Timely Move Essential for Survival in Internet Biz: Cisco Pres. Chambers

Korea Times (Seoul, Korea), April 9, 1999 | Go to article overview

Timely Move Essential for Survival in Internet Biz: Cisco Pres. Chambers


With the Internet revolution moving ahead at breakneck speed, Korean firms must promptly respond to the fast-changing business culture in order to survive, according to a world renowned Internet network expert.

John T. Chambers, president and CEO of Cisco Systems Inc., who is in Korea for a three-day visit, stressed yesterday the importance of timely and strategic moves to respond to the changes wrought by the growing use of the Internet.

At a press conference held at a hotel in downtown Seoul, Chambers said, ``It doesn't matter whether you are Korean, American or European. The issue is the same: You've got to be early in the market.''

``If you don't keep your finger on the pulse of what your customers pay for, you'll be left behind quickly,'' he added.

In an early morning session prior to the press conference, Chambers gave a speech to some 300 Korean chief information officers on emerging Internet- based businesses and what Cisco Systems pursues as a network solution concern.

Chambers' remark drew keen interest from Korean business leaders mainly because of his high-profile expertise in the Internet network field.

Since becoming president of Cisco Systems, Chambers has helped increase the firm's annual revenues to over $10 billion, up from $1.2 billion just four years ago.

Chambers noted in the press conference that the the latest data shows the market value of the network giant stands at about $185 billion.

The underlying theme of Chambers' presentation was ``Are you ready?'' referring to the upcoming information and network-based society.

``Do you understand that the Internet is the equalizer? Or does your government understand that?'' the fast-talking network specialist said as he constantly criss-crossed the hall.

Chambers said the network and the Internet will change everything. As with the industrial revolution, the new technology will produce both winners and losers. The only difference is that the Internet revolution will push people regardless of geographic position to make fast choices so as not to be left behind.

In what Chambers dubbed the ``Second Industrial Revolution,'' data, voice and video traffic will converge into one network, which will change the way people work, play and live. …

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