Now Reading: Extravagance & Style in Entrepreneurship
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Extravagance & Style in Entrepreneurship
Extravagance & Style in Entrepreneurship
Always been a symbol of extravagance and style. Entrepreneurs are obsessed with a passion to embark on profitable businesses. Foray into furniture was a business instinct of Mr. Dhanushka Fernando, Founder/CEO, Finez Capital Ventures (Pvt) Ltd, Finez Furniture & Interior (Pvt) Ltd, FCV Industries (Pvt) Ltd, Caza Capital Ventures (Pvt) Ltd.
Q : WHAT UNIQUE MANAGEMENT STRATEGIES OR TECHNIQUES HAVE YOU IMPLEMENTED TO CREATE A DISTINCT ORGANIZATIONAL CULTURE WITHIN YOUR COMPANY?
At FCV Group of Companies and FINEZ, we have crafted a distinctive organizational culture by integrating traditional values with modern management practices. We recognize the importance of collectivism embedded in our culture and emphasize teamwork, collaboration, and loyalty within our teams based in our offices and also our factories.
This approach fosters a sense of belonging and mutual respect among employees who come from diverse educational levels and backgrounds.
To further strengthen our organizational culture, we prioritize building personal connections and trust among team members, as this is vital for collective responsibility amongst our teams. Understanding that personal relationships are pivotal in business contexts, we encourage open communication and regular team-building activities to cultivate trust and rapport amongst the team.
Additionally, we respect the hierarchical structures prevalent in workplaces. While promoting open dialogue, we ensure that decision-making processes honor established hierarchies, allowing for efficient and respectful communication across all levels of the organization.
By blending these traditional values with contemporary management techniques, we have created an organizational culture that is both distinct and effective, resonating deeply with Asian roots while positioning us for global success and minimum staff turnover.
Q : HOW DO YOU BALANCE EMPOWERING YOUR TEAM WITH MAINTAINING CONTROL OVER KEY BUSINESS DECISIONS?
Empowering my team is central to our success. I encourage team members to take ownership of their projects, fostering a sense of responsibility and initiative. This empowerment is balanced with structured oversight through regular strategic meetings and clear communication channels.
By setting well-defined targets and individual goals, we ensure that each team member understands their role in achieving our collective vision. In times of crisis, such as the recent economic challenges, this structure allows for swift decision-making and implementation, ensuring agility without compromising on control.
This balance creates a collaborative environment where autonomy and alignment with company objectives coexist, driving both individual and organizational growth.
Q : WHAT ROLE DO YOU THINK EMOTIONAL INTELLIGENCE PLAYS IN YOUR LEADERSHIP APPROACH, AND HOW DO YOU CULTIVATE IT WITHIN YOUR TEAM?
Emotional intelligence is a cornerstone of my leadership at FCV Group of Companies. Understanding and managing emotions—both my own and those of my team—has been pivotal in navigating the complex dynamics of the business world. This approach fosters trust, open communication, and a collaborative environment, essential for organizational success.
To cultivate emotional intelligence within my team, I prioritize creating a culture that values empathy and self-awareness. Regular workshops and training sessions are conducted to enhance these skills, enabling team members to better understand their emotions and those of their colleagues. This focus on EI has been instrumental in building strong interpersonal relationships and effective communication channels within the organization.
In the South Asian business context, where emotions are often concealed during daily interactions, leveraging emotional intelligence becomes even more crucial. By acknowledging and addressing emotions, we turn them into allies, facilitating better decision-making and leadership. This approach aligns with insights from “EQ and Leadership in Asia,” which emphasizes the importance of using emotions as allies in practical business challenges.
By embedding emotional intelligence into our organizational culture, we have created a resilient and adaptive team capable of navigating the complexities of the business landscape. This commitment to emotional intelligence not only enhances individual performance but also drives the collective success of our organization.
Q: CAN YOU DESCRIBE A TIME WHEN YOUR STRATEGIC THINKING LED TO A MAJOR TURNING POINT OR COMPETITIVE ADVANTAGE FOR YOUR COMPANY?
In 2017, when we started our operations I recognizing the untapped potential of digital marketing in Sri Lanka’s furniture and interior industry, I led FINEZ’s early adoption of social media advertising. At a time when few competitors were leveraging this medium, we established a robust online presence, engaging directly with consumers and gaining valuable market insights.
This strategic move not only increased our brand visibility but also provided a platform to showcase our unique blend of traditional craftsmanship and modern design. The resulting competitive advantage was significant, positioning FINEZ as a forward-thinking leader in the market and contributing to our sustained growth from a single person to over 100 staff members running operations both locally and globally with multiple manufacturing facilities and showrooms in operation.
Q: WHAT STEPS DO YOU TAKE TO FOSTER A CULTURE OF INNOVATION WITHIN YOUR ORGANIZATION?
Innovation at FCV Group of Companies is driven by a commitment to continuous improvement and responsiveness to market trends.
We encourage our team to think creatively, challenging conventional designs and exploring new materials and techniques. Understanding the importance of community, we provide financial aid, training, and skill development to local artisans. This not only uplifts the industry but also fosters a collaborative environment where innovative ideas can flourish.
Our design-based, market-centric business model emphasizes the introduction of new products that align with evolving customer preferences, ensuring that innovation remains at the heart of our operations.
This culture not only differentiates our brand but also drives our mission to provide functional, aesthetic, and comfortable solutions to our customers.
Q:WHAT IS YOUR APPROACH TO TAKING CALCULATED RISKS, AND HOW DO YOU EVALUATE WHETHER A RISK IS WORTH PURSUING?
As the CEO of FCV Group of Companies, I believe that taking calculated risks is essential for growth, but it must be done strategically. My approach begins with comprehensive market analysis, ensuring that any decision is backed by data and a clear understanding of consumer trends, competitive dynamics, and industry gaps.
For example, in 2015, recognizing the untapped potential of digital marketing in Sri Lanka’s furniture industry, I led FINEZ to embrace online platforms early, giving us a significant competitive advantage.
Every risk I take must align with our company’s core competencies and long-term vision. I evaluate whether an opportunity complements our strengths, ensuring we have the expertise and resources to execute it successfully.
Rather than making impulsive decisions, I prefer an incremental approach—testing ideas on a smaller scale, analyzing results, and refining strategies before committing fully. This method allows flexibility while minimizing exposure to potential pitfalls.
Additionally, I foster a culture of risk awareness within the organization, where innovation is encouraged but backed by thorough evaluation. By balancing bold decision-making with strategic foresight, I have been able to navigate challenges effectively, turning calculated risks into opportunities for sustained growth and industry leadership.
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