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03rd September2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #11

How to manage healthy business relationships ?

𝑏𝑦 Jithmi Yashodya

A web of standard business relationships would be one of the most valuable assets for a business. Here, in this article we are going to explore details under the above topic.

The co-founder of EIC marketing, Alistair Dodds once said that “It’s absolutely essential for a start up with limited time and resources to build business relationships”. Unlike cash, strong business relationships are not diminishing resources, a properly maintained network would always be multiplied though.

There are several ways, which we need to study while building business relationships. One of the most important sectors is the customer relationship. Depending on the particular business, a strong business network may expand from customers and clients to suppliers, buyers, outsourced service providers, the government, media or even competitors.

Business to Business (B2B) relationships

Typically, this kind of relationships are mostly remained according to where the particular business in the supply chain. As an example, a cosmetics company could not do business without its upstream suppliers or downstream retailers. When considering the competitors, it implies not the direct competitors of your business, but the business which have the same customer profile.

Business to Customer ( B2C) relationships

When it comes to the customer, the most important fact is “trust”. Other customer relationship factors to consider are product satisfaction, which means ensuring that the product or service you provide meets the standard your clients expect and open communication.

Nurturing Business Relationships

This can be categorized into two sectors.

1. Networking

2. Setting disputes

Networking – This is one of the key factors to a successful business. When dealing with society, it is essential to pay attention to win the customer’s trust. For that strategies should be used like, giving free samples and providing services after sell as well.

Setting disputes – If the particular relationships are not going well, the individuals and companies involved should try to dissolve the relationship without creating further damage. The issues should be gradually understood and need to come up with relative solutions.

Building up relationships is the key factor for the better and long-term existence of a business. Therefore, it is essential to know how to communicate better, to improve business partnerships.

§ Overcommunicate

§ Keeping commitments

§ Honesty

§ Keeping in touch

§ Sharing

§ The personal touch

Overcommunicate – Even the word sounds somewhat bad, when it comes to the business sector, it is something which should be continued.

Keeping commitments – Being true to your word will go a long way towards building trust between you and your partners.

Honesty – This is the most important principle, that we can have. Because when someone gets a negative or bad idea about the business it is pretty much impossible to change their minds.

Keeping in touch – It is very important to update and strengthen the relationships constantly. Otherwise, they will get weaker and vanished. Therefore, all the sources that can be used for networking, need to be used. As an example, social media can be used for relationship development.

Sharing – Here this word means, sharing knowledge and resources among the business parties. Exchanging knowledge would always be supported, to gain and understand new business strategies.

The personal touch – The most important way of communication is face to face interaction. Need to look for as many opportunities as possible to meet the particular partners in person, whether socially at a coffee shop or golf course, or some sort of trade event in the relevant industry.

27th August 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #10

What is Sustainable development and what are the impacts of it on business ?

𝑏𝑦 H.M. Manoj Chinthaka Herath and Erandi Sanjeewani Warawaththa

Sustainable development is the idea that human societies must live and meet their needs without compromising the ability of future generations to meet their own needs. In the business’s point of view, sustainable development is adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining and enhancing the human and natural resources that will be needed in the future. So this definition recognizes the needs of a business enterprise and its stakeholders as well as shareholders, lenders, customers, employees, suppliers and communities who are affected by the organization’s activities. This also highlights the business’s dependence on human and natural resources, in addition to physical and financial capital. Though this strategy can be applied to a single organization sustainable development cannot be achieved by a single enterprise in isolation. There needs a collective effort from every participant in the global economy to achieve that.

There has substantial evidence that economic growth contributes to many of the environmental problems. A common response for that is stricter environmental regulation, which often inhibits economic growth. The result can be a trade-off between a healthy environment on the one hand and healthy growth on the other.

As a consequence, opportunities for business may be constrained. Therefore there need forms of development that are both environmentally and socially sustainable. They lead not to a trade-off but to an improved environment, together with the development that does not draw down our environmental capital.

“Going to green” is the most recent strategy adopted by businesses to achieve that. It enforces sustainability on the organization to reduce energy use, costs, wastes and other environmental factors. There are benefits like promoting creative innovations for new products or processes, expanding new markets by promoting more cost effective ways to develop and sell products, getting one step ahead of the regularity curve and differentiating from the competition. This also enables an organization to attract new employees, shareholders and customers who share these same values. This can improve the public’s view on the firm and its products, and be a positive impact to the bottom line of the business over time. The impact of sustainability can also be positive in both the short and long term.

Therefore, it is evident that sustainable development is good for the business itself. It creates opportunities for suppliers of ‘green consumers’, developers of environmentally safer materials and processes, firms that invest in eco-efficiency and those that engage themselves in social well-being.

තිරසාර සංවර්ධනය සහ ව්‍යාපාර සම්බන්ධයෙන් එහි බලපෑම කෙබඳුද?

තිරසාර සංවර්ධනය යනු අනාගත පරපුරට තම අවශ්‍යතා සපුරාලීමට ඇති හැකියාව එලෙසම පවත්වා ගනිමින් වර්තමාන මානව සමාජයේ අවශ්‍යතා සපුරා ගැනීමයි. ව්‍යාපාරික දෘෂ්ටි කෝණයෙන් බලන කල , තිරසාර සංවර්ධනය යනු අනාගතයේදී අවශ්‍ය වන මානව හා ස්වාභාවික සම්පත් ආරක්ෂා කිරීම, පවත්වාගෙන යාම සහ වැඩිදියුණු කිරීම වන අතර, ව්‍යාපාරයේ සහ එහි පාර්ශ්වකරුවන්ගේ අවශ්‍යතා සපුරාලන ක්‍රියාමාර්ග අනුගමනය කිරීමයි. ව්‍යාපාර හිමිකරුවන්, ණය දෙන්නන් , ගනුදෙනුකරුවන්, සේවකයන්, සැපයුම්කරුවන් මෙම පාර්ශ්වකරුවන් ගණයට අයත් වේ. මූල්‍ය ප්‍රාග්ධනයට අමතරව ව්‍යාපාරයේ මානව ස්වාභාවික සම්පත් මත රදා පැවතීමටද තිරසාර සංවර්ධන ක්‍රමෝපායන් ඉවහල් වේ. තිරසාර සංවර්ධන උපායමාර්ග තනි ආයතනයක් සදහා යොදා ගත හැකි වුවද, තනි ව්‍යාපාරයකට තිරසාර සංවර්ධනය අත්පත් කර ගැනීම තරමක් අපහසුය. එය සාක්ෂාත් කර ගැනීම සදහා ගෝලීය ආර්ථිකයේ සෑම අංශයකම සාමූහික උත්සාහයක් අවශ්‍ය වේ.

