What Do Leaders at Great Workplaces Do ?

Volume 13 | Issue 04 | December 2013

THE IMPORTANCE OF MANAGING CRISES AND PROTECTING YOUR CORPORATE REPUTATION p.15 WHAT DO SLID CEO FORUM: SLID NEWS AND WALKING THE LEADERS EVENTS TIGHTROPE p.10 AT GREAT p.08 WORKPLACES SLID HARVARD ENTREPRENEUR’S DO? p.16 MANAGEMENT FORUM: DARING TIPS p.19 TO BE DIFFERENT SLID DINNER p.03 THEATRE GROWTH MEMORIES FROM STRATEGIES: BROADWAY COMPOSITE

» p.11 MODEL p.17

SLID BOARD LEADERSHIP TRAINING p.02

SLID Entrepreneur’s Forum SLID ENTREPRENEUR’S FORUM: DARING TO BE DIFFERENT By Kinita Shenoy

The Panel from the left, Dulith Herath, Ashok Pathirage, Nisthar Cassim, Hanif Yusoof and Otara Gunewardene

he interactive panel discussion clothing from factories and selling it to my friends, my own car. I went to the States to pursue artificial featuring some of the country’s biggest and I started to love what I did. From that day to intelligence then started working for Microsoft. It entrepreneurial success stories was this, I love what I do and if I stopped loving it, I’d was fairly difficult to work alo-ne, without a bunch Torganized by The Sri Lanka Institute of Directors make a change. of managers to help out. in November this ye-ar. The event was created as Yusoof: My father was a businessman, who ran Q: What were your biggest a platform for aspiring start-ups and enterprisers the ODEL of the 60’s/70’s. In the 80s we went challenges? to be enlightened as to the genesis, process, through a financial crisis. I was doing my OLs and pitfalls and benefits of entrepreneurship. The Pathirage: In 6 months we built businesses that I wanted to help out. I started by assembling radios panel was moderated by Daily FT Editor Nisthar we could run in the long term. As we grew bigger, and typing documents in Fort. I failed miserably as Cassim, and featured Kapruka Fou-nder/CEO we needed funding from other sources such a fashion designer and a nightclub photographer. Dulith Herath, Softlogic Holdings Chairman/ as banks etc. it’s usually very difficult for young I’ve never had a professional job or been on the MD Ashok Pathirage, Expolan-ka Group CEO/ entrepreneurs to get funding from banks. We other side of the interview panel. Director Hanif Yusoof, and ODEL CEO/Founder didn’t reach 30 billion in a year. We started off as a Otara Gunewardene. Pathirage: I worked for a corporate for 9 years. I soft ware company and expanded into electronics. The ballroom of the Hilton Residencies was had joined when I was 18 and was fascinated by Yusoof: Normally people start businesses to make packed to capacity, and extra seats had to be how the corporate system worked. I realized then money. I started mine to get out of debt. When moved in to accommodate the large gathering. that I wanted to start something of my own. Using you have failures, you have your share of ridicule. The session was kicked off with Cassim presenting about Rs 1 million from my EPF, and together No matter what people said to me, I did not break a few video clips in relation to entrepreneurship with about 7 other friends of mine, we started relationships. Even now I treat my customers and getting the audience geared for what was to something up. We realized soon enough that we like celebrities. I was doing freelance ticketing come. had a lot of responsibility although we didn’t take back then, and got a lift from a family fri-end on a things too seriously. scooter. He offered me a salary Q: What drove you to be an Herath: I had it in my blood from my childhood. and capital to start ExpoLanka Freight, and that’s entrepreneur? The passion I had stems from my addiction to where it all started. It took me several years to settle all my debts. Gunewardene: For me it was a chance. I never technology. While kids my age were playing intended to be in business. I always wanted to cricket, I was in my room making a robot. And Gunewardene: I borrowed 50 dollars from my work with animals. It was in the interim of me to this day I still haven’t held a cricket bat!.. I mother and brother, and manag-ed to get some finding something to do that my father suggested started selling computers at 11 and had enough clothes on credit from manufacturers, so I I try business whilst I modeled. I started procuring money of my own by the time of my OLs to buy managed to start up without really being in debt.

