is amazing that a company's stock could grow by 100,000
per cent to a market value of more than US$500 billion
within 10 years.
Cisco Systems, with CEO John Chambers at the
helm, has become the world's most valuable company. It
surpassed the software giant Microsoft this year.
is a prime beneficiary of the soaring development of the
Internet economy worldwide.
Internet is driving a global economy that is creating
unprecedented opportunities for countries, companies and
individuals around the world," said Chambers, who also
serves as president of Cisco Systems.
said the rise of the Internet economy can be tied to an
emerging "Internet ecosystem," a new business model for
Internet-connected businesses that serve
"Since Internet ecosystems are open, they
encourage new members to participate and foster a
collaborative relationship among members," said
However, for Internet system providers such as
Cisco, more Internet players coming in means more
equipment sales and more profits.
worldwide Internet explosion has allowed Cisco's
revenues to soar from US$1.3 billion in 1994 to US$12.2
billion last year.
Chambers said the Internet economy is affecting
businesses and governments on a global scale.
"Business leaders recognize the strategic role
that the Internet plays in their company's ability to
survive and compete in the new century."
said that in the Internet revolution, the fast will beat
the slow and the pressures of survival will drive the
the next five years, Chambers predicts, all
communications prices will become cheaper and the
transmission of voice and data will be free of charge.
"Business operation speeds and the obtaining and
retaining of quality employees will become two key
factors if Internet companies are to triumph in the
coming five years," Chambers told a CEO & CIO Forum
in Beijing last week.
anticipation of China's huge Internet market potential
and steady growth in demand, Cisco has moved rapidly to
1998, Chambers announced in Beijing the investment of
millions of US dollars in establishing Cisco Sytems
(China) Company, including a network technology lab. The
company spent US$6 million last year to open a
technology support centre in China.
have a long-term commitment to China's market, and
that's why we are also focusing on educational
investments," said Chambers.
company has established more than 30 Cisco Learning
Institutes in China. Another 30 are expected to be added
in China's western areas.
are heeding the Chinese Government's call to develop the
distant western areas where related education and
trainings are critically needed," said