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Business
schools: The debate grows By Thushara
Matthias and Suren Gnanaraj The CIMA division
in Sri Lanka says that in developing nations such as Sri Lanka it
is impossible to maintain the required international student/teacher
ratio of having just 25 students in a class and still charge fees
in the range of Rs. 30,000-Rs. 45,000 per student. Damayanthi Seneviratne,
student development manager for CIMA division in Sri Lanka says,
"Our local students have surprisingly performed much better
than Malaysia, which has two 'Quality Standards' (QS) level institutes,
which is a higher accreditation than the 'Threshold Level'. The
CIMA Division is currently preparing to make an appeal to CIMA UK
seeking exemption from the requirement for a maximum number of 25
students for every teacher, in order to grant local institutes the
'QS Level'. J.M.U.B. Jayasekera,
managing director of the Jayasekera Management Centre (JMC), says
that an official licence must be issued to all institutes after
an inspection of their facilities to ensure quality. "I have
made a few recommendations to the authorities to set up a comprehensive
professional education control board, but so far, nothing has come
out of it." He says it is unfortunate that the poor man would
have to suffer in silence, because they seem ever willing to sacrifice
the simple luxuries of life in exchange for an experienced panel
of lecturers. Therefore he stressed the need for all institutes
to be on the same level and to be regulated by a higher authority. Wisdom Business
Academy (WBA) managing director T. Saumiraj said that in a recent
survey they conducted, only 10 percent of the students were willing
to pay in the range of Rs. 30,000 in exchange for smaller classes.
"Others simply can't afford it," he said. Clancy Peiris,
director of academic affairs at WBA, said that due to the existing
competition between business schools, the fees per student studying
CIMA is in the range of Rs. 12,000-Rs. 14,000. "This means
that to break even, we have to get in the range of 80-90 students
a class, because education is a merit service rather than a business
venture." The two directors
were of the view that leading business schools needed to join hands
and form an association to address key issues concerning the standards
which must be reached by all institutes, in order to raise the quality
of education. Peiris said, "Competition is important, because
it brings out the true potential of the institute." However, they
feel that issues such as CIMA UK not providing more material for
Sri Lankan lecturers and the non-allocation of the QS level to institutes
on the grounds that the minimum student/teacher ratios are not met
with, have to be voiced in unison to achieve a positive result.
Peiris pointed out that the Sri Lanka CIMA division had no powers
to regulate institutes. When asked how successful they expected
such an association to be, Saumiraj said, "We recently appealed
to CIMA UK directly, stating that many institutes have been advertising
false pass rates with a view to attracting more students. CIMA UK
immediately responded by issuing a notice prohibiting all institutes
across the globe from advertising such pass rate percentages in
the future." It is timely for an association comprising of
business schools to collectively draft a code of ethics by which
all members could abide and create an atmosphere of fair competition,
Peiris said. The Colombo
Business School (CBS) has been providing CIMA education for the
last 20 years. Its promotional manager S. Paskaran said that an
association comprising all business institutes could never materialise.
"Some of the schools that have been set up in the last six
years are all break-away groups from pioneering institutes such
as CBS, and some even left due to various disputes they had with
us." He said that at present, the competition between business
schools is extremely high, which leaves no room to induce a code
of ethics, though it may be of paramount importance. He pointed
out that inaccurate and misleading advertisements by some competitors
is potentially harmful to vulnerable students such as school leavers,
who are likely to fall prey to such marketing gimmicks. "CIMA
UK has in its code of ethics, prohibited any institute from using
the official CIMA logo in any advertising material in both the electronic
and print media. However, some of the institutes indulge in such
anti-competitive practices and continue to mislead the masses. In
our seminars that we conduct in schools, we try to educate students
about such misleading advertising and increase their knowledge about
following a professional qualification such as CIMA," Paskaran
said. Wasantha Fernando,
lecturer and director at the Academy of Business Studies (ABS),
said that if such an association is formed they would support it
one hundred percent. "ABS was set up to give the students the
best possible facilities, and we will definitely support any plans
that will ensure that all Sri Lanka CIMA students will be assured
of a high quality education." Being the only private institute
to be accredited to conduct Computer Based Assessments for CIMA
stage one, ABS directors were, however, doubtful as to whether such
an association would ever be formed. "There is cutthroat competition
going on between business schools. Recently we had a student who
belonged to another institute, join our classes, and he was carrying
out promotional activity for his own institute inside our building."
