Executive Summary

This report will discuss the Leadership and Management Development theories which could apply to Risk and Control department of Hemas Holdings. Hemas Holding PLC is one of leading Sri Lankan Conglomerate Company which is operating FMCG, Pharmaceuticals, Leisure, travels and mobility sectors. Hemas Risk and control department conduct internal audits and risk management process in Hemas Group and it has shown significant improvement in last five years.
Hemas “Vison 2020” is to be a leader in wellness, Leisure and Mobility sectors and enriching the lives of all who they touched. Their mission is “to passionately deliver outstanding products and services thus enriching the lives of customers and creating superior value to their shareholders”. Risk and control is internal department of Hemas which provide services to SBUs of Hemas. Therefore basically their vision is enriching the life of SBUs.
This report will discuss the vision and mission of the company and how it link with the organizational vision. Further this focus on team dynamics, structure and how communication and relationships were build up with in the team members. Further this is discussed which stage Hemas Risk and Control is in according to Tuckman’s stage of group development and the process of reaching a current stage. And also this is evaluated leadership and performance measurement process of the team.
Finally based on the assignment, this will identify the gaps and provide the recommendations for the improvements.

1. Introduction

Hemas Holding PLC (HHL) is one of main and fastest growing blue chip conglomerates in Sri Lanka which operate in FMCG, pharmaceutical, healthcare, leisure, travel, logistic, maritime and many other sectors. Hemas is among top 20 in LMD’s most respected entities in years. In 2017, Hemas reach 7th position in LMD’s most respected entities which is their best position of that rating so far. Hemas is founded in 1948 and it has grown over 69 years to become one of best company in Sri Lanka which operates various sectors. In 2003, Hemas Holdings listed in Colombo Stock Exchange.
Hemas Risk and Control is one of department of Hemas Holding which conducts internal audits, risk management process, business continuity planning and compliance in the company. Before 2012, there was not organized risk and control department in Hemas and there was only two member team which was attached to group finance to monitor the internal audits which is done by audit firms. And also risk and control was not prominent sector at that time in Sri Lanka and only few leading companies had own Risk and Control function. In 2012, Hemas Management decided to revitalize the risk and control function by recruiting senior manager for Risk and Control. And now there is a Risk and control department which has around 20 members and spread out all over the group. Now Hemas Risk and Control conducts internal audits, risk management, compliance and business continuity planning throughout the group and make significant impact to minimize internal control weaknesses, process improvements, minimize the business risk and comply company operation with laws and regulations. Therefore this report will discuss the Leadership and Management Development theories and concepts applied to Hemas Risk and Control.