Pocket size potential for Sri Lanka says CIM’s Saunders

Saturday, 23 July 2011 01:03 - - {{hitsCtrl.values.hits}}

By Cheranka Mendis

Sri Lanka, with its diverse areas of industries, pocket-sized geography and creative minds can become the Sweden or Switzerland of Asia, Chartered Institute of Marketing (CIM) Emeritus Professor and Past Chairman of the Senate of CIM UK John Saunders told the Daily FT yesterday.

Saunders stated that the Sri Lankan companies are diverse in their operations; more so than the West which adds an interesting dimension to the country’s operations. “Here I see companies which integrate industries such as construction and tourism together. In the West it is more of tight focus whereas companies here are more diversified. I am to see how it works. It is quite fascinating,” Saunders said.

The country has great potential and what with Asia being identified as a dominant force within the next 20 years, Sri Lanka could become the next Sweden or Switzerland — a key player in the regional growth area. “There is so much potential here and with Sri Lanka being a small country it’s easily maneuverable and manageable. It is now a matter of finding your way.” Saunders observed, “Find the unique position. You are not going to be Germany.”

The next step is to attract and grow talent and skills within the community. “What will you do? Move from labour, from agriculture, to cheap manufacture?” he questioned, “it would be a good move but only for a short period. What needs to be looked at is talent in markets and creative dimensions.” Stating that Sri Lankans are known to be creative; Saunders asserted that such a move would elevate the country’s status if used wisely.

The country’s strength is the people, talent, natural spirit and a lot of enterprising, he said. “Talking about enterprise, almost everyone here owns a shop!” Saunders exclaimed, “Among them there might be a genius waiting to get out and become a multimillionaire.”

He pointed out that innovation and brand building is key for development. “Japan was nothing until they got Toyota. Korea was nothing until they got Samsung. Create value with branding and not copy from the existing brands. If you do copy you will be like China, in what I call a ‘night market.’ It’s cheap and you can find it elsewhere.”

“Sri Lanka shouldn’t be that. Build a brand. And the secret to that is copyright and ownership.” South East Asia has great strength and Sri Lanka is likely to profit from the overall growth as well as the country’s stand in moving forward. “You will entertain great results.”