Missed all the emailed and web site news items? Losing track of what's happening in TMA-SA?
This post represents the first monthly TMA-SA newsletter - that for August 2007.
The objective of the monthly newsletters is not only to summarise recent news and developments posted on the web site and Google Groups, but also to increase the transparency of the Board and Exco proceedings.
These newsletters will be published a week or so after each month's Board or Exco meeting, which normally takes place on the first Thursday of every month.
It's August already and our first quarterly newsletter is still in process. Why so late?
Well, we are still novices with regard to the technical aspects. The structure of our first draft was based on reporting per portfolio function, but our organisational structure is changing. And with all the delays, the content got stale.
This newsletter will be available as a glossy print publication, for public distribution, as well as in electronic format. What to expect? A secret still, but you can look forward to three insightful articles.
It has been statistically proven that turnaround professionals in Southern Africa enjoy reading, but are tardy to take a public stand!
The new turnaround forums section generates 3000 page views per week. That means a lot of reading takes place. However, hardly anybody has posted new topics or replied to posts from Exco!
We all have ideas and issues on our minds. The forums present the facility to air points of view, debate, suggest and comment on anything related to TMA-SA, the professional disciplines it represents, and the industries it operate in.
The forums represent a better medium for discussion and comments than the Google Groups, with the latter from now on being used as an email facility for announcements and distributing documents.
What topics can be found in the forums?
- There are open forums on the turnaround industry in South Africa, new business rescue legislation, and TMA-SA.
- For TMA-SA members only, there are closed TMA-SA forums - on "Exco needs your opinion" and a forum for the portfolio of each Executive Director. Learn what Exco members have in mind for TMA-SA, and say your say.
By participating in these forums, TMA-SA members will not only help improve knowledge of the corporate renewal, turnaround and business rescue industries in Southern Africa, but also help improve the effectiveness of managing TMA-SA.
Reaching out - lenders and investors function
TMA-SA is planning a social function with bankers and the private equity community in Johannesburg during the second half of 2006.
The objective is not only to introduce TMA-SA, but also to hear first hand from guests how TMA-SA can better serve them.
Reaching out - service provider function
The lenders and investors function could be followed by a similar function for service providers - consultants, turnaround practitioners, insolvency practitioners, lawyers, etc. early in 2006.
Reaching out to government
TMA-SA is planning to formally introduce TMA to government structures and public sector development funding institutions through meetings and presentation in the next few months.
Journal of Corporate Renewal to be distributed to TMA-SA members
When TMA-SA became a licensee, its members lost access to TMA's Journal of Corporate Renewal which formed part of the Chapter dispensation.
The good news is that TMA-SA will purchase and distribute to TMA-SA members the monthly copies of this prestigious publication.
Brochures aimed at different target markets are close to completion.
Date of next general meeting of members and election
The Board of Directors set the next general meeting of TMA-SA members for Thursday 8th February 2007. The date is in accordance with SA law that a meeting of members be held within 18 months of formation.
At the meeting, TMA-SA members will:
- Vote for the approval of amended Articles of Association and By-Laws (see below).
- Elect the 2007 Board of directors, inclusive of electing the 2007 Executive Directors.
Amended Articles of Association and By-Laws
The Board has started processing revised Articles of Association and By-Laws, for approval by members at the general meeting of members on 8th February 2007, which may be further affected by the Board's strategic planning workshop held on 6 and 7 October 2006.
The revision has been prompted by TMA-SA now an affiliate of TMA rather than a Chapter, allowing us more flexibility, and the need to cater more explicitly for BEE within our structures without past Chapter-related restrictions.
The amended documents will be distributed to members to preposition them and solicit comments as soon as they are completed.
New member registration procedure
The Board decided at its meeting on 3 August 2006 that new membership applications will not be automatically accepted anymore.
Instead, new applications will be vetted by the board within a week.
Only after that will a new member be notified of acceptance as a new member, and invoiced.
The new registration procedure has been posted on the web site.
Proposed new board composition and organisational structure
The new executive structure, discussed in a previous post, will be implemented as soon as the staffing thereof is finalised.
This newsletter was brought to you by Turnaround Management Association - Southern Africa - the forum for turnaround and corporate renewal professionals in Southern Africa, established for purposes of information exchange, knowledge capturing, networking, education and raising the standards of turnaround.