පාරිසරික සංවර්ධනය සදහා ආර්ථික සංවර්ධනය ඍජුවම දායක වන බවට සැලකිය යුතු සාක්ෂි තිබේ. දැඩි පාරිසරික නියාමනයන් බොහෝ විට ආර්ථික වර්ධනයට බාධා කරයි. එහි ප්‍රතිඵලයක් ලෙස ව්‍යාපාර සදහා ඇති අවස්ථා සීමා විය හැකිය. එබැවින් පාරිසරික මෙන්ම සමාජීය වශයෙන් තිරසාර සංවර්ධන ආකාර යොදා ගැනීමට වගබලා ගත යුතුය.

හරිත සංකල්පය යනු තිරසාර සංවර්ධනය සාක්ෂාත් කර ගැනීම සදහා ව්‍යාපාර විසින් අනුගමනය කරනු ලබන නවතම උපාය මාර්ගයයි. තිරසාර බලශක්ති භාවිතය, පිරිවැය, අපද්‍රව්‍ය සහ වෙනත් පාරිසරික හානි අවම කර ගනිමින් නව නිපැයුම් හෝ ක්‍රියාවලින්, නිර්මාණාත්මක නවෝත්පාදන ප්‍රවර්ධනය සිදු කිරීම, නිෂ්පාදන සංවර්ධනය කිරීම හා විකිණීම සදහා වඩාත් ලාභදායී ක්‍රම ප්‍රවර්ධනය කිරීම, තරගකාරී වටපිටාවෙන් වියුක්ත වීම වැනි ක්‍රියාමාර්ග ව්‍යාපාර සදහා ගත හැකි තිරසාර සංවර්ධන ක්‍රියාමාර්ග ලෙස හැදින්විය හැකිය . මෙමගින් නව සේවකයන් , කොටස් හිමිකරුවන් , සහ ගනුදෙනුකරුවන් ආකර්ෂණය කර ගැනීමට ආයතනයකට හැකියාව ලැබේ. තවද මෙමගින් සමාගම සහ එහි නිෂ්පාදන පිළිබඳව මහජනතාවගේ දැක්ම වැඩිදියුණු කළ හැකි අතර කාලයත් සමග ව්‍යාපාරයේ පහළ ස්ථර කරාද ධනාත්මක බලපෑමක් එල්ල කළ හැක. තිරසාර සංවර්ධන‍යේ බලපෑම කෙටිකාලීන මෙන්ම දිගුකාලීනද වේ.

තිරසාර සංවර්ධනය ව්‍යාපාර සදහා යහපත් බලපෑමක් ඇති කරන බව මෙම සියලු කරුණුවලින් පැහැදිලි වේ. 'එය හරිත පාරිභෝගිකයන්' ට , සැපයුම්කරුවන්ට, පාරිසරික වශයෙන් ආරක්ෂිත ක්‍රියාවලින් සංවර්ධකයන්, පාරිසරික කාර්යක්ෂමතාව සදහා ආයෝජනය කරන සමාගම්වලට සහ සමාජ යහපැවැත්මට පුළුල් ලෙස අවස්ථා හිමි කරයි.

24th August 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #09

Role of the Central Bank of Sri Lanka

A central bank is a proficient institution for maintaining and sustaining the economic stability in a country. It gives expedience control over the production and distribution of money and credit for a country. The central bank of Sri Lanka has the power to administer and regulate the entire money, banking and credit system of the country. The sole right and authority to issue currency and it also becomes the custodian of the international reserves of the country.

There are two main objectives of the central bank of Sri Lanka

01.Economical and price stability

02.Financial system and stability

Also, It has many functions including price stability, maintain the value of national currency, injecting money into the economy, maintaining stability and the development of financial markets.

Monetary policy and Fiscal policy are the two most broadly accepted tools which used to influence economic activity in a state. Monetary policy is predominantly concerned with the management of interest rates and the total supply of money in circulation. Fiscal policy is related with taxation and government spending.

Monetary policy is normally managed by central bank, as well government legislation generally determines Fiscal policy. fiscal dominance and the central bank independence can be taken place in the functioning of government and the central bank. Fiscal dominance can be identified as the government's ability to determine the stock of debt and the path of total expenditures and taxation. Hence, the government can impact the inflation rate, future flow of the monetary base by raising the permanent level of expenditures without at the same time raising taxes.

Central bank independence is the freedom of monetary policymakers from direct political or governmental influence in the conduct of policy. These two concepts are contradictory to each other. If there is high central bank independence in a state, there would be a low fiscal dominance and vice versa.

Some countries have recorded the highest GDP ranking due to high central bank independence. If the central bank has full independence, it quickly influences to independence. There are several advantages and disadvantages of separating the central bank from the state. If direct political influence for the central bank happens, politicians will expose to risk the entire economy for selfish gain. Because they can make any decisions about the central bank. Money spent by the government is overseen for controlling inflation by the central bank. If the government totally makes decisions regarding the economy, some decisions will lead to economic collapse such as populist decisions. The operations of the central bank are very secretive many financial crises may happen due to their unexpected actions under separating the central bank from the state.

