Sri Lanka firms have to change, connect with the world to face the future

Oct 04, 2013 (LBO) – Sri Lankan firms will have to face changes sweeping across the world and by becoming more connected firms can be successful in the future, participants of the business forum in Colombo said. But the current trend was a mixture of modern and traditional values. But ‘Modtradi’ trend will also change.

“We have to move away from the island mentality,” Faizal Salieh, the managing director of Amana Bank told LBR LBO Summitin Building Future Ready Enterprises.

“If you do not have that connection the future will overtake you.”

The mobile phone was not invented in Sri Lanka, Salieh said but it was changing the lives of farmers to fishermen.

Salieh said technology was going to transform people’s lives and the way businesses operate.

People will wear clothes with sensors, and even now technology was being developed to implant sensors in people.

Technology has already blurred the separation between the workplace and home and the cities will also change in the future, Salieh said.

Malik Fernando, director of Dilmah, a Ceylon Tea marketing firm said, social media was bringing brands closer to customers.

Customers also had power to make or break brands.