Business

Building strategic resilience to survive beyond the ‘New Normal’

Published

5 years ago

2022/01/27

By Prasath Mahalingam

As we near the two-year mark of the ravenous coronavirus pandemic, it is positive to see that many businesses worldwide have stepped up to the challenge, adjusting their businesses both to safeguard their employees and to continue serving their customers. Even locally, many organisations believe that they have responded efficiently to the pandemic. Yet, some companies showed true grit during these testing times, proving to be more resilient than others, by swiftly adapting their strategies to address both the challenges and the opportunities created by the pandemic. What was the secret behind their success?

As someone involved in building new opportunities to thrive, I see three elements that stand out. Firstly, successful companies quickly accepted the weaknesses in their business’s strategic resilience when the pandemic exposed them. Strategic resilience is the degree to which an organisation’s business model and competitive position show resistance to change. Secondly, they used business-model innovation as the strategic lever to address the crisis. During the last one and a half years, we saw many firms—including local companies—responding effectively to business challenges through unique innovations. And lastly, organisations reworking their business continuity plans, instead developing ‘scenarios’ that give more space for innovation, as they expect them to persist beyond the crisis.

Assessing your strategic resilience

The pandemic has put businesses through demanding resilience checks. For many, it was a rude awakening. While the pandemic weakened the competitive position of some companies, many firms have been able to gain a competitive edge. How? Successful companies have been heavily relying on emerging technologies such as artificial intelligence (AI), data analytics, machine learning and cloud. A McKinsey survey 1confirms that technology adoption rates are years ahead of where they were when previous surveys on digital accelerations were conducted. A client of 99x recently engaged us on a Big Data project to analyse over 13 billion records to identify trends that could lead to new business opportunities and increase value to clients.

For organisations that gained ground during the crisis, business model innovation has become the key differentiator. Companies that adopted and tested their novel business models have focused on several areas. One is new digital experiences and services. These were leveraged in response to changes in customer behaviors and needs. Last June, 99x launched DevGrade, a first-of-its-kind solution geared towards hiring technical talent. The fully automated assessment platform allows recruiters to hire the best by virtually evaluating them in simulated real project environments.

Another area has been new partnerships, both within and outside the industry. For example, we have seen insurance companies partnering up with telcos to develop telemedicine apps and pharmaceutical companies collaborating with medical institutions to accelerate vaccine development. Change of sales models is another factor as many companies have had to alter the way they market and sell their offerings. Imagine how the business model of restaurants and logistics companies changed during the last several months with the rapid growth of contactless delivery. The faster development of products has also been a crucial factor to respond to pandemic-related issues rapidly.

Nevertheless, many of these innovations are here to stay in most cases. Many businesses believe their business-model transformations will persevere in the long term—and see more on the way. For example, many IT companies in Sri Lanka are considering a hybrid work model or setting up satellite offices that provides employees flexibility. This in turn will boost productivity both within the organisation and for its customers. All of these reaffirm a time-tested motto: There is also great opportunity in times of great disruption.

Structuring your strategic resilience

The pace of change keeps accelerating. Being brave to make a bold move faster in these uncertain times will help you stand out from others who are uncertain about making a strategic decision to disrupt. To keep up with the rapid pace, the strategic planning process of a business and the team has to be agile to face the high volatility of the business landscape. To do this, organisations need to fix bold objectives. Crises such as the ongoing pandemic pave the way for organisations to explore new business opportunities.

If there ever was a time to reimagine business strategy and fix bold objectives, it is now. Many firms managed to react with unprecedented speed to challenges presented by COVID-19, and they did it in just days and weeks. This is the time to mirror the future role you want your organisation to play for its stakeholders, including customers and employees. Such vibrant organizations,, possessing a disruptive business model have even been able to attract investment for their next phases of growth during these challenging times.

Additionally, the days of developing forecasts for your organisation have now passed. The new normal is all about developing scenarios. Scenarios help a business realise the range of possibilities it might face. This allows the evaluation of planned strategic moves against any crisis and can confirm that the strategy can thrive in a range of future outcomes. This is why business leaders must develop scenarios together with finance and strategy business units to integrate all pertinent viewpoints.

In conclusion

It is impressive how most businesses, including local companies, have infused innovation into their business strategies to respond to the pandemic. However, with COVID continuing, uncertainty and change isn’t going to disappear overnight. To ensure your company is strategically resilient for whatever the future brings, start by instituting dynamic planning procedures that will empower your teams to unlock crucial moves necessary to come out on top, while being flexible enough to change direction if needed.

(The writer is the Chief Business Development Officer at 99x and drives strategic business deals across various domains with key prospects, customers, innovation partners and industry influencers. With over 18 years of experience, he has worked across many disciplines including business analysis, delivery management, people development and marketing, and has been a catalyst in driving change across the organization.)

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Business

Pan Asia Bank’s Rs. 5 b debenture issue oversubscribed

Published

6 hours ago

2026/10/3

Thilina Walpola

B D A Perera, Chairman and Naleen Edirisinghe Director/CEO of Pan Asia Bank

Pan Asia Banking Corporation PLC’s Senior Listed Rated Unsecured Redeemable Debenture issue of up to Rs. 5 billion was oversubscribed following its opening reflecting strong investor interest.

The debentures, with a par value of Rs. 100 each, will be listed on the Colombo Stock Exchange (CSE). The three-year debentures offer an interest rate of 12.75% interest payable annually, while the five-year debentures offer 13.50% interest payable annually.

The issue has been assigned a BBB+ (Stable) rating by Lanka Rating Agency.

