Amazon.com or commonly known as Amazon was a company which firstly sold only books on the Internet (known as an online bookstore), but Jeff Bezos, the founder of this company, had a vision in making Amazon be “An everything store”. Now, Amazon sells everything such as CDs, hardware, software, clothes, toys, numerous tools and much more. Amazon shows its slogan as “Our vision is to be the world’s most consumer-centric company, where customers can come to find anything they want to buy online” (Straus, 2017). Jeff Bezos (the founder of Amazon.com)
Jeff Bezos raised $1 million from his relatives and friends to start his business by rented a house in Seattle and set up the business in his garage. The first month after this business started in
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First, regret nothing, there’s nothing to be regret in his life. He started a new web-based company when the internet’s future was a huge risk. He said that he would regret it if he didn’t do it. This means if we want to do something, we must do it, so even though it is failed we won’t regret it because it was our decision.
Second, play the long game, Jeff Bezos was telling the truth to his investors that the company was not having a profit for a year, and then he gave a chance to his investors to hand off from this company before it collapsed. He also showed that this was his strategy. This means that on the way to do something it’s not always easy so we need to play a long game to succeed in the future, even though it’s failed we still happy because we try our best to do what we want.
Third, start narrow then diversify. First Amazon.com only sold the books but soon, it sold various things and now it’s involve in the production of media game as what he has told, he must make Amazon become “An everything store”. This means we need to do things slowly, not rush because sometimes doing things rush will cause many
It talks about the importance of a good support system and networking. Being an entrepreneur is not easy and requires much of your time, but there are people in the world you should develop relationships with. This isn’t a solo journey, because you have friends and family who are important and will impact your decisions.
Rockefeller, Andrew Carnegie and J. P. Morgan is that you can’t always get what you want. You won’t always win some battles and you have to accept it. You will commit mistakes and it’s okay, as long as you learned from them. To not be greedy because wanting too much would not get you any better. To know and understand people because you have to be careful to choose whom you can trust. You have to make use of your strengths and try to develop your weaknesses because your competitors will always try to blow you at your weakest point. Being an Entrepreneur, failure is not always an option. The most successful people had an idea, believed it, build it and made it because they took the risks and never gave up. That in every uncertainty, there is an opportunity. You have to look for improvements, make your product even better or else, someone else will do it. The industry is a tough competition so you have to be smart in making decisions and solutions to your
Sometimes people can surprise you, as having an aptitude for business is not always easy to spot. Many of them are hard to spot until they get started doing things on their own. The readers really like the author’s idea of teaching people to "fail as a process". When we do new things they tend not to work up to 9/10 times. This should be seen as normal and necessary. The author point out the logic that if you work hard and keep moving forward, you will succeed in life. By keep pointing out the evident of him, the author more and more make people believe in what he said.
The passage by Kevin Ready draws focus to the concept of failure and the various ways in which failure can be perceived and interpreted. Ready emphasizes that failure is relative to the way an individual chooses to internalize the results of their work and experience. For Ready, success is measured in terms of “creation and movement” and the ability to channel these two elements to create value. Ready alludes to the fact that in order to achieve success, individuals must learn from failed attempts and use their experience to become successful in future attempts. Failure is contingent on the way in which an entrepreneur chooses to personalize their experiences and act in correspondence to their understanding of their experiences.
Amazon.com is a customer centric company. They put more effort in improving their system to make the experience of customer more comfortable so that he keeps on returning to the website. Jeffery Bezos who is the founder of the Amazon.com started this company after seeing the use of internet increasing rapidly.
The reason we chose Amazon.com, Inc. as our organization to analyze because they are the leading online-retail store in the United State and worldwide. Currently Amazon is the largest internet company in the world, with more than 230,800 employees working around the global (Amazon, 2016). Amazon operates in three general segments: media, electronics and other merchandise. And those items that they sell including clothing, jewel, grocery, books, pharmaceutical, electronic device, household items, fitness equipment, automotive parts, digital content for books, videos, and apps. You name it, they got it, Amazon have everything from A to Z that is legal to sell on this planet.
