Solving dilemma of export diversification

Sri Lanka’s problem of flagging export growth has generated much discussion. The answer that many are converging on is a single word: DIVERSIFICATION. But ‘diversification’ is a double-edged concept in exports. You can either diversify in terms of products, or in terms of markets.

Forecast for our energy future - No common solutions

A recent article by Gail Tvreberg from a think tank on ‘Our Future World’ and reproduced in ‘Oil Voice’ magazine of February 4, 2014, highlights that solutions to our energy dilemma will not work if we do not understand that the problem is quite different from what it really is and......

Metrics of measuring a hotel’s performance relative to its peers

“Eschew obfuscation, espouse elucidation” is a humorous fumble rule used by English teachers and professors when lecturing about proper writing techniques. The press release by the MD of a hotel built during the colonial era informs of increased occupancy and revenues in the nine months ended 31 December 2013.

Link between goal setting and workplace performance is inseparable

Last two weeks, we saw how goal setting is a powerful way of motivating people and of motivating managers. Today, the value of goal setting is so well recognized that entire management systems, like Management by Objectives (MBOs), have goal setting basics incorporated within them.

Introduction to real estate investment trusts

Investing in real estate has been the traditional method of securing future financial stability by increasing one’s net worth. With the advent of share trading, investments in property have been in direct competition to attract investment rupees.

Can crowdsourcing and wonder of Internet help find the missing plane?

Almost everyone on the planet has been asking a question no one is yet able to answer – what happened to Malaysia Airlines flight MH370 that was on a routine flight from Kuala Lampur to Beijing.

Why are reserve fund, status certificates important for condo owners?

A reserve fund can only be used for replacement and non-routine repairs of common elements and assets of the condo: for instance, replacement of roof, windows, boiler, carpets and security system. Other examples are non-routine repairs to the chiller, swimming pool and parking areas.

Future prospects for CTC, local tobacco industry positive: CEO

Following is an interview of Ceylon Tobacco Company PLC (CTC) Chief Executive Felicio Ferraz appeared in the FY13 annual report of the company that was released to the Colombo Stock Exchange yesterday.

Management of tree crop nutrition

Unlike annual crops such as vegetables or field crops, the perennial nature of tree crops requires that their nutrient needs be maintained in a holistic and long-term manner.  Practices such as fertilizer application, water management and pruning can affect tree nutrition status for successive years.

Future of HR, leadership and business

Professor Dave Ulrich, the most influential international thinker in HR and author of over 25 books, talks about his proposed visit to Colombo on April 30 and the key topics he plans to address in Colombo.

Need for national policy on minerals value addition

There is presently a great interest on value addition to mineral resources that could be commercially exploited in Sri Lanka. However this interest was vigorously promoted by the Geological Survey Department (present GSMB) from the early 1960s and what is new is that three minerals namely graphite and.....

Margin trading: A doubled-edged sword

In the previous section, we discussed the two restrictions imposed on the amount you can borrow. First, the initial margin, which is the initial amount you can borrow.

Process of goal setting: A fresh perspective

We saw last week that goal setting is an opportunity to focus the efforts of employees on the things that matter. A goal provides them with a direction and also allows them to prioritise their work. 

Today is International Women’s Day What women do and can do: Entrepreneurship, gender equality in SL

The United Nations celebrates the 2014 International Women’s Day under the theme of ‘Equality for women is progress for all’. Ensuring gender equality matters in many ways to the development process of a country. Gender equality matters in its own right and has been recognized as.....

As we celebrate yet another International Women’s Day: Can Sri Lanka’s corporates be more gender eq

The other day, my mobile phone rang – it was a wrong number. But as I and thousands of other Sri Lankan women discover to their dismay every day, the caller rang back – many times in fact, whispering what no woman wants to hear.

Can Sri Lanka learn from Korean SME promotion strategy?

Korea is no stranger to economic hardship, recovery and progress. The Korean War during 1950-53 took 1.5 million lives and destroyed close to 40 percent of the country’s industrial facilities. Yet, it overcame this turbulent history to become a developed country in less than a generation – an achievement fondly referred to...

