The Irish Management Institute and IDA Ireland have launched a new programme for leaders in Irish subsidiaries of multinational companies.
The "Leading with Strategic Intent programme" aims to develop leaders so that they can continue the Irish success story as a global hub for foreign investment.
Viewing foreign direct investment companies as a percentage of GDP, Ireland is considered one of the most globalised countries in the world.
Inward economic flows from FDI companies accounted for 66% of Ireland’s GDP in 2015, compared to 1% from the UK.
Meanwhile, employment in this sector grew by 7% in 2018, compared to national average of 3%.
Through focus groups, workshops, interviews and surveys with 25 senior leaders representing the Irish-based subsidiaries of foreign multinationals, IMI identified the main challenges facing leadership teams in Irish subsidiaries of multinationals.
The research was carried out in association with IDA Ireland, who have been at the centre of attracting foreign investment to the country for decades.
"There are over 1,400 overseas companies located in Ireland and they employ over 229,000 people", Mary Buckley, Executive Director at IDA Ireland noted.
"Every FDI company in Ireland needs to be constantly adapting to the global business environment and continuously focused on potential new business models and activities.
"For the Irish leadership team it's vital that their subsidiary remains relevant to Corporate HQ and finds opportunities to sustain and increase its mandate here," Ms Buckley added.