He says that such incidents make it harder for institutes to come
together. Fernando says that ABS has been conducting seminars in
schools on the CIMA qualification, and enlightening students on
what they ought to get from an institute of their choice. "We
don't promote our institute but leave that choice purely to the
student." S. Loganathan
of the Institute of Academic Studies (IAS), which has not acquired
the basic "Threshold Level", said that the choice is purely
with the students, as far as luxuries are concerned. He says that
students seeking comforts such as air-conditioned classrooms are
free to pay more and join such institutes, while others can opt
for better lecturers in institutes that provide the minimum facilities.
Loganathan said he supports the establishment of a regulatory authority
to monitor the lecturers of institutes who stand between a student's
success and failure. Though many institutes have felt the need for an association and a code of ethics, with which all business schools should comply, some schools believe that it would not be beneficial to either party due to the fierce rivalry that exists between them. Since a higher regulatory authority does not seem to be a possibility, at least in the distant future, and the CIMA Sri Lanka division seems unable to intervene in the affairs of institutes, it would benefit business schools on a long-term basis if they came together on a common platform. Such an association could be crucial in providing students with the best education. Chamber
denies plan to privatise state universities "There
seems to be some perception that the private sector is more oriented
towards the privatisation of universities. Our Chamber or the private
sectors we represent have never ever made proposals that state universities
should be privatised," said W.T. Ellawala, Vice Chairman of
the chamber's Human Resource Development and Education sub-committee. "That
is not our agenda," he told a recent seminar on education reforms
organised by the chamber, the Konrad Adenauer Foundation and the
Centre for Policy Alternatives. Its aim was
to provide an opportunity for civil and business groups to interact
on the subject of education reforms and to "strike the balance
between value-based and market-oriented education". However, Ellawala
said they would like to see private universities being set up alongside
state universities. "Because
we believe strongly in the concept of choice for the student,"
he said. "We have never, nor will we ever suggest the privatisation
of the existing university system." Ellawala said
they were also trying to identify what the universities can offer
the private sector, adding: "We'd like to say that we are prepared
to pay what it costs." Minister of
Human Resources Development, Education and Cultural Affairs Karunasena
Kodittuwakku said that the World Bank would channel around $10 million
into Sri Lanka for English education. The government also plans to establish a separate school for IT education and, by 2004 promote IT education in around 500 schools through foreign funding. (RC) SriLankan
pilots granted "bad weather" landing rights The CAT III
B status is the highest rating for landing in poor visibility and
bad weather allowing a complete instrument- based landing with zero
visibility. The rating which is possibly a first for a South Asian
airline adds another star to SriLankan Airlines as it would now
be able to avoid costly diversions and be ranked among other major
international airlines. Earlier the airlines had to face restricted
landing conditions at some of the major European destinations, Dubai
and New Delhi and directed to alternate destinations due to bad
weather conditions. A diverted
flight means that the aircraft incurs additional costs as high as
$50,000 and loses credibility with the passengers it carries. The
status also opens doors for code sharing arrangements with some
of the other major international airlines which otherwise have not
been ready for lack of this status. The airline up to now has been
averaging around 10 diversions per year. "We are looking forward
to being put to the test when we face the winter season this year"
said Captain Milinda Ratnayake, Manager Flight Operations, referring
to the new achievement. He was of the view that this is a severe
test of a pilot's capability since a pilot must be able to land
the aircraft even if unable to see the runway at ground level. Sri Lankan's
fleet of 180 pilots are now being sent in batches for simulator
training to Singapore where they undergo training and are tested
for their capability to handle the aircrafts in simulated inclement
weather conditions before each pilot is approved. The CAT III status
also comes at a major cost of maintaining its validity whereby the
pilots have to go through a simulator session every six months.
