Financial Times

Post-presidential polls
The challenges of facing reality
The people have spoken; at least those who wished willingly or unwillingly to speak. The reality is a new President, a new regime with a new political, economic and social agenda, and a new set of key decision makers in governance. There will be many changes in the business environment from that experienced over the past 25 years.

The JVP and the JHU will also be key forces impacting on economic and social policy and governance structures in the foreseeable future. The LTTE is also a reality. The probable action framework in the short to medium term that LTTE will take or will engineer the new government to take by their covert operations and coverage/capability outside directly controlled areas, will decide not only the security situation but also the economic and social outcomes in the decades to come.

The business leaders have many options in the emerging operating environment; Hide their heads in the sand like ostriches, ignore the new regime and the LTTE and operate as if the status quo continues, believe everything will be rosy and easy if you praise the new leadership and look for network links to get favours, or even assume the worst possible outcome and begin slowing investments and repatriating resources and capability.
These are options history bears evidence that the private sector took in the past.

A critic of the private sector said “remember how business leaders behaved when President Premadasa took office, pretending that this villager who knew nothing of modern governance did not exist, and avoided professional network support. The leading Chamber openly published a critical analysis of the 200 garment factory programme and tagged it as an economic disaster in the making”.

Charles Darwin once wrote: "In the struggle for survival, the fittest win out at the expense of their rivals because they succeed in adapting themselves best to their environment." Take a cue business leaders, it is time to adapt to the environment and achieve sustainable growth. It is time to scenario plan, watch out for signals indicating the probable macro scenario and have in place risk mitigation measures and strategic action plans to adapt and grow.

The options of business leaders, as true democrats, is to support the new regime, cooperate with them fully and make submissions on policy regimes and implementation priorities determined strictly adhering to the core values “nation and its people first, the private sector taken together second, sector priority interests third and individual member interests last”.

A former business leader expressed a view that the current generation of business leaders may not place the interests of the nation first. However, if a new set of village leaders already embedded with village values and ethos are invigorated and supported in developing their capability, these new generation leaders will drive Sri Lanka's destiny to the desired goals (a professional recently remembered a statement of a former US ambassador, “Sri Lanka by its own action is consistently fighting below its designated weight class.” - a malady these new leaders will eradicate).

At a recent book launch a member of the audience described the way forward to take Sri Lanka to its correct weight class. He said: “iron when exposed to the environment is damaged by corrosion. However, a material iron steel alloy, which is low in carbon but contains 16 to 26% chromium and 6 to 22% nickel referred to as the "austenitic," or non-magnetic stainless steel will not rust, and can stand higher temperatures and increases its tensile strength.

If the leaders who are chromium and nickel can strengthen the iron strong people, especially village youth, then Sri Lanka can look forward to a brighter future”.

At the same launch, a former business leader reminded that Mahathma Gandhi, according to a shop keeper in Lahore, has compared leaders who see evil deeds being done, hear evil words and not words of wisdom being spoken and close their eyes, ears and mouth in the face of such evil acts to monkeys and those who act in such instances to guide the citizens in the correct path as “gods”.

May the leaders of this nation, in governance, business, media and civil society fully endorse and support the new regime in all acts that adds value to the nation and its people whilst not hesitating to publicly speak out and act against any actions that detracts value.

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