The debenture issue was managed by the Investment Banking Unit of Commercial Bank of Ceylon PLC, with SSP Corporate Services (Private) Limited serving as the Registrar to the Issue.

The Bank said the strong investor response demonstrates continued confidence in Pan Asia Bank and its approach to creating long-term value for its stakeholders.

Pan Asia Bank, which positions itself as ‘The Truly Sri Lankan Bank’, continues to strengthen its role in supporting the financial requirements of individuals and businesses while contributing to the development of Sri Lanka’s economy.

Business

SLIIT International and Liverpool John Moores University inaugurate dedicated international learning facility

Published

6 hours ago

2026/10/3

Thilina Walpola

Andrew Patrick

The Sri Lanka Institute of Information Technology (SLIIT) and Liverpool John Moores University (LJMU), United Kingdom, recently inaugurated SLIIT International in Collaboration with LJMU, a dedicated international learning facility located at No. 17, Dickmans Road, Colombo 04, marking a significant milestone in a partnership spanning more than a decade and reinforcing their commitment to providing Sri Lankan students with access to internationally recognised UK higher education qualifications.

The Grand Opening Ceremony was attended by Andrew Patrick, British High Commissioner to Sri Lanka, who graced the occasion as Chief Guest, alongside senior representatives from SLIIT, Liverpool John Moores University, the British Council, academia, industry and other stakeholders, marking the next chapter of the longstanding SLIIT–LJMU collaboration. The new facility is particularly significant as Sri Lanka’s first academic facility dedicated exclusively to the delivery of LJMU degree programmes, reflecting the strength, maturity and long-term commitment of the partnership.

Over the past decade, the SLIIT–LJMU partnership has established a growing network of more than 1,500 alumni, while providing Sri Lankan students with opportunities to gain internationally recognised UK qualifications locally. The new dedicated facility has been designed to provide a world-class learning environment exclusively for LJMU programmes, supporting future programme expansion, strengthening the student experience and creating opportunities for deeper academic collaboration, innovation, research and student engagement.

Commenting on the milestone, Prof. Lalith Gamage – Vice-Chancellor, Managing Director and Chief Executive Officer, SLIIT, stated, “The launch of SLIIT International in Collaboration with Liverpool John Moores University represents an important new chapter in our longstanding partnership with Liverpool John Moores University. Our vision is to provide Sri Lankan students with a world-class education and student experience right here in Sri Lanka, while equipping them with the global outlook, critical thinking, professional capabilities and career readiness required to succeed in an increasingly interconnected world. This dedicated facility strengthens the student experience while providing a strong foundation for the continued growth of our collaboration with LJMU.”

Prof. Timothy Nichol, Pro-Vice-Chancellor, Faculty of Society and Culture, Liverpool John Moores University, said, “The opening of Sri Lanka’s first facility dedicated exclusively to LJMU degree programmes represents a significant milestone for the University and our partnership with SLIIT. It reflects the strength of our collaboration and our shared commitment to delivering a high-quality LJMU educational experience in Sri Lanka. The new facility also creates exciting opportunities for deeper academic collaboration, innovation, research and student engagement as we look towards the next phase of our partnership.”

A key highlight of the Grand Opening Ceremony was the panel discussion titled “Beyond Borders: The Role of British Higher Education in Developing Globally Competitive Graduates.” The discussion examined the growth of international educational opportunities in Sri Lanka, the future expansion of UK degree programmes, maintaining the quality and integrity of UK qualifications, developing future-ready graduates with global competencies, and the role of international higher education in strengthening graduate employability. The panel brought together Prof. Lalith Gamage; Prof. Timothy Nichol; Mr. Sajeewa Meepage, Representative of the British Council; and Dr. Harsha Cabral, Board Member of SLIIT.

The panelists further emphasized on emerging trends in areas including law, business, psychology and artificial intelligence, as well as the contribution of UK higher education to Sri Lanka through internationally recognised qualifications that uphold global academic standards.

The discussion explored the history and future of the SLIIT–LJMU partnership, the strategic significance of the new SLIIT International facility, academic quality, graduate employability and the long-term growth of LJMU programmes in Sri Lanka.

The ceremony also featured a special address by Andrew Patrick, British High Commissioner to Sri Lanka, followed by an address by Mrs. Clare Sears, Country Director, British Council Sri Lanka. The evening also included the ceremonial exchange of the partnership document between SLIIT International and Liverpool John Moores University, symbolising the continued commitment of both institutions to strengthening their collaboration and expanding international educational opportunities for Sri Lankan students.

Business

Dijital Team and WinSYS City University launch two-year partnership

Published

6 hours ago

2026/10/3

Thilina Walpola

Ziyam Abdeen, Chairman of WinSYS, and Peter Ward, Managing Director of Dijital Team, at the signing ceremony for the two-year partnership

Dijital Team has signed a two-year partnership with Winsys City University, strengthening the skills and capabilities of its team members to support Managed Service Providers and IT service providers while elevating tech talent to immediate industry-readiness. With a Memorandum of Understanding (MOU) signed recently, the partnership was formally launched on 9 September 2026 at Dijital Team’s office premises, Colombo.

Combining Dijital Teams’ international employer network and understanding of the capability requirements of MSPs and IT service providers across Australia, New Zealand and the United Kingdom with Winsys City University’s training heritage of 21 years, the joint programmes create legitimate classroom-to-international-career pathways, offering structured learning and certification avenues that support deeper capability across cloud, cybersecurity, automation, AI and emerging technologies.