IMI Latest News

The US Treasury ‘s announcement last week of its intention to buy out the toxic assets that are central to the credit crunch was greeted with relief in the markets. Today, however, there is general unease that the actual plan has stalled on Capitol Hill.

This concern may be misplaced. The announcement of a bailout was a critical step but implementing it raises both technical and political issues.

In his September Blog Dr Tom McCarthy, Chief Executive IMI follows this debate and looks with interest at the political dimensions, as many commentators believe that the method of implementing a bailout can have distributional implications.

Click here to read IMI Chief Executive, Tom McCarthy’s latest blog.

Speaking at the inaugural IMI Business Breakfast to launch its new Master of Business (MoB) framework, Dr Tom McCarthy, Irish Management Institute Chief Executive, today highlighted that ongoing and flexible management of talent in Irish companies is a vital ingredient in Ireland’s economic recovery.

“Economic retrenchment is not a time to cut investment in talent management. It would be a short-sighted move that would not serve Irish business well in a time when good decision-making is paramount. Right now a more flexible approach to talent management is crucial and that is what the MoB is about."

Professor John Boudreau, Research Director at USC Marshall and human resource management expert, also spoke at the event and emphasised Ireland needs to differentiate itself from low-cost competitors by generating sustainable competitive advantage through optimising talent management investment.

Dr McCarthy added: “The IMI’s suite of Diplomas address immediate business and career needs. From September 2008, participants, in addition to the practical job related benefits of these courses, will earn 30 of the 90 credits toward this new qualification. Participants can add to this credit bank as they work toward the Master of Business in a timeframe best suited to their own work / life demands.”

The IMI Master of Business is a unique Masters programme which facilitates flexible learning and ultimately an internationally recognised, HETAC-accredited Master of Business qualification. Every time an individual successfully completes an IMI Diploma course, they will earn 30 masters-level credits on the National Framework of Qualifications. By completing any two of the IMI select suite of diplomas and an action leaning dissertation, 90 credits (the national standard for a Masters qualifications) will be earned resulting in the award of a Master of Business.

The IMI MoB philosophy, unlike traditional MBAs and Business Masters, is driven by an intensely practical, action learning philosophy. Throughout the MoB, classroom learning is applied to real-life business challenges via exercises, group work, case studies and projects that centre on both day-to-day work and the challenges currently facing participant’s organisations.

The IMI also recognise prior learning experience so that credit can be earned for career achievement to date.

Dr McCarthy also announced a programme to widen participation in Management Development. “By consolidating their investment in Training and Development with the IMI, organisations will be able to make their budgets go further.”

To learn more about the IMI’s Master of Business, and for information on the IMI’s MoB-linked Diploma programmes and the practice-based Research Dissertation, click here.

Speaking at the launch of ‘People Skills for Managers’ by Sam Malone at the IMI on Tuesday September 2nd Minister for Education Batt O’Keeffe TD said; “The IMI has played a very significant role in promoting and facilitating both supervisory and management education over many years. The fact that it uses a partnership approach ensures that the courses and skills provided are customised to meet the specific requirements of many organisations.”

The Minister was joined at the book launch by Dr. Tom McCarthy, Chief Executive of IMI and Aidan O’Regan, Deputy Chief Executive of ESB who all congratulated author, Sam Malone, on the publication of his book on management education. The Minister noted that the book is important “because it places much emphasis on the fact that, to be successful at work, we need to learn both the technical skills for the job and the people skills to build teamwork and partnership.”

The Irish have an innate capacity to work in partnership for the common good, the Minister said, and that by working in this way Ireland can emerge stronger from the current global economic uncertainty.

“In the office, too, every front-line supervisor, middle manager and senior manager, irrespective of profession, should foster that same culture of partnership that has been one of the hallmarks of the growth of the Irish economy,” Minister O’Keeffe added.

“Sam Malone’s book is well researched and well presented. It highlights the core principles and skills required to handle any management situation and the author sets them out in a comprehensive and lucid style. It is a book I would recommend for managers at all levels in any organisation.”

The Minister also acknowledged ESB’s support of Sam Malone, a former employee and their help in the launch for his book. “It clearly demonstrates why ESB continues to be a premier organisation in this country when it places such emphasis on the value of training,” the Minister concluded.