The most suitable way is the role of central bank and government should be like husband and wife of the family. The state is like a family, the government is like a husband and also the central bank is like a wife.

13th August 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #08

Importance of entrepreneurship in developing countries

Entrepreneurship plays a significant role in shaping the economies of developing countries. A developing economy is quite different from a developed economy. The developing economy can be an agricultural country moving towards industrialization. Such developing countries need forward-thinking entrepreneurs to achieve their development goals. Entrepreneurs and helping government can change a developing economy into a developed economy.

Employment generation is one of the main benefits of entrepreneurship. Unemployment is a huge problem in most of the developing and underdeveloped countries. Entrepreneurs play an effective role in reducing the problem of unemployment as it is a source of direct and indirect job opportunities for many people in a country. Another importance of entrepreneurship is promoting capital formation. Entrepreneurs mobilize the idle funds which lead to capital formation. Then there is optimum utilization of national resources.

This leads to creation of wealth and to a better national income which is very essential for the development of an economy. New businesses in rural and semi urban areas create additional employment in those areas and prevent migration of people from rural to urban areas. Since the majority of the people are living in the rural areas in developing countries, it is a very effective way to the community development of such areas. The growth of industries and businesses in those areas leads to numerous public benefits in transportation, health and education sectors.

Entrepreneurship plays a vital role in achieving a higher rate of economic growth. It increases national income and boosts standard of living. Entrepreneurs help to manufacture indigenous substitutes to imported products and reduce the dependence on foreign countries ensuring economic independence. They also engage in exporting goods and services to earn foreign exchange for the country. Further, when an industry is established to produce some products then it has a chain reaction due to the demand for raw materials. It helps in boosting the number of units in their present companies and to start new companies. Entrepreneurship promotes innovations, research and development. Businesses need to be innovative for survival and better performance as innovation is the greatest pillar of entrepreneurship. A wide range of products is produced by entrepreneurs according to the taste and demand of people. They let consumers buy what they want. It increases standard of living. The creation of an enterprise gives a chance to other people for getting involved in the entrepreneurial venture and get valuable experience. It inspires others to start businesses and to develop some new products. This process contributes to the economy by enhancing more entrepreneurial activities.

It is crystal clear that entrepreneurship acts as a catalyst in the development of the nation’s economy. Therefore, the government has to support entrepreneurs to succeed and should encourage people to be entrepreneurs.

07th August 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #07

How the rapid technological developments revolutionize marketing?

𝑏𝑦 H.M Manoj Chinthaka Herath, and Erandi Sanjeewani Warawaththa

Technology has transformed marketing by making campaigns more personalized and immersive for people and creating ecosystems that are more integrated and targeted for marketers. This is not just the interface between brands and people that have been transformed. New technology in marketing has permeated the infrastructure and systems on which companies are built, delivering value to procurement and adding to the bottom line. As an example in 2013, 47% of US marketers focused on creativity to drive marketing strategy. In 2022 it is expected to 56% of marketers, both creativity and technology will play an equal role in determining where and how they engage with their customers.

Technology and Communication helps businesses grow and prosper, creates relationships, and strengthens. The effectiveness of organizations, and allows people to learn about one another. Technologies, such as the Internet, mobile phones, social media, and customer relationship management systems greatly affect the way companies communicate with prospective customers. Many of these consumers and business professionals seek information and connect with other people and businesses from their computers and phones. With access to many sources of information and an interest in interactive media, consumers may collect more product information on their own. Working environments are also changing, with more people having virtual offices, texting on their cell phones, or communicating through social media sites such as Facebook, LinkedIn, Pinterest, and Twitter.

Today the young population is a part of the millennial generation, and it is consumers from this generation who are driving the change towards the new communication technologies. As an example from stores on your cell phone as you walk by them or via a mobile gaming device that allows you to connect to the Web. Likewise, advertisements on Facebook are popular as businesses continue to utilize more social media. Traditional media such as magazines, newspapers, television compete with media such as the Internet, texting, mobile phones, social media, user-generated content such as blogs, and Youtube.

Therefore, it can be identified that digital marketing is more effective in marketing. There are plenty of advantages to the business in this mode of marketing. As an example, a research shows that the average page-load speed for retail websites is 7 seconds today. The website also allows finding new markets and trading globally for only a small investment. Also, this properly planned and well targeted digital marketing campaign can reach the right customers at a much lower cost than traditional marketing methods.

There are some issues like the requirement of skilled and trained personals to carry out the marketing procedure, High competition, Complaints and negative feedbacks ( can damage the brand reputation) and Security and privacy issues which can be taken as some disadvantages in digital marketing. However, due to the limitations in traditional marketing and with the modern technological advancement digital marketing concept has become more popular in the present. Therefore, in the future it is expected to make use of the digital marketing concept solely by minimizing the above hindrances.

වේගවත් තාක්ෂණික වර්ධනයන් අලෙවිකරණයේ විප්ලවීය වෙනසක් සිදු කරන්නේ කෙසේද?

තාක්ෂණය මගින් අලෙවිකරණය වඩාත් පුළුල් සහ පුද්ගලානුබද්ධ කර ඇති අතර එමගින් අලෙවිකරුවන් සදහා වඩාත් ඒකාබද්ධ පරිසරයක් නිර්මාණය කිරීමටද සමත් වී ඇත. මෙමගින් සමාගම් ගොඩනගා ඇති යටිතල පහසුකම් සහ පද්ධති ප්‍රසම්පාදනය සදහා වටිනාකමක් එකතු කිරීමද සිදු කෙරේ. උදාහරණයක් ලෙස 2013 දී ඇමෙරිකා එක්සත් ජනපද අලෙවිකරුවන් 47% ක් පමණ තම අලෙවිකරණ ක්‍රියාමාර්ග සදහා නිර්මාණශිලි නව තාක්ෂණික උපක්‍රම යොදා ගෙන ඇති අතර 2022 පමණ වනවිට එය 56% පමණ අගයක් වනු ඇතැයි අපේක්ෂා කෙරේ. නිර්මාණශීලිත්වය මෙන්ම නව තාක්ෂණය යන දෙකම අලෙවිකරුවන් සහ ගනුදෙනුකරුවන් අතර පවතින සම්බන්ධතාවය තීරණය කිරීමට ඉතා වැදගත් කාර්යභාරයක් ඉටු කරනු ඇත.

