To: The Phoenix who wrote (37976 ) 6/27/2000 10:45:00 AM From: Jeffrey D Read Replies (1) | Respond to of 77400
Are you ready? Jeff << ""Are you ready?" and on that note, Chambers ended his talk, leaving his audience to ponder over the future." NEW STRAITS TIMES (MALAYSIA): CHANGING WITH THE NET 94% match; New Straits Times (Malaysia) ; 26-Jun-2000 12:00:00 am ; 600 words INTERNET technology levels the playing field between companies or countries, regardless of size, according to Cisco Systems Inc's president and chief executive John Chambers. "I think people realise today that (the Internet) is going to change every aspect of our lives," Chambers said during his talk on The Internet Economy and the Fate of Nations in the Asia-Pacific Region at the recent World Congress on Information Technology 2000 in Taipei, Taiwan. The three key messages in his presentation were how the Internet and applications were revolutionising productivity, the Internet and education, and the change agent. Chambers said IT started in the '90s as a productivity tool which modified various aspects of businesses but today IT is changing businesses as a whole. As more and more government and business leaders realise the importance of the Internet infrastructure, their future will be determined by how they harness the power of this technology and how they focus on key productivity applications. an electronic business (e-business). "The Internet phase is both exciting and challenging. It'll be a time when the fast beats the slowest. Not the big beating the small." The companies and countries that will survive in this new economy will not necessarily be the largest ones but those that act quickly. Citing his company as a case in point, Chambers attributed Cisco's fortune to being in the right industry at the right time. "It is basically understanding and moving at the right timeframe, and using the right applications and infrastructure that will determine the future. And I would not translate speed into market share and profitabilitiy. I would translate it in terms of experience. With experience, one has the capability to bring in new applications and capabilities to your business and country." Chambers said understanding the shift in market or economic trends gives companies or countries a competitive advantage. At a time when many companies slowed down their investments in Asia during the economic slowdown, Cisco saw opportunities and increased its investment, he said. "Our competitors lost about 10 per cent sales in Asia, while Cisco's increased about 42 per cent a year-and-a-half ago and 100 per cent this year." Chambers said many Asian countries are now seizing the opportunities that the Internet technology and electronic commerce (e-commerce) have to offer to compete on a global basis. Several years ago, Chambers predicted that the Internet revolution would first start in the United States, followed by Europe, then Japan and finally to the rest of Asia. But it turned out that after beginning in the US, the momentum shifted to the UK, followed by Asian countries such as South Korea, Taiwan, China, Singapore and Australia, and then to Germany, France and Italy before going to Japan. Chambers stressed that shift of the momentum was partly because at times it is often the most largest and successful companies are the hardest to change. "Change occurs when we get emotional or what we do to survive. Not necessarily through creative thinking." He said now is the chance for countries to catch up as more people realise the importance of the global economy that will determine the future of their companies and governments. "And the point that I'm making is that companies or countries that are successful going forth will make change part of their culture." Chambers attributed the success of his company to change, saying that Cisco has built change into its culture. "We have changed our key way of going to market seven times in a decade. Change, no matter how difficult it is, will be a requirement for companies to grow and survive. It'll be part of their culture." While change makes people uncomfortable, Chambers predicted that in the next decade it will be an integral part of how a business is managed. Companies, he said, will have to understand how to reinvent themselves, learn how to acquire and how to form strategic partnerships. "Are you ready?" and on that note, Chambers ended his talk, leaving his audience to ponder over the future.Caroline Louis