One on One with Daham Gunasena

ONE ON ONE WITH DAHAM GUNASENA

Daham is an experienced corporate leader with many decades of FMCG specialisation in his belt. He is also the winner of "Best CFO award" by CA Sri Lanka. Daham currently act as the Chief Operating Officer at Ceylon Biscuits Limited. Worldbizbread had the privilege of doing a one on one session with him on various interesting topics.

1. What type of a leader are you?

I see myself as a collaborative leader. I believe in working closely with my team, valuing everyone's input, and fostering a culture of open communication. I aim to inspire and motivate my colleagues, encouraging them to bring their best ideas forward. Ultimately, I strive to create a positive and productive work environment where everyone feels empowered to contribute to our shared success.

2. What is the main personal quality that led towards success in your career journey?

I believe resilience has been a key personal quality that has fuelled my success in my career journey. In the fast-paced and dynamic world of FMCG, challenges are inevitable. The ability to bounce back from setbacks, learn from experiences, and stay determined in the face of obstacles has been crucial. It's not just about overcoming difficulties but using them as opportunities for growth. This mindset has not only helped me navigate the complexities of the industry but has also shaped my approach to leadership, enabling me to guide my team through various situations with a positive and forward-thinking perspective.

3. If you meet your version 20 years younger what advice would you give?

If I could go back and advise my 20-year-old self, I would emphasize the importance of continuous learning and adaptability. The business landscape is ever evolving, and the ability to embrace change and acquire new skills is invaluable. Don't be afraid to step out of your comfort zone, take on challenges, and view setbacks as opportunities to grow. Build a strong network, seek mentors, and always strive for a balance between ambition and patience. Remember, success is a journey, not a destination, so save every experience, and don't forget to enjoy the process along the way.

4. What is your take on Economy? Can Sri Lanka come out of this crisis?

Sri Lanka's economy is going through a tough time. Things got worse in 2022 and 2023 with a big drop in economic activity, causing many people to lose their jobs and pushing up poverty. The government is facing challenges in dealing with the situation, especially because of the high amount of money it owes to other countries. Fixing this debt issue is complicated and might take a while.

The value of Sri Lanka's money, the rupee, has fallen a lot. This makes imported stuff more expensive and causes prices to go up, making it hard for businesses to make plans and get money.

But Sri Lankans are known for being strong and hardworking. That gives me hope that people and businesses can find new ways to deal with these problems. Also, Sri Lanka has good potential for growth in tourism, transportation, and other areas because of its location and diverse landscape.

The government is trying to do some things to fix the crisis, like changing how state-owned companies work and making some industries more open. If these changes work well, they could attract money from other countries and boost the economy.

Organizations like the International Monetary Fund are helping Sri Lanka with money and expertise. This support can stabilize the economy and make it easier for businesses to do well.

So, can Sri Lanka get out of this tough situation? Yes, it's possible, but everyone – the government, businesses, and regular people – needs to work together. Here are some important things that can help:

· Debt restructuring: Reaching a sustainable debt solution with creditors is crucial. This will provide much-needed fiscal space for the government to invest in critical areas and foster economic growth.

· Political stability: A stable and transparent political environment is essential for attracting foreign investment and building business confidence.

· Structural reforms: Implementing reforms to improve the business climate, reduce corruption, and enhance efficiency will be necessary to boost productivity and competitiveness.

· Focus on key sectors: Investing in tourism, technology, agriculture, and renewable energy can create new jobs and promote sustainable growth.

5. What are your tips for time management?

As a fellow business leader, I understand the constant struggle for time management. Here are some tips that have helped me optimize my daily routines and maximize productivity:

Prioritization and Planning

Start with clarity: Define your top 3 priorities for the day, week, and month. These should align with your long-term goals and business objectives.

Plan your day in advance: Block out time slots for specific tasks, including meetings, emails, focused work, and breaks.

Utilize scheduling tools: Invest in calendars, to-do lists, and project management apps to keep track of tasks, deadlines, and dependencies.

Focus and Optimization

Eliminate distractions: Minimize notifications, silence your phone during focused work sessions, and close unnecessary tabs on your computer.

Embrace batching: Group similar tasks together to minimize context switching and maximize efficiency. For example, answer all emails at once instead of intermittently throughout the day.

Delegate and outsource: Don't be afraid to delegate tasks to team members or outsource non-essential activities. This will free up your time for more strategic work.

Maintaining Energy and Well-being

Schedule breaks: Regular breaks throughout the day are crucial for mental clarity and energy. Step away from your desk, take a walk, or do some stretching exercises.

Prioritize sleep: Aim for 7-8 hours of quality sleep each night. This will boost your focus, memory, and decision-making capabilities.

Maintain a healthy lifestyle: Exercise regularly, eat nutritious meals, and take time for hobbies you enjoy. A balanced lifestyle will lead to better overall well-being and productivity.

Additional Tips

Learn to say no: Don't overload yourself with commitments. Respectfully decline requests that don't align with your priorities.

Regularly review and adapt: Analyse your daily routines and track your time usage. Identify areas for improvement and adjust your plan accordingly.

Set realistic goals: Don't try to do too much at once. Break down large projects into smaller, manageable tasks and celebrate each milestone.

Remember, time management is a continuous process. Experiment with different approaches and find what works best for you. By prioritizing effectively, eliminating distractions, and maintaining well-being, you can optimize your time and achieve your business goals.

