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The Challenges Facing Ireland Inc. Jim Collins BSc, MBA, MCMI Ahearne Collins & Associates Ltd. Enterprise Strategy Group Report “Ahead of the Curve” Report published 2004 Key Challenges identified • • • • • • • Exponential change in scale of Globalisation Increased Irish cost base Corporate tax rate competitive emulation Limited export growth of indigenous companies Imminent changes in EU state aid limits Services becoming major GDP growth driver Knowledge as driver of economic development © 2005 Ahearne Collins & Associates Ltd The Challenges Globalisation • The China Price! • 38 million educated citizens working in manufacturing facilities in Cities and a further 70 million in suburbs & rural locations • Average city wage @ $1/hour, rural @ $0.45/hour Irish Cost Base • 2003: € appreciated 20% vs $ & 8% vs £. • Irish price levels deteriorated 14% & are now 12% above the average EU cost base. • 1999: highest net job creation & highest job losses. • Last 4 years: 33,000 jobs lost, over 50% in the high tech sector. © 2005 Ahearne Collins & Associates Ltd ESG Report / ctd Making it Happen © 2005 Ahearne Collins & Associates Ltd Opportunities High value-added manufacturing ….. Will remain a fundamental component of Ireland’s enterprise environment Export Growth The $100 billion club! 1 • 2004: 16 countries exporting >$100 billion of Manufactured goods • Next 2 Years: Joined by Russia, Malaysia & Ireland! 1 Stephen Gould VP US National Assoc. of Manufacturers, Future Manufacturing Forum, Sept 26 th 2005 © 2005 Ahearne Collins & Associates Ltd Realising the Potential World-class Skills, Education & Training • Upskilling general workforce • Lifelong skills development • Distinction in HE graduate quality Cost Competitiveness • Partnership • Rewarding workplace productivity • Focus on Adding Value not Cost Management Capability • Business networks © 2005 Ahearne Collins & Associates Ltd The Lean Solution Engage & Empower Employees Pursuit of Perfection & Elimination of Waste Providing Added Value to Customers Efficiency and Effectiveness Partnership © 2005 Ahearne Collins & Associates Ltd The Toyota Way Defining Work • Advance in the process & enhance the added value • Motion ≠ Work Respecting Humanity • Employees give valuable time & energy • Company provides opportunity to do meaningful work • People’s sense of value requires worthwhile work Ohno… A man-hour is something that we can always count. Manpower is beyond measurement. Capabilities can be extended infinitely when everyone begins to think ! © 2005 Ahearne Collins & Associates Ltd