තාක්ෂණය සහ සන්නිවේදනය ව්‍යාපාරවල සංවර්ධනය සහ ඵලදායිතාව ඇති කිරීමට සහ එය ශක්තිමත් කිරීමට උපකාරී වේ. ව්‍යාපාරවල ලාභදායීතාව ඉහළ නැංවීම සහ එය පිළිබඳ ජනතාවට දැන ගැනීමට ඇති අයිතිය තහවුරු කර ගැනීමට ඉඩ දීමද ඉතා වැදගත් වාසි ලෙස දැක්විය හැක. අන්තර්ජාලය, ජංගම දුරකථන සහ පාරිභෝගික සම්බන්ධතා කළමනාකරණ පද්ධති වැනි තාක්ෂණයන්, සමාගම් තම ගනුදෙනුකරුවන් සමග සන්නිවේදනය කරන ආකාරය සදහා ඍජු මැදිහත්වීමක් දක්වයි. වර්තමානයේ බොහෝ පාරිභෝගිකයන් මෙන්ම ව්‍යාපාරිකයන්ද තොරතුරු සෙවීම සදහා මූලිකවම තම ස්මාර්ට් ජංගම දුරකථන සහ පරිගණක උපයෝගී කරගන්නා අතර මෙම දෙපාර්ශවයටම තොරතුරු සදහා පහසුවෙන් ප්‍රවේශ වීමට මෙන්ම පාරිභෝගිකයන්ට තමන්ට අවැසි නිෂ්පාදන කෙරෙහි තොරතුරු දැනගැනීමද වඩාත් පහසු වී ඇත. මේ අතර වැඩ ලෝකය ක්‍රමයෙන් වෙනස් වෙමින් පවතින අතර බොහෝ දෙනෙක්ට අතථ්‍ය එනම් virtual කාර්යාල පිහිටා තිබීම, සන්නිවේදනය සදහා කෙටි පණිවිඩ (SMS), Facebook, Linkedin, Pinterest සහ Twitter වැනි සමාජ මාධ්‍ය ජාලා සන්නිවේදනය සදහා යොදා ගැනීම ඒ අතර ප්‍රමුඛ ස්ථානයක් ගනී.

අද ජීවත් වන තරුණ ජනගහනය සහස්‍රයේ (millennial) පරම්පරාවේ කොටසක් වන අතර මෙම පරම්පරාවේ පාරිභෝගිකයන් නව සන්නිවේදන තාක්ෂණික වෙනසක පෙරගමන්කරුවන් බවට පත්වී ඇත. උදාහරණයක් ලෙස ඔබට ජංගම දුරකථනය මගින් සාප්පු සවාරියේ යෙදීමට මෙන්ම එමගින් ජංගම දුරකථන ක්‍රීඩාවක නිරත වීමටත් අන්තර්ජාලයට සම්බන්ධ වීම මගින් එකවර සිදු කළ හැක. එමෙන්ම වර්තමානයේ ෆේස්බුක් සමාජ ජාලයේ පළ කරන දැන්වීම් වඩාත් ජනප්‍රිය වන අතර ව්‍යාපාර විසින් සමාජ මාධ්‍ය තම දැන්වීම් ප්‍රචාරණයට වැඩි වශෙයන් යොදා ගන්නා ප්‍රවණතාවයක්ද නිර්මාණය වී ඇත. සාම්ප්‍රදායික මාධ්‍ය වන පුවත්පත් සහ රූපවාහිනි සමග කරට කර තරගයක් දීමට මෙම නව මාධ්‍ය වන අන්තර්ජාලය, ස්මාර්ට් ජංගම දුරකථන , සමාජ මාධ්‍ය blog අඩවි සහ YouTube වැනි සන්නිවේදන වේදිකා වලට හැකි වී තිබේ.

එබැවින් අලෙවිකරණයේදී, ඩිජිටල් අලෙවිකරණය වඩා ඵලදායි බව මෙම ඉහත සියලු කරුණුවලින් තහවුරු වෙන අතර මෙමගින් වැදගත් වාසි රැසක් ව්‍යාපාරවලට ලැබෙන බවද හදුනාගත හැකිය. නිදසුනක් ලෙස පර්යේෂකයන් පෙන්වා දෙන්නේ වර්තමානයේ සාමාන්‍ය වෙළෙඳ වෙබ් අඩ්වියක් සදහා පිවිසීමට ගතවන කාලය තත්පර 7 ක් පමණක් බවයි. කුඩා ආයෝජන අවස්ථා හදුනා ගැනීමටත් ගෝලීය ව්‍යාපාර කටයුතු වලටත් එමගින් දොරටු විවර කර දෙයි. මෙමගින් සාම්ප්‍රදායික අලෙවිකරණ ක්‍රම වලට වඩා අඩු වියදමකින් නිවැරදිව සැලසුම් කළ හා මැනවින් ඉලක්කගත ඩිජිටල් අලෙවිකරණ ව්‍යාපාරවලට සම්බන්ධ වීමට ගනුදෙනුකරුවන්ට ඉඩ සලසා දෙයි.

