Business Finance
Ireland International Buisness Practices

Montclair State University

Question Description

Provide insight into international business occurring in a country around the world.

•Objective: Provide insight into international business occurring in a country around the world.

•Size of market/country (demographics, socioeconomic state, urban/rural).

•Socio-cultural acceptance of product–adaptation necessary?

•Legal/bureaucratic environment (imports, local

•Economic and Socioeconomic Market Issues.

•Any Significant Cultural Issues Within the Market?

•Political and Legal Climate Issues?

•Any Intellectual Property Rights Issues?

•How is the labor climate?


10 pages

MLA Format

Due on 4/2


Final Answer

Attached.

Running head: INTERNATIONAL BUSINESS IN IRELAND

International Business in Ireland
Name
Institution
Date

1

INTERNATIONAL BUSINESS IN IRELAND

2

International business in Ireland
International business has been developed efficiently based globalization aspects, which
have provided a well-engaged environment where it is possible to improve the wellbeing of a given
country. International trade, therefore, is established based on diversity and high focus on
technology development. The concepts of international business provide a greater emphasis on the
economic growth within a given country that has decided to embrace international trade. The
global environment has become a global village where it is possible to engage different partners
in improving the operational environment within a given country. There is sharing of resources
across different nations who are involved in international business. This research paper provides a
detailed focus on international business practices in Ireland with significant interest in market size,
social, cultural aspects, legislation in place. Market operations, labor market and intellectual
property rights issues.
Background information
Ireland has had its financial challenges over the years wherein 2011, the European
governments and the International Monetary Fund sent the Republic of Ireland a loan of $113
billion bailouts. The credit was aimed at protecting the company's budgetary needs and stabilize
the Irish banking system, which was on the verge of collapse following a severe economic
recession in the county as well across Europe. The center of the Irish financial problems was the
bursting of the housing bubble (CSO, 2017).
The challenges that have been witnessed in the country have created a higher level of focus
where the government has sought to integrate different measures that are aimed at ensuring that
there is a particular performance environment. Stabilizing economy requires critical input among

INTERNATIONAL BUSINESS IN IRELAND

3

different sectors so that better standards can be integrated and help improve the country economic
growth.
However, despite these challenges, Ireland has remained one of the most favored
destinations for international business. The fact that the country has been able to maintain its probusiness setting has attracted significant foreign companies in the last ten years. Ireland has been
ranked the best state for business in Europe from some publication including Forbes. The attractive
operational environment is based on the underlying policies and strategies that have been
integrated into the country's business environment creating a highly engaged and positive
environment where many companies have found the existing business requirements and demands
being viable compared to the market environment across different countries in the world (Hill,
2013).
The market environment has been significantly influenced by the need to effectively put in
place a better operating environment and thus due to increased demand within the market, there
has been significant development of new markets in different industries which have indeed created
an improved climate where there better consideration of business development. The emerging
markets with populations that are young and growing are increasingly becoming a major point of
focus in business since there is adequate capital, talent, and innovation. Most of the established
companies have been significantly engaged in focus on the emerging markets due to the ease in
operating unlike the established markets, which create a challenging environment where an
organization can maximize their revenues (Apetrei, Kureshi, & Horodnic, 2015).
Innovation in business in recent past has become a critical factor, which determines the
competitive advantage among companies in different industries. The continuous changes in
innovation are significantly increasing the overall business organizational environment where

INTERNATIONAL BUSINESS IN IRELAND

4

business has focused on to ensure that they remain significantly relevant in the industry. Western
companies are finding it hard to stay on top of innovation and development in business due to
significant innovative changes that have swept across the globe in recent past (CSO, 2017).
Innovations are not one-sid...

RyannN (8095)
University of Virginia

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