Opportunities and Challenges for Irish Businesses Flashcards
What is an opportunity for Irish businesses?
Emerging markets like China
What is the impact of changes in technology on Irish businesses?
Enhanced communication and marketing through the internet, video-conferencing, and social media make it easier for Irish businesses to reach international markets.
Which emerging markets provide significant opportunities for Irish businesses?
Countries like China and Japan, particularly in food and drink products.
What unique selling point does Ireland have for international businesses?
Ireland’s distinct Celtic culture and reputation for pollution-free products, beneficial for companies like Guinness.
What challenge do Irish businesses face due to globalisation?
Higher production costs compared to other countries, requiring Irish companies to improve efficiency and innovation.
How can currency and exchange rate fluctuations affect Irish businesses?
Variations in currency values, especially against the US dollar or sterling, can make Irish exports more expensive, affecting sales in key markets.
Why are language and cultural differences a challenge for Irish businesses?
Understanding and adapting to the language and cultural preferences in new markets is essential for success. Failure to do so can be detrimental.
What was ‘The Gathering’?
A marketing project that boosted Ireland’s reputation abroad and encouraged tourism.