SLID POWER PAGES [ 03 ] DECEMBER SLID Entrepreneur’s Forum

For me there were a few challenges - after a few Audience Q: Every successful long term. We need to of course be mindful of the years in Dickmans Road the shop burnt down person has a painful story. What was market. As long there is some control, we would and I lost everything. The main thing is not to get yours? continue that journey. disheartened Q: Dulith, are you looking at listing? Q: The current perception is you Herath: Kapruka was recently framed as the Herath: At the moment, I plan to hold on as much need contacts to get into business. e-commerce company involved in a big liquor racket in Sri Lanka. Despite the fact that the story as I can! I also have quite a few ideas I want to Back then, was it also an issue? was false, that sort of thing really puts you down. see implemented before I relinquish control. So as Yusoof: You need to know at least one or two It made me doubt everything for about 10 minutes of this moment, no. people in the beginning, but it really is about - should the company continue, do I want to stay Q: Assuming that you have a succe- delivery. in the country etc. But it’s just 10 minutes, after ssion plan, can the momentum be which you have to get back up and run again. Pathirage: I worked for a corporate initia-lly, so maintained? Especially with a profe- I had already a few contacts....about 9 years in Pathirage: The worst bit for me was probably ssional CEO? the sector, so obviously I had reached a certain seeing the initial share price after listing my Gunewardene: It is a challenge to bring people in level by then. But of cou-rse, people can give you company! and take over a large chunk of what I do because business and if you don’t deliver, you’ll lose them. Yusoof: Maybe buying the wrong company simply the business should not Q: There’s a tendency be so dependent on one person as it is toward emplo-yees leaving un-healthy for the business in the long organizations and taking clients term. with them. How has this aff- Yusoof: Previously, it was very centric ected you? on me. So I slowly gave sectors away Pathirage: today we are a larger company to other people. So I believe that other so it doesn’t really affect us. We also need from the excitement and creativity, I to know how to handle and protect our don’t want to be voiceless but noiseless. agencies to protect what we have. Pathirage: Healthcare for example isn’t Herath: I believe in the innovation that drove my personal handling anymore, so I’ve my business. Of course people cou-ld try to given it to professionals to handle. But copy or recreate our model but you need things like retail I keep to myself as they to keep moving, and stay one step ahead. are my dream areas so to speak. Imitations will not meet the standards of Herath: It’s far too early for me to worry innovation. about succession, and even delegation Q: Did you have any role models is quite difficult for me - it’s a weakness growing up? that I’m working on! because I liked the view from the window. Yusoof: There was this one book that ch-anged my life just after I got married - ‘The World’s Gunewardene: There is no one single painful Q: What would you like to be Greatest Salesman’. It advocated saying these experience - there were so many things over the remembered for? years that were painful at the time and made me 7 lines of affirmation in the morning and at night, Yusoof: Being instrumental in creating a hub out want to give up. But when I look back now, I’m and to that book I owe everything I am. of Sri Lanka. glad they happened. Because what you’ve learnt Pathirage: I don’t have any particular role models from your pain is so much more important that it’s Pathirage: Possibly the healthcare side, the as such, but of course there are great stories to not painful in the long term. feeling that we’ve been able to make a real emulate such as Sir Richa-rd Branson etc. Q: When you went public, you had difference there. Of course it is a private sector Gunewardene: Definitely, there were different different styles of doing business and enterprise and the aim is profits but we also people that have helped and influenced me. I did management. cover the procedures and healthcare for some learn things from various sources, taking parts individuals who cannot afford it and hold programs Yusoof : I’m a jack of all trades but I have all that applied to me. for the less fortunate. the masters. I’m impatient and I insist on having Q: If you could give just one key bit Q: We have the new wave of exe- things my way. Corporate governance has now cutive education after which many of advice for budding entrepreneurs, come in, and made large changes. But change is what would it be? people think they can start up a necessary and we make it work. business. What is your take on it? Gunewardene: Follow your dream reg-ardless of Pathirage: With us, from day one, our intention external pressure and skeptics. Pathirage: Of course it’s good to have a proper was to build a company that we hoped to one day Yusoof: Don’t listen to negative voices. Just start! education, but you can’t just create entrepreneurs, list. So we developed the company in that way, The main thing is to just get going. they have to be born with that drive. with those rules and methods. Pathirage: Stay positive regardless of comments Yusoof: With formal education, you learn so Gunewardene: It was a huge change for me, and dissuasion. much and forget so much. Education would have because our method of working be-fore listing Herath: You will always need a team to start going. possibly helped me make informed decisions, but was quite ad hoc. With a board, there needs to Without a team, you can’t take things forward. I can’t tell you what the other side of the coin is. be a lot of justification of expenses and ideas On that positive note, the panel discussion drew to and focus on the bottom line. So now there has Gunewardene: I actually don’t quite believe in it. a very successful close. The session was opened to be a balance of how the organization is run - I was terrible at studies throu-ghout school and to the floor for those attending to share ideas and between the balance sheet and creativity. For university, and it helped me not get structured question the panel as to any doubts and to ask for ODEL it seemed like it was the right time, a total into what you need to be as a person. I think I’m further advice on particular situations. a good example of someone who had a Biology benefit that helped grow the company and see the background and now I’m running a PLC. I think potential in the years ahead, including taking the The Power Evening was sponsored by Sampath especially in today’s world, there are lots of ways business international. Bank, the Print Media Sponsors the Daily FT and the Daily Mirror, the Electronic Media Sponsors in which you can educate yourself and switch Pathirage: Our job is market capitalization in the Yes FM, Legends FM and MTV Sports whilst the fields easily. Creative Partner was Bates Strategic Alliance. [ 04 ] DECEMBER 2013 SLID POWER PAGES

SLID CEO FORUM: SLID CEO FORUM: WALKING THE TIGHTROPE By Kinita Shenoy

The panel from the left Ravi Dias, Husein Esufally, Moderator Shamindra Kulamannage, Felicio Ferraz and Dr. Hans Wijayasuriya

he SLID CEO forum 2013, featur-ed a lively listed company, we need to balance the stake relationships in a timely manner.” panel discussion highlighting the delicate holders. The people and the method are both Ferraz said that it needed to be handled with care. Ttightrope that the CEO’s had to tread key.” Discussing the unique challen-ges of a An audience member posed a question to Ferraz by juggling multiple tasks whilst running their family company, Esufally asserted that making from a human point of view; “You highlight the companies, handling their boards, customers and the transition from management to ownership is risk factor to your consumers- but is that enough? employees and molding strategy and direction. one of the defining features of whether a family The product is harmful to the end consumer, The panel consisted of Ravi Dias - MD Commercial business can transcend a generation. He added irrespective of whether he chooses to use it or Bank, Husein Esufally - CEO Hemas Holdings, that ma-naging both the family and the company not.”The CTC head responded, “we are tell-ing the Felicio Ferraz - MD/CEO Ceylon Tobacco requires a great deal of understanding, and there consumers exactly what they are getting. There Company and Dr. Hans Wijayasuriya - CEO/ needs to be a separation between the role of a is risk involved, but there is also pleasure. “A life Director Dialog Axiata. Shamindra Kulamannage manager and owner. without risk would you call life?” There are health served as the moderator. Managing multiple stakeholders risks all over. Air pollution, for example, kills more Touching upon the diversity of the panel, Addressing Commercial Bank CEO, Ravi than 2.5million people a year.” Kulamannage asked the members to define their Dias, Kulamannage queried, “As part of such The moderator questioned the Hemas CEO, own unique leadership style. Ravi Dias said his a systemically important bank, you have to “discussing the transition underway, howdo approach involved a lot of interaction, adding that handle a variety of stakeholders. Which of these you prepare your succession plan?” Esufally “a willingness to agree to disagree makes team relationships is the most challenging?” Dias thoughtfully responded “Keeping talented people work easier. It is important to understand both responded that unlike the other panelists, his on our shores is a huge problem, as people look your role and that of the board.” company as a bank, was in a slightly different for bigger markets or better opportunities. Knowing Esufally said that his role has been predominantly situation, as depositors bring in far more than that you will lose good people is a reality you have entrepreneurial, initially with a lack of formal inves-tors. With over 3 million customers, it is to face.” Further questioned whether an external, structure or training. He relies on personal difficult to pinpoint which is the most challenging merit-chosen CEO would find it intimidating communication rather than emails and also like to although each is equally important and requires to have significant shareholders (group family get a first hand feel by walking around. a fair amount of focus.Dr. Wijayasuriya explained members) under him, Esufally replied that family Dr. Wijayasuriya attributed the rapid growth that “It is important to continuously review one’s members would be directing strategy. of Axiata to a mix of inclusive innovation and perception and understanding of one’s bu-siness, The CEO’s biggest challenge successful competitive strategy. Ferraz agreed, consumers, competitors and partners in order The conversation then turned to each of the adding that leadership was also about managing to react quickly to changes in the environment, CEO’s biggest challenge in their career span. various competing demands. He added “As a in redefining and restructuring one’s strategic Commercial Bank CEO Dias discussed the