අලෙවිකරණ ක්‍රියා පටිපාටිය ක්‍රියාත්මක කිරීම සදහා දක්ෂ හා හොදින් පුහුණුවූ පුද්ගලයන්ගේ අවශ්‍යතාව, ඉහළ තරගකාරීත්වය, වෙළඳ සමාගම් වල කීර්ති නාමයට හානි කළ හැකි ඍණාත්මක ප්‍රතිචාර ඩිජිටල් අලෙවිකරණයේ සමහර අවාසි ලෙස පෙන්වා දිය හැකිය. එමෙන්ම ආරක්ෂාව හා පුද්ගලිකත්වය සම්බන්ධ ගැටළු කිහිපයක් තිබුණද සාම්ප්‍රදායික අලෙවිකරණයේ ඇති සීමාවන් සහ නවීන තාක්ෂණික දියුණුවත් සමග ඩිජිටල් අලෙවිකරණන සංකල්පය වර්තමානයේ වඩාත් ජනප්‍රිය වී තිබේ. එබැවින් අනාගයේදී මෙම බාධාවන් අවම කරගනිමින් ඩිජිටල් අලෙවිකරණය අලෙවිකරණයේ පෙරගමන්කරු බවට පත් වනු ඇති බවට අපේක්ෂා කළ හැකිය.

06th August 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #06

Want to be a successful Entrepreneur…

𝑏𝑦 𝐾𝑒𝑠ℎ𝑖 𝐾𝑎ℎ𝑎𝑛𝑑𝑎𝑤𝑎𝑙𝑎

An entrepreneur is an individual who, rather than working as an employee, runs a small business and assumes all the risks and rewards of a given business venture, idea, or good or service offered for sale. Being an entrepreneur is not an easy task. It likes as raising a child. You have to pay serious commitment on it. It is essential to pour your time, hard work, and passion into it and see how it grows. There are four types of entrepreneurial organizations; small businesses, scalable startups, large companies and social entrepreneurs. They all engage in entrepreneurship.

“𝐖𝐢𝐧𝐧𝐞𝐫𝐬 𝐧𝐞𝐯𝐞𝐫 𝐪𝐮𝐢𝐭 𝐚𝐧𝐝 𝐪𝐮𝐢𝐭𝐭𝐞𝐫𝐬 𝐧𝐞𝐯𝐞𝐫 𝐰𝐢𝐧.”

Become a successful person is not a magic and you cannot transform yourself into a rich person and successful entrepreneur overnight. Prepared to work hard and your commitment is needed to become successful. Entrepreneurial skills that can help set successful businessmen and women apart from the rest.

When observing the success stories of successful entrepreneurs, can identify the seven key characteristics of an entrepreneur which navigated them to their way to the top.

01. Don’t take ‘no’ for an answer

02. Learn from the best

03. Stay hungry and ambitious

04. Never stand still; evolve with the times

05. Nurture long-term business relationships

06. Inspire those around you

07. Trust your gut instinct, not just your spreadsheet

𝐃𝐨𝐧’𝐭 𝐭𝐚𝐤𝐞 ‘𝐧𝐨’ 𝐟𝐨𝐫 𝐚𝐧 𝐚𝐧𝐬𝐰𝐞𝐫 – You should have enough confidence not to give up your way until you reach the destination of your journey. No matter how many knock-backs and refusals meet you while you going on your own journey. When observing the journeys of successful entrepreneurs, they are always prepared to dust them out and tend to find alternatives which are better than previous things. Transform their business into a profitable business. Many entrepreneurs have fear of failure, which drives them backward. Successful entrepreneurs view failures as a positive experience. They try to learn from those things and make them into opportunities and try to overcome the future as a successful entrepreneur. All make mistakes in their pathways, but it is your responsibility to wipe out knock-backs and move forward quickly.

𝐋𝐞𝐚𝐫𝐧 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐛𝐞𝐬𝐭 - It is better to work with the other experts in your field before going it alone. Those experts have more experience than you, and they might be faced to many failures and they had overcome those and turned them into opportunities. Finding a well experienced, suitable mentor is a good opportunity for the entrepreneur to succeed in their journey. That mentor may even have made mistakes and you can learn from them.

𝐒𝐭𝐚𝐲 𝐡𝐮𝐧𝐠𝐫𝐲 𝐚𝐧𝐝 𝐚𝐦𝐛𝐢𝐭𝐢𝐨𝐮𝐬 – Running a successful business is not an ego trip for successful entrepreneurs. They desire to grow and provide better products or services to their customers. That keeps them hungry and ambitious. It is essential to have hungry in learning new things, in order to be a successful entrepreneur.

𝐍𝐞𝐯𝐞𝐫 𝐬𝐭𝐚𝐧𝐝 𝐬𝐭𝐢𝐥𝐥; 𝐞𝐯𝐨𝐥𝐯𝐞 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐭𝐢𝐦𝐞𝐬- A successful entrepreneur requires business agility, with the ability to learn and adapt to new things. Such as methods, technology, etc. Market needs have always been dynamic. Both the business and consumer worlds keep changing always. It is essential to satisfy evolving market needs in designing to develop a product.

𝐍𝐮𝐫𝐭𝐮𝐫𝐞 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐫𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬 - Business relationships are essential to become a successful entrepreneur. Business relationships among entrepreneurs within your industry is one key to the success of your business journey. It also includes access to finance too. Every entrepreneur needs to have opportunities to uplift their business. By nurturing relationships with private investors, venture capitalists and even banks can get financial support to run your business.

𝐈𝐧𝐬𝐩𝐢𝐫𝐞 𝐭𝐡𝐨𝐬𝐞 𝐚𝐫𝐨𝐮𝐧𝐝 𝐲𝐨𝐮 – The most successful entrepreneur may be not good at everything. He also needs some complement about his skills from the people around him. It is good to have people who share your passion and vision in your team. By inspiring and investing in your team, not only will they succeed but the business itself will too.

𝐓𝐫𝐮𝐬𝐭 𝐲𝐨𝐮𝐫 𝐠𝐮𝐭𝐬 𝐢𝐧𝐬𝐭𝐢𝐧𝐜𝐭, 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐲𝐨𝐮𝐫 𝐬𝐩𝐫𝐞𝐚𝐝𝐬𝐡𝐞𝐞𝐭𝐬 - No one knows as much about your business as you do. In some cases, your gut instincts and heart are still your very best guide for decision making.

