"Sri Lanka has today reached an important juncture in its development endeavour. As a country with a strong education base, development in the area of intangible asset valuation will give a competitive leverage in this process," said David Haigh, CEO of Brand Finance, UK, addressing a CEOs’ Breakfast Forum.

The event was organised by The Chartered Institute of Marketing Sri Lanka Region, at Cinnamon Grand Colombo. The principal sponsor of the event was Asian Alliance Insurance PLC.

Taking the participants through an insightful and comprehensive presentation – "Business Value Creation Through Brands" – Haigh envisaged that Sri Lanka too can make international brands. He stressed on the leading role the high-profile audience should take as those in the driving seats of organisations. In his presentation, Haigh also talked of the synchronisation of all organisational variables and the CEO’s role in setting the overall business direction and strategy - the basis for creating strong brands. He exemplified how an organisation’s value is far more than the accumulated value of its tangible assets that are captured in the usual financial reports. He stressed on the importance of measuring the value of intangible assets, which in turn reflects on the overall value of an organisation and in share price. He said "arguably brands are the single largest category of intangible assets". The presentation enlightened the participants on several frameworks developed by Brand Finance UK, as well as on the new ISO/DIS 10668 standard in valuing intangible assets.

Talking of the potential in the area of brand development and its impact on the national economy, Haigh also highlighted the importance of having favourable government policy and incentive schemes, which he illustrated through examples from countries like Malaysia, Singapore and Turkey.

Addressing the audience, Roshani Cooray, Chairperson, CIM Sri Lanka Region, pledged that CIM Sri Lanka will continue to organise similar events in future too in their mission to promote marketing to be the key driver of business success in corporates.

David Haigh also addressed a CIM Talking Point programme held on May 4 at Galle Face Hotel which was an open forum for nstitute members as well as the public.

Both programmes were well received and CIM Sri Lanka Region was pleased to have organised the event in association with Brand Finance Sri Lanka, and together with the Principal Event Sponsor Asian Alliance Insurance PLC.

The Chartered Institute of Marketing is the world’s largest and most prestigious professional body for marketing present in over 80 countries worldwide.

CIM Sri Lanka Region is the largest CIM international region and the first international branch of The Institute.

Through its illustrious journey that extends for over two decades, CIM Sri Lanka Region has lead the force towards enhancing the recognition of marketing profession while harnessing marketing best practice in the country.

(Courtesy – The Island)