AITKEN SPENCE

Aitken Spence is widely recognised as a catalyst of the nation’s social economic progress. Engaging in pioneeringventures in key sectors of the economy – viz. tourism, maritime and logistics, energy, plantations, apparel and other services – takes the conglomerate a step closer towards achieving this goal. With more than 150 yearsof operations under its belt, the group is presently viewed as one of Sri Lanka’s most respected conglo­merates.A team comprising over 12,000 employees and its dominant presence due to engaging in diverseindustries in eight countries are enabling Aitken Spence to create sustainable value.

Q: In your assessment, what are the main attributes of Aitken Spence that reflect its corporate values?
A: Aitken Spence is built on the key values of reliability, honesty and trust. The brand promise reflects our efforts to be transparent, inspire confidence by continuously raising benchmarks across industries, and to be a reputed and sought after employer.

We’re guided by a legacy founded on the spirit of togetherness. We combine our skills and efforts to remain steadfast and stable, maintaining our leadership in industries in which we serve and remembering to create a positive impact whenever possible.

Q: How does Aitken Spence define a ‘respectable corporate entity’ – and how does the conglomerate fit this description?
A: We believe that the cornerstones of a respectable corporate entity are transparency, accountability, viability, integrity and team spirit. This is how the group operates and creates value for all stakeholders.

Respectable businesses conduct operations responsibly by balancing the triple bottom line – i.e. people, planet and profit. We believe that this is best achieved by managing the fourth ‘P’ in the marketing mix, which relates to processes.

In the new era of change, respect is determined by an organisation’s agility, adaptability and capacity to transform daunting challenges into positive changes while staying true to its values. This is an indicator of true resilience.

With the turmoil of the last couple of years, Aitken Spence has focussed on transforming its operations and business models to better serve customers and key stakeholders. Our strategy to realign, reinvent and relaunch has been adopted seamlessly by our motivated ‘Spensonians,’ thereby displaying their true grit.

Q: What role can corporates play in uplifting Sri Lanka’s image on the international stage at this juncture, in your view?
A: Aitken Spence is a group that has made bold investment decisions that have changed how key industries operate.

We were a pioneer in introducing Leadership in Energy and Environmental Design (LEED) certified architecture – a concept that was previously unavailable outside the US – and laid the foundation for a movement in sustainable tourism across Sri Lanka.

Aitken Spence was also one of the first Sri Lankan businesses to manage hotels overseas and venture into a public-private partnership abroad by gaining entry to the South Pacific for port operations management.

Furthermore, we responded to a crucial social and development need in the country despite the pandemic by launching Sri Lanka’s maiden waste-to-energy power plant.

Q: And how can businesses create long-term investment value for stakeholders?
A: Businesses must employ the right talent, and invest in research, innovation and technology.

They need to strengthen their resilience, and economic, social and environmental sustainability.

Implementing good governance frameworks and corporate strategies – and taking measures to reinforce monitoring, measurement and reporting – can help create long-term stakeholder value.

Q: In your opinion, how important are stakeholder perceptions – and why?
A: Balancing stakeholder interests is vital for the sustainable growth of any business. Stakeholder perceptions highlight unmet needs and societal trends. Identifying these perceptions can reveal potential opportunities for growth.

We are attuned to stakeholder views; and we’re honest in addressing their concerns. Our systematic processes help us better engage with them. We create mutually beneficial scenarios by understanding their perspectives and concerns.

Aitken Spence has navigated through times of complexity and change in a bid to bring endless possibilities to its stakeholders. The conglomerate continues to earn corporate respect by consistently delivering excellence, pushing boundariesby capitalising on new opportunities, realigning priorities, reinventingits portfolio of offerings and relaunching businesses.

 

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