Companies need to be flexible in chaotic situations

Ramani KANGARAARACHCHI

The world has become extremely chaotic and companies have to breakthrough to accommodate disorder to succeed in a destructive world, John Keells Group Finance Director Ronnie Peiris said.

John Keells Director Ronnie Peiris

Speaking at the 24th Chartered Accountant’s Conference at Hotel Galadari yesterday under the theme of “Thrive in Chaos” he said a lot of things will be done without predictability in the future.

“Organizations will have to deal with weird people. Therefore ordinary minds will not be able to deal with chaotic situations unless they do things methodically. “We have to destruct our ordinary minds and bring disorder to sustain in chaotic situations”, he said.

Peiris said chaotic situations provide opportunities but it needs proper handling and looking at different aspects. Taking an example he said many investors are inquisitive to start businesses in Jaffna now but are not looking at the real opportunities.

Peiris said that many companies are unable to change their 30 year mind set but said they need to be flexible and take several steps in chaotic situations.

“First of all it is necessary to create democracy in organizations. Companies must encourage free and fair communication instead of the earlier method of scaring them to retain power among a few key people.

Companies also must keep their break even point as low as possible and make use of new technology.

“Be ready for the unseen, benchmark against unknown opponents and not the person below you,” he said. Peiris said companies must look for talented people as the human resource is the most valuable asset where the capacity is unlimited.

Motivated people in the right culture who can finish the work successfully must be hired by companies. People must keep innovating.

“Those who can tolerate failure only can take this risk”, he said.