Innovation, the key to success

By Sanjeevi Jayasuriya

Innovation is necessary to create and manage value addition. It will also support the ability to withstand various types of stress. Therefore, analysing market conditions and risk factors is important, said President, Institute of Chartered Accountants of Sri Lanka, Sujeewa Rajapakse at the launch of the 34th National Conference of Chartered Accountants last week in Colombo.

He said that innovation helps effective decision making and managing risk. “Businesses which are growing rapidly have realised that innovation is the key to success.

In a challenging environment, it is necessary to ‘think out of the box’ to make business grow. As there are numerous forms of innovation, business entities could benefit by adopting suitable methods,” he said.

The two-day national conference will be held from October 24-26 at the Waters Edge, Battaramulla, under the theme 'Innovate to Grow’. The conference is expected to be a platform to deliberate how the business community could achieve targeted growth.

“We expect over 1,000 participants and there will be a web telecast to ensure that a wider audience could access the conference sessions. Mobitel will partner the Chartered Institute to provide the web telecast,” Rajapakse said.

Innovation is one of the most powerful ways to drive business growth in today’s challenging economic environment and we are hopeful that this national conference will cater to today’s needs of the business community, he said.