Executive summery

The corporate plan was prepared for the corporate planning committee of the identified individual company or any other industry proponent in order to have a knowledge of the planned activities of the company during the forthcoming financial year 2021 / 2022. The presentation of income, expenditure and manpower plan, capital expenditure plan and the training plan have been formulated based on research completed with regard to the relevant areas of business units whilst, considering the global Covid 19 pandemic and the country’s macro-economic impact as well.

The world including Sri Lanka is yet to fully recover from the Covid 19 pandemic aftermath and of its economic impact, the worst pandemic in the world's history and yet the entire world hasn’t come out of the rut and no difference in Sri Lanka and its impact to the nation’s economy is immense. Economic downtime and pandemic situation slowed down business growth significantly in the last year 2020 whilst first quarter of year 2021 showed some sign of recovery and CBSL is expected the recovering path is looming around, is expected to end at 3.6% GDP growth during the year 2021 in comparison to the previous year negative 3.6%. The setbacks in the lockdown period in particular caused some weakening in progress and posed a greater risk to future economic prospects.

The performance of the corporates had mixed reactions due to the pandemic situation which prevailed largely in the last year. Mostly pharmaceutical, FMCG sector witnessed a rise in income whilst most of the other sectors recorded a lifetime low performance during the pandemic year 2020.  Given the uncertainty, most of the industries would sway in different directions and broadening its horizons would be limited. Mixed business sentiments would prevail throughout the year and adopting prudent policies and strategies would be pragmatic for the industry proponent, considering the nature of the industry.

The corporate plan has been designed by giving due consideration to the said issues and also with a view of capitalizing on any opportunities that would arise on a positive outcome to the present economic situation. The implementation and achievement of the business plan for any company would mainly depend on the internal factors such as aggressive marketing, new products and services, effective and efficient production process, coordinated and integrated among each business units including better drive from the management.  Also, the external factors such as the changes in policies of political, economic, social and technological environment and the volatility in the capital and the financial markets would be factored in the corporate planning exercise.