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Operations

Importance of Insuring a Business

In this video of the Diriya Biz video series brought to you by Diriya.lk, we are joined by the Director of SG Life International (Pvt.) Ltd. Mr. Suranjith Godagama, who would be discussing the ‘Importance of Insuring a Business’.

Governance of a family business

Family business governance is a topic that covers two broad areas; governance of the family and governance of the business.

Importance of proper governance in a family business

The success of a family business revolves around the changing dynamics of not only the business but also the family. Family members may have been dependent on the business for some part of their lives, and may have contributed to the business too.

Tips for Succession Planning

Have you started with your succession plan for your organization yet? Have you delayed planning for lack of time, or in confusion about what to do next? Have you yet to identify potential successors, or are you unsure of your successor’s skills and abilities?

Towards Better Procurement

Among the many costs that you hope to minimize when engaging in a business, procurement is probably one of the most important factors that you might have to consider. This is the same for both large scale and small scale businesses. Here’s a snapshot of procurement and ways in which you can make it more efficient and cost-effective.

Adopting Right Governance Structures According to the Maturity of Your Family Business

In the initial stage of a family business, most of the governing decisions are taken by the owner / founder. However if he or she brings in family members,  and with the expansion of the business, it is required to have a very clear family business governance structure.
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Operations

Inventory handling and supply chain management

In today's competitive business landscape, small and medium enterprises (SMEs) face numerous challenges to establish and sustain their operations.One key aspect is supply chain management (SCM). A well-managed inventory and a streamlined supply chain not only ensures smooth operations but also contributes to customer satisfaction, cost control, and overall profitability.

Waste reduction & Productivity improvement to maintain SME sustainability

Even though these are many globally accepted strategies for waste reduction and productivity improvement, SMEs should strategically identify the methods that are most suitable for their ventures based on their capabilities.

Why Record-keeping Practices are vital to SMEs

Recordkeeping is a critical aspect of running a successful small and medium-sized enterprise (SME). It involves the systematic recording, organizing, and tracking of financial transactions, providing a clear picture of the company's financial health. While often overlooked or underestimated, effective recordkeeping practices can significantly impact the growth and stability of SMEs.
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