Latest IMI News & Events

As part of the Deloitte Best Managed Companies Award Programme Tour America, the holiday specialists on North America and worldwide cruises, was singled out from among the winners to receive a special accolade for exceptional performance in business strategy.

IMI Chief Executive, Dr Tom McCarthy presented a place on the Masters of Business programme to Mary McKenna, Managing Director of Tour America at a syposium held in Dublin on March 5th.

This special award is in recognition of the high standard of management practice that the Deloitte Best Managed Companies Awards has highlighted within Tour America and their exceptional performance in business strategy.

All 20 Deloitte Best Managed Companies for 2010 along with the 22 re-qualified companies from the 2009 programme also recevied IMI Memebership for 2010.

The winners of this year’s Deloitte Best Managed Companies Awards Programme, twenty companies who demonstrated superior business performance were recognised at an awards Gala dinner in the Burlington Hotel in Dublin, which was attended by the Taoiseach, Mr Brian Cowen T.D., on 5th March 2010.

Tour America, the holiday specialists on North America and worldwide cruises, was singled out from among the winners to receive a special accolade for exceptional performance in business strategy. Given the importance that a company’s strategy has in overcoming the challenges that the current economy brings, this was an area that was of particular focus for the judging panel. A place on the IMI's Masters of Business programme was presented by Dr Tom McCarthy, IMI Chief Executive to Mary McKenna, Managing Director of Tour America.

The winning companies are located throughout the island of Ireland and come from a variety of different industries including the tourism, hospitality, technology, food and beverage, medical, automotive, wholesale, distribution and logistics sectors, among others.

The independent judging panel, chaired by Denis Brosnan, reviewed a broad range of criteria including strategy, capability, commitment, financials and growth potential across all key functions of the business. Given the turbulent economic environment, the judging panel recognised that business and management success can no longer simply be measured by increased sales, profit or turnover.

For that reason, a holistic view of the companies, their performance in relation to their peers, and the industries that they are operating in was considered in order to determine management success.

Speaking at the awards, the Taoiseach, Mr Brian Cowen T.D., commented:

"In today's challenging business environment, Irish companies and their management teams need to be more entrepreneurial, ambitious, creative and skilled than ever before. Indeed, for our companies competing in global markets, world-class management teams are absolutely critical to achieving success. Awards programmes like this help bring out the best in Irish companies and are hugely beneficial to all participants."

This year’s process found that there were a number of common traits across the winning companies. These included an increased focus on international markets for growth and the recognition that retaining key members of management despite the pressure to reduce headcount was extremely important – it will be these people who will see the company through the period of turbulence. Many of the winning companies are also dedicating much of their time to forecasting and budgeting – recognising that they are working in a fast moving environment and planning needs to be revised on an ongoing basis to ensure a complete understanding of financing needs and key cost drivers in addition to what variables most influence the business and how to control these.

Commenting on the winners of the Deloitte Best Managed Companies Awards Programme, Pat Cullen, Managing Partner, Deloitte said:

“To be recognised as a Best Managed Company is a tremendous achievement, given the challenges that companies in all industries are currently experiencing. Our judging panel takes an in-depth look at each company - therefore to be chosen as a winner is testament to the sound management practices that are being implemented across the entire business. It is this thorough approach that will help these companies to take advantage of the upturn when it arrives.”

The twenty winning companies are:

• Abbey Tours Limited (Dublin)

• Barry Group (Cork)

• CastleCool (Monaghan)

• Designer Group Engineering Contractors (Dublin)

• FreeFlow (Kerry)

• Hodson Bay Group (Galway)

• Jacob Fruitfield Food Group (Dublin)

• Java Republic Roasting Company (Dublin)

• Killarney Telecom Ltd (KTL) (Kildare)

• MW Fuels Co. Ltd (Limerick)

• National Plastic Packaging Group Limited (Dublin)

• Omega Mechanical Services Limited (Derry)

• Qumas Limited (Cork)

• Singularity (Derry)

• Strongline Autoparts Ltd (Dublin)

• Taxback.com (Dublin)

• Tazbell group (Dublin)

• TG Eakin Limited (Down)

• Tour America (Dublin)

• Wilsons Auctions Limited (Antrim)

The Deloitte Best Managed Companies Awards Programme is open to companies from all 32 counties on the island of Ireland. It is the only awards programme that considers a business’ performance from every perspective.

Details of entry for the 2010/2011 Awards will be issued in the coming weeks on www.deloittebestmanaged.ie 

Where are you in your management career?

At the Irish Management Institute, we can help you map out your career and match your development needs to whichever stage you are at… or aspire to be at.

Our newly launched calendar of courses for Spring 2010 demonstrates that whatever stage you have reached in your management career, we have an open enrolment programme for you.

Our participants work with and learn from some of the best minds in business. If leadership and management development are key objectives for you, we are your first choice.

Click on the link below and join more than 4,000 participants who select every year from IMI's portfolio of programmes focused on delivering tangible business results.

