Lanka needs to develop nation brand
Ramani KANGARAARACHCHI
Sri Lanka must develop the nation brand leveraging on competitive
advantages, Brand Finance PLC, UK, CEO David Haigh said.
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David Haigh |
Speaking at a CEOs Breakfast Forum on Business Value Creation Through
Brands he said the role of the Government in building this value brand
is very vital to capture a bigger share of the value chain.
He said intangible assets have tipped the scales over tangible assets
to create value for companies the world over.
“But, the management paradigm has not shifted in tandem with the
rising importance of intangible assets,” he said.
“One of the problems compounding this situation is the lack of widely
recognized and understood methods for measuring brand value. CEOs have
to understand the company heritage, needs, finance and personnel
resources when doing brand valuation.
It has to come from business strategy via marketing to brand
strategy,” Haigh said.
He emphasised on the role of CEOs in giving the strategic direction
and setting overall business strategy in their organisations which is
the basis for their brand strategy.
He said brands are the single largest category of intangible assets.
Referring to the latest rankings of global brands he said that if not
for proper valuation of intangible assets brands like Google could not
have been the second most valued brand in the world, whose assets are
largely intangible in nature.
He said new international standard, ISO 10668 is divided into three
stages as legal analysis, behavioural analysis and financial analysis.
The brands are valuable assets and brand equity affects all
stakeholders, therefore brand valuation reflects the future of the
company.
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