Value and cost management vital - PIM director

A business organisation cannot manage the bottom line nor the top line. What it can manage is the topmost line which is the customer. It is the customer's perceptions of the value and price that determines the top line, said Director, Post Graduate Institute of Management, (PIM) University of Sri Jayewardenepura, Dr. Uditha Liyanage.

He was addressing a seminar on 'Corporate Bottom Line Management' organised by the Society of Certified Management Accountants of Sri Lanka (CMA).

Dr. Liyanage said what is important is value and cost management and not bottom line management. The primary difference is about managing drivers rather than outcomes.

"If a business organisation tries to manage outcomes such as the top line which is the revenue line it is similar to driving a car blindfolded and following directions given by a person who is looking out of the back window", he said.

PIM's aim is to make business learning action oriented. Our programs are not only to help managers to develop their personalities but also to help them to gather the relevant knowledge and skills that will help add value to their organisations.

He said innovation management and creating new markets with international business management are some of the key areas of the MBA program.

President, CMA Sri Lanka, Prof. Lakshman R. Watawala said the CMA recalls with gratitude the technical assistance of CMA Canada and financial assistance of CIDA extended to provide affordable education to the youth of Sri Lanka.

Financial and management accountants play a vital role in the decision making ad operational process of a business organisation. CMA's objectives are to help organisations to develop their bottom line, enhance performance and meet challenges while building corporate relations.

He said the institution is committed to help youth to develop their management skills and be professionals.

CMA is considering incorporation under the Ministry of Trade and Marketing Services to be similar to a Chartered institute which gives a better status and recognition.

LF