The Importance of Entrepreneur to the Development of Sri Lanka: A Case Study of Merrill J Fernando

Abstract

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Entrepreneurship has become more important in today’s world as it is the main factor which creates new products and creates new organization. The development of a country relies on the success of the organizations and industries which creates employment, utilize resources, introduce new technology, brings foreign income etc. Therefore, entrepreneurship is an important topic which we need to focus on. As the importance of an entrepreneur was identified, an empirical research was conducted to justify the role of an entrepreneur to the development of Sri Lanka. The study was piloted by researching an outstanding entrepreneur in Sri Lanka “Merrill J Fernando” the founder of “Dilmah” Tea, one of the leading and renowned brand in the world. Merrill J Fernandois an extraordinary entrepreneur considered as the personwho produces single origin tea in the whole world.He is the only CEO who produces and exports tea, under his own brand. He alone has changed the conventional system in the tea industry. Thus,it is considered him as one of the remarkable entrepreneurs in Sri Lanka. Therefore, a detailed exploration of Merrill J Fernando would help to identify the behavior, aspirations, features and the specialties which serve or help to achieve social, environmental and economic development in Sri Lanka. Contribution to the development in a country cannot be attained by an ordinary person. And this broad concept needs to be achieved in terms of social, environmental and economic wise. Simply the study needs to find out why an entrepreneur is important to achieve social, environment and economic development and how an entrepreneur contributes to the development in Sri Lanka. The empirical study of this research will provide the answer on taking Merrill J Fernando as an example. Therefore, the research problem in this study is “how Merrill J Fernando, as an entrepreneur becomes important to the development o f Economy, Society and Environment o f a country? ”