Who bleeds for the budget?

Previous Verité Insights have documented the “long-procrastination” in the achievements of targets set out in the budget. The mismatch between expectation and reality has been particularly a problem in the area of government revenue. This Insight locates the sectors that have suffered with budget cuts to compensate for......

How to review Sri Lanka Condominium Act Public engagement absolutely necessary

Our Condominium Act was based on the condo operations of Singapore. Singapore obtained more information with regard to setting up condominiums from Australia. Since the introduction of condominiums in Singapore, they also have various problems that have to be attended to.

Tapper and production-related issues in rubber: Malaysian experience

Several approaches, techniques and systems were developed in the 80s and 90s to tackle the problem of tapper shortage and rising costs of production, which were not adopted on a large scale due to low productivity of prevailing clones in the 80s/90s, very low selling prices of rubber, low wages paid to tappers....

Management compass: Setting performance goals

“If you don’t know where you are going, any road will get you there.” This line from Alice in Wonderland has been true in many organisations and companies. They often don’t have or maybe don’t articulate very well real business goals other than ‘staying in business’.

Margin trading: A double-edged sword

Imagine you’re sitting at the black jack table and the dealer throws you an ace. You’d love to increase your bet but you’re a little short on cash. Luckily, your friend offers to spot you Rs.50 and says you can pay him back later. Tempting, isn’t it?

What advice would you have given your younger self?

Would a look back at what decisions we made be relevant to the decisions we make in the future? In retrospect is a term used wisely. Most of us feel wiser and mature, when we look back at the past. The decisions we have made, the people we have chosen to be with, the career moves we have made....

Buffett's annual letter What we can learn from his real estate investments

“Investment is most intelligent when it is most business like.” -Benjamin Graham, The Intelligent Investor. It is fitting to have a Ben Graham quote open this essay because I owe so much of what I know about investing to him. I will talk more about Ben a bit later and I will even sooner talk about common stocks.

JKH, DIMO bag ACCA Sustainability Reporting Awards 2013

John Keells Holdings (JKH) was adjudged the country’s most transparent and accountable business entity when it bagged the Overall Winning Award at the annual ACCA Sri Lanka Sustainability Reporting Awards, with Diesel & Motor Engineering PLC (DIMO) coming in as the overall runner-up.

SL-Iraq trade talks begin in Baghdad

The latest Sri Lanka-Iraq Joint Committee for Economic Cooperation (JEC) Commenced February 25 in Baghdad, a statement from the Industry and Commerce Ministry said. “Iraq is certainly an important market for us not only for tea but even for other prospective products.

Friendship bridge across Asian waters Sino-Sri Lankan relations grow apace with trade gains made ove

In December 1952, during a historic visit to China to conclude the rubber-rice barter trade agreement, Sri Lanka’s then commerce minister Richard Gotabhaya Senanayake was presented with a gift by Zhou Enlai, then premier of the People’s Republic of China.

Impressive to excessive to over-the-top

Oxfam states that the accumulated wealth of the top 85 of the richest in the world equals the total worth of $ 3.5 billion of the poorest! It goes beyond 4 billion of the poorest, when one adds the total wealth of the next 250 richest in the world to the top 85.

Importance of organic matter in plantation agriculture

Soil organic matter is any material produced originally by living organisms (plant or animal) that is returned to the soil and goes through the decomposition process. At any given time, it consists of a range of materials from the intact original tissues of plants and animals to the substantially decomposed mixture of......

Pareto Analysis - Taking mystery out of problem-solving

There are many problem-solving techniques available to managers and most of them are powerful tools for reaching a solution. However, one stands out as the power tool to use for deciding ‘which’ problems to solve; ‘Pareto Analysis’. It sorts the vital few from the trivial many. It is also known as ‘80/20 rule’,......

What should investors know about IPOs?

It is a formal legal document, which provides details about an investment offered to the public. It is important to read the prospectus because it provides information regarding the terms of the securities being offered as well as disclosure regarding the company’s business, financial condition, management and.....