Panel discussion was led by Dharshan Cooray, seated from left Dr Arul Sivagananathan,Vipula Gunatileke, Ghanshyam Das Khandelwal, Fayaz

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3 Panel discussion was led by Dharshan Cooray, seated from left Dr Arul Sivagananathan,Vipula Gunatileke, Ghanshyam Das Khandelwal, Fayaz Hudah,Hariharan Padmanaban, Omar Fatherally and Madu Rathnayake

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5 Unlearn: Learn adapting best practices in family businesses Family businesses are a vital part of the global economy and a cornerstone of the economic systems in most countries. Recognizing this, CIMA Sri Lanka conducted an event on 29 October 2014 at Kingsbury Hotel led by the gurus in the world of family business. The forum enabled the audience to learn how family businesses remain true to the family culture and vision, while adopting best management practices the corporate world has to offer in terms of business and growth strategies, professionalism, talent management, and financing, among others. Bradley Emerson, Regional Director of Middle East, South Asia and North Africa, CIMA delivered the opening remarks emphasizing on the importance of entrepreneurships and family businesses and how conducting informative and knowledge sharing events of this sort also complements CIMA s mission of helping people and businesses succeed be it taking these family-run businesses to the next level or mentoring talented individuals with emerging business opportunities. R. Gopalakrishnan, Director of Tata Group in his Keynote Address shared the significance of running a business with family members and the unparalleled possession of an inborn competitive edge no other company can match, in these businesses. He also pointed out the value of creating an adaptive, collaborative and tolerant eco-system. He concluded his speech saying; don t be the Himalayan Musk Deer, looking for something elsewhere, unaware of the fact that it has all along been within you, instead learn from the internal environment, then solve problems, introduce products, a nd re-engineer processes by seeing the world in a new light while acting accordingly. Husein Esufally, Chairman at Hemas Holdings PLC discussed Hemas story of its transition from a family run business to obtaining a stock exchange listing, sharing with the gathering he also stated the firsthand experiences of managing challenges of a family business in the quest to professionalise and create value, which ultimately boils down to leaving a legacy in place to steer the purpose of the organisation. Prakash Schaffter, Managing Director of Janashakthi Insurance PLC highlighted the indisputable defining quality of family businesses, making references to to Janashakthi Insurance at its early stages, he talked about how individuals report to one another, confide in one another, and grow the company together with a sibling or a parent, because they know what inspires, what threatens, what elicits compromise. He also said; the best family businesses turn that understanding into an efficiency that breeds speedier management and growth.

6 To deepen the understanding of brand power and value, Malik J.Fernando, Director Operations of MJF Holdings & Dilmah Tea provided valuable insights about Dilmah s journey of humble beginnings to experiencing growth at rapid pace while combating unprecedented change, achieving sustainable growth, investment, and success. The forum also featured a panel discussion on how Sri Lanka's family businesses can sustain, transform and run better in ever-changing economies, moderated by Dr. Arul Sivagananathan, Managing Director, Hayleys Industrial Solutions (pvt) Ltd. & Hayleys BPO. Also present in the panel were Mr.Renuke Wijayawardhane, Chief Operating Officer of the Colombo Stock Exchange and Mr. Ranil Pathirana, Director of the Board of Hirdaramani Group of Companies along with the speakers of the event. The panel discussion was indeed a session which brought the audience into the discussion with crackled energy and elicitation of fresh ideas. Colombo Stock Exchange (CSE) were the Principal Sponsors of the Unlearn: Learn adapting best practices in family businesses forum. Also lending their support to make this event possible were Associate Sponsors ANC Education.

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8 DIMO wins CIMA Business Case Award 2014 The most eminent annual business event of CIMA Sri Lanka, the CIMA Business Case Awards Night themed ImpACT was held on 12 November 2014 at the Kings Court, Cinnamon Lakeside hotel. The Awards Night, was a dazzling evening with prestigious awards presented for the year s best achievements in the business world. Diesel & Motor Engineering PLC (DIMO) was declared a winner at the Business Case Awards of 2014 organised by the Chartered Institute of Management Accountants (CIMA). The awarding took place at a lavish ceremony held on 12 November at Cinnamon Lakeside Hotel. DIMO faced intense competition amongst a host of distinguished companies to emerge victorious with their case study titled How focusing on their purpose served our purpose. This year s participants from across the private and State sectors strived to identify and narrate specific real-life occurrences in their own organisation through business cases. The positive ImpACT of their meticulous planning, eloquent execution and continuous improvement of their business strategies needed to be articulated on paper and presented to a panel of distinguished judges. DIMO s award winning business case study focused on the TATA Commercial Vehicles incredible success story. It laid out their customer centric approach in sustaining the market share that they had been able to achieve ever since the end of the war in Factual evidence was presented on how DIMO was able to deliver customer centric services despite the challenges of intense competition and fluctuating economic factors. Highlighted areas of the case were the customer segmentation approach and the customer reach that the TATA team introduced to create the competitive edge that resulted in the firm establishment of their market share leadership. A cross-functional team that included Madurika Samarasekera, Prabodha Shawn Silva and Varuna Jayasinghe prepared and presented the business case to CIMA. And invaluable contributions towards its success came from Rakhita Gunasekera, Thushara Luvis and Shalika Lakmali. Speaking about the business case, DIMO Chairman and Managing Director Ranjith Pandithage was quick to praise the diligence and commitment of the team that worked on the case study, while highlighting the dedication of the management and the operational staff in delivering a total solution to their customers. The unique case of TATA s success in Sri Lanka is one that I am proud to say that DIMO helmed for more than half a century. The TATA team that successfully executed the strategies detailed in the case study opted to be different in-order to fulfil a customer s individual needs. I wholeheartedly congratulate the outstanding efforts of the business case team to showcase these achievements and its impact on our organisation to win this notable award.

9 WNS Global Services and GlaxoSmithKline were honoured with merit awards, Unilever Sri Lanka were 2nd runners up for their case study of a successful business partnering activity that restructured its Business Partner remuneration model, Mobitel (Pvt) Ltd emerged the 1st runners up for their business case journey of project management excellence to share, care and deliver Unilever Sri Lanka Mobitel (Pvt) Ltd

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11 Dr B M S Batagoda Suresh Perera Sunjeevani Kotakadeniya Dr Anila D Bandaranaike Panel discussion lead by Vipula Gunatilleke, seated from left Suresh Perera, Sunjeevani Kotakadeniya, Dr Anila D Bandaranaike, Dr B M S Batagoda

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