IMI Open Enrolment Courses Spring 2010

The IMI has Ireland's largest portfolios of practice-lead programmes for leaders and managers, and these benefit from global recognition. The IMI is the only Irish business school ranked by the Financial Times for the provision of Executive Education.

The IMI Alumni Network will host a career directions event on the evening of Thursday, January 28th.

As the New Year is often a time for taking stock and setting new goals we thought it would be useful to hold a short evening workshop on managing your career.

This will also be a chance to catch up with old classmates and network with other IMI past participants.

Managing your career and goal setting

Followed by drinks reception & finger food

Thursday, January 28th 2010

6pm – 8pm

IMI Conference Centre, Sandyford, Dublin 16

The IMI is developing its Alumni Network in 2010 to continue to support recent IMI programme participants and graduates as they transfer their learning back to their workplaces.

For more information on the IMI Alumni Network click here.

IMI celebrated the achievement of the largest number of programme participants in recent years at the Graduation Ceremony held on December 4th.

A total of 107 graduands from eight IMI programmes were conferred with the following awards;

IMI Diploma in Management (HETAC Certificate in Management)

IMI Diploma in Executive Coaching (HETAC Certificate in Executive Coaching)

IMI Diploma in Strategic Marketing Management (HETAC Certificate in Strategic Marketing Management)

IMI Diploma in Business Finance (HETAC Certificate in Business Finance)

IMI Diploma in Strategic Human Resource Management (HETAC Certificate in Strategic Human Resource Management)

BA Degree in Management (HETAC BA in Management)

Business Development Programme & Grow Your Business Programme(HETAC Diploma in Business Development)

IMI Certificate in Frontline Management (HETAC Certificate in Frontline Management)

The ceremony was led by Dr. Simon Boucher, Registrar & Head of Graduate Studies, IMI and Dr. Phil Nolan, Chairman of Council of IMI, presented each graduand with their parchment.

Special guest at the ceremony was Prof. Seamus Smyth, the Chair of Higher Education and Training Awards Council (HETAC) marking the fact that a number of the awards made were accredited by HETAC for the first time this year.

The sense of achievement and excitement that buzzed around the IMI Campus on the day was well deserved and perhaps even more so, as IMI Registrar Dr Simon Boucher noted, given that the past year was probably the most difficult to be a manager in Ireland. The additional 170 hours of in the classroom, with the same again in preparation and background reading not to mention the 15,000 words of assignments that these managers had put in over the past year made their achievements even greater.

This year’s ceremony also saw the introduction of our Student of the Year awards. These awards, voted for by class members, recognised the one individual their peers thought made the greatest commitment to teamwork and overall contribution to the group’s learning during the year.

The following were awarded Student of the Year Awards:

Aidan Pierce - Diploma in Management

Tom Hennessy - Diploma in Executive Coaching

Richard Barrett - Diploma in Strategic Marketing Management

Kieran Nash - Diploma in Business Finance

Karen O'Connor - Diploma in Strategic Human Resource Management

Brian Nolan - Business Development Programme

Eileen Hassett - Grow Your Business.

The IMI Report on the proceedings of the recent IFA Economic Forum on Farming and Farm Industry Leaders was published today.

The report contains 15 key action points for the agri-food industry, including the need to invest in the primary production base, reducing bureaucracy and other uncompetitive costs in the economy, protecting farm families from price and income volatility, and regulation of the retail sector to rebalance the food supply chain.

The forum ‘Harnessing Farming, Food & the Green Economy – A Smart Route to Recovery’, took place on November 3rd. The purpose of the forum was to focus on the short-term challenges which the Irish agricultural and agri-food sector is now facing and to develop an action plan for the sector.

The IMI was asked to observe the forum and report on its key recommendations.

Launching the report, IFA President Padraig Walshe called on the Government to immediately take on board the key action points identified so that the agriculture and agri-food industry can overcome its short-term problems and set about delivering on its potential to increase exports and create jobs.

Report on the Economic Forum ofIrish Farming & Food Industry Leaders

Read more here: IFA News

In this month's Managers on Management interview Charles Butterworth, CEO of Vodafone Ireland talks about change management and how it needs to be implemented holistically across an organisation.

Click here to read the interview in full.

Managers on Management is a regular series of interviews with key practising Irish managers and thinkers in the science of management.

Each month we will speak to some of Ireland’s most influential organisational leaders to bring you their thoughts, current concerns and key management advice. Find out more.

Dr Tom McCarthy, IMI Chief Executive was featured in an extensive interview by presenter Ivan Yates on TV3's weekly business show Business Matters on Sunday November 8th.

The interview covered the objectives of the IMI, the National Productivity Centre and the role of management capability in improving productivity, the benefit of management training and the IMI's business mentoring to small and medium size enterprises, as well as the role of the Science Advisory Council which Dr McCarthy chairs.

