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Ireland – a model of business success in the global economy?

Ireland – a model of business success in the global economy? CIEE International Faculty Development Seminar Usha Ramanujam, Instructor, PCC, Business Administration Global Economy – Celtic Tiger VedVyas Shanbhogue, Intel Corporation, Portland, OR Intel Corporation in Ireland

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Ireland – a model of business success in the global economy?

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  1. Ireland – a model of business success • in the global economy? • CIEE International Faculty Development Seminar • Usha Ramanujam, Instructor, PCC, Business AdministrationGlobal Economy – Celtic Tiger • VedVyas Shanbhogue, Intel Corporation, Portland, ORIntel Corporation in Ireland • Cynthia McBurney, Owner, Kathleens of Dublin, Portland, ORImports from Ireland • Monica Sharma, PCC Alumna & Accountant, Ike Corporation, Beaverton, ORHow does PCC education help in an import/export company?

  2. Global Economy: The Celtic Tiger By Usha Ramanujam

  3. Agenda • About CIEE • Some background on Ireland • Surge of the Celtic Tiger • Current challenges • Summary

  4. About CIEE • Council on International Educational Exchange • International Faculty Development Seminars (IFDS) • Faculty and Administrators are selected by PCC International Education • Goals • Promote educational experiences abroad • Lectures • Tours

  5. To Ireland..

  6. Monday, July 2: First and Second Lectures

  7. All lectures @ Dublin City University (DCU) • DCU was established in 1980 • 85-acre campus, almost 10,000 students • Has a large study abroad program • PSU students participate frequently

  8. Historical Background

  9. Historical Background

  10. The Republic & Northern Ireland

  11. Historical Background

  12. Historical Background

  13. Wednesday, July 4: The Fourth, Fifth, and Sixth Lectures

  14. “The Devil is in the Detail: The Underbelly of the Celtic Tiger” by Dr. Peader Kirby

  15. The surge of the Celtic Tiger

  16. The surge of the Celtic Tiger

  17. What attracted Multinationals to Ireland? • Foreign Development Investment (FDI) • Corporate tax breaks • English speaking work force • Low wages • Availability of EU funds to create innovative social partnerships

  18. Additional factors boosting the economy • Women joined the workforce • Higher levels of immigration to Ireland • Creation of jobs in high tech sector • Return of the Irish Americans

  19. Slowing down…..since 2002 • Increase in minimum wages (€8.75) • Lack of indigenous commitment to research and development • High Tech companies only have assembly line jobs • Disintegrating educational system • Rising interest rates and growth in private debt • Disparity in wealth • Decline in agriculture and production industries

  20. The current growth is in .. • Civil Service • Construction • 44% increase • Microsoft • 800 jobs to construct datacenter • Less than 30 to operate!

  21. The current growth is in .. • Consumer spending

  22. Thursday, July 5: Trip to Belfast, Northern Ireland

  23. Religious differences Shankill Road Mural

  24. Loyalists vs. Nationalists

  25. Loyalists vs. Nationalists Falls Road Mural

  26. Northern Ireland is still isolated

  27. Summary • What has worked for the Irish economy? • Being part of EU • Tourism and strong Euro • What can sustain the Celtic Tiger? • Develop indigenous technologies • Reduce religious/political conflicts • Impact of International Education @ PCC • International Financial Reporting Standards introduced in Principles of Accounting II (BA 212)

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