In the wake of the Covid-19 pandemic and subsequent economic challenges, the Faculty of Management Studies of The Open University of Sri Lanka took a pioneering step by hosting its inaugural international conference, the International Conference on Management and entrepreneurship (ICOME) on 31^st of March and 1^st of April 2022 on a virtual platform exemplifying the gravitas in the new normal environment. Subsequent to the Covid 19 pandemic and a series of economic down turns, the economy of the country came into a juncture where the redemption could start with empowering Entrepreneurship and innovations. Eventually it was transformed into a platform for all scholars, professionals, and policymakers to examine the condition and construct a discussion to overcome the hardships.  Thus, the first milestone of the flagship event of the faculty, ICOME 2022, was launched under the theme of “Business Management: Innovation, Challenges and Resilience”. Professor Philip Kotler as the chief guest, Professor Xiaobo Wu as the Keynote Speaker, and Professor Sampath Amarathunge as the guest speaker enlightened the monumental event. Moreover, the conference covered Business Entrepreneurship and Innovation, Accounting Finance and Banking, Marketing Supply chain and Tourism, Human Resource Management and Best practices, and Interdisciplinary Research as key most important tracks. The Doctoral Colloquium was set to share the experiences of the Doctoral Student, Peer Researchers, and more experienced scholars. Virtual 3MT was placed as demonstration of high caliber research communication method which was found by University of Queensland for the PhD/MPhil/DBA candidates who have successfully passed their confirmation to demonstrate their advanced research aptitude. As an extension of this remarkable event, May 27^th, the birthday of the father of modern marketing Professor Philip Kotler, was declared as the “Marketing Day” at Open university by the vice Chancellor of The Open University of Sri Lanka