[ 08 ] DECEMBER 2013 SLID POWER PAGES SLID CEO FORUM:

travails of being at the top. He explained that the Responding first, Dias mentioned bank’s success had come through processes, that failure should be taken “in keeping customers happy and transaction costs our stride, and see whether other down. Esufally agreed, adding that building world areas can compensate for one class businesses when you are a conglomerate is area’s loss and the ultimate goal a challenge. Weighing in to the discussion, Ferraz should be to win the war, even mentioned a previous boss in another region, who though battles may be lost.” was not used to direct distribution, and insisted on Dr. Wijayasuriya added that “it third-party distribution which would cut down 70% is important to acknowledge of employees. Ferraz described his dilemma, and failure for what it is and also to how he overcame it, by suggesting that almost hold yourself accountable for the 90% of the laid-off employees could move to the failure …. While in the sequel third party distributor, who would now be in need always attributing success to of their skills in their expanded operation. your team.” Dr. Wijeyasuriya in his capacity as the head of Ferraz looked at failure by Dialog Axiata, stated that the 2007/8 era was the comparing the differences in most difficult challenge he had encountered. “It cultural mindset and stated that was a perfect sto-rm. We had just completed an Sri Lankan and Indian leaders aggressive phase of expansion and diversification are afraid to address failures in-cluding three acquisitions. Starting at a 10 whereas US leaders publicly billion profit in 2006 and 2007, we swung to a 9 discussed them almost as a billion loss in 2009, a major shock to the system mark of pride of what they which called for the reengineering of the business had overcome. He also stated at multiple levels. Kulamannage continued; “Both that people learn more from Dialog and Commercial Bank have been voted at failure than success. Esufally the top of their game. How do you sustain your concurred, saying “No failures lives, and the impact they have on each other. performance and keep the others at bay? What is means the person has taken no risks. And risk is Dias responded that people need to switch off, your competitive advantage?” necessary in business.” even though it may not always be practically Dias responded stating “We have to ke-ep Handling the CEO-employee relationship possible. Esufally suggested sports as a great meeting the customers’ demands, esp-ecially The panel moved on to discuss the role that the way to unwind and de-stress. Dr. Wijesuriya took when standards keep improving. The service employees’ differing viewpoints played in the a more theoretical point of view, advocating the needs to always be at the top, while we keep our CEO’s final decision. Esufally answered first, “You differentiation between stretch and stress. Stretch costs down. In this way, we have arguably one of always have to take other people’s viewpoints into is working harder……whereas stress is mental the best cost income ratios in the business. Dr. account, but as a CEO you have to make the final pressure….And the key is to delegate to reduce Wijaya-suriya agreed on some points, adding “I decision.” Ferraz simply stated “you must treat stretch and create space…. Hence reducing would put it down to focus on key success criteria others like you would like to be treated - be the stress as well.” and a deep understanding of the consumer.” boss you would want to have.” “Do you consider yourselves entrepreneurs whilst Walking the tightrope Gauging short-term success “Does the role of the CEO get lonely at the top?” The moderator then brought in the concept of facing a new project?” asked Kulamannage. Dr. questioned the moderator, top which the panel looking at success in the short-term. How can a Wijayasuriya answered that an entrepreneur lightheartedly replied that their jobs weren’t so firm’s success be gauged on a daily/weekly basis? was generally defin-ed by an innate appetite for bad. Dr. Wijesuriya wrapp-ed up the panelist’s Esufally answered “You can differentiate lead risk and the ability to create something big from session by stating that “walking the tightrope indicators from lag indicators. Most CEO’s have scratch. Esufally said that from his perspective, it is by definition a balancing act-ranging from one or two aspects- mostly gut instincts that tell is important to encourage and manage the spirit decision making to managing through a balanced them how things are going on a daily basis.” of entrepreneurship, adding that it is the job of scorecard and keeping away from extreme actions Dias responded differently stating that “….timely the board to put a few shackles on. Ferraz added, and positions.” remedial action could be taken by monitoring the “We try to imbibe the entrepreneurial spirit in the The Forum was sponsored by Senok Automobiles, progress on a daily basis.” business, and give employees the ability to carry Ceylon Pencil Company, Chatham Luxury In terms of the CTC, Ferraz responded that they out their enterprising inclinations as much as Watches, IronOne Tech-nologies, whilst Yes FM, do track volumes, cash flow, Global brands and possible. Legends FM and MTV sports joined hand with profit which are checked monthly and every The elusive work-life balance SLID as the ‘Official Media Partners.’ quarter. Ferraz added that it is not only volume but An audience member questioned the panel as profit, and whenever there are direct distributions, to how they managed to balance their incredibly they check the daily sales. stressful role as a CEO and their personal Building the dynamics of a good team The discussion moved along to human resources; “How do you build or choose a good team?” Dias replied that it’s irrelevant who the CEO is as long as the team is great. Dr. Wijayasuriya elaborated that “Diversity is the key for success.” Esufally discussed the importance of goal making and setting long term goals and helping each individual staff member acquire the knowledge and expertise via training etc. Agreeing with Dias’ point Ferraz added “I don’t think the CEO is the most important- he is just the biggest facilitator. The biggest role is the bottom of the pyramid….” The importance of failure Kulamannage then veered the discussion to what a CEO’s approach to failure should be.