04th August 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #𝟎𝟒

𝐖𝐢𝐥𝐥 𝐭𝐡𝐞 𝐦𝐨𝐝𝐞𝐫𝐧 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐭𝐡𝐞𝐨𝐫𝐞𝐦 𝐛𝐞 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐒𝐫𝐢 𝐋𝐚𝐧𝐤𝐚𝐧 𝐞𝐜𝐨𝐧𝐨𝐦𝐲 ?

𝑏𝑦 𝐾𝑢𝑠𝑎𝑙 𝑆𝑒𝑛𝑎𝑟𝑎𝑡ℎ 𝐵𝑎𝑛𝑑𝑎𝑟𝑎

According to the Sri Lankan context, economical fluctuations mainly depend on the political decisions which are taken by the government. In such a kind of situation, sometimes the investment that people are making can be entered into endangered zone also some can be destroyed. Having said that any type of business person has to face some kind of risks before investing in the economy in order to make a profit. Beyond the traditional methods which have been used around 19 and 20 centuries, the new well-planned theories are introduced to the world internationally.

Nevertheless, there are some vast possibilities to raise some issues if the native entrepreneurs tend to follow up international theorems directly. In order to build up a strong business, the businessperson has to choose a correct business plan and modify it according to the Sri Lankan economical culture and it should be varied with the updates of the daily economical states.

Another problem that the young, as well as the well-experienced native businesspersons, also face is identifying the correct theorem for applying their investments. In order to minimize this risk and make some reliability towards the businesses, the Portfolio theory was introduced by Harry Markowitz in 1952.

Here, the diversification of investing in different types of stocks at one time is the basic principle. Diversification should be done by investing the low correlation stocks and businesses. When the correlations get low, the possibility of bankrupting getting low since when one goes down others can cover until the downwards one get stabled. These types of low correlation portfolios are called optimal portfolios. When we compare the risk and return in this kind of optimal portfolio, the coefficient factor is always increasing but it displays a convex shape graph. That means, when the risk is getting high, the rate of gaining return becomes low.

How we can apply this simple theory to the Sri Lankan economy?. First, we have to find some capital. Assume that you are at a zero money-making level. To gain some kind of capital, you have to demand or use on or many of the talents you have got. You have to create a demand for your talent and accept the opportunities that you will get. Also when you are earning the money, always should try to make grew what you earn. Investing in different kinds of areas is safer than investing in various functions in one sector.

If we take the hotel and the tourism sector, it has partially bankrupted due to the Covid-19 pandemic situation as well as the incidents that happened in the past two years. In such kind of situation, if someone has already invested in this sector, he has to find some alternatives to rescue the invested money and earn some profit for the persistency of business. So, the investments of assets and initiation of businesses should deviate from many sides. As an example, many leading companies, are following the “Group” concept. They chose different economic sectors which relate to Sri Lankan culture and initiate some different company groups. As an example, every leading company in Sri Lanka invests or partially correlates the Agriculture and Food sector of Sri Lanka. Since Sri Lanka is an Agricultural country, the wise decision that anyone can make is investing or approaching the agriculture sector.

When we talk about the effectiveness of portfolio theory in Sri Lanka, there are many advantages and disadvantages. As Sri Lankan people is having a low level of investment spirit, it may help to evaluate and manage risks. New young entrepreneurs at least can initiate and run out the business without breaking down in the Sri Lankan economy. In addition, this may lead to making a habit in the Sri Lankan community to do analyses and researchers in different economic areas. The young community can build their businesses rely on various investments and it will open new opportunities for them.

In case, this theory assumes that “there is a normal distribution of the return on an asset within a class of assets, which is proved to be wrong for individual equities as the correlations of asset class may change over the period.”[WallStreetMojo]. So, it may lead to making incorrect precautions.

As an overall conclusion, this theory can be identified as very relative to the Sri Lankan economy and if the assumptions and selections would be made and the risk analysis would be done by using the correct level of addition in past experiences and future predictions, definitely the huge number of benefits can be generated.

19th July 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #𝟎𝟑

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 එකක් ගැන හිතුවට මේ දේවල් ගැන හිතුවද?

සටහන : අමල්ක රවිහාර් කලන්සූරිය

ව්‍යාපාර ක්ෂේත්‍රය යනු දිනෙන් දින නව්‍යකරණය වෙමින් දියුණුවන විෂය ක්ෂේත්‍රයකි. කාලානුරූපව නව සංකල්ප සහ අදහස් පාදක කරගනිමින් ව්‍යාපාර ලෝකය තුල හිනිපෙත්ත කරා ගමන් කරන ව්‍යවසායකයින් අද සමාජය තුල බහුලය. නමුත් නොසිතූ විරූ ලෙස දැවැන්ත ව්‍යාපාර බංකොලොත් තත්වයට ඇදවෙටන සිදුවීම් පවා වර්තමාන සමාජය තුල වාර්තා වෙයි. කෙටිකාලීනව ලාභ ඉපයුවද නිසි සැලසුම්කරණයක් සහ කළමනාකරණයක් නොමැතිකම නිසා ව්‍යාපාර ක්ෂේත්‍රය තුල ස්ථාවර වීමට ඔවුන් අපොහොසත් වී ඇත. එම නිසා ව්‍යාපාරයක් ආරම්භ කිරීමට ප්‍රථම නිසි සැලසුමකට අදාලව ස්වකීය ව්‍යාපරය ගොඩනගාගැනීම කාලීන අවශ්‍යතාවයකි.

