Cisco CEO: Net tech will turn around economy

An animated and optimistic John Chambers, CEO of Cisco Systems, said Internet technology has fueled the productivity gains seen in U.S. businesses and will in lead to an economic turnaround.

LAS VEGAS -- The high productivity rates reached by businesses have been driven by Internet technology and those high productivity rates are going to drive an economic come back, said John Chambers, CEO of Cisco Systems

As his company's stock prices rebounded on news of its higher-than-expected third quarter performance, Chambers delivered an upbeat address at Networld + Interop 2002 in Las Vegas. 

"What is driving technology besides productivity is what I believe to be the most fundamental change in business in the last half century is the network virtual organization," said Chambers. 

Chambers said that the Internet economy had gone back to basics with profits, cash flow, return on investment and productivity being the driving forces in e-business.

The animated CEO said homogenous network architecture is needed to construct resilient, secure and efficient network virtual organizations.

"You've gotta have a common architecture across the company to tie together the key systems. You pick one solution and provide it uniformly across the board," said Chambers.

Some members of the audience said Chambers' optimism was a welcome change from all the bad economic news.

Greg Banks, assistant communications manager for RMC Pacific Materials, said he also liked the theme that productivity is a key to business success and will ultimately turn around the struggling economy.

"The theme of productivity was good. I also liked that he put a positive spin on the downturn. It makes you feel better to know that it can't go on forever," added Banks.

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