People Skills for Managers  by Sam Malone is published by Liffey Press.

Lead from the start with a Henley MBA, the highest ranked MBA in Ireland.

The closing date for applications is the 12th of September, 2008.

Click here for further information.

To discuss any aspect of the programme, please contact the

Programme Director:

Dr. Mary Hogan (01) 207 8551

or

Programme Manager:

Linda Gilsenan (01) 207 8557

Speaking at the IMI’s AGM, IMI Chairman Dr Phil Nolan emphasised that, as Irish business enters a very turbulent period, it is vital managers do not neglect ongoing learning in the difficult economic environment as expected by the ESRI.

 “We must continue to prioritise management training and the capacity to adequately meet new and evolving challenges across the business landscape. Managers are now having to deal with organisational challenges not encountered for 20 years and must continue to develop management expertise to prosper. Now is the time for managers to evaluate their educational needs. Our objective at the IMI is to continue to put lifelong learning for management to the forefront and meet this need.”

The IMI’s focus is to ensure that the certification received on completion of an IMI course delivers credit towards a qualification and is portable throughout a manager’s career. The IMI has made considerable progress in developing an architecture of accreditation by mapping its courses across Levels 6 to 9 of the National Qualifications Authority of Ireland (NQAI) Framework. While IMI courses continue to focus on delivering immediate and practical benefit to practicing managers, they will now be able to build up a credit bank of lifelong learning that can deliver qualifications up to Masters Level. Over the last financial year, the IMI completed the quality assurance process with the Higher Education and Training Awards Council (HETAC) and made the initial submissions for programme accreditation.

Dr Nolan also outlined the IMI’s new dedicated business laboratories as an innovative way to tackle business issues. The ‘Bizlabs’ are underpinned by the publication of two research reports: Cultural Diversity in the Workplace, and Ireland Inc. Innovation and Creativity in Business.

The National Productivity Centre (NPC), a joint venture with Microsoft, was also established in October 2007. Additionally, the IMI held several successful events during the year, including the National Management Conference (NMC) in Druid’s Glen and a conference in January 2007 to launch the DEMOS report on patterns of innovation in China, India, and South Korea.

IMI CEO Tom McCarthy was also elected a Fellow of The International Academy of Management (TIAM) and was presented with his scroll by TIAM Fellow Sir Anthony O’Reilly at a ceremony in Dublin in July 2007.

IMI is delighted that Professor John Bessant has joined the IMI as a Senior Fellow.

John is Professor of Innovation in and Technology Management at the Tanaka Business School, Imperial College London. John is also a director of the EPSRC/ AIM which is a collaborative research programme with Cambridge, Cranfield, Loughborough and Liverpool Universities: the Innovation and Productivity Grand Challenge.

Prof Bessant is also leading the IMI BizLab on Innovation and is hosting a series of 4 workshops on Innovation between January & September 2007.

Professor Bessant is a prolific author and researcher, most recently in the area of discontinuous innovation but also into strategies for developing high involvement innovation and the use of learning networks to facilitate the diffusion of innovation. John has authored 15 books and many articles on the topic and has lectured and consulted widely around the world. His book ‘Managing Innovation’ was chosen as one of the best innovation books at the European Academy of Management meeting in 2005.

John began his career as a chemical engineer and, after some time in industry, took up full-time research and teaching in the field of technology and innovation management at Aston’s Technology Policy Unit, the Science Policy Research Unit at Sussex University and at Brighton University where he directed the Centre for Research in Innovation Management (CENTRIM).

In 2003 he was awarded a Fellowship with the Advanced Institute for Management Research and was also elected a Fellow of the British Academy of Management. He has acted as advisor to a number of companies, various national governments and to international bodies, including the United Nations, The World Bank and the OECD.

The IMI BizLab on Cultural Diversity will host a a conference on Cultural Diversity in the Workplace on 5th November, 2008 at the IMI conference centre in Sandyford.

This one-day event will present speakers on the business case for a strategic approach to diversity management.

It will highlight the practical steps for effective implementation of diversity management and it will be grounded in the everyday experiences in the intercultural workplace.

At the conference the IMI BizLab will launch its publication on the practical management of cultural diversity in Ireland's workplaces. It will be aimed at top managers, HR managers, employers and CEOs.

