Note
1. The difficulties experienced by dot-com pioneers in the early phase of e-commerce arose from (i) wildly optimistic forecasts, (ii) unclear business models and strategic plans, (iii) poor financial controls, (iv) inexperienced management, (v) unproven technology, (vi) uncritical investor ‘exuberance,’ and (vii) poor – in some cases criminally negligent – leadership and governance.