SLID POWER PAGES [ 09 ] DECEMBER SLID NEWS

SLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEW EWS SLID NEWS SLID NEWS SLID NEWSEWWS SLIDSLS ID NEWSNEWS SLIDSLS ID NEWSNEWWS SLIDSLS ID NEWSNEWS SLIDSLS ID NENEWW SLIDSL N Why SLID? ID NEWS SLID NEWS SLID NEWS SLIIDD NEWWS SLSLIIDD NEEWS SLS IDD NEEWWS SLID NEWS SLLIID NEWEW SLI NEWSSLID NEWS SLID NEWS SLID NEEWS SLSLID NEWWS SLSLID NEEWS SLSLIDD NEWS SLS IDD NEWW SSLLID N ■ Network: Regular events allow Members to SLID NEWS SLID NEWS SLID NEWS SLSLIID NEWEWS SSLLIDID NEEWWS SLIDD NEEWWS SSLIDD NEWWS SLS IDD NEW network with the SLID fraternity and other senior EWSSLID NEWS SLID NEWS SLID NEEWWS SLIDD NEWWS SLLID NEWWS SSLIDD NEWS SLLIDD NEW SSLID NE level professionals from a wide spectrum of SLID NEWS SLI ID NEWSSLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEWS SLID NEW organizations. NEWSSLID NEWS SLID NEWS SLID NEWSNEWS SLIDSLID NEWSNEWS SLIDSLID NEWSNEWS SLIDSLID NEWSNEWS SLIDSLID NENEWW SLIDSL N ■ Medium of knowledge: SLID events are renowned for the high profile speakers delivering 14. Mr. Parakrama Bandara Jayatissa, Mid time critical information. “One - 2 - One Membership land Retreads (Pvt) Ltd 15. Mr. Saman Chandima Karunanayake, ■ Advisory body: The Technical Advisory Campaign” Committee stands ready to assist Memb-ers with We thank all those Members who respon-ded to The Paint Shop Panadura (Pvt) Ltd business and technical queries. our request to help grow our Mem-bership with the 16. Mr. Ali Ahlam Nawaz, Alliance Finance “One-2-One Membership campaign.” PLC ■ Be Heard: Represent your views as a united front on existing and proposed policy, codes, legal We intend to continue our campaign to achieve 17. Mr. Jayantha Atul Panabokke, Ma-haweli and regulatory aspects related to boards and our target of 100 new Members for this year. We Reach Hotels PLC directors, to government and statutory bodies. urge you to encourage your friends and colleagues 18. Ms. Anitra Krishien Charindri Perera, to join SLID and connect with Sri Lanka’s largest Alethea International School ■ Stay Current: The Quarterly SLID Maga- zine, Power Pages and the disseminated community of business leaders. There is much to 19. Mr. Charaka Prasanga Perera, Stafford information on contemporary topics relevant to learn from the knowledge and experience of your Motor Co. (Pvt) Ltd directors keep you informed. fellow peers, and to expand your corporate and 20. Mr. Rusi Pestonjee, Abans Ltd. Keep Your Edge: Accelerate your professional professional reach at SLID. 21. Mr. Suresh Rajendra, Asian Hotels and 21. development with SLID’s range of educational Welcome to our new Members Properties PLC services, including seminars, conferences, We warmly welcome the following new members 22. Mr. Sunimal Senanayake, John Keells 21 workshops, e-enabled learning and publications, who joined the SLID in the last quarter this year. Hotels PLC transforming you to a dynamic business leader. We look forward to your participation at our 23. Mr. Panduka Weerasinghe, Browns Real For more information simply log on to www.slid.lk monthly programmes. Estate (Pvt) Ltd or call us on 2301646 - 8. 1. Mr. Hemantha Naomal Abeyese-kere, 24. Ms. Kalindi Tania Weerasooriya, Resou- Dynamic AV Technologies (Pvt) Ltd rces Development Consultants (Pvt) Ltd 2. Mr. Felician Sanjeeva Abeygoonewar- 25. Mr. Kamal Jayantha Yatawara, The Fi dena, Mountain Hawk Express (Pvt) Ltd nance Company PLC 3. Mr. Channa Prasad Abeywickrema Gu Sponsorship opportunities at SLID events nasekera, South Asia Gateway Terminals Corporates are welcome to sponsor the SLID 4. Mr. Terence Sittampalam Arulanandan, events organized through the year. Finlay Insurance Brokers (Pvt) Ltd. A copy of our Sponsorship Polices laying out the 5. Mr. Bathiya Bulumulla, Elpitiya Planta- benefits your organization would re-ceive for the POWER PAGES tions PLC different sponsorship packages are available on 6. Mr. Rajitha Shirendra Cooke, Suren the SLID website www.slid.lk or you may call Publication of the Sri Lanka Cooke Agencies (Pvt) Ltd the SLID Secretariat on 2301646/8 for more Institute of Directors (SLID) 7. Mr. Sheran Cooke, Suren Cooke Agencies information. Volume 13 | Issue 04 | December 2013 (Pvt) Ltd Upcoming SLID events: 8. Mr. Savantha Rishard Sproule De Saram, ■ 30th January 2014 - Chairmen Forum at Editor D L & F De Saram the Ivy Room, Cinnamon Grand, Colombo A.R. Rasiah 9. Mr. Millan Christopher De Silva, Milcris from 5-7pm - Registrations & refreshments (Pvt) Ltd from 4.30pm. CEO 10. Mr. Nishantha De Silva Mohotti, Finlay ■ 16th February 2014 - SLID takes Governance Lilani Perera Rentokil Ceylon (Pvt) Ltd to Jaffna. 11. 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[ 10 ] DECEMBER 2013 SLID POWER PAGES SLID DINNER THEATRE SLID DINNER THEATRE : MEMORIES FROM BROADWAY A SPLENDID PERFORMANCE t was a tremendous success! The Sri Lanka The funds received from the dinner theatre will be similar program in Jaffna early next year. Institute of Directors (SLID) staged a Dinner utilized for SLID’s endeavor in taking the message ITheatre recently at the Kingsbury hotel, which of Corporate Governa-nce to the provinces. The The Principal Sponsor of the evening was the was attended by the crème de la crème of the Institute which was set up in 2000 as a forum to IWS Holdings Group, a conglomerate which corporate sector who were kept spell bou-nd to serve the corporate and professional development consists of the official impor-ters and distributers an evening of grand entertainment. Veering away needs of Company Directors is today re-garded of the Porsche and Jaguar. The Gold Sponsor from the usual panel discussions, and seminars as the authoritative focal point on boardroom was Citibank whilst Nations Trust Bank American etc “Memories from Broadway” was an elegant governance in Sri Lanka. It has a diverse Ex-press Cards and Havelock City were the evening of mus-ic, dance and cocktails. membership of 550 professionals and directors Silver and Bronze Sponsors respectively. The from blue chips, quoted and unquoted private Commercial Bank of Ceylon also joined in as a While the six course sit down dinner took place, companies, family businesses and entrepreneurial sponsor of the evening. Partnering SLID further the diners were treated to a series of dazzling ventures. It organizes many programs focusing in this endeavor were Bates Strategic Alliance as performances by the Workshop Players headed primarily on the topic of Boardroom Steward ship. the Creative Partner, DUC Technologies as the by theatre veteran Jerome L. De Silva. The group These programs are held on a month ly basis Technology Partner, Coca Cola as the Beverage known for their acc-laimed performances of mainly for the corporate fraternity of Colombo. Part-ner and Kingsbury as the Hospitality Part-ner. Broadway kept the audience glued to their seats However with the growing dis-parity between the YES FM, Legends FM and MTV Sports were the with ex-cerpts from popular hits such as Evita, corporates in the Wes-tern province as opposed Media Partners. Les Miserables, Cats, Lion King, Oliver, the So- to the others SLID has begun to expand its target und of Music and Jesus Christ Superstar. Jerome group by organizing seminars on ‘Conducting The dinner theatre was coordinated by ‘Magical himself delivered a stunning solo performance of Business Responsibly’ in other provinces, Moments Event Company’ which did an excellent Edelweiss which had the audience joining in lustily. totally free of charge. Over the last three years task of ensuring the event ran with clockwork The event was compeered by none other than the Institute has organized six such seminars precision. Arun Dias Bandaranaike who handled the in Kandy, Ratnapura, Trinco malee, Beliatta, proceedings expertly. Killinochchi and Gampaha. It hopes to conduct a