The Deloitte Best Managed Companies programme has been developed to promote and recognise excellence in Irish/Northern Irish owned and managed companies.

Entrants to the programme will compete for this designation in a rigorous and independent process that evaluates the calibre of their management abilities and practices.

This new business awards programme will recognise twenty indigenous Irish companies across the island of Ireland which are operating at the highest levels of business performance and highlight the management excellence within in these companies.

This is the only awards programme that considers companies from every perspective – an independent judging panel will look at a broad range of criteria including strategy, capability, commitment, financials and growth potential across all key functions of the business.

To be considered for an award, companies must go through a two-phase application process, details of which you will find at: www.deloittebestmanaged.ie

This programme is unique in the emphasis it places on a range of management capabilities. It focuses on how companies are mastering their growth strategies across sales and marketing, finance, business processes and leadership.

IMI is proud to sponsor the awards programme in association with Deloitte, Bank of Scotland (Ireland) and the Sunday Business Post. Winning companies will receive a wide range of rewards and benefits including exclusive use of the Deloitte Best Managed designation, rich networking opportunities, national media exposure and an invitation to an exclusive Irish Management Institute Symposium and gala awards ceremony. There are benefits for all companies who apply, even those who are not among the final 20 winners.

The awards, which are open to companies from all 32 counties on the island of Ireland, offer benefits to all companies entering the Best Managed Companies Awards programme – not just the winners. Valuable insights into the ingredients for long-term success of their business will be available to all applicants - and those who progress through the awards process will receive customised feedback from Deloitte and Bank of Scotland (Ireland), thereby benefiting from experienced business acumen and expertise within both the professional services and banking sectors.

In addition, winners will receive national and peer recognition, the opportunity to network with their peers in the industry at a gala awards ceremony and attend a symposium organised by the IMI. These companies will then be able to use the ‘Best Managed’ designation.  

Entry Criteria

Applications can be made online at www.deloittebestmanaged.ie.

To enter companies must meet the following criteria listed:

Irish/Northern Irish owned, managed and controlled companies (incorporated in either the Republic of Ireland or Northern Ireland)

Turnover in excess of €5million (£STG 3.5 million)

Established for at least 5 years

Demonstrate growth over the past 3 years (Turnover or Profit)

Closing date for entries is Wednesday 18 June, 2008. Programme sponsors include Back of Scotland (Ireland), the Irish Management Institute and the Sunday Business Post.

Human capital must be given greater consideration if Ireland is to maintain a successful economy, Dr Phil Nolan, Chairman, Irish Management Institute (IMI), said today.

Speaking on the eve of the opening of the IMI’s National Conference, Dr Nolan, the former eircom CEO, who will address 300 business people at the Ritz-Carlton in Enniskerry, Co. Wicklow tomorrow, emphasized that despite the business turmoil pervading the global economy, Ireland still has a specific opportunity in the area of human capital to build a sustainable economic future.

“Put simply, a successful economy depends on two things – financial capital and human capital. To date, Ireland has been quite successful at putting in place an environment that is conducive to attracting financial capital. However, we are behind the curve when it comes to human capital - and this is where we have a huge opportunity.”

He continued: “There are challenges facing us achieving the requisite population level with the right talents. We must make Ireland an appealing place to live by focusing on quality of life and addressing a range of issues where we’re currently lagging behind, including health, infrastructure, waste, etc. Also we may need to compromise on certain things, for example, space. In terms of population density, we are significantly underpopulated for a developed country. Our GDP would be much higher if we had the population density of, say, the UK or Switzerland.”

The IMI conference opens tomorrow Thursday, April 3, and will focus on how Ireland can maintain a high performance economy and achieve sustainable business success. The Taoiseach Bertie Ahern and Peter Sutherland, Chairman of BP and Goldman Sachs International, will be keynote speakers at the event.

 Best selling author Dan Pink will open the conference tomorrow and argue that the era of "left brain" dominance is giving way to a new world in which “right brain” qualities – inventiveness, meaning, empathy – predominate. This will be followed by Dr John Boudreau who will look at how companies can excel in the competition for talent.

Charles Butterworth, Vodafone CEO will also lead a session on Thursday that considers how enterprises can be enabled to deliver high performance. He will be joined by entrepreneurs Cully & Sully, Rachel Elnaugh and David O'Meara whose experience provide the case studies against which concepts can be assessed.