Looking back at the development of the pilots of the SriLankan fleet, Captain Ratnayake said the pilots and aircrafts are optimised both technically and operational skill wise, becoming on par with other major international airlines. Some of the former pilots of the airlines now serve in some of the major airlines such as Singapore Airlines. Cashew
project runs into environmental storm The project,
costing approximately Rs. 4.5 billion ($50 million), is aimed at
raising the level of cashew exports and increasing yields through
the use of high tech equipment and knowledge. The estimated
yield per tree ranges from 40-45,000 kg per annum. Under the project,
two cashew processing plants will be built. The plan has
drawn concern from environmentalists who say it could result in
an unnecessary human-elephant conflict since Vilachchiya is a crucial
elephant migration route. W.K.K. Kumarasiri,
Secretary, Ministry of Lands, said the ministry had requested the
promoters to carry out an Environmental Impact Assessment (EIA)
for a final assessment of the project by the ministry. Spokespersons
for the Forest Department, Department of Wildlife Conservation,
Ministry of Forestry and Environment and the Central Environmental
Authority also confirmed they would scrutinise the EIA before taking
a decision on the approval of the project. Jagath Gunawardena,
a top environmentalist and President of the Environmental Education
Society, says the project could have some serious effects on the
environment. "Although
the project report has referred to importing electric fences from
New Zealand to remedy this problem, New Zealand does not have elephants.
Therefore,
it seems ridiculous to import electric fences to ward off elephants
from a country that doesn't even use them," he added. He said another serious threat to the environment could be caused by mechanically clearing this area as, this particular "type of soil from the dry zone, hardens quickly and once exposed will lose the little nutrients and moisture it has within, due to evaporation." Ex-Central
Bankers form development bank Among the major
projects the bank, called Isuru Savings and Development Bank, is
considering setting up are Development Marketing Centres and a weekly
'pola' system in order to help the rural sector. The majority
of shareholders of the proposed bank are those who left the Central
Bank under a voluntary retirement scheme (VRS), said a spokesman
for the Central Bank Voluntary Retirees' Association. Presently,
over 300 members have already subscribed to the required capital
of the bank out of their retirement benefits and compensation received
under the VRS. The retirees
have already invested around Rs. 150 million, 75 percent of the
minimum capital of Rs. 225 million required of a development bank.
Alliance Capital
Ltd, a subsidiary of Capital Asia, has agreed to get private funding
for the remaining 25 percent of the required capital. The promoters
presently do not have any idea of becoming a commercial bank as
the minimum capital required is Rs. 500 million but said they may
consider doing so in the future. Most of the
preliminary work, which includes advertising and share placement
fees, has been done at a minimal cost of Rs. 55,000 in comparison
to the usual cost of Rs. 6-7 million. This was mainly due to the
voluntary services of the members of the Association. The promoters
are awaiting approval for their banking licence from the Central
Bank's Monetary Board. The National
Chamber of Commerce has given out an office for the project at a
minimal cost. The eight-member Director Board will comprise professionals in the field of commercial, development and central banking, a senior Sri Lanka Administrative Service officer and a leading businessman. Their identities were not immediately available. (RC) Sri
Lankan non-traditional exporter goes public Tess Agro together
with its subsidiary, Tropic Fisheries, exports high grade Sashimi
to Japan, and high value fruits like cantaloupes and packeted fish
to large European retailers such as Sainsbury's and TESCO. "The planned
expansion is based on the huge potential in the local and international
market for fish, fruits and vegetables," the company said in
a statement. Per capita
consumption of fish in Sri Lanka is 17 kg per annum compared to
160 kg per annum in the Maldives. Fishing in Sri Lanka is restricted
by the industry's lack of technology for deep-sea fishing, resulting
in lower supplies and higher prices. Shiran Fernando, Director, Tess Agro and Tropical Fisheries, said the company through its subsidiary, Tropic Fisheries, intends to change these trends and take advantage of the huge untapped potential of Sri Lankan waters to meet the huge international and local demand for fish. Tess Agro is Emirates Sky Cargo's second largest customer. The company was established in 1980 and in 1994/95 received the prestigious Entrepreneur of the Year Award. Tropic Fisheries is a BOI company that pioneered deep sea fishing in Sri Lanka, and is the only locally owned and operated deep sea fishing venture utilising sophisticated fishing practices of the Japanese and Koreans to harvest high grade Sashimi fish. Currently Tess Agro operates over 90 deep-sea fishing vessels. |
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