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Sunday, 12 April 2015

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'Sustainability vital for business development'

Sustainability is very important in today's context of business. Perhaps more important than running the government. The need of the hour is to minimise environmental degradation which we hear of from the Port City and Highway projects, Managing Director and CEO, N'able (Pvt) Ltd, Peter de Almeida told the Business and Technology Conference 2015.

The conference was organised by the Asia Pacific Institute of Information Technology (APIIT), Sri Lank, on the theme 'For a sustainable future' at the APIIT premises recently.

Sustainability in its widest sense is creativity which could change technology. Sustainability could be summed up as knowledge which could be shared to change technology.

Creative thinking could in fact change technology. Multinationals such as Kodak and Nokia suffered great setbacks as they failed to cater to the rising needs in society. However, Apple identified what the changing world needed and acted accordingly to become one of the mega cartels. When American Airlines could earn only a profit of 31 cents per passenger for a one-way flight, Google through its search engine did the same business but had an income of US $ 50 billion during the same year. This was a value capture of 21 percent.

Its tremendous success was due to creative thinking, he said.

Acting Director, Institute of Human Resource and Head of the Department of Business and Economics, University of Colombo, Prof. H.D. Karunaratne said, “We are aware that there are two main practices in universal law - change and natural law. Natural law exerts influence on the business sector. Sustainability is the key issue for an organisation."

"Economic resources are limited, but human needs and knowledge is unlimited. Knowledge is the main factor in economics and business discussions. In the contemporary world knowledge is one of the important things and research comes next. The concept of sustainability is to enhance and spread sustainable structures to improve the quality of life," he said.

CEO, APIIT Lanka, Dr. Athula Pitigala-Arachchi. said, "This is a forum for researchers in business and technology to present their findings and inspire each other. Research is an integral part of universities.

The discovery of knowledge (research) and the dissemination of knowledge (teaching) are two sides of the same coin. APIIT has taken a number of steps to encourage research. Annually, our faculty members publish several conference and journal papers," he said.

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