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 |