Master of the house

SLID POWER PAGES [ 11 ] DECEMBER SLID DINNER THEATRE

Mr. & Mrs. Ronnie Peiris Mr. & Mrs. Abbas Esufally Mr. & Mrs. Deva Rodrigo MEMORIES FROM BROADWAY

SLID Chairman Pravir Samarasinghe Aroshi Perera, Lilani Perera & Shiromal Cooray [ 12 ] DECEMBER 2013 SLID POWER PAGES SLID DINNER THEATRE

German Ambassador Dr. Morhard & Mrs Morhard Mr. & Mrs. Asgi Akberally Mr. & Mrs. Harsha Cabral

MEMORIES FROM BROADWAY

Edelweiss 1

Rohini Nanayakkara, Arthur Senanayake & Sanjiv Gardiner Prakash Schaffter & A. R. Rasiah

SLID POWER PAGES [ 13 ] DECEMBER SLID DINNER THEATRE

Mr. & Mrs. Mahen Dayananda, Mr. & Mrs. Chrisantha Perera and guests Mr. & Mrs. Hiran Cooray

Arun Dias Bandaranaike

Mr. & Mrs Sujeewa Rajapakse

Mr. & Mrs. Ravi Dias Mr. & Mrs. Felicio Ferraz Lakshman & Dhara Wijayatilake

[ 14 ] DECEMBER 2013 SLID POWER PAGES CORPORATE REPUTATION MANAGING CRISES AND PROTECTING YOUR CORPORATE REPUTATION

ri Lankan companies have long are today required to comply with good ethical, been complacent in recognizing their social and environmental practices, and lapses in The writer, Nimal vulnerability to a crisis and have thus any of these areas leave companies vulnerable. Gunewardena FCIM MCIPR, Sremained unprepared to deal with such an Organizational cha-nges, unaddressed and is Chairman & CEO of eventuality, ending up handling it poorly when contentious issues, as well as unforeseen events Bates Stra-tegic Alliance it happens, due to lack of preparedness, have the potential for turning into crises. and Strategic Alliance professional resources, experience and skills. PR, exclusive affiliate of The result is damage to the company’s reputation To avoid the detriment that crises brings, and future operations. We have seen a spate companies may seek to put in place a crisis Burson-Marsteller, a leading of such incidents locally in recent times, where preparedness programme which assesses and global PR network. He is a unaddressed issues and badly handled crises addresses risk factors and also assembles the member of SLID. have blown up into fiascos. resources that would be needed in an unforeseen or adverse eventuality. Such resources include Recognizing that risk is a fact of doing business, a trained internal operations team and company and that no company is immune from product spokesperson as well as a professional or service failure is a start. Recognizing that consultancy which can provide the training and the company’s reputation is its most vital asset, expertise necessary and be there to support far beyond the bricks and mortar ones, and and deal with the media and other affected being proactive to safeguard and nurture it, stakeholders. is the complement. Corporate reputations are increasingly vulnerable in today’s world due to a The more enlightened companies would take number of developments. further steps to build an ongoing corporate public relations capability, using both internal and With the advent of active regulatory bodies and an external resources, which would enact a proactive alert and investigative business media, companies stakeholder relations program-me with vital and what they do - right and wrong - are constantly groups including the media. under the microscope and make the news. This may be prodded by zealous activists, disgruntled Safeguarding the corporate reputation and customers, concerned local communities or warding off harm to company operations is best even aggressive competitors, who may make life achieved through a sustained, strategic public difficult, unless the company has taken steps to relations programme and a crisis preparedness deal with such gro-ups, which the company should programme with inve-stment in high-calibre recognize as de facto stakeholders. Companies internal and external resources. By Nimal Gunewardena

