Ireland can gain an edge on other economies by attracting top managers and workers from abroad and by building a world-leading management school, according to the chief executive of the Irish Management Institute (IMI).
"Our capacity to move ahead of other economies revolves around Ireland being seen as a hub for talent - we have to be seen as a place to migrate to," Tom McCarthy said. "If we achieve this, more industry will move here."
Mr McCarthy gave the example of Google's decision in 2003 to locate its second-largest operation in Ireland, where it services customers in more than 35 countries in their local time zones and languages. The company announced last November that it would add 500 jobs in Dublin, bringing its workforce in the capital to about 1,300.
"This investment was driven by our capacity to get people," Mr McCarthy said.
"There is a Googleplex in California that can support operations in nine languages, whereas in Dublin they can support 25 languages. We have the talent for more of these companies to locate here."
While the IMI chief executive welcomed government investment in fourth-level education, designed to foster research and innovation, the system needs to be commercialised. The IMI, which runs a management programme with Trinity College, believes that developments in the fourth-level sector need to be consolidated by creating a premier management school.
"Through our alliance with Trinity we have put in the groundwork," Mr McCarthy said. "Now we need an executive masters programme that would rank in the world's top 20."
The challenge of attracting talented individuals to Ireland will be one of the issues addressed at the institute's conference on April 26th/27th. Factors which have contributed to the State's economic success and how Ireland could manage in a downturn will be discussed.
"We are picking up a lot of concern at the moment," Mr McCarthy said.
"There is concern among senior managers and executives throughout our network about higher interest rates and associated costs. However, our boom was characterised by shocking growth rates, sometimes 10 per cent year on year. We got to the point where we were a premier league economy and we are now facing the constraints of a normal economy."
Speakers at the conference will include Taoiseach Bertie Ahern and Stockbyte founder Jerry Kennelly, who sold his company last year to Getty Images for $135 million (€103 million). Former Finnish prime minister Esko Aho will explore the role of innovation and how his country transformed itself through innovation and investment in a knowledge-based economy.
Gerry Robinson, former chairman of Allied Domecq, BSkyB and Granada, will offer advice on managing performance and on change in organisations. The management guru became the focus of a BBC TV series after he was set a challenge to reduce waiting lists at an NHS trust in Yorkshire, with no extra funds, in six months.
