‘Lean’ lessons for Irish business from Toyota
The key differentiator between ‘Lean’ processes in Japan and Europe is that in Japan there is less focus on hard automation and more on the development of people, according to Dr. Richard Keegan, a fellow of the Institute of Engineers and manager of the competitiveness department at Enterprise Ireland. Keegan had first exposed to the concept around 16 years ago in his capacity as the European advisor to the EU-Japan Centre for Industrial Co-operation when he went to a Toyota plant. “Being an engineer and having the opportunity to see the Lean best practice in real life was an eye-opener. The first thing I noticed was all the flashing lights…
Read MoreSean Quinn Reiterates Blame on Accountants: Key Points
Following revelations that Quinn Insurance lost more than €700m in the year prior to it being placed into administration, former head of the insurer Sean Quinn is still insisting the blame lies with the accountants currently in charge. Quinn has claimed that the business had €1.1bn in liquid assets and €464m in property when Michael McAteer and Paul McCann were appointed as administrators.
Read MoreSéan Quinn Jnr Released: Exploring the Aftermath of His Prison Term
Seán Quinn Jr., the son of former Irish billionaire Séan Quinn Snr, was released from Mountjoy Prison in Dublin on August 3, 2012, after serving a three-month sentence for contempt of court. His imprisonment was related to a legal dispute between the Quinn family and the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank. Justice Elizabeth Dunne said it was not a matter for the court to decide on Quinn Jnr’s release time – it was up to the prison authorities. He was released from Mountjoy shortly after the hearing, having served three months. Meanwhile, a new legal team asked the court for more time to prepare a defense for Seán Quinn Snr. Lawyers for…
Read More14 Start-ups NDRC’s LaunchPad VII
Fourteen start-ups are participating in the latest round of the NDRC’s accelerator programme, LaunchPad VII, which begins this week. According to the NDRC , the participants beat off stiff competition and were chosen from a field of 100 applicants. Each of the start-ups will undergo an intensive 12-week programme in NDRC where they will receive hands-on mentoring and support from some of the most seasoned practitioners across the board. At the end of the three months, they will then compete in the ‘Lift Off’ competition for follow-on investment, sourced from venture capitalists and private investors. LaunchPad provides up to €20,000 per start-up in pre-seed investment during the programme, and over 100 start-ups…
Read MoreIs a brand name important?
Is a brand name important?Pictured: Would Ingvar Kampard Elmtaryol Agunnaryd have been as strong a name as Ikea? Having worked on numerous brand naming projects over the years, Niall Corcoran understands the potential pitfalls around choosing a name, as well as the advantages that picking the right one can bring. Here, he shares some of his key tips on naming brands and companies. “Whatever brand name we choose doesn’t really matter as the brand, in time, will be defined by the service we deliver”. This was a quote from a senior executive in an organisation whose brand we worked on recently. In some respects he is right. A brand like…
Read MorePTSB to Buy Northern Rock Irish Deposits
Permanent TSB has agreed to buy the deposit business of Northern Rock Ireland, the company announced today. The retail banking arm of Irish Life & Permanent is to buy €650m of deposits from Northern Rock’s Irish business, which currently has 17,000 customers. This is the second major acquisition of deposits by Permanent TSB Bank in the past six months. The bank acquired €3.6bn in deposits from the Irish Nationwide Building Society in February. “This is a very significant transaction for Permanent TSB bank and is an important strategic step for the bank as deposits are critical for all Irish banks going forward,” David Guinane, chief executive of Permanent TSB, said today.…
Read MoreQuinn Healthcare Transitions to ‘Laya Healthcare’ in Strategic Rebranding Initiative
Quinn Healthcare rebranding to Laya Healthcare Quinn Healthcare said today that the company is set to be renamed Laya Healthcare. The company, which underwent a management buyout last December, said the name is derived from its promise to its members – “looking after you always”. It said it is currently in the process of transitioning to the new brand. “As from today, May 1st, our new underwriter is Elips Insurance Limited, a wholly owned subsidary of SwissRe,” said Dónal Clancy, managing director. “There will be no operational impact on members during the transition period, it’s very much business as usual. “Quinn Healthcare continues to sell and renew policies and pay…
Read MoreClosing Date for Entrepreneur of the Year Approaching
Ernst & Young has made its final call for nominations to this year’s Entrepreneur of the Year (EOY) programme, the closing date for which is 30 March. Now in its 15th year, the EOY programme continues to acknowledge the achievements of entrepreneurs from across the island of Ireland. Following the announcement of a shortlist of 24 finalists in May, participants will go to a CEO retreat to Silicon Valley and the televised Entrepreneur of the Year Gala Awards Night will take place in October. The overall winner of the 2012 award will also go forward to represent Ireland at the World Entrepreneur Of The Year finals 2013 where he or she will…
Read MoreThe Mount Wolseley Exits Examinership; 175 Jobs Secured
The Mount Wolseley exits examinership; 175 jobs securedIan Lawlor, examiner to The Mount Wolseley Over 170 jobs have been safeguarded at The Mount Wolseley Hotel in Carlow further to an investment package worth €7.5m being made by Brehon Capital as the hotel successfully exits examinership. This is the first successful provincial hotel examinership in the country, showing hotels can successfully restructure their operations within a three-month time frame under the protection of the court, according to examiner Ian Lawlor, the managing partner at JPA Brenson Lawlor accountants. He said that this is an “extremely valuable alternative” to a receivership process that can often take some years to conclude and probably…
Read MoreWaterford’s TSSG Pioneers Groundbreaking EU 5G Initiative
The Telecommunications, Software, and Systems Group ( TSSG ) at Waterford Institute of Technology is co-ordinating an EU-funded project to help build the global technical infrastructure for a fifth generation (5G) telecommunications network and mobile internet. The 30-month CogNet (Cognitive Networks) project has received almost €6m in EU funding as the only Irish-led project approved under the Horizon 2020-financed, 5G Public, Private Partnership programme (5G-PPP). Current telecom providers have just started the process of rolling out 4G, and 5G is likely to start appearing around 2022. A multinational project, CogNet will develop solutions to provide a highly automated and more intelligent level of network monitoring and management, improve operational and energy…
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