Change - a corporate challenge Business & Finance : Change management a corporate challenge Irish Times; Apr 10, 2001 BY JOHN CRADDEN Corporate success will depend on the capacity of companies to manage change, BMW's chairman warned yesterday. Delivering the Institution of Engineers of Ireland's 2001 McLaughlin Lecture at the National Gallery yesterday, Prof Joachim Milberg outlined some of the external challenges facing corporations. These included globalisation, the information society, 'hypercompetition', which relates to the use of disruptive tactics by companies, and the mixing of what he termed 'the real and the virtual economy'. Referring to the question of whether there was any future in the old economy, Prof Milberg said: 'Without real products and real production, no economy has a future.' Prof Milberg observed how a combination of Ireland's location and the innovative power of Irish firms had led to the 'economic miracle' of the Celtic Tiger. BMW sales in Ireland last year rose by 1,259 to reach 4,340 vehicles, an increase of 40 per cent, Prof Milberg said later. Since 1995, sales here have risen by almost 300 per cent, he added. All Material Subject to Copyright Human resource management trends (may 2001) Always be ready for a change of cheese (april 2001) Demands become more complex (april 2001)