January 10th, 2018
Analysis of Ireland Business Environment in the Case Study, “Ireland 2004” – conclusion
Factors such as political, economic, legal, sociocultural and technological environment determine a country’s attractiveness to foreign investment. For instance, political governance influences economic policies that may present or alleviate barriers to foreign investment in a country. This paper evaluated the role played by such factors in enhancing Ireland economic growth and well-being of its citizens as indicated in the Ireland 2004 case study.
Political factors such as stable governance since independence have helped Ireland develop economic policies and legislation favourable for investors. Among the economic policies favourable to investors were lower taxes, grants for investing in remote regions of the country, and increasing liberalization of trade. The accession to the EU also had favourable economic outcomes to the country such as diversifying its trading partners. Although, there are various legislations governing aspects such as acquisition and employment, government’s initiatives such as those promoting a collaborative approach towards wage determination enhanced the country’s suitability for foreign investment. In sociocultural aspects, government interventions lowered barriers presented by language while timely response to concerns about technological challenges helped the country attract many IT-related companies. Such improved business environment led to increased investment in the country thus improving employment levels and subsequently, per-capita incomes.
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