SLID POWER PAGES [ 15 ] DECEMBER LEADERSHIP WHAT DO LEADERS AT GREAT WORKPLACES DO ?

like commitment to walk the talk What stands out about the leaders in great workplaces is their ability to seek out all reaso- nable questions and give a straight answer. HCL Technologies based in India has more than 80,000 employees. The annual 360 degree for their CEO Vineet Nayar (Vineet recently moved to a new role within the Group heading a social Foundation) and his managers is done by all employees. Thousands of employees opt to give Vineet feedback. Nayar puts his report on the intranet. In fact, you will probably get his 360 reports if you search online! 5. Demonstrated caring Leaders at great workplaces take tough business decisions while constantly demonstrating their respect for their people. It is not that Google and Intel has not let go of people during downturns. It is how they do it that makes the difference. ecently I was invited to address a group of able CEOs who do not have to build the culture 6. Involving people managers on building a great workplace on their personal brand. What characterises some 99X is a company in Sri Lanka whose annual culture. Led by their CEO they paid of these leaders who may not be media darlings objectives are run by Initiatives owners (anyone Rrapt attention to what I had to say. “You all know but who have a track record of creating great can volunteer) where they have total freedom to who your CEO is. Do you know that you have a workplaces which are also outstanding sustainable decide how they need to run the initiative and Deputy CEO too?” I asked. They were surprised. businesses? We have studied thousands of report directly to the CEO. The company has no It was the first time they were hearing about this workplaces and some of the characteristics that team leaders and is completely managed by self- Deputy CEO. “Unlike your CEO who can only be stand out are: managed teams. IFS in Sri Lanka have not found present in one place the deputy CEO has no such 1. An employee is as important the need to have a HR function; their managers limitations. The deputy CEO takes over whenever as a customer - are passionate about their people. the CEO is not present in the room.” “Who is this When Google founders sat do-wn to write down deputy CEO,” asked one manager. “His name is 7. Willingness to have fun their core values the first value that came to them Culture,” I replied. Last but not the least these leaders do not is “We want to work with great people.” Everything “Culture takes over when the CEO leaves the take everything seriously all the time, least of else is a derivative of that. Even an “average” room,” is one of my favourite quotes from an HBR all themselves. As Jeff Bezos the founder of employee is important for these leaders, just as blog by Frances Frei and Anne Morriss. Amazon.com (and now the owner of Washington an “average” customer is. “I feel like an equal,” Most of us know that Larry Page is the CEO of Post) says, “Work hard, have fun and make is what their employees say, re-gardless of their Google. Who is the CEO of Apple after Steve history.” Achieving two out of three is not an position in the organization. Jobs? Some of us will recall it is Timothy D. Cook. option! Google and Apple are two of the most successful 2. Willingness to share wealth To sum up, leaders at best workplaces treat corporations of this century. The first features in All employees in Google and Intel are entitled for every interaction as an opportunity to build trust - our list of best workplaces, the second does not. stock options, as are employees of Mindtree and internally with employees and externally with other Let me test your knowledge of CEOs further. HDFC. In a recent Best Work places Conference stakeholders. Who is the global CEO of Johnson and Johnson Kishore Musule, foun-der of Classic Stripes and American Express? Chances are you will considered his willingness to share wealth as one strain to remember. Why? Is it because they of the key reasons for the unique culture of this Prasenjit Bhattacharya is the CEO are less successful? On the contrary both global leader in automotive graphics. of Great Place to Work® Institute feature prominently in Jim Collins’ “Built to Last” 3. Mind set of humility and India and a Director at Great Place - an international best seller that features only gratitude to Work® Institute, Sri Lanka. companies that have successfully delivered Jim Collins defines these “Level 5” leaders as Views expressed are personal. You consistent business results over long periods of those who will create superb results but shun can post your comments and join time (more than 60 years). What is the difference public adulation, and are never boas-tful. They the discussion in Prasenjit’s blog between an organization which is built to be are described as modest. An example of such a http://inkfromprasenjit.wordpress. successful for a very long time, as opposed to leader who epitomized humility is David Packard, com/. some who are very successful for some time? the co-founder of Hewlett-Packard, who, in Jim Prasenjit can also be contacted at Culture becomes the CEO in these organizations! Collins’ prasenjit.bhattacharya@ Johnson and Johnson have institutionalised their words, defined himself as a HP man first and a greatplacetowork.com culture in the form of their Credo and AmEx calls CEO second. their values the Blue Box values. They are led by 4. Self-awareness and a rock