ව්‍යාපාරයක පදනම එහි නිෂ්පාදන ක්‍රියාවලියයි. නිෂ්පාදන ක්‍රියාවලිය යනු මූලික සංරචක සතරක එකතුවකි. මෙම සාධක ආර්ථික විද්‍යාවේදී නිෂ්පාදන සාධක (Factors of Production ) ලෙස හැඳින්වෙයි.

1.භූමිය (Land)

2.ශ්‍රමය (Labour)

3.ප්‍රාග්ධනය (Capital)

4.ව්‍යවසායකත්වය ( Entrepreneurship)

උක්ත සාධක සියල්ල අඩු වැඩි වශයෙන් නිෂ්පාදන ක්‍රියාවලියක ඵලදායීතාව කෙරෙහි සෘජුවම බලපෑම් කරයි. මෙහිදී භූමිය (Land) යනු, තමා ආරම්භ කිරීමට බලාපොරොත්තු වන ව්‍යාපාරයට අදාල මූලික අවශ්‍යතා/අමුද්‍රව්‍ය සපයා ගන්නා ස්ථානය ලෙස සැකවින් සඳහන් කල හැක. පෘථිවි තලය මත පවතින ඛනිජ, ජලය, ගොඩබිම,සාගර, වනාන්තර සහ දේශගුණික සාධක යන මේ සියල්ල එක්ව ගත් කල භූමිය යන සංරචකය අර්ථ නිරූපණය වේ.

නිෂ්පාදන ක්‍රියාවලියේ අග්‍ර ඵලය භාණ්ඩ හා සේවා උත්පාදනය කිරීමයි. ඒ සඳහා කාලය, ශ්‍රමය වැයකරන පුද්ගලයින් ශ්‍රමය (Labour) යන සංරචකය යටතේ වර්ග කල හැක. ශ්‍රමය සමජාතීය නොවේ. එනම් එය එක් එක් පුද්ගලයාගේ විභවතාවය මත විචලනය වන පුද්ගලබද්ධ සාධකයකි. සාමාන්‍යයෙන් පුහුණු හා නුපුහුණු ශ්‍රමය යනුවෙන් වර්ගීකරණය කෙරෙනුවේ මෙම විභවතාවයට අනුකූලවය.

ප්‍රාග්ධනය (Capital) යනු අනාගත නිෂ්පාදන අපේක්ෂාවෙන් යොදාගනු ලබන සියලුම භාණ්ඩ හා උපකරණයි. නිදසුනක් ලෙස කර්මාන්තශාලාවක යන්ත්‍ර සූත්‍ර, කාර්‍යාලයීය පරිසරයක ගෘහභාණ්ඩ මේ යටතේ සාකච්ඡා කල හැක. එනම් මෙම සංරචකය දිගු කාලීන මෙන්ම ක්ෂය වීමට ලක්විය හැකි සංරචකයකි.

දැනට දශක කිහිපයක් තිස්සේ ලාංකීය සමාජය තුල ඉතා ජනප්‍රිය සංකල්පයකි; ව්‍යවසායකත්වය.(Entrepreneurship ) ව්‍යවසායකත්ව යනු පුද්ගලයා තුල ගොඩනගාගත යුතු නිපුණතාවයකි. එනම් නව ව්‍යාපාරයක් ආරම්භ කිරීම උදෙසා ගන්නා තීරණ සහ ඒවා සාක්ෂාත් කරගැනීමට ගනු ලබන අවදානම් මූලිකව මෙම ව්‍යවසායකත්වය තුලින් ගම්‍ය වේ.

ඉහත සාකච්ඡා කරන ලද සාධක සියල්ල සම්පූර්ණ නොකර සාර්ථක ව්‍යාපාරයක් කෙරෙහි සුභ සිහින දැකීම හිතලුවකි. උක්ත සාධකයන්ගේ මනා සම්බන්ධීකරණයකින් සහ කළමනාකරණයක් මඟින් සාර්ථක ව්‍යාපාරයක ශක්තිමත් පදනමක් තහවුරු කරගත හැක. තවද ආරම්භ කිරීමට බලාපොරොත්තුවන ව්‍යාපාරයෙහි ස්වභාවය මතද ඉහත සාධක සඳහා වන ප්‍රමුඛතාවය තීරණය වෙයි. අදාල ව්‍යාපාරය භාණ්ඩ නිෂ්පාදනය ප්‍රමුඛ කරගන්නේ නම්, භූමිය කළමනාකරණය ඉතා වැදගත්ය. එමෙන්ම අදාල ව්‍යාපාරය යම් සේවාවක් සැපයීම ඉලක්ක කර ගන්නේ නම්, ශ්‍රමය යන සාධකය පිළිබඳ මනා අවධානයක් යෙදිය යුතුය. මේ සියල්ල සාක්ෂාත් කරගැනීමට ප්‍රාග්ධනයෙන් සන්නද්ධ නිපුණ ව්‍යවසායකත්වයක් අවශ්‍යය.

සමස්තයක් ලෙස ගත් කල නිෂ්පාදන සාධක සියල්ල එකිනෙකට අන්තර් සම්බන්ධිතය. එමනිසා ව්‍යාපාරයක් ආරම්භ කිරිමට පෙර හොඳ අධ්‍යනයකින් අනතුරුව කටයුතු සිදුකරන්නේ නම් ශක්තිමත්,සාර්තක ව්‍යාපාරයක් ඔබට ගොඩනගාගත හැකිවනු නොඅනුමානය.

11th July 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #𝟎𝟐

𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥𝐢𝐬𝐦-𝐓𝐡𝐞 𝐰𝐚𝐲 𝐭𝐨 𝐩𝐫𝐨𝐬𝐩𝐞𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐬𝐨𝐯𝐞𝐫𝐞𝐢𝐠𝐧𝐭𝐲

𝒃𝒚 𝑼𝒅𝒆𝒏𝒂 𝑺𝒆𝒏𝒂𝒓𝒂𝒕𝒉𝒏𝒆

The ideology “economic nationalism” goes back at least to the late nineteenth century and its consequence has been subject to the transformational changes in the economy. The broad sense of this term dominates patriotism aspiration and emphasizes the essentiality in state interventionism over other trade mechanisms, with policy imposition regarding domestic control of the economy, labor, and capital formation.