On Thursday afternoon, Richard Olivier, son of famous English actor, director, and producer Laurence, will explore how the leaders of tomorrow will need to be ordinary human beings with extraordinary talents. There will also be Masterclasses hosted by Dr John Boudreau as well as Professor John Bessant, who will focus on organisational renewal, and Professor John Roberts, who will draw on his wide ranging experience with global corporations to identify how firms can be designed to facilitate high performance.

Friday’s discussion will open with an address from An Taoiseach Bertie Ahern TD on the economic and political context that facilitates a high performance economy, followed by a presentation on the concept of the ‘blue ocean’ organisation by Professor Renee Mauborgne. Professor Bjorn Lomborg, internationally-known for his best-selling and controversial book ‘The Skeptical Environmentalist’, will analyse the environmental agenda and the Copenhagen Consensus in the context of business and discuss how, with limited resources, we should approach ecological problems with a ‘solutions ranking’ approach.

 A ‘CEO Focus’ forum with will span both days with Padraig McManus (ESB), Tony Keohane (Tesco), Martin Murphy (HP) and Paul Rellis (Microsoft) giving their views on the crucial matters affecting their organisations and Irish business generally.

The Conference is sponsored by Vodafone, Deloitte and Mercer and supported by ESB, Microsoft, Tesco Ireland and the National Centre for Partnership and Performance. The event, which will be chaired by broadcaster Olivia O’Leary, commences at 8.45 am both mornings and finishes at lunchtime on Friday. 

Sir Terry Leahy, Group CEO of Tesco plc. has been awarded the Sean Lemass Gold Medal for Business Leadership by the Trinity-IMI Graduate School of Management.

The presentation of the medal was made by Minister of Justice Brian, TD. Lenihan at a ceremony in Trinity College Dublin on January 18th.

Speaking on behalf of the Trinity-IMI Graduate School of Management, Dr Tom McCarthy, Chief Executive of the IMI, said Sir Terry has been selected for the award for his significant business achievements, his entrepreneurial skills and his Irish roots.

Terry Leahy was born in Liverpool in 1956 to Irish parents, his mother comes from Armagh and his father from Sligo. After graduating with a Bsc in Management Sciences from the University of Manchester Institute of Science and Technology, he joined Tesco in London in 1979 as a Marketing Executive and was promoted to Marketing Manager in 1981 and then Marketing Director in 1984. In 1986 he was appointed Commercial Director of Fresh Foods and subsequently appointed to the Board of Tesco PLC as Marketing Director in 1992. He was appointed Deputy Managing Director in February 1995. In 1997, and at the age of forty-one, Terry Leahy was made Chief Executive became the youngest person to head up a FTSE 100 company.

Sir Terry Leahy's time as Chief Executive of Tesco has seen the company become the UK’s largest retailer while also enjoying an ever expanding international reach. His appointment as CEO coincided with Tesco’s entry into the Irish Market place.

 Terry Leahy’s significant business achievements and entrepreneurial skills were recognised with a knighthood in 2002, for his services to the retail industry. He was chosen as Britain's "Business Leader of the Year" in 2003 and the Fortune European Businessman of the Year for 2003. In 2005 he was selected as Britain's most admired business leader by Management Today and the Guardian found him to be the most influential non-elected person in Britain in 2007. Sir Terry is an Everton Football Club supporter and a special advisor to the club. He has also been granted the freedom of the city of Liverpool where he is also a Director on the Liverpool Vision Regeneration Board.

 The Sean Lemass Gold Medal for Business Leadership was established in 2006. The award is dedicated in honour of the late former Taoiseach Sean Lemass who was instrumental in the establishment of the Irish Management Institute in 1952.

Sir Terry Leahy is the second recipient of the award. The first recipient of the award was Dr John Malone, Chairman of Liberty Media Corporation. He is the owner of a wide array of international media interests and is a global player in the cable industry. His ancestors are Irish.

The Trinity-IMI Graduate School of Management was launched in October 2005 and brings together the IMI and TCD's School of Business. The School also has a strategic partnership with Babson College in the US, a recognised global leader in entrepreneurship education and an internationally recognised business school.