[ 16 ] DECEMBER 2013 SLID POWER PAGES GROWTH STRATEGIES GROWTH STRATEGIES THE COMPOSITE MODEL are hitherto not purchased. The SBU that sells a refrigerator can also try to sell a TV or other white goods it has to that same customer if there is a need for such. Simi-larly, the company that sells a bar of toilet soap can sell its shampoo to the same customer and achieve customer growth. By doing so we have the opportunity to grow current markets. New Market Development. The SBU can target markets it is not currently supplying, such as a new geographical area within its national boundaries or target markets over seas, outside its national boundaries. In a market extension strategy it can also target market segments or niche markets its currently not supplying. An MNC that marketed a baby shampoo extended it to the dads, implying ‘if it is good for baby it is good for dad as well’; this is a segment extension. Their IMC showed a dad and kid using the same shampoo together. INTERGRATIVE GROWTH FOR EXISTING BUSINESS UNITS Dr. Ranjan Madanayake, DBA, CPM, FSPMgt, FSBP, MCInstM, RPM, Sales and profits of a business can be increased MMA, MNZIM, MIM (SL), MSLIM, FCPM. Author Strategic Marketing through vertical or horizontal integration (Kotler et Plan - The 12 ‘P’ Model, Sri Lanka. Author PCM Course Book, Sri al 2012). They are: Lanka Institute of Marketing. Co-author The Marketing Collectibles, New Zealand & Malaysia. Co-author Marketing Skills in Management, • Forward Integration • Backward Integration India. Marketing and Management Consultant • Horizontal Integration eautiful synchronized music doesn’t EXISTING BUSINESS UNITS emanate from a single instrument but This is an ambitious strategy where the company Forward Integration. a collection of them; wind instruments, or its business units determine that the way The company can take over a function in the value B chain that may now be handled by marketing percussion, strings are some of them. Business forward to grow is through intensive growth. The strategies are also similar, like the individual components of intensive growth are: intermediaries, such as distributors, franchisees, wholesalers and retailers etc. Singer in Sri Lanka instruments, and wh-en they are brought together, • Market Penetration does not have any intermediaries as was done they become robust and create competitive • Growing Current Markets before, they have their own Showrooms Island advantage and help achieve business and • New Market Development organisational goals. wide and market their household and other white Every company would have the desire to grow if goods direct there is an opportunity. Depen-ding on a single to their customers. This also augurs well to business unit or fewer products may expose a implement and control their installment payment company to grea-ter risk of competitive pressure. plans. Hence, growth is a desirable endeavour for Backward Integration. busin-ess or organisational sustenance. Different On the contrary, company can take over a function authors at different times have proposed and in the value chain that is currently handled by a published different growth strategies and they supplier. MAS Group that produces linger-ie are like parts of music or a painting. The attempt Market Penetration. for Victoria’s Secret stopped outsourcing and of this unique model is to bring them together as As asserted by Igor Ansoff (1957) a company can produces several components requir-ed for a composite model that would provide the total grow by selling more of its current products to the the end product themselves through their own melody or the complete painting. present markets. This means that the company subsidiaries. The money stays wi-thin the Group, must sell its present products to more people brings additional growth and it is an assurance GROWTH STRATEGIES GRID that they can get these important components just The growth strategies composite model that within that target market. Let us say we are selling in time (JIT). embodies different strategies is as follows: Malt biscuits to 27% of teen-agers and young Horizontal Integration. The many references that are available, points adults who are our target market, the attempt must Acquisitions, Mergers and Strategic Alliances to the above four important strategic directives in be to enhance that to 30% or 35% as appropriate. could render growth. Singer in Sri Lanka acquired determining Growth Strategi-es for Business Units another famous company, which manufactured in large organisations or even smaller ones. Each Growing Current Markets. a popular brand of refrigerators. They have now of the four above is described below. This means making present users to buy more of the present products of the business, which used that competitive ad-vantage to launch INTENSIVE GROWTH FOR additional flanker lines through that acquisition.

SLID POWER PAGES [ 17 ] DECEMBER GROWTH STRATEGIES

Many companies in the recent past merged combination of Prebio 3, Cal-cium, Iron, Essential Horizontal Diversification. with others to create competitive advantage for Fatty Acids and other nutrients. This improvement In this option the company will setup a new themselves and stay ahead of competition. Si- and enhancement meets every mother’s need business un-it to produce a technically unrelated milarly, companies have negotiated strategic of a su-perior growing-up milk that will support product but appeal to the current market. We can alliances with other companies to strengthen their her growing child’s nutritional needs. This im- take the above example of the company that is competitive position. provement enhanced the quality and therefore producing sterilized dairy milk and RTD flavoured INNOVATIVE GROWTH FOR the image of the brand significantly. dairy milk drinks and set up a new business unit EXISTING BUSINESS UNITS Re-positioning Existing Products. to produce different varieties cheese such as This can change the destiny of a brand. In Sri Cheddar, Slices, Blocks etc., using dairy milk as Innovative Growth in an SBU is about how it Lanka Horlicks Malted Milk was positioned as its main raw material. can develop new initiatives for its current cliental a convalescent’s drink whilst Nestomalt, which through its current business unit. They are: Conglomerate Diversification. was also a malted milk, suffered the same fate. This is an opportunity for the company to look at

Therefore, Nestle chose to re-position Nestomalt a business unit that uses no similar technology, • New Product Development and Line as an energy drink kno-wing well that it provides product or market and diversify into a totally Extensions high energy and attracted a huge following of unrelated business. Taking the sa-me example of • Product Improvement or Enhance customers. the dairy farm, it can setup a good tourist hotel in ments the vast extent of green fields that cattle graze and • Re-positioning Existing Products DIVERSIFICATION GROWTH provide a salubrious experience to the visitors. New Product Development and Line BY SETTING UP NEW Growth is necessary for a company; th-erefore, Ex-tensions. BUSINESS UNITS growth strategies are crucial. How ever, the right Unilever who marketed Fair & Lovely fairness Diversifying from a company’s existing business growth strategies must be pursued where there is cream for women found an opportunity when units to other areas is another option for growth. market growth and industry attractiveness. their market insights pesonnel reported that They are: the husbands and brothers of the female users • Concentric Diversification dipping into their Fair & Lovely fairness cream. • Horizontal Diversification By Dr. Ranjan Madanayake They promptly launched Fair & Handsome • Conglomerate Diversification fairness cream for men. Shampoo comes in 50ml Concentric Diversification. and above PET bottles, but Cavin Kare of India, References: The company could setup a new business unit Igor Ansoff, (1957), http://tutor2u.net /business/ realizing that the low income consumers would be to produce new products that apply similar image Ansoff%20Matrix%20w 500.gif persuaded to buy if th-ey could market a single technologies and serve existing markets. A dairy Kotler, P. Keller, K. L. Koshy, A. Jha, M. use product laun-ched a line extension, the farm that markets sterilized dairy milk can setup (2012) Marketing Management, A South Asian shampoo sachets. a new business unit to produce RTD flvoured Perspective, 13th ed. Dorling Kindersley, India Product Improvement and dairy milk. Vanilla, Chocolate, Strawberry and Wheelan, T. L. and Hunger, D. J. (2010) Concepts Enhancements. Mango flavoured milk drinks are popular among in Strategic Management and Business Policy, 12 Nespray 3+, targeting growing up kids over 3 the young. ed. Dorling Kindersley, India years has incorporated Forti-learn a unique

