Sri Lanka ranks 22nd on Change Readiness index - No 1 in South Asia
The recently released results of the 2012 Change Readiness Index have ranked Sri Lanka at the 22nd place among 60 developing and emerging world economies.
The survey conducted by the KPMG International, in collaboration with researchers from the Overseas Development Institute (ODI) has assessed the level of change readiness across 60 countries with a focus on developing and emerging markets.
In introducing the results of the first Change Readiness Index, the researchers say in the current uncertain economic conditions, countries, businesses and institutions around the world are undergoing unprecedented change with new challenges and opportunities every day and some countries, however, are better able to manage and mitigate the risks associated with change and capitalize on new opportunities.
They have evaluated the need and opportunity for a new forward-looking index - the Change Readiness Index - to assess the capability of individual countries to manage change. The Index is based on the premise that the underlying capability of a country to manage change is dependent on certain fundamental characteristics.
In developing the Change Readiness Index, KPMG and ODI have examined the available academic literature and existing indices and data to ascertain how the concept of 'change readiness' could be best measured, the report says.
From this, a set of indicators were identified as influencers on a country's underlying capability to manage change and these factors have been categorized into three broad groups - Economic capabilities, Governance capabilities, and Social capabilities. Each category has been assigned a score and a rank.
KPMG and ODI expect the Change Readiness Index to signal which countries are better prepared to cope with change, and thus provide new and important information about the potential future economic prospects of a country.
Among Sri Lanka's neighbors, India has ranked one below Sri Lanka, Bangladesh at 45th place, Nepal at 50th, and Pakistan at 54th place.
Sri Lanka : Sri Lanka ranks 22nd on Change Readiness index, better prepared to cope with changes than neighbors