Oracle Corporation (NASDAQ: ORCL) is one of the major companies developing (DBMS), tools for , middle-tier software, enterprise resource planning software (ERP), customer relationship management software (CRM) and supply chain management (SCM) software. Oracle was founded in 1977, and has offices in more than 145 countries around the world.
As of 2005, it employed more than 50,000 people worldwide. Lawrence J. Ellison (Larry Ellison) has served as Oracle’s CEO throughout the company’s history. Ellison served as the Chairman of the Board until his replacement by Jeffrey O. Henley in 2004. Ellison retains his role as CEO. Forbes magazine once judged Ellison the richest man in the world.
Ellison was inspired by the paper written by Edgar F. Codd on relational database named A Relational Model of Data for Large Shared Data Banks. He had heard about the IBM System R database from an article in the IBM Research Journal provided by co-founder Ed Oates, also based on Codd’s theories, and wanted Oracle to be compatible with it, but IBM stopped this by keeping the error codes for their secret. He founded Oracle in 1977 under the name Software Development Laboratories. In 1979 SDL changed its name to Relational Software, Inc. (RSI). In 1983, RSI was renamed Oracle Systems to more closely align itself with its flagship product Oracle database.
With Robert Miner as senior programmer. In 1990, Oracle laid off 10% (about 400 people) of its work force because of a mismatch between cash and revenues. This crisis, which almost resulted in Oracle’s bankruptcy, came about because of Oracle’s “up-front” marketing strategy, in which sales people urged potential customers to buy the largest possible amount of software all at once.