Internet Securities

Internet Securities

  • Submitted By: koolvik
  • Date Submitted: 11/26/2008 5:09 PM
  • Category: Business
  • Words: 610
  • Page: 3
  • Views: 426

Internet Securities
Presented by Group 3

November 15, 2008

Company background:

Internet Securities is a company that delivers emerging market financial, business, and political information electronically to customers globally. The company was founded by brothers Gary and George Mueller in 1994. The first of many issues they had to deal with was technological. It was difficult signing up information suppliers because many had never even heard of the Internet. And for those that were familiar, many did not have access to, or experience with the web. Managers needed help with working with computers. Many providers and customers waited months, if not years, for a data line and had issues with securities and its reliability. Technological barriers were eventually overcome, and this is when contract negotiations began. Contracts contained exclusivity clauses that prevented the information supplier from selling the same information to other online information providers, which were difficult to obtain.

Current Challenges for Team III:

As cited from the test case “The informal organizations and ad hoc systems and communications, which worked well while the company was small, began to break down in late 1995 “. Gary and George recognized that they needed to hire experienced managers who would help the company develop the formal systems and controls needed to enable the company to operate successfully as it became larger and more complex.

The company grew from less than 20 people in February 1996 to approximately 30 by June, and to 120 by September of the same year. As the business became more complex and operations became more dispersed, coordination difficulties increased. For example Melissa Burch described her frustration as she attempted to open the Ukraine office early in 1996. As the number of locations and people increased, the limits of e-mail became obvious. Burch complained: “People in Pittsburg weren’t reading my...

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