Sri Lankan corporates urged to take risks

ECONOMYNEXT- Jim Lawless, an international keynote speaker, urged Sri Lankan businesses to grab opportunities and take risks at the inaugural forum held by the League of Multinational Corporates (LMNC), a consortium of multinational corporations operating in the country.

"I wonder why we set the bar so low? Do we have courage to take risk? Go into uncertainty?" Lawless, author of the bestselling book "Taming Tigers", challenged Sri Lankan corporate leaders attending the event themed “Conquering the Impossible”.

Lawless took up a challenge of becoming a professional race jockey within one year, competing with jockeys who had trained for the job since they were 5-6 years old.

Recently he broke the record for the first Briton to dive lower than 100 meters on a single breath.

He said he was always feeling the urge to give up, just like all people conditioned since birth not to take risks or tarnish their reputation.

However, Lawless advised Sri Lankan corporates to reach out to improve their businesses and industries in Sri Lanka without considering the reputational damage they may face if they fail, similar to the risks taken by him.

"Do we have courage to try even if we may fail, or do we not show up to keep our reputation safe?" he further questioned.

He said that in the current digital revolution, individuals or small companies with nothing to lose attitudes will take risks, innovate and disrupt traditional industries and processes.

"The world doesn’t wait. You have to take decisions," he said.

"Never give up. You know the time is coming. Build your friends, relatives, networks, your profit and loss, and political network."





"Or do we say market conditions and political conditions didn’t let me deliver 100 percent, so I just delivered 30 percent?"

LMNC Director Michael Koest said that the association was set up to promote progressive thinking, and enhance speed of implementing business processes in Sri Lanka.

 “The LMNC was formed for multinational corporates to come together and create a platform where the government and private organizations, in particular multinationals, can have open conversation around how we can improve things with regard to the business climate and how to increase investor confidence and make Sri Lanka an attractive place for Foreign Direct Investment," he said.

It was formed in 2018 with seven multinationals Baur & Co, Ceylon Tobacco Company, Heineken, HSBC, Lanka IOC, Mastercard and Unilever. (Colombo/Oct11/2018)


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