March, 27, 2023
Sri Lanka’s leading innovation and development catalyst - Good Life X (GLX) launched ‘The Regenerative Business Model Canvas’ (THRIVE BMC) on 21 March 2023 at Trace Expert City, Colombo, Sri Lanka. The Thrive BMC was created with the assistance of the United States Agency for International Development (USAID) CATALYZE Sri Lanka Private Sector Development (PSD) activity, which focuses on increasing the competitiveness of SMEs to diversify Sri Lanka’s private sector and increase revenues in high growth sectors.
Launched as a business tool to deeply (re)design and transform companies from extractive to regenerative models, THRIVE BMC is a versatile tool which can be adopted by SMEs and larger corporations around the world as a road map for companies to go beyond resilience and thrive through the crisis and beyond. The tool was developed as a means to meet the changing landscape of business needs and practices - with emphasis on the ecological, financial, economic and social crises.
Commenting on the launch of THRIVE BMC, Partner, Good Life X – Arj Wignaraja noted: “GLX was motivated to create a tool to create tangible action and deep business transformation because we have seen SMEs in Sri Lanka fighting the good fight even with ad hoc approaches to be regenerative with the goodness in their hearts. On the other hand, we’ve also seen larger companies either following the rules to comply with international standards because they want to sustain CSR, SDGs, and ESGs or are at the extreme other ends of greenwashing, and that is just not a sustainable model for any forward-thinking business. It is imperative that we take a more structured approach to change our mindset towards business, people, our planet, and profits. THRIVE is regenerative by design. We believe through this modern approach to a regenerative business model, we can create businesses and industries that take a more holistic approach to conscious consumerism, ethical practices, and circular, inclusive economies.”
The four elements of the regenerative mindset outlined by GLX during the launch were Joyful, Agile, Abundant and Inclusive whereby by fulfilling one element, the other elements can be unlocked to adopt a complete regenerative mindset. The new model unveiled 9 pillars of regeneration and drew moments of clarity from the pilot companies it already implemented the canvas for.
Speaking at the launch, Founder & CEO, Good Life X – Randhula de Silva stated: “In the context of the current local crisis, organizations are encouraged more and more to be “resilient;” pushing us to continue to hang on and do business as usual and get back to normalcy. Doing business as usual just won’t make the cut anymore though. While the Techwave made many companies go under, we are saying that the next wave is already here and that is the way of conducting business consciously. Through THRIVE BMC we introduce to you the Regenerative mindset - putting back more than you take. The breakthrough Good Life X is making with THRIVE BMC is to offer a tool which enables businesses to go beyond resilience into entities which are “thrivable”. It is a shift in perspective and approach to the way of doing business going by the rule that “what got us here, won't get us there”
THRIVE BMC was developed over the period of a year by Good Life X experts, based on the original business model canvas developed by Dr. Alex Osterwalder and influenced by the Exponential Business Model canvas by Salim Ismail and Francisco Palao.
The event welcomed over 100 CEOs, Vice Presidents from the private sector, foreign missions and economic development agencies, sector and industry associations, industry innovators, and local entrepreneurs. Attendees engaged in discussions with the members of Good Life X to further understand how THRIVE BMC is poised to revolutionize both local and global industries and businesses.
This model was developed with the contribution of leading technical experts, including - Arj Wignaraja, Randhula de Silva, Anushka Wijesinha, Amanthi Perera, Chalana Perera, Savan Perera, Vihangun Ariyaratne, Emma De Silva, Antyra Solutions and Pepper Cube Consultants.
Randhula de Silva - Founder & CEO, Good Life X delivering her welcome address at the launch event
Arj Wignaraja - Partner, Good Life X speaking at the launch event
Image Captions : (From left) Chalana Perera - Founder - RETRACE™ Hospitality, Anushka Wijesinha - Partner, Good Life X, Amanthi Perera - General Manager Sustainable Business, MAS Holdings, Randhula de Silva - Founder & CEO, Good Life X, Arj Wignaraja - Partner, Good Life X, Vihangun Ariyaratne - COO, Good Life X, Savan Perera - CFO, Good Life X Kamil Jayah - Admin Manager, Good Life X, Randuli Rubasinghe - Intern, Good Life X, Emma de Silva - Communications & Community, Good Life X, Hari Jashwanth - Intern, Good Life X Saseni Wijegunawardene - Program Associate, Good Life X, Thushan Wickramasinghe - Program Manager, Good Life X
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