In Economic nationalism industrialization is prominent in state policy framework, because of its’ significance effects on the progressive economic development, achieve the self-sufficiency and political stability of the country, and is a crucial aspect in strengthen military power.

Trade Protectionism policy instruments which are used in this ideology restrict importations, except with respect to products that are deemed essential and cannot be produced domestically due to insufficient resource availability. Furthermore these policies influenced on foreign direct investment and multilateral agreements. Decisions are made accordance with specific areas of national interests and propaganda.

At global context the United States, the European Union, China, India and Russia have actively used the unique protectionist economic measures to stimulate domestic industry in order to provide opportunities for being competitive in the international market. United Kingdom leaving the European Union, The “Make America Great” slogan and the economic decisions advocated by former white house chief strategist Steve .k.Bannon , Withdrawal support from international organizations and multilateral trade agreements during presidency of Mr.Donal Trump , developing approaches and heavy investments by China, Japan and Germany to promote Local production are recent trends in economic nationlism.

In addition, some developed countries have adhered slightly different economic nationalism approaches. For an example the United States of America imposed a trade Policy that prioritizes the interests of capital over the interests of workers but Great Britain and Germany has implemented another way by taking an active part in international business as well as supported their domestic industry and their workers.

In Ceylon from 56 victory the several governments were introduced nationalistic reforms such as establishment of corporations with public-private partnership ,nationalization of Transport ,banking , Petroleum, insurance and foreign trade as well as Lands over fifty acres . This was led the resurgence of national economy by creating momentum in Agricultural and Industrial Sectors. The COVID-19 pandemic undermines the Sri Lankan society by the recession of key sectors which highly contribute to national economy. Therefore on the window of opportunity that create with attention for “made in Sri Lanka” concept., employ economic nationalism, as a counterproductive fundamental strategy to form independent and self-sufficient economy of Sri Lanka is insistent. Moreover it may create countervailing power against economic sanction threats from Western countries.

8th July 2021

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐃𝐢𝐚𝐫𝐢𝐞𝐬 : 𝐄𝐩𝐢𝐬𝐨𝐝𝐞 #𝟎𝟏

𝐂𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐧 𝐚 𝐫𝐮𝐫𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐨𝐟 𝐒𝐫𝐢 𝐋𝐚𝐧𝐤𝐚

𝒃𝒚 𝑼𝒅𝒆𝒏𝒂 𝑺𝒆𝒏𝒂𝒓𝒂𝒕𝒉𝒏𝒆

The agricultural sector plays a major role in improving the rural economy and sustainable development in Sri Lanka . Sri Lankans have been adapted to Agriculture based economy thousands of years ago. During the colonial period the British were introduced plantation Agriculture. It became an important part of economy and set a base for commercial Agriculture. As minister of Agriculture and Lands under the state council of Ceylon honorable D.S. Senanayke initiated an effective program for agriculture development, which mainly focusing on paddy and other field crops production.

Implementing of large scale projects like Gal Oya, Mahaweli after granted independence in 1948 and measures based on economic populism which resulted uplifting the living standard of the rural community and growth of agricultural production.

Approximately 27.1% of the total population depends primarily on the agriculture sector for their livelihood. Agriculture contributes 7.4% of the total GDP (Gross Domestic Production) in 2020. In the year 2019 the value of agriculture exports was recorded as Rs. 440 billion. ( Central bank of Sri Lanka ,2020) . Interrelationship between the rural community and agricultural development is inseparable because the livelihood of 80% in the rural area population mainly based on crop production and related activities.

At the macro level, agro-based industries in rural areas decentralize and disperse industries and improve the village economy to self-sustainable. This had formed broad income flow within different layers of marketing channel, ameliorates living standards through the preferable business environment by creating a market, Provide stable income for farmers, Generate new employment opportunities and efficient utilization of raw materials So that implement specific approaches and policies on Agricultural development are essential for eliminating rural poverty by enhancing income sources and ensure food security of the nation. Ultimately the representative allocation of national development from the rural community can be increased.

Following are some suggestions to overcome constraints for rural agriculture development.

Introduce modern technologies on agricultural practices by extension and training programs
Introducing modern techniques improve the quality and quantity of the products which match the export standard like niche market and enable to minimize post-harvest losses, Effective utilization of byproducts, operate production and processing in Environmental Friendly manner. Extension officer should select appropriate teaching method to disseminate knowledge in clearly. This will consequently lead to the overall development of rural areas.
Introduce flexible management and marketing methods.
Flexible management and marketing methods should be introduced to profitable business and minimize factors affect to the Agriculture production and Price for example seasonality in production.
Development of the Infrastructure states.
Better road connectivity, Electricity supply, Telecommunication, Water supply and resources can be identified as the main sign of rural development. Those are linked with the Agriculture production and market.
Formulate an Institutional framework to make a conducive environment for rural farmers

An Institutional framework should be developed in a way that can retain more money on farmers’ hands and it should be updated timely. This must enable the integration of related groups or Agriculture and Agro-based industries to increase the availability of sufficient supply of inputs and utilize the output in efficient manner.

Financial Assistance and intervention to the pricing of Agriculture

Lack of capital is the major constrain to grow up village-level Agriculture and Agro-based industries. There is very little automation. Giving agricultural loans at reasonable rates to small and poor farmers will prevent exodus them from the agriculture. When a poor farmer is given financial assistance to purchase fertilizers, farm machinery, seed etc., it will consequently improve village economy and development. So need to establish a loan scheme with less interest rate.

Impose various measures by government to maintain farm prices through import restrictions, price freeze, price support and administered price or any other suitable regulations are essential in order to control the market Price on the behalf of both farmer and consumer.