Q: Is financial soundness an accurate gauge of corporate success, in your view?
An organisation’s financial performance is only one measure of its success.
It takes commitment and effort, and requires assessment of how the business is living up to its purpose and ability to make meaningful change. Corporate success is best measured by its acceptance by people, the development of staff and how the organisation has impacted the lives of stakeholders.
Another measure is the organisation’s resilience in the face of unexpected changes such as COVID-19.
Q: In what major ways has the COVID-19 pandemic impacted the financial performance of organisations?
COVID-19 has greatly impacted businesses – from drops in demand to the inability to conduct business, as well as effects to credit quality, supply chains and workforces. All this impacts financial performance.
However, there are organisations that have evolved to overcome these issues, and continue to conduct business and keep their supply chains moving. They are the ones that thrive in situations such as the COVID-19 pandemic and will be more resilient in the future.
As a national mobile service provider, we supply value added business offerings and connectivity solutions to support the corporate sector during troubled times such as the current crisis, to help keep businesses moving and maintain their contributions to the local economy.
Q: How can organisations look to ensure their financial health in the long run?
There are numerous ways in which organisation can ensure financial health.
Two of the most important aspects are acquisition and expansion. Acquiring new businesses and expanding into new markets not only ensure a vast and robust portfolio that will result in organisations’ ROIs improving and long term health but enable them to adapt to ever evolving market dynamics as well.
Furthermore, making data driven decisions, and investing in and expanding on core business values are also good means of ensuring financial health.
Q: Is financial soundness an accurate gauge of corporate success? Prime Group believes that financial health is a major factor for measuring corporate success. For the past 25 years, Prime Group has focussed on financial stability and soundness. Financial soundness refers to maintaining positive cash flow growth and a reasonable ROI, to ensure satisfied stakeholders and provide value for money to customers by increasing their wealth. Our financial stability has developed through competitive advantages in a sector faced with incomplete projects due to financial constraints.…
Q: How important is the area of data science in the context of innovation? We at Digital Mobility Solutions Lanka (PickMe) strongly believe that data science is what drives innovation and plays a vital role when it comes to being ahead. Data science is a major determinant of understanding what works best and what doesn’t for your brand. It is changing the way information is generated and made relevant, plays an important role in decision making within the organisation and assists to harness new opportunities…
Q: What does it mean to be nation-minded, in your view? As a corporate, to be conscious of the national need in keeping with a company’s business force is nation-mindedness. In such instances, Sri Lanka Insurance Corporation (SLIC) has taken a leading role in protecting the nation since the company’s inception – and this is integrated with the culture of the company. Q: Is nation-mindedness a priority for business establishments in the present context – if so, why? Yes, it is, because nation-mindedness is a…
Q: Is nation-mindedness a priority for business establishments in the present context? All socially conscious organisations have a responsibility to partner in the upliftment of the nation’s socio-economy to revive the country’s development agenda that’s challenged by the pandemic. As the world struggles to resurrect coherence in the aftermath of unprecedented economic turmoil and financial chaos, global health systems are being tested beyond capacity, and humanity per se is in crisis as disparity and inequalities widen. Naturally, value systems are attacked as a result. As…
Q: Do you believe that CSR will continue to be an important attribute given the ground realities? We have transitioned beyond CSR and embodied corporate sustainability, leveraging our resources to create long-term and lasting social value across the value chain. Corporate sustainability is a hallmark of Dialog’s culture and legacy, where serving our customers, communities and the country begins with our 3,000 strong team and exclusive network of partners, whose integrity and dedication are testimony to our success. As a key enabler of national…
Q: Would you agree that dynamism is an important concern vis-à-vis attracting talent? While dynamism plays a role in HR strategies, it is often an overlooked quality or feature in many respects. In terms of business strategy, dynamism is essential to being able to adapt to change, reduce expenses, push for sales and ensure progress especially in challenging times such as what we are currently facing. Another important aspect of dynamism is its ability to attract talent and this is important for organisations especially in…
Q: Is financial soundness an accurate gauge of corporate success, in your view? An organisation’s financial performance is only one measure of its success. It takes commitment and effort, and requires assessment of how the business is living up to its purpose and ability to make meaningful change. Corporate success is best measured by its acceptance by people, the development of staff and how the organisation has impacted the lives of stakeholders. Another measure is the organisation’s resilience in the face of unexpected changes such…
Q: How can management ingrain corporate culture in the workforce? Clearly and consistently sharing a company’s values and norms (e.g. during regular monthly town hall meetings) and maintaining open communication lines is key. As we have expanded into new sectors and geographies, this has enabled WSO2 to maintain a strong customer focus without impacting our culture. Moreover, our Human Resources team carefully assesses new hires, and has designed an onboarding and induction process that reinforces core values and practices. Q: Where does a company’s culture…
Q: Could you highlight some success stories where nation-mindedness paid dividends? To ease the burden of the pandemic on SME customers, we organised a series of programmes to help several plan and implement strategies for a post-COVID world. The bank was also the proud recipient of the first US$ 7.8 million green bond launched by Symbiotics – a leading Swiss based market access platform for impact investing. We intend to utilise this to support and promote local agriculture, with special emphasis on encouraging the use…
Q: What does it mean to be nation-minded, in your view? As the national carrier of Sri Lanka, nation-mindedness is an attribute that comes naturally to us. Since our inception, we have upheld in our service what it means to be authentically and inherently Sri Lankan. It goes beyond the cultural representation of artistic motifs, textures and flavours, and the gesture of ‘Ayubowan’ as a greeting. Throughout our global network, we position ourselves as the only airline that takes you directly to the paradise isle…
Q: What is your assessment of the level of corporate dynamism in Sri Lanka? Corporate dynamism is an essential process for productivity and growth. The world is constantly evolving, and the global need is to keep changing, adapting and adopting. COVID-19 pushed us out of comfort zones and forced the business world to adapt to survive. Local corporate dynamism is moderate but has the potential to reach greater heights. Q: Would you agree that dynamism is an important concern vis-à-vis attracting talent? Dynamism is important…
Q: Where does a company’s culture figure in the corporate respect equation? Culture describes how a company does business while reputation is how external stakeholders perceive it. Over a long period of time, these internal and external views will cross paths. If organisational culture causes employees to have a positive perception of the organisation, then their contribution will have a positive impact on the organisation’s relations with stakeholders, thereby making the organisation more attractive to them. This positive perception helps build corporate reputation. Compliance, ethics…