6. What is your philosophy on work life balance?

I believe in blending work and life seamlessly instead of trying to keep them strictly separate. In today's world, our personal and professional lives overlap, so it's more about finding a flexible balance. I use technology to work from different places, set realistic expectations, and create an environment where people can do well both at work and in their personal lives. It's about understanding that life is a mix of everything, and finding a way for it all to fit together well.

For instance, I might have a flexible work schedule that allows me to attend my son's school events during the day and catch up on work in the evening. This way, I'm not confined to a traditional 9-to-5 structure. By integrating work and life in this way, I find that I can be more present for my family while still meeting work commitments. It's about adapting to the ebb and flow of both work and personal responsibilities.

7. What is your take on climate change, what can SL corporates do better?

I strongly believe that addressing climate change is urgent and requires immediate attention. In Sri Lanka, businesses, especially in the FMCG sector, can play a crucial role in adopting sustainable practices. This involves reducing carbon footprints, promoting energy efficiency, and using eco-friendly packaging. Companies can invest in greener technologies, collaborate with stakeholders for a sustainable supply chain, and position themselves as responsible leaders in their communities. It's about making sustainability an integral part of our corporate identity for the long-term benefit of both our business and the planet.

The urgency of climate change is evident in Sri Lanka's vulnerability to sea level rise, extreme weather events, and water scarcity, posing risks to the economy, environment, and people. Immediate and collective action from governments, businesses, and individuals is essential.

Sri Lankan corporates can enhance their efforts by:

Reducing carbon footprint: Investing in renewable energy, improving energy efficiency, and minimizing reliance on fossil fuels.

Adopting sustainable practices: Implementing sustainable sourcing, waste reduction, and responsible consumption policies throughout their value chain.

Raising awareness and advocating for change: Educating employees and customers about climate change, supporting climate-friendly policies, and collaborating with stakeholders for systemic change.

While transitioning to a low-carbon economy requires significant investment, it also presents opportunities for innovation, job creation, and long-term competitiveness. Challenges in accessing financing and technical expertise can be addressed through international support mechanisms and public-private partnerships.

In conclusion, Sri Lankan corporates play a critical role in addressing climate change. Taking concrete steps to reduce emissions, adopt sustainable practices, and advocate for change can contribute to a resilient and sustainable future for Sri Lanka. I encourage you to learn more about climate change and explore how small actions can collectively make a positive impact.

8. What will be the impact from AI to your Core-discipline (Finance / Marketing)  

The impact of AI on core disciplines like Finance and Marketing can be significant. Here's a general overview for each:

Finance:

Automation of Routine Tasks:

AI can handle repetitive and rule-based tasks, such as data entry, transaction processing, and basic financial analysis. This allows finance professionals to focus on more strategic and complex aspects of their roles.

Data Analysis and Predictive Modelling:

AI algorithms can analyse vast amounts of financial data quickly, providing insights for better decision-making. Predictive modelling can assist in forecasting trends, risks, and market conditions.

Risk Management:

AI enhances risk assessment by analysing historical data to identify potential risks and trends. This is particularly valuable for predicting market fluctuations and optimizing investment strategies.

Fraud Detection:

AI can improve fraud detection mechanisms by identifying irregular patterns and anomalies in financial transactions, helping to enhance the security of financial systems.

Marketing:

Personalized Marketing:

AI enables marketers to analyse consumer behaviour and preferences, facilitating the creation of highly personalized marketing campaigns. This leads to more targeted and effective advertising.

Content Creation and Optimization:

AI tools can generate and optimize content, including ad copy, based on data-driven insights. This helps marketers create compelling and relevant content for their target audiences.

Customer Experience Enhancement:

AI-powered chatbots and virtual assistants can provide instant customer support, enhancing the overall customer experience. This technology can handle routine inquiries, leaving human agents to focus on more complex issues.

Data Analysis and Insights:

AI processes large datasets to provide actionable insights into consumer behavior, market trends, and campaign performance. This data-driven approach allows marketers to make informed decisions.

While AI brings numerous benefits, it's crucial for professionals in finance and marketing to adapt their skills to work alongside AI. Embracing these technologies can lead to more efficient and innovative practices within these disciplines.

9. Name a thing that you learned from your direct report from Gen-Z?

One valuable thing I've learned from my Gen-Z direct report is the power of digital fluency. The younger generation is inherently comfortable and adept at leveraging technology in various aspects of their work and personal lives. This has emphasized the importance of staying updated on the latest digital trends and tools. Their fresh perspective has encouraged me to embrace new communication platforms, explore innovative collaboration methods, and rethink traditional approaches to problem-solving. It's a reminder that learning from each generation fosters a dynamic and forward-thinking work environment.

10. What is your future aspiration for Sri Lanka?  

My future aspiration for Sri Lanka is to see the nation thrive as a hub of innovation, sustainability, and inclusive growth. I envision a future where businesses, government, and communities work collaboratively to address challenges and harness opportunities. This includes a focus on sustainable development, advancements in technology, and nurturing a skilled and adaptable workforce. I aspire for Sri Lanka to be recognized not only for its economic achievements but also for its commitment to environmental stewardship, social equity, and overall well-being. Through strategic and collaborative efforts, I hope to contribute to a future where Sri Lanka stands as a shining example of progress and prosperity for all its citizens.