American Express Company is a global travel, financial and network services provider.
Founded in 1850, the Company serves individuals with charge and credit cards, .
Travelers Cheques and other stored value products. It also offers financial planning, .
brokerage services, mutual funds, insurance and other investment products. Through its .
family of Corporate Card services, American Express helps companies and institutions .
manage their travel, entertainment and purchasing expenses. As the world's largest .
travel agency, American Express offers travel and related consulting services to .
individuals and corporations around the globe.
In 1995 against the emerging proliferation of Internet usage in business, the movement by .
agents from commission to fee based arrangements, shortages in travel counselors and the .
increasing costs of traditional infrastructure Amex embarked on becoming an interactive player.
Number of companies in the travel industry started the developing Internet travel products. .
American Express had to move quick. They could be follower or leader. %90 leaders get big piece from market.
"For over hundred years, our company has been a pioneer. We invented Travelers .
Cheques for the business traveler and the corporate card and the purchase card to help .
our corporate customers manage and control their expenses Now we are developing a .
new Internet travel service that we believe will meet the needs of today's companies and .
business travelers and will, once more, redefine the world of corporate travel."".
-Executive, American Express, 1997.
This statement shows their vision, mission and target market very clearly. They wanted to .
develop travel product which automating the booking process and make travel policy easier for .
corporate travel managers. They have to move forward without wasting any time because timing .