[ 18 ] DECEMBER SLID POWER PAGES HARVARD MANAGEMENT TIPS HARVARD MANAGEMENT TIPS

Where Your Company need, a solid project concept, and well thought- fits. Try using these takes on standard interview Shouldn’t Compete out financials. If any of those elements are questions: The first step in setting a winning strategy for your missing, even a powerful champion can’t help you “What don’t you want to be doing five years from company is deciding where you will do business. now?” Asking the question this way forces an But you need to be careful in these choices. Here applicant to think on his feet, revealing a lot about are two places you should avoid: his adaptability. Your biggest competitor’s space. It’s te-mpting to Make Good Decisions Faster “What would you say is the biggest mis-perception take on your strongest opponent head-to-head. A simple approach can help replace your people have of you?” Top candidates will have But most often their market will be essentially a slow deliberations with fast decisions. Try this a high level of self-awareness and won’t have walled city. Instead look for competitive areas that framework: trouble ans-wering this. They’ll also understand enable you to attack from unexpected directions, • Know your ultimate objective. The that perception is reality in many cases, and may along the lines of least resistance. biggest hurdle to fast decisions is criteria overload. already have a plan to address it. The white space. Being a first mover in Of the seven or eight possible objectives you unoccupied territory is an attractive position. But would love to meet, which one or two will make Be a Work-Life Role Model Everyone struggles to find the right balance remember that there is only one true first mover, the biggest impact? Consider which stakeholder between work and life. As a manager, how you and all too often that space is already occupied you least want to disappoint - which goal would personally handle this challenge influences your by a formidable competitor that you probably don’t they care about most? team members. They are looking to you for signs see or understand. • Get a second opinion. Asking one of what they can and should do. Here is how you Consider the Risks in Your other person can broaden your frame of reference can set a good example: Business Case and help eliminate judgment errors. Plus, the act Be open. Talk candidly about your own challenges A good business case addresses the question, of explaining your situation anew often gives you and strategies for fitting together your work, family, “What happens if we take this course of action?” fresh insights. and personal life. Let your employees see you as But chances are that not everything will go • Do something. Select one option more than just a person who works. as planned. Be sure to consider the risks to while letting go of all the other “good” ones. No Appreciate others as whole people. Respect the what you are proposing and what will happen amount of deliberation can fact that everyone you work with has a life beyond to the project’s value if you’ve made the wrong guarantee that you have work. Encourage people to talk about their non- assumptions. Most people focus on threats: What identified the “right” option, work acti-vities with colleagues. if the vendor doesn’t deliver on time? What if the but remember: The purpose Be willing to experiment. Ask people ab-out what cost of raw materials goes through the ro-of? of a decision is not choose would help improve their ability to achieve work What if you aren’t able to hit the laun-ch date? But perfectly, but to get you to results while also increasing their well-being you also need to consider opportunities: How can the next decision. beyond work. When employees are involved in you get a higher return on investment or a faster desig-ning and implementing solutions, they’re payback? Can you complete the project sooner? more committed to making them work. Can you put your best team on it? Think about . Avoid the Pitfalls of Positive Feedback each assumption you’ve made and how it could Two Unconventional Questions to Praise should motivate your employees, change. Ask a Job Applicant but in some cases it does just the opposite. Here’s 1 Minute Trick for Better Negotiations Gauging a potential employee’s skills and how to make sure positive feedback actually How do you negotiate better? Simple: Beforehand, suitability is tricky when you don’t have much works: take a minute or two to focus on what you have to time. But there are ways to take in-terviewees Don’t cushion the blow. Don’t routinely say gain and what you hope to achieve and banish all out of their comfort zones and encourage the kind thoughts of what you might lose. List everything of candor that will ena-ble you to find the best you hope to accomplish and the ways you will Continued Page 21.... benefit if you are successful. Re-read this list just before the negotiation begins. Throughout the exercise, it’s important to try not to focus on what could go wrong. Great negotiators stay focused on their ideal target, despite the risks they face. With practice, this focus-training will be-come easier and, eventually, automatic. Find a Champion for Your Business Case When preparing a case for a new project or initiative, be sure you have someone at a senior level who will lobby for it. Look at each member of the committee: Whose goals and concerns will your project most directly address? Reach out and ask what his or her department is trying to achieve in the coming year. Get a sense of what big projects are under way and which efforts need more support. Explain how your initiative can help fill in gaps or address trouble spots. Of course, having someone influential on your side does little good without a strong case that meets a business

SLID POWER PAGES [ 19 ] DECEMBER HARVARD MANAGEMENT TIPS

HARVARD MANAGEMENT TIPS..... With Compliments

[ 20 ] DECEMBER SLID POWER PAGES Continued from Page 19.... something ‘nice’ before giving criticism. Doing so conditions people to hear positive feedback as a hollow preamble to your real message. Lead instead with your investment in the relationship and reasons for having the conversation. Praise effort, not personal attributes. Intelligence, talent, or abilities are mostly innate and cannot be actively replica-ted. Instead, compliment effort and explain exactly what actions prompted your approval. If you are specific, you’ll reinforce the desired behavior.

Build a Climate of Trust Humans read body language and facial expressions to discern if others are trustworthy, but some situations like change or confusion prime us for distrust. In the absence of information, the brain works overtime. After all, were programmed to anticipate harm and protect ourselves from it. But even when your team lacks clarity on a situation, you can still build a trusting environment. Think about a time when your boss and a colleague starting meeting regularly and you didn’t know why. You probably started wondering if you’d been left out of an important project. Leaders can shift people’s thoughts away from threats by fostering an open, transparent environment in which everyone shares and discusses as much as they can about what’s really going on. This sends a strong signal to everyone’s lower brain that ‘trust is in the air.’

Help Your Company Cut Back on Email You cannot control how many emails you receive, but you can control how many you send. In a recent study, one firm’s workers followed suit when their executives reduced overall email output. You can spark a similar reduction and improve efficiency across your organization by doing the following: • Choose the right medium. Consider whether your communication merits a phone call or in-person meeting, where vocal tone and body language provide real-time feedback on how clearly a message is being understood. • Be deliberate. Don’t forward messages unless strictly necessary, and limit the number of recipients on each outgoing note. • Make it real. Set a target for reducing the number of messages you send. Include it in your performance goals to keep yourself honest.

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