Competitiveness possible through systematic processes across all industries – Harsha
As a significantly different economy on a structural level from where it was even 10 years ago Sri Lankans are doing different things, as such it’s important to approach those businesses that weren’t competitive in a systematic manner, according to a top economist.
“There are a lot of people who are stuck because of inefficient production, particularly in our agriculture sector. These are issues that need to be rectified and the pillar to our solution will be to improve competitiveness,” said Deputy Minister of Policy Planning and Economic Development Dr. Harsha de Silva addressing the CIMA Sri Lanka flagship event –the Business Leaders’ Summit – under the theme ‘Future Defined: Vision, Understanding, Conviction, Agility (or VUGA) in Colombo this week.
According to him, competitiveness would only be possible through a systematic reform of processes across all Sri Lankan industries. “It may sound simplistic but we have to deliver political, economic and social justice to all the people of this country, not only the people who frequent these types of events but everyone else as well. Ultimately our vision for the future – for the next five years and hopefully beyond that – is built around these ideas of competitiveness and justice,” he explained.
Innovation Institute of America CEO and inventor of a $5 billion personal crowd-funding industry Alexander Blass kept the Colombo audience crowd engaged on a hot topic of ‘Leadership through innovation and creativity’, which he said are no longer optional, but essential. Mr. Blass, a grand prize winner of the Daily Record’s Top Innovator of the Year Award, asserted how one can reinvent him/herself and their company to get on the path to innovation today by thinking about “what’s next” and challenging the status quo.
“In order for an innovation ecosystem to flourish and for you to achieve your highest level of potential and success as an innovator or innovative company, an innovative mindset must be present in all aspects of your organizational strategy. Particularly in challenging economic times, it is essential to be constantly innovating to stay ahead of the competition by coming up with creative new products and services to market and sell to your current and prospective customers,” he said.
Previously, Mr. Blass was a venture capitalist, equity research analyst, strategy consultant, senior government executive, and software developer, beginning his career at KPMG Consulting. During his tenure as a venture capitalist, one of the fund’s portfolio companies went from a $500,000 fund investment to a nearly $500 million all-cash acquisition by a Fortune 50 corporation. He has worked with leading organizations worldwide on opportunities totaling over $1 billion, as well as serving on boards of various for-profit and non-profit organizations in the U.S. and overseas.
Mr. Blass drew from his experience and the lessons learned as a social entrepreneur to inspire and motivate, ensuring audiences that by finding their passion, maximizing their unique abilities, and embracing change, one person can indeed change our world.