VISION
Dare to dream big
Dilshan Rodrigo
Over the past four years, Sri Lankan businesses have been hit hard by various cataclysmic events. As a banker, Dilshan Rodrigo has occupied a front row seat to witness the good, the bad and the ugly – organisations that adapted to become relevant for tomorrow and those that didn’t.
He says: “Despite the challenges, many companies survived and even thrived. Those that succeeded embraced assembly, manufacturing, import substitution and exports, leveraging digital to improve efficiency across the supply chain.”
While corporates may articulate broad visions, their success also depends on adaptability and agility in responding to evolving circumstances.
Rodrigo elaborates: “To succeed in today’s business environment, it is crucial for companies to establish clear vision statements that explain why they exist and how they add value to customers. Their vision statements should also be relevant to the present and future, telling the story of the organisation’s strategy.”
He believes that it is essential for corporate leaders to review vision statements regularly with their senior teams and inspire them to work towards meeting their goals – particularly in light of the unprecedented events that have taken place in Sri Lanka and around the world in recent years.
“When I visit customers around the country, I see inspiring examples of businesses adapting to change and succeeding beyond their expectations,” he says, adding: “Their examples should inspire others to follow suit.”
He continues: “Sri Lankan businesses should strive to transform this from an economy that imports virtually everything to a thriving production economy, and a value added exporter of products and services. With hard work and determination, Sri Lanka can achieve this vision.”
Rodrigo believes that events such as the pandemic and economic crisis have helped Sri Lankan corporates to dream big when it comes to their visions.
He explains: “Until the economic crisis took root, many companies took the easy route by importing known branded products and selling them locally or engaging in commodity exports. Not only did this discourage the creation of a production economy but it also undermined value added exports.”
“Unfortunately, our imports – which were fuelled by cheap credit – created unnecessary consumption and low value exports, and remittances from blue-collar workers and housemaids weakened our balance of payments,” he notes.
Rodrigo argues that Sri Lanka needs to reset much like Vietnam did to build a production economy – and “start producing what we import and move into value added exports.”
“We need to attract foreign direct investment (FDI) and encourage global companies to set up their manufacturing bases here,” he urges, explaining that “the growing prominence of India in global trade is an opportunity for us. This is also a critical area for SMEs, which have the capacity to tap into digital marketplaces like Kapruka, Alibaba, Amazon and eBay.”
He feels that the government needs to create a conducive environment for entrepreneurs “to flourish and engage closely with industrialists, to give them the necessary confidence to venture into manufacturing and even expand overseas.”
Rodrigo points out that “a few Sri Lankan companies serve as role models – Dilmah, Brandix and MAS to name a few. Given the right policy focus and encouragement, there will be many more!”
Perhaps the only stumbling block for a company to achieve its ambitious vision in the current climate could be the rapid brain drain.
“We need to convince talent to return with their added affluence, skills and experience to invest in entrepreneurial ventures in Sri Lanka – in R&D, tourism, value added agriculture, manufacturing, franchising and export oriented industries,” he enthuses.
In his concluding remarks, Rodrigo maintains that new industries must be created and with this, opportunities for professionals from all specialisations to contribute.
