By Sabrina Zavahir
Competitive advantage in many instances depends on human resources management based strategies.
Recently, BMD spoke with a strategist who strongly believes in the significance of human capital.
He is Dian Gomes.
Dian Gomes who currently serves as the Honorary Consul of Georgia in Sri Lanka is also the former Chairman of Hela Clothing and former Group Director of the USD 3 billion conglomerate, MAS Holdings. A Fellow of the Chartered Institute of Management Accountants (UK), the Association of Chartered Certified Accountants (UK), and Certified Practicing Accountants (Australia), he received his Executive Education at Wharton, Ashridge, and Harvard business schools.
Dian was President of the Chartered Institute of Management Accountants (UK), Sri Lanka Division in 2001/2002 and an at present sits on the boards of Nestle Lanka PLC. and many other private and government organizations.
His interests saw him take over the Presidency of the Boxing Association of Sri Lanka from 2004-2009 and from 2017 to 2020. Dian was a Vice President of the National Olympic Committee and President of the National Fencing Association.
Currently, he is serving as a board director for both the International Boxing Association (IBA) and the Asian Boxing Confederation (ASBC). Renowned for his commitment to the development of sports across the country, Dian has represented Sri Lanka at numerous international sporting events and has won multiple global awards for his contribution.
His awards go beyond sports, as he has won a range of international awards for business and leadership, including Business Icon of the year 2012 at the CIMA Leadership awards. Dian was conferred with the third highest National Award bestowed to a Sri Lankan, the title of “Sri Lanka Sikhamani” by the President, Maithripala Sirisena at the National Honours Awards Ceremony in 2019.
Following are excerpts of an interview BMD had with Gomes.
Q : For entrepreneurship, a solid mental fortitude is considered essential. How did you secure these skills?
Mental fortitude is built over time and is never something that is handed over on a platter overnight. It is the experience of repeated failures, yet never giving up kind of attuned attitude. To be open to failure is a risk on its own, but there is no mental fortitude without constantly taking risks. So, to secure these skills, one must keep pushing the envelope and venturing into what others may call it a risk. It must be done with conviction and passion, regardless of the outcome.
Q : How did you master management skills?
Having headed the largest apparel company in South Asia for nearly three decades, I can assure you that navigating growth and change is no meagre feat. The complexity comes from the nature of the core business and it’s a time-sensitive volatility. As an example, missing the production deadline, result in air freight which is over seven times the cost of shipping. If this error occurs for multiple orders at a stretch, it could cause a domino effect that would cripple the company’s bottom line.
” The skills come only through action, sometimes the action is proactive and in other instances it is reactive; but speed makes all the difference”
To mitigate risk, and navigate these challenges we started initiatives such as lean management within the company wherever possible. So, I guess what we did was look at the issue in its most basic form and attempt all possible solutions. The skills come only through action, sometimes the action is proactive and in other instances it is reactive; but speed makes all the difference. Speed comes only with hard work and there is no substitute for that.
Q : In times of economic turbulence in a nation, sector heads in organizations should strike a balance between decisiveness and considerateness. Do you share the same opinion? If so how could it be implemented ?
Yes, today it is striking a fine balance between decisiveness and considerateness. If we look at Sri Lanka, the heads of organizations are facing a double-edged sword. There isn’t a way to come out unscathed, but there is a need to be focused towards a fine balance when evaluating changes. Consideration comes to play especially when downsizing, even though these decisions need to be made sooner rather than later. If I were in their shoes, I would consider alternate business opportunities that could be taken on with existing infrastructure and human resources and make necessary additions/new adjustments extremely rapidly . This way firms can stay afloat, not jeopardizing the livelihoods of their employees and hopefully, contribute to their bottom lines as well.
Q : ” Execution as Learning” is a phrase used in the new reality based context. Similarly, employees should be aware of new knowledge techniques along with new competencies. This operating mode if adapted, would it make companies be successful?
Definitely. As I said previously, action is always the best way forward. I strongly believe that employees of all ages would learn better by executing plans rather than repeatedly discussing those plans confined to board rooms. Following content posted by the most up-to-date entities and being well-read contributes to new knowledge. However execution, over a consistent period is what will lead establishments towards success.
Q : Ensuring a positive re-launch of economic activities will certainly take different openings in different business sectors in multiple ways also at different speeds. What sort of a view point would you share in steering practical strategies during this difficult environment towards business raises?
I have always believed in getting things done today and never leaving anything for tomorrow. If the office has not been swept I won’t hesitate to do it myself. So my view is very simple; it is to get going and do whatever needs to be done to do so. We must face reality, there is no doubt that it has not been a roller coaster ride and will remain an uphill climb, but attitude is everything. So what lies ahead is not for the weak-hearted, but for the executors who are not afraid of making mistakes. They should only be afraid of tardiness, slow work, and sticking to job descriptions.
Q : Is it a necessity to create strategies where it reinitiates a detailed based business map in a shattered economic surrounding for a solid business growth in a highly volatile environment?
Yes, because if you fail to plan- you plan to fail. In this context, it’s imperative that detailed plans are followed. Most importantly, having such comprehensive plans give clarity for execution. I believe I have already mentioned how crucial execution is. Calculated risks and timely action are the keys to growth in a highly volatile environment.
Q : With your industry expertise, what sort of a perspective would you share for business leaders to get at a positive head start on reassessing the available investments and prospects to take the initiative to change the geography of their establishments value chains ?
I think re-aligning is the need of the hour. Allocating existing resources to new business opportunities is the fastest way to ensure sustenance. If we look at the apparel industry, we undertook “PPE” gear manufacturing due to a pandemic-driven surge in global demand. With every challenge comes opportunity. Success and growth depend on how one taps into that opportunity as fast as possible.