RTÉ Brainstorm – The changing world of a multinational subsidiary in Ireland
Whitaker Institute member Professor Esther Tippmann, of the Innovation and Structural Change cluster, has co-authored a new piece for RTÉ Brainstorm with Mark Gantly. The article argues the nature of what a subsidiary company does has changed dramatically, which brings challenges for local managers.
The changing world of a multinational subsidiary in Ireland
“Today, most subsidiaries are multi-business campuses with diversified sites and a collection of activities that serve multiple businesses” Opinion: the nature of what a subsidiary company does has changed dramatically, which brings challenges for local managersForeign direct investment continues to make a strong contribution to the Irish economy. IDA Ireland recently reported that more than 245,000 people are directly employed in the multinational sector of more than 1,500 companies, an all-time high. Beyond those directly employed, foreign direct investment (FDI) leverages a further eight indirect jobs for every 10 direct.
Foreign direct investment has also helped develop our technical and managerial skillbase, building a workforce that is tuned to the opportunities of today and adaptable to those of the future. Sectors with a particularly strong FDI presence in Ireland include information and communications technology, pharma, medtech, financial services and digital services. In each of these sectors, the leading global players all have a major presence. For example, nine of the world’s top 10 companies in medtech have operations here.