Home / Management/ KPMG Family Business and Board Governance team on ‘Tackling the Next Wave’

KPMG Family Business and Board Governance team on ‘Tackling the Next Wave’

Comments / {{hitsCtrl.values.hits}} Views / Friday, 20 July 2018 00:00


KPMG Sri Lanka hosted a workshop for family business owners on 13 July at Galadari Hotel, Colombo. The event, which focused on ‘Tackling the Next Wave,’ was an interactive workshop with over 100 participants, comprising owners of key family businesses who are the driving force of our economy.

The workshop was presented and coordinated by the KPMG Family Business & Board Governance team comprising of Thamali Rodrigo (Partner, Audit and Family Business Planning) and Pyumi Sumanasekara (Director, Family Business and Board Governance). Suren Rajakarier (Partner, Head of Audit and Board Governance) highlighted the importance of ensuring that a proactive and complete solution is implemented by each family business to secure its consistent growth.

With many years of experience in this field, locally and globally, the KPMG Sri Lanka team has assisted a number of local clients to successfully manage both family dynamics and business growth.

KPMG Sri Lanka Family Business and Board Governance team’s vast experience, be it in terms of first-generational or multi-generational clients, conglomerates or standalone companies, puts the firm in a unique position to understand predictable challenges in any family business. The recognition of the existence of such challenges, and their capability to completely debilitate a business, prompted the team to host such a workshop with the intention of educating existing family businesses of the plight they may face if they fail to be proactive about their own upcoming ‘waves’. 

Rodrigo and Sumanasekara curated a couple of case studies (or ‘stories’, as they called it), which were specially designed by them to cover common challenges that were faced by a majority of family businesses the world over. 

The content for the case studies were based on the most common real life situations that the KPMG Sri Lanka Family Business and Board Governance team had encountered through their years of experience. The carefully designed case studies focused on an array of issues, ranging from succession planning, to family conflicts, to poor exit strategies, all of which narrowed down to how these challenges or ‘waves’ should ideally be overcome.

Unlike traditional monologues, the workshop was interactive and provided participants the opportunity to benefit from experiential learning. Participants were asked to provide their own opinions on the characters within the case study, as well as their perspective on how the issues might have been solved. This was done through group activities and role playing, all of which created a comfortable and enjoyable environment for the participants, whilst also ensuring that they were engaged throughout the session. 

The event was well received, with participants providing fantastic feedback on the structure of the workshop. Many family business owners stated that the session allowed them to realise the importance of appropriate family business governance, and that it is an area within their own family businesses which required attention.

The KPMG Sri Lanka team recognises the growing importance of planning for inevitable waves through appropriate family business and board governance to ensure longevity of family businesses in Sri Lanka, which will ultimately contribute towards the increasing strength of the economy. With over 85% of local businesses being governed by families, KPMG Sri Lanka has identified this as an area which cannot be neglected and is committed to providing its unparalleled service to its clientele.

Share This Article

Facebook Twitter


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Smaller electoral units needed to serve the people better

Tuesday, 21 May 2019

This article is the third in a series of articles on delimitation. Following on the second article, ‘Implementing key principles in the delimitation of electoral boundaries in Sri Lanka’ (Sunday Island and Sunday Times of 9 December 2018 and

Developing a Politi-Compass – A challenge to political scientists and media moguls

Tuesday, 21 May 2019

Democracy Democracy is a double-edged sword. If one wields it too aggressively, it will inflict self-injuries. Democratic freedom is not akin to the freedom enjoyed by a wild donkey. One can exercise own human rights to the extent that the behaviour

EFL charting course towards sustainable logistics industry with voluntary ISO 14064 Certification

Tuesday, 21 May 2019

Recommitting itself to effective climate action in accordance with United Nations Sustainable Development Goals (UNSDG), leading global logistics service provider Expolanka Freight Ltd. (EFL) announced that it secured ISO 14064 Certification on Green

Logistics is not… transportation

Tuesday, 21 May 2019

Google it. Go for a lecture or attend a seminar, mostly one will notice the first picture that appears or explains logistics would be a ship, an airplane, truck or railway connecting two places via transport networks. Ask a managing director what log

Columnists More