Town of Cochrane Strategic Plan – Final Report October 2014
7.1.3 Build Capacity at the Board of Trade
Participants in the public consultations perceive the local business community as disorganized,
uninterested in improving current services, and offering poor customer service. They attribute part
of this to the existing structure and operation of the community’s Board of Trade (BOT).
A Board of Trade typically offers the following services to its members:80
• A united voice for the business community that advocates on its behalf for pro-business
policy at all levels of government.
• Business development training and information workshops (e.g. using social media for
business, improving customer service, capitalizing on new business funding programs,
understanding tax rebates for small business, etc.).
• Networking opportunities for members.
• Promotion of the importance of the local business community to quality of life in the town.
• Member services, e.g. discounts for members from other members.
• Assistance in connecting businesses with funding or loan opportunities.
• Keeping members informed on developments and trends that may impact them.
If it is to provide meaningful support for the local business community, the Cochrane BOT must
become more proactive and better regarded than it currently is. It should be known as a
responsive and innovative leader in the business community, offering meaningful services,
training, advocacy and access to networking opportunities.
We suggest a delegation of the Strategic Plan Steering Committee make a presentation of these
findings to the BOT’s Board of Directors. You may then wish to facilitate a discussion around how
the BOT could develop a new vision for its role in Cochrane, and what impact this could have on
the business community. It will be vital to fully engage the Board of Directors in this effort, as they
must be the ones to lead the process.
Strategies to build and sustain successful organizations include:
• Regular board governance training – e.g. roles, responsibilities, risk management, strategy,
best practices, recruitment, succession planning, managing legitimacy, public relations,
communications, staff-board relations, regulatory issues, policy.
• Strategic planning – including a stakeholder analysis, SWOT, priorities, action planning,
evaluation plans, implementation processes, etc.
• Aligning Board meeting agendas with strategic plan priorities.
• Regular board self-assessments – to identify areas for growth, improvement and
development at the individual and organizational levels.
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Pilgrim, Markus, and Ralf Meier. (1995). National Chambers of Commerce: A Primer on the Organization and Role of
Chamber Systems. Center for International Private Enterprise (CIPE).
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