1.0 Introduction

Leadership is the main differentiator that decide the success or failure of the business. Leadership can be described as the ability to influence others willing to behave differently (Armstrong, 2012) Over the last few decades, the businesses and their leaders have faced significant changes in the work place such as increasing globalization, technological changes, changing organizational structure and etc. Leadership is the ability to empower the people to do their best to achieve the expected objectives. This study will comprehensively analysis the leadership and management development (LMD) strategies that use to develop Hemas Holdings. There are few commonly discussed leadership theories. Further, there are leadership traits and characteristics that lead to success of the organization. Further, this study analysis how company can further improve through modern leadership and management development principles.

2.0 Company background

Hemas Holdings is the second largest conglomerate in Sri Lanka. Currently, Hemas operates in many sectors such as healthcare, pharmaceutical, FMCG, leisure, logistic and etc. Company was founded in 1948 and it has passed 72 years of successful journey to become one of the leading entity of the country. Currently, Hemas Holdings has more than 40 subsidiaries, which operates in different sectors. According LMD magazine, Hemas Holdings is ranked as ninth in the most respected entities in Sri Lanka (Hemas Annual report, 2019). Currently, Hemas has more than 6000 employees and it has expanded its operation to regional countries such as Bangladesh, India and Myanmar. Hemas was started as family business and it was listed in Colombo Stock Exchange. In 2018/19 financial year, group revenue has been recorded as LKR 64 Billion and it was increased 28.5% compared to previous financial year (Hemas Annual report, 2019). The purpose of Hemas is to passionately deliver outstanding products and services to thus enriching the lives of customer and creating superior value to shareholders. Over seven decades, Hemas has offered different quality wide range of products and services which support to enrich lives, empower business, and make significant and positive contribution to the nation’s economic development. Hemas Holdings is won many awards throughout the years for their excellence.
Hemas was founded by Sheikh Hassanally Esufally as very small business in 1948. The original business was Hemas (Drugs) Limited (Hemas Annual report, 2019). Initially, business was developed by hard work and dedication of founder. Currently, third generation of the founder are main shareholders of the company. In 2003, Hemas conducted its initial public offering in Colombo Stock Exchange. Currently, there are more than 2000 shareholders in the company. Leadership of company is the one of main reason for the success of the company. Leaders who manage company throughout the years has different leadership styles and strategies according to the stage of the business. In 2014, Husein Esufally; Chief Executive Officer (CEO) at the time became the Chairman of the company and Steven Enderby was appointed as new CEO. He is the first foreign CEO of Hemas and first person who was appointed as CEO out of the Esufally family. Recent time, company shown significance difference from how it operated previously and growth of the business has increased. Hemas Holding has been managed by different type of leader throughout the years. Therefore, it is a suitable company to study leadership and management development theories.