To see the interview on TV3.com click here.  

Dr McCarthy's interview begins at 17:57 mins into the show and lasts until 29:13.

Business Matters is TV3's new weekly business programme presented by entrepreneur, broadcaster and former senior politician, Ivan Yates.

The report prepared by the IMI on the series of economic working groups held during the recent Global Irish Economic Forum was presented to the Cabinet on Tuesday, October 13th.

This report was considered by the Government as part of a comprehensive overall report of proceedings at the Forum prepared by the Department of Foreign Affairs.

Statement by the Minister for Foreign Affairs, Mr Micheál Martin, T.D., on the publication of the Report on the Global Irish Economic Forum

Global Irish Economic Forum Report

ANNEX IV: Report by Irish Management Institute on Economic Working Group Discussions, 18 September 2009

The forum brought together 180 leading business figures from Ireland’s Diaspora at Farmleigh in Dublin’s Phoenix Park on September 18th and 19th 2009.

This first ever Global Irish Economic Forum was convened with two broad objectives: to explore how the Irish at homeand abroad, and those with a strong interest in Ireland, could work together and contribute to our overall efforts at economic recovery; to examine ways in whichIreland and its global community could develop a more strategic relationship with each other, particularly in the economic sector.

The Irish Management Institute was selected by the Department of Foreign Affairs to facilitate and capture ideas from the forum working groups at which delegates contributed ideas to shape Ireland’s future economic direction. IMI collated this data into a report which will be submitted to Government.

Drawing on methodical and careful preparation, and carrying out a well-defined and comprehensive plan for the facilitation of multiple high-calibre discussions, the Irish Management Institute’s long-standing reputation as a provider of professional facilitation services allowed us to make a significant contribution to this unique event.

For more information on the Global Irish Economic Forum click here. Both documents are also available on www.globalirishforum.ie and www.dfa.ie

If you would like to learn more about how your organisation can benefit from the Irish Management Institute’s professional facilitation capabilities please email customexec@imi.ie

IMI/NIB Survey of Multinationals in Ireland

The IMI /National Irish Bank Annual Survey MNCs published on Monday, 12th October, 2009 highlights that while in the past Multinationals in Ireland focussed on relatively low value added, low wage production, today they are far more likely to be engaged in high-end activities. The report shows that seventy percent of Multinationals in Ireland are operating at the high-value end of their global company as either a strategic centre for the company, a product or a region.

Download Report

Irish subsidiaries are actively pursing new investment according to the report, with three out of four foreign-owned subsidiaries trying to attract new mandates into the country, and 60% succeeding in doing so.

The quality of employment in Multinationals is generally very high, while for 59% of companies improving management skill is a priority for competitiveness.

As well as reporting the underlying strength of Multinationals in Ireland, the report identifies some considerable short-term challenges most especially in relation to the Ireland’s cost base which is seen as significantly higher than in comparable locations. While the greatest competition for Irish subsidiaries is from the UK (28%) and the US (17%).

Half of all foreign-owned companies in Ireland are managing senior personnel in other countries, the report highlighted.

"The change in the type of Multinational subsidiary we are attracting means that the type of skills we provide must meet the needs of these companies", Dr. Tom McCarthy, IMI Chief Executive said. "While we rightly talk about the need to provide more third level skills, we also have to ensure that we have the right world class management skills."

The negative impact of the current financial crisis is evident from the report also, as 43% of respondents this year expect the numbers they employ to decrease over the coming year - a deterioration from the 2008 survey.

Ireland’s reputation has diminished within the respondents’ global companies since the beginning of the current economic crisis according to 57% of respondents. For 11% of them, Ireland’s reputation has radically worsened.

A sizable 42% of firms consider Ireland’s long term economic stability to be weak, with pessimism stronger among Irish rather than foreign-owned Multinationals.

Main Findings:

• Seventy percent of Multinational Corporations (MNCs) in Ireland operate at the high-value end of their global parent, being the strategic centre for the company, a product or a region;

• Irish subsidiaries are very active in seeking new investment. Three out of four were trying to attract new investment, with 60% successful;

• One of Ireland’s main competitiveness problems is it’s cost base - 86% cite energy costs as being particularly high;

 • Ireland’s reputation has diminished during the current economic crisis, with 42% considering Ireland’s long term economic stability to be weak;

• The greatest competition for Irish subsidiaries is from the UK (28%) and the US (17%) - not China or Eastern Europe;

• While historically, Ireland has fared badly in terms of measures of infrastructure quality, recent high rates of investment seem to have reduced this as a concern;

• For 59% of companies, improving management skills is a priority for competitiveness;

• The level of personal taxation was identified as a barrier to attracting expatriate staff by 40% of respondents, though Ireland was perceived as being very safe;

• The quality of employment is generally very high, with 37% of MNCs employing a workforce of which between 1% and 10% have a PhD;

• A significant majority expect trading conditions to remain very difficult for the next 12 months.