JCI launches BIZMEET 2016 to promote ethical business practices

In a bid to promote unswerving ethical business practices among the country’s future corporate leaders Junior Chamber International (JCI) Sri Lanka announced the inauguration of ‘BIZMEET 2016.’

Comprised of a series of ten entertaining and informative networking sessions which will kick off on 30 May, the program is set to focus on the importance of ethical business practices and sustainable development goals. Through this, the forum’s organisers intend to empower young business leaders with the tools required to consistently make ethical decisions even in the most challenging environments.

Member of the European Parliament, Nirj Deva sounded the keynote for the event with an address on the ‘Global approach for ethics in businesses’.

Elaborating on the increasingly lax transparency in private limited companies in the country Deva stressed that this was concerning as it signals unsustainable business values to foreign investors.  

“Sri Lanka has many more private companies than public companies and how will you induce ethics in business to private companies. Their transparency is not as open, as annual reports, remuneration committees, audit committees, related party committees are not set up. This is very concerning because there is no compulsion by statute or law to introduce these same disciplines that the public companies have. This actually signals that private companies and long term sustainability don’t go hand in hand,” he said.

State Enterprise Development Deputy Minister Eran Wickramaratne who was also present at the event, addressed the fact that in Sri Lanka the issue of conflicts of interest is not widely understood nor recognised, and called for strict regulation.

Citing an example he said that there are public servants in this country who would participate in the private sector indirectly.

“In politics the ethical value has been that if you are serving in the executive arm of the Government, that is if you are the President or Cabinet Minister you cannot pursue your business interests directly and there would be certain rules about conflicts of interests but in Sri Lanka these rules have been diluted over time. Therefore conflicts of interest must be codified by the law and people must be held responsible,” he added.

Organised by the JCI Colombo South chapter of respected international non-profit organisation, JCI, BIZMEET targets young managers of corporate entities who will be leading their respective businesses in the near future.

Speaking at the inauguration, BIZMEET Founder and JCI Sri Lanka National President Isuru Samarage stated: “Our efforts are purely to empower young leaders to make a positive change in their businesses. We understand the importance of government driving ethical practices but what we want to address through BIZMEET are the responsibilities of businesses to drive a conscience-based approach towards sustainability. This will ensure their long-term survival but also will work to the betterment of our national economy as well.”

The inauguration event also drew participation from several other personalities in the Sri Lankan corporate and diplomatic spheres including Delegation of the European Union for Sri Lanka and Maldives Politics, Trade and Communication Deputy Head Roshan Lyman, Right Business Director and Founder Priyanga Hettiarachchi and South Asia Gateway Terminal (SAGT) Chief Commercial Officer Ted Muttiah. 

Following its inaugural session, BIZMEET will thereafter host ten weekday evening sessions on a monthly basis (one session per month). While supporting participants in their efforts to learn more about the value of ethical business practices they also hope to gradually build a network of young, ethical business leaders who will work diligently to chart the course of Sri Lanka’s economic trajectory in the coming decades.

The program has already received strong representation from the United Nations Development Programme (UNDP) and the European Union Delegation (EU), and strategically partnered with Give2SriLanka in order to carry out the inaugural sessions. The organisers and their strategic partners are also working to attract Public, Private and Civil Society representation at future events in order to further develop BIZMEET into a regular and respected fixture in Sri Lanka’s corporate events calendar.

“Ideally, business ethics ought to be included in early education itself and that is perhaps something that the state will consider in greater detail moving forward. However there are always measures that can be taken now to start driving a positive change. We believe that in organising BIZMEET and focusing on the second-level management of businesses, we have created a vital opportunity to achieve this vision,” BIZMEET Project Chairman and JCI Colombo South Chapter President, Natalie Goonewardene reiterated.

JCI (Junior Chamber International) is an international Non-Profit Organisation with a history of over 100 years and currently operates in 116 countries around the world, of which Sri Lanka has been a part of the organisation for over 60 years.

The organisation structures its programmes around categories of Empowerment, International, Community and Development, with a view to providing opportunities for international youth leaders to generate meaningful and positive changes in their respective home countries. JCI is among one of the few organisations granted consultative status by the United Nations (UN) Economic and Social Council (ECOSOC), advancing a long term partnership and collaboration in sharing similar goals and working towards the enhancement of the communities. 

Pix by Lasantha Perera