ness Development. Admit-tedly, it makes for a rather diverse mandate. I work with entrepreneurs, industry, universities and government to develop and execute programs in support of tech entrepreneurs. I love helping entrepreneurs vet their ideas, launch new companies and grow.

What are the key factors that can help an economy, a business or any other organization drive innovation?The key factor is people. Without an excellent team,

even the greatest idea or technology can fail to launch. With the right people, anything is possible.

Most people think of technology when they hear the word ‘innova-tion.’ Is that a good characterization of what innovation means?Innovation is much broader then technology. It means finding creative new ways of doing things through renewal or changing existing processes. Technology is the practical application of sci-ence for physical and social solutions and is just one conduit for innovation.

how competitive is B.C. in today’s global knowledge economy? Are we well positioned for future growth and prosperity? This province is home to the most start-ups per capita in Canada. We have a strong talent pool, excellent post-secondary institutions and close proximity to the US and emerging markets. Today, B.C. has technology compa-nies in key sectors including biotech, clean energy, wire-less telecommunications, gaming, information and communication technolo-gies, and digital media.

The start-up community is actively supported by a net-work of industry associations that lobby; provide mentor-ing, training and coaching programs; and host network-ing events. In addition to all this, the provincial and

federal governments provide tax credits and assistance programs to support tech-nology R&D and investment.

do you feel these measures go far enough to really provide a competitive industry advantage? We have the opportunity to be well positioned for future growth and prosperity, but we must do more in some key areas. We need to devel-op programs that attract and encourage the brightest and most talented entrepreneurs on the planet to select B.C. as their new home to help us build the regional economy.

We need to get over our inferiority complex to other technology hotspots, such as the Silicon Valley, and con-centrate on being uniquely B.C. For example, our resource sector is one of our strengths and we could do more to help this sector lead the world through collabora-tion and active support from the technology sector.

Locally, it’s necessary to help foster new invest-ments, support our angel investment community and rebuild our venture capital firms.

We need to get beyond supporting research and development activity and focus more on supporting commercialization. We can help our technology com-panies grow by supporting their efforts to sell product. For example, we can import talent to help us develop

sales expertise. Currently, 98 per cent of B.C. companies have less than 50 employees and 82 per cent of these companies have fewer than five employees. Our chal-lenge is to find new ways to help our companies grow.

Finally, we need to look beyond our borders and view the world as our marketplace and community.

What are some of the more innovative or im-portant marketing and communications initia-tives that BCIC has imple-mented?BCIC has increased our use of social media to promote greater awareness of not only ourselves, but also the incredible companies and as-sociations that make up the tech industry in B.C. In addi-tion, we recently launched a bi-weekly report “Innovation in BC” in partnership with Techvibes to showcase the province’s successful start-ups and companies. Lastly, we host a series of industry events geared towards entre-preneurs.

does the Council use Twit-ter or facebook? Yes, we have a Twitter ac-count with 1,000 followers and counting (twitter.com/bcic), and we also have a Facebook page.

how does this help further your business objectives?Social media tools such as Twitter, our blog and Face-book (in collaboration with

traditional media and sup-port to tech events), ensure we reach and have an open forum with our audience. It helps us tell the story of how B.C. is a great place to start and grow technology companies. It’s also extreme-ly helpful in gaining direct insight as to what posts and news our fans are interested in, as well as gauging the effectiveness of our social media efforts.

What are the secrets to getting the most out of talented people?Push people out of their comfort zone, support them, let them be successful and help them grow.

What are the local/provincial/national/global issues that concern you the most in your business?Bringing relevance and access to funding. The chal-lenge is to fund the right things in the right amounts at the right time.

What has having a CGA designation meant for your career? My CGA designation was a key factor in providing a foundation for my career. In the early years, I learned the business fundamentals and tools that helped me become a better decision-maker as I gained experi-ence. Ultimately, my CGA designation helped to open the doors to a variety of new opportunities.

You have a rather interest-ing career background. Tell us about some of the previous places you’ve worked, industries you’ve been involved with and companies you’ve founded. Most of my career has been within the technology indus-try. My first job was with a cable and satellite company called Nexus Engineering who were later acquired by Scientific Atlanta. The most important thing I got from this experience were the relationships I developed with colleagues.

I have worked in several tech companies where my roles have alternated between CFO, COO, Business Develop-ment and President. I really enjoy the variety and chal-lenge as well as the exposure to new technologies. I worked for companies in different sec-tors such as mobile applica-tions, fibre optic networks and telecommunications, software applications, cancer research and biotech services.

A really interesting com-pany I worked for was Wave-makers Inc. At this company, I was surrounded by brilliant neuroscientists and physicists working on software that extracted voice from noise. Ultimately, this technology ended up in vehicles as hands-free technology.

Another interesting experi-ence was working in business development with Saudi Tele-com in Riyadh, Saudi Arabia, where only men typically do business.

My real passion is in launch-

ing new companies either myself or for others. My first company was Skana Publish-ing in the days when desktop publishing was new. My next start-up was a lab that serviced biotech companies and universities across North America. My latest start-up recently developed an iPhone application to help drinkers estimate their blood alcohol content as they drink.

rumour has it that sail-ing is one of your hob-bies. have long have you sailed? do you have your own boat? What are your certifications? Yes, I have sailed for years with my husband at the helm while I climbed up and down to take care of the kids. He wondered why I didn’t like sailing as much as he did. This November, I completed my pleasure craft and cruising licence, so now I look forward to taking over the helm.

do you have a personal mantra? With only one life to live, don’t be a passive passenger: seek new directions, reach high and dare to have it all.

favourite saying: Bad judgment leads to expe-rience and experience leads to good judgment.

What’s the secret to achieving good work/life balance?Is there a secret? My husband is the cornerstone of my work/life balance – ask him!

46 outlook

Total CGA-BC members at the time of its incorpora-tion in April 1951: 313CGA-BC members in February 2011:

10,069Visitors to CGA-BC’s web-site in 2010:

just over 1 million

Maximum number of characters Twitter allows its users for each tweet:

140Tweets required to send out the complete text of the King James Bible:

30,645

Portion of Canadians aged 35-69 who have an RRSP:

70%Portion of Canadians aged 18-34 who have one:

39%

Number of televisions in the United States:

240 millionNumber of those that are in bathrooms:

2 million

Amount raised in Febru-ary 2008 by Republican presidential candidate John McCain for his cam-paign through traditional fundraising activities:

$11 millionAmount raised that same month by Democratic candidate Barack Obama, who did not attend a single campaign fund-raiser and instead relied exclusively on online social networks:

$55 million

Number of cellphone subscribers in India:

545 millionNumber of India’s 1.2 billion people who have access to a toilet:

366 million

Total GDP growth in Canada, during the past decade:

19.7%Total GDP growth in China during the same period:

316%Canada’s global rank in terms of GDP per capita:

11China’s global rank in terms of GDP per capita:

93

Global rank of China in terms of tobacco leaf production:

1Number of smokers in China:

300 millionNumber of cigarettes consumed in China every second:

50,000Number of people in China who die due to smoking each day:

3,000

Number of years it took for the radio to achieve world-wide sales of 50 million:

38Number of years for the television:

13Number of years for the iPod:

3Number of years it took Facebook to achieve 50 million users: 2

Sources: CGA-BC; CIBC; United Nations University; International Monetary Fund; StatCan; Deutsche Bank; World Health Organization; Social Squared.

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