Seminar on ‘Practical survival strategies in times of recession’
There have been a surfeit of seminars, discussions and presentations
on the Global Financial Crisis; its causes, the extent of the downturn
etc. However there has been very little advice given to organizations in
Sri Lanka on what they should practically do and how they should face
the challenges caused by the downturn in demand.
The National Chamber of Commerce of Sri Lanka will hold a seminar on
“Practical Survival Strategies in Times of Recession”, as many business
organizations in the country and particularly exporters have been
affected very significantly.
This seminar, mostly conducted by practitioners in business
organizations, will enlighten the participants with practical steps
taken by them and provide advice on what Sri Lankan companies could do
to sustain their businesses during the crisis period, so that they may
bounce back when the situation improves.
This seminar will focus on areas such as “Economic Scenario for the
future; globally and locally”, “Lean/Management practices”,
“Restructuring without violating labour laws”, “Effectively
communicating with your workforce in times of crisis,” and “Changing the
business model to suit current conditions”.
Under “Economic Scenario for the future; globally and locally” the
speaker will explain the extent of the global crisis and its
repercussions to Sri Lanka, the Sri Lankan economy, future trends in
inflation, growth, exchange rates, and how businesses should prepare
future scenarios for strategic decisions. Participants will have
opportunity to learn on thereby reducing cost, reducing product
development time, reducing inventories, reducing working space etc.
under the “Lean/Management practices” session.
Many companies are restructuring and reducing their workforce,
changing working hours, using labour contractors etc., and some of these
initiatives have been undertaken without proper professional guidance,
and may lead to complications.
In fact some companies have experienced problems with compliance
audits of foreign buyers. Session on “Restructuring without violating
labour laws.” will advice the organizations as to how they could
restructure their organisations without violating labour laws.
It is observed that many organizations have been deficient in
communicating the current crisis to the employees and have thus failed
to take the workers as partners in the restructuring process. Topic
“Effectively communicating with your workforce in times of crisis” will
focus on this area.
Director, Corporate Branding and Strategic Sustainability of MAS
Holdings, and CEO of the Sri Lanka Institute of Nano Technology, Ravi
Fernando will explain why organizations should adopt “Sustainable
Business Strategies”.
He will talk about the global trend in approaching business from a
triple bottom line perspective and expand on economic sustainability
with practical ideas on how to re-look at the brand strategy, marketing
strategy and marketing techniques.
Managing Director, DFCC Vardhana Bank L.G. Perera will talk on
“Effectively managing company finances and bank facilities as a measure
to sustain business in difficult times”. He will advise on how to manage
finances within the organization and how to approach banks for
re-scheduling and assistance during difficult times.
All the practical ways mentioned above will help businesses and
industries to adopt suitable strategies to survive in the difficult
times. However to achieve a well rounded result, it is of utmost
importance that the relevant players will adopt a simpler lifestyle
avoiding unnecessary expenses in their day-to-day activities.
The Founder President of Sarvodaya Movement Dr. A.T. Ariyaratne will
explain about “A new lifestyle for a new era”. He will advise the
participants as to how they could benefit by adopting a new lifestyle.
Chairman/Managing Director of Dankotuwa Porcelain PLC, Sunil G.
Wijesinha who is also the Deputy President of the NCCSL, will moderate
the seminar. The seminar is ideal for Managing Directors, Executive
Directors, Chief Executive Officers, General Managers, Senior Managers
and Proprietors of organizations to gain practical experience from those
who managed the crisis well and are successful in leading their
organizations towards success amidst the global financial and economic
crisis.
The seminar will be held on May 19 from 9.00 am - 5.00 pm at Hotel
Taj Samudra. |
