Northern Ireland as a UK region is rebalancing its economy
towards a greater level of private sector activity. The public sector is to be reduced
in size and the need for the private sector to grow significantly is therefore
a policy priority. Proposed cuts to Corporation Tax, for example, present an opportunity
to grow the local economy and also a challenge. Inward investment by
multinational businesses and growth of indigenous businesses is not just going
to happen on the back of a cut to Corporation Tax in Northern Ireland.
Another key consideration moving forward is the need for
increased effectiveness and efficiency in the Northern Ireland public sector.
Policy makers are already forming plans to not only reduce in size this sector
but to also introduce new ways of working. In part this will require radical
changes to working practices that have a more private sector approach to
management and leadership. Bureaucracy and organizational structure as well as
culture are likely to be key considerations in making these changes.
Critically, in parallel to both these change contexts there needs to be development of the management and leadership skills of the Northern Ireland managers from the private and public sectors. These skills require grounding in knowledge of the various
functions of business, whether that is marketing or human resource management
for example. Potential inward investors will look not only at Corporation Tax
but also at the talent pool and particularly pertaining to managers with capacity
to lead functions and at more senior levels of the business. Similarly, radical
changes to the working practices and approach of the Northern Ireland public
sector requires managers and leaders with the skills to enact them and also to
lead employees in the change process
For managers in both the Northern Ireland private and public
sectors the change context outlined presents significant opportunities and
threats. An MBA presents a means for
them to be ready to exploit the opportunities arising from developing further
the private sector in Northern Ireland and reforming the public sector.
Participants of MBA programmes develop the management and leadership skills to
allow them to be more effective functional managers. They are also better
positioned to take on more senior roles in firms, having gained the requisite
in-depth knowledge of the different business functions from operations to
accountancy and finance to strategic management.
In this time then of change in the Northern Ireland economy, there is no better time for managers in Northern Ireland to consider the currency of an MBA. Whether public sector or private sector an MBA will position them to take full advantage of the transforming Northern Ireland economy. Policy makers should proactively seek to support firms and Government departments seeking to send employees on an MBA programme. That would represent a positive step in the rebalancing of Northern Ireland's economy and improving the efficiency and effectiveness of its public sector.
Dr Geoff Simmons
5 September 2016