Amazon is an online retailer focused on selection, price and convenience. Incorporated in May 1996, Amazon.com offers programs that allow sellers to sell products on the website and have the fulfillment performed by the seller. In addition to the online marketplace, Amazon also manufactures and sells Kindle devices. Through the different programs offered by Amazon, the company has the edge over their competitors. They are able to secure the lowest price, fastest shipping and offer incentives to the customer, such as Amazon Prime (Amazon, 2014).
The main characteristic of Jeff Bezos is that he does not expect to get it right the first time. He has learned that building a successful new business does not come from one big idea but it rather takes a lot of time to
The first recommended strategic action is to focus on increasing Amazon’s brand products. The company can gradually start offering its customers more of their brand products. Amazon has already built a loyal customer base from all over the world and they must take advantage of this. According to Statista (2016), the company had over 31
One of the companies that exploits opportunities and business ventures to create growth and sustainability is Amazon, Inc. Amazon was founded in 1994 and since then it has opted to take its business online and thus develop a global strategy that has paid off and turned the company into a technological business hub that serves consumers by offering an assortment of products and services in a noteworthy customer service. These strategies have made Amazon one of the leading online retailers with a revenue of US$ 88.988 billion as of 2014. This paper thus seeks to describe Amazon’s grand strategies of product development, market development, and concentration as part of its long-term growth strategy.
Amazon is the world’s largest online retailer that was launched in 1995 (Rouse, 2014). Amazon was mainly a book selling company that has enlarged its’ business by selling a variety of goods. The company sells all types of technology devices such as cell phones, games, televisions, movies, cameras, computers,
Amazon.com, Inc. is the leading online retailer of books. The ¡§Earth¡¦s Biggest Bookstore¡¨ opened its virtual doors in July 1995 with a mission to use the Internet to transform book buying into the fastest, easiest, and most enjoyable shopping experience possible1. Amazon still holds their commitment to customer satisfaction and the delivery of an educational and inspiring shopping experience in high regard today and it is now one of the most widely known, used and cited commerce sites on the World Wide Web (WWW).
Amazon.com, Inc. (Amazon.com), incorporated on May 28, 1996, is an American electronic commerce company with headquarters in Seattle, Washington and is the largest Internet-based retailer in the United States (Ungar, 2014). Amazon.com started as an online bookstore, but soon diversified, selling DVDs, Blu-rays, CDs, video downloads/ streaming, MP3 downloads/streaming, software, video games, electronics, apparel, furniture, food, toys and jewelry (Ungar, 2014). The company also produces consumer electronics—notably, Amazon Kindle e-book readers, Fire tablets, Fire TV and Fire Phone — and is a major provider of cloud computing services (Ungar, 2014).
With the proliferation of communication and information technology, particularly the Internet, most business organizations have been at the forefront to join the e-commerce platform. Amazon is considered as one of the existing and largest e-business platform in the world. This report outlines Amazon’s strategic intent and key resources and capabilities. In addition, the report will also include an analysis of the company 's assets and capabilities that have provided it a sustainable competitive edge as well as, the recommended future strategy of the giant online organization. Amazon defines its line of business operations based on product and service sales, fulfillment, digital content subscriptions, publishing, and co-branded cards. The company 's line of business is defined as an online store, Internet service provision, and the Kindle ecosystem. This project will explore the truth that has made the online company to be considered as the top online retailer, which mainly focuses on strategy. This report also outlines how inventories play a fundamental role in the organization 's business or corporate strategy. The other issues covered in the report include the approach used by the online company deal with the supply chain and the reason behind fast shipping fast. The paper will outline the finance statute of the company and whether the finance effect will bar the organization from developing in future. In order to achieve the answer to the questions
Amazon.com is an electronic commerce business which provides an online marketplace for individuals to shop from the comfort of their own home computer, laptop, tablet, phone, etc. The organization proudly boasts its highly diversified product line-up, offering goods in virtually every category that one might imagine, including books, household goods, electronics, media, grocery and industrial. Their ultimate goal as an organization is to offer Earth’s biggest selection of products while being the most customer-centric company for consumers, sellers and enterprises (